Anonymous
07/18/2014 09:21
Subject: Using Savings for Bathroom Renovation
Another vote for not doing it.
Anonymous
07/17/2014 20:24
Subject: Using Savings for Bathroom Renovation
Anonymous wrote:I'd pay 15k. I'm ready to divorce my DH over the bathroom he decided to renovate himself when we found out I was pregnant. Now we have a newborn, it's still not done, and instead of spending time with our baby he's working on the bathroom.
Sorry about that. Tell him if it's not done by X date, you are hiring a contractor because you need him to help you with the child.
Anonymous
07/17/2014 18:58
Subject: Using Savings for Bathroom Renovation
I'd pay 15k. I'm ready to divorce my DH over the bathroom he decided to renovate himself when we found out I was pregnant. Now we have a newborn, it's still not done, and instead of spending time with our baby he's working on the bathroom.
Anonymous
07/16/2014 22:24
Subject: Using Savings for Bathroom Renovation
Well OP? No update? Or was this a troll post?
Anonymous
07/15/2014 21:50
Subject: Using Savings for Bathroom Renovation
Anonymous wrote:Anonymous wrote:I think going from 6 months to 3 months in emergency savings, when you still have stable jobs and other money you could access is not something I would worry about. Whether you should get a half bath or renovate the current one I have no idea.
I seriously doubt their burn rate is $5k/month. Probably more like $7k+
I have no idea where you get that from. $5k seems reasonable to me, and it's what the OP stated at the beginning of the thread.
Anonymous
07/15/2014 21:41
Subject: Using Savings for Bathroom Renovation
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Fmla does not give you a salary...
+1
FMLA is UNPAID leave.
If they've been at their jobs long enough, they probably have enough vacation/sick leave to cover the fmla as paid leave.
Fed here. You can't take unlimited sick leave. Only
Something like 6 weeks or so.
OP you can't afford this at all.
OP, you need to find out what type of leave you will have and if it is paid. I had to use all my sick days befor taking UNPAID FMLA. FMLA just means you wont get fired for not going to work. You can use 12 weeks per year.
Anonymous
07/15/2014 21:40
Subject: Using Savings for Bathroom Renovation
Anonymous wrote:I think going from 6 months to 3 months in emergency savings, when you still have stable jobs and other money you could access is not something I would worry about. Whether you should get a half bath or renovate the current one I have no idea.
I seriously doubt their burn rate is $5k/month. Probably more like $7k+
Anonymous
07/15/2014 15:54
Subject: Using Savings for Bathroom Renovation
15:43 link to a blog with many photos of ugly houses and rooms=phoenix focus but this is in Philly
http://uglyhousephotos.com/wordpress/?p=30745#more-30745
go the 3 dirty bath post
http://uglyhousephotos.com/wordpress/?cat=10
http://uglyhousephotos.com/wordpress/?p=30745#more-30745
go the 3 dirty bath post
http://uglyhousephotos.com/wordpress/?cat=10
Anonymous
07/15/2014 15:43
Subject: Using Savings for Bathroom Renovation
Anonymous wrote:DH and I both work for the Federal Government in very stable jobs with decent upward mobility. We have about $30k in cash savings/emergency fund which is about 6 months worth of expenses. Our very old (1940s) house has one original full bath that is need of updating and we'd like to get this done before DC's arrival this December. We've received estimates from contractors and it looks like it will cost about $15k for a full gut renovation. Seeing as how this is about half of our savings/emergency fund and that we're expecting our first child soon, should we take on such a large expense at this time? As I mentioned, this is our only full bath (we have a half bath in the basement) but we don't think we'd get it done any time soon if we wait until after the baby. We plan on showering at work (gym) or at my brother's condo (he has agreed!) about 3 miles away. We also have substantial Roth IRA's that we can tap into in case of emergency.
Any thoughts/advice?
I am bucking the trend on the responses. You have a 1940's house with 1 full bath and a 1/2 bath in the basement. Is that a nicely finished basement or something gross? We once had 1 and 1.5 with the half being really gross and accessible through the furnace area and it was a step up. Disgusting. Is your house 2 floors plus basement or a ranch? Is it a split level?
Gut it-only tile tub 3 sides and floor. You might come in at 10k or under. http://www.bathexpress.com/faq/ No need to put in a showplace/granite/marble.
Anonymous
07/15/2014 15:10
Subject: Using Savings for Bathroom Renovation
Anonymous wrote:Anonymous wrote:Anonymous wrote:Fmla does not give you a salary...
+1
FMLA is UNPAID leave.
If they've been at their jobs long enough, they probably have enough vacation/sick leave to cover the fmla as paid leave.
Fed here. You can't take unlimited sick leave. Only
Something like 6 weeks or so.
OP you can't afford this at all.
Anonymous
07/15/2014 15:08
Subject: Using Savings for Bathroom Renovation
Anonymous wrote:Anonymous wrote:Do it! A new bath will make your life much nicer, and once you have a child it will be much more difficult to live through.
Have you crunched numbers as far as baby expenses, lost pay from parental leave, etc.?
Yes, we've crunched the numbers. We have enjoyed being DINKS for the last 10 years! We both have healthy leave balances and will each take 12 weeks of (paid) FMLA leave after the birth so we won't need childcare for the first 5-6 months while still receiving our full paychecks. After that, daycare will prevent us from saving as much as we currently are, but we should still be able to put at least $750-$1000 per month into our savings to recoup our emergency fund. Other than our mortgage, we have no other debt and we max out our retirement contributions. Our neighbor runs an in-home daycare and told us she will hold a spot for us for next summer and we are also on several Federal-preference center wait lists as a back-up.
Unless your agency is special there isn't the option to take 12 weeks paid leave.
Anonymous
07/15/2014 14:55
Subject: Using Savings for Bathroom Renovation
Are you likely to move in 2-3 years? Are you planning a second child? We redid our Fairlington condo when J was expecting #1. We moved when #2 was 6 months old. We spent $29K on a new (small) kitchen, new bathroom and other things. The unit sold quickly, but only for about $10K more than our neigbor's identical sized unit that looked like ours prior to the work.
What I'm saying is that we paid ALOT of money (almost $20K) to have that new kitchen/bathroom for only 3 years! In retrospect, we should have sucked it up and just lived in our old (but functional) kitchen and saved the cash. People say you will "get it back when you sell", but this is not always the case, esp when you are going from good to great as opposed to from bad to great.
What I'm saying is that we paid ALOT of money (almost $20K) to have that new kitchen/bathroom for only 3 years! In retrospect, we should have sucked it up and just lived in our old (but functional) kitchen and saved the cash. People say you will "get it back when you sell", but this is not always the case, esp when you are going from good to great as opposed to from bad to great.
Anonymous
07/15/2014 14:49
Subject: Using Savings for Bathroom Renovation
Anonymous wrote:DH and I both work for the Federal Government in very stable jobs with decent upward mobility. We have about $30k in cash savings/emergency fund which is about 6 months worth of expenses. Our very old (1940s) house has one original full bath that is need of updating and we'd like to get this done before DC's arrival this December. We've received estimates from contractors and it looks like it will cost about $15k for a full gut renovation. Seeing as how this is about half of our savings/emergency fund and that we're expecting our first child soon, should we take on such a large expense at this time? As I mentioned, this is our only full bath (we have a half bath in the basement) but we don't think we'd get it done any time soon if we wait until after the baby. We plan on showering at work (gym) or at my brother's condo (he has agreed!) about 3 miles away. We also have substantial Roth IRA's that we can tap into in case of emergency.
Any thoughts/advice?
Is the bathroom functional, and in need of cosmetic updates?
Or is its function compromised?
I would only spend the money at this point in time if it is actually dysfunctional. If it's just ugly, I would live with it for awhile longer while saving money for the renovation.
Anonymous
07/15/2014 14:41
Subject: Re:Using Savings for Bathroom Renovation
No way.
Anonymous
07/15/2014 14:36
Subject: Using Savings for Bathroom Renovation
Yes! Do it and enjoy!