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Need your input!

October 21st, 2014 at 05:18 am

After we seal the deal on our current home we will have enough money to pay our new to us home in its entirety. I was thinking of keeping $50K of that money to do a kitchen renovation and update the bathrooms somewhat. My hubby is saying, pay off the house and let the kitchen/bathrooms wait. Can I live with the kitchen/bathrooms the way they are?, I can. But from prior experiences, my husband tends to drag his feet when it comes to fixing or redoing things around the house. I'd really like to get it over with and pay the $50K asap by applying extra principal payments.
What do you think?

4 Responses to “Need your input!”

  1. Wife of the Deacon Says:


    If you pay it off and have no mortgage, you'd be able to save quite quickly for those projects and if you prioritize which one you'd like/want/need first, it wouldn't be a full $50K that you'd need all at once. That is just my opinion. Smile

  2. creditcardfree Says:

    Wife makes a good point, however, I see your point also. I think either way you go is okay! I think the main thing to convey to your husband is what you want and agree to no feet dragging!! You guys are good for the money and ability to save and/or pay off the mortgage. I'd personally want the updates done sooner than later if I had the money. Smile

  3. MonkeyMama Says:

    I'd save up the cash first - I wouldn't take on a mortgage for the kitchen.

  4. snafu Says:

    It is such a hassle, so much paperwork and expenses associated with a mortgage, I'd avoid the whole mortgage procedure. I wonder if you could float it one project at a time with help from a 0% CC. I don't know if you've lived in a home with an ongoing kitchen renovation, it requires flexibility. Since the kitchen is the heart of the home, having it all topsy turvy is very stressful. I suggest creating a detailed plan. Do you need to move any of the plumbing? Will you need new locations/wiring for lighting or additional outlets? Will you replace all cabinets, cupboards, hardware, pulls? Will you change cabinet placement? What type of counter, sink faucet, flooring? The fun part is choosing major appliances.

    Will you work with a kitchen design specialist? They are knowledgeable, point out small details that make a big difference in how the kitchen functions and can help avoid mistakes. The other side is that if they work on commission they will recommend upgrading components and increase costs. What is your cooking style? Do you need a bake zone or something very specific to you like counters higher than standard or deeper [country] sink?

    Will DH do some or all of the work? Does he have the skills and tools needed? Will you help as gofer?

    We blocked project by project on a calendar; listed every item needed for each segment so that we didn't have to dash out to HD when bolts stripped or clamps were to big to hold cabinet in place etc. We bumped into "Murphy's Law' daily, what ever could go wrong, did go wrong. Items ordered were either too large, too small, left when we asked for right, wrong colour, only one in three boxes of flooring was correct...you get the idea. Worse were tradesmen who were no shows, or came late, did half the work and vanished for the remainder of the week. A one month refurbish stretched nearly two months and as time went on everyone's temper frayed a bit more.

    Worst for us was that stove and dishwasher were in the living rm, fridge was in use and stashed here, there, wherever!

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