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When Should You Spend Money on Remodeling?

spending money to remodel

Although it seems like no time since we moved in, next year marks twelve years spent in our current house. Aside from some DIY projects, changing out stained carpet, and having the exterior painted a few years back, we haven’t done any major remodeling. Now it seems several things need updating or repair, the biggest one being our master bathroom. How do you know when it’s time to spend money on remodeling? Three Questions Before a Major Purchase As with most big decisions, it’s best to make a list of pros and cons and ask yourself the three big questions everyone should consider before shelling out money. I’ve seen variations of the big three, but in a nutshell, 1) Is this something I need or will it add value to my life? In our case, we really don’t need to remodel. I’ve known many families who never update anything. It might not bother them to live continually in 1987, but remodeling our master bathroom would add tremendous value to my life. 2) Do I need it right now? No, we are not on any sort of time line, but if we did ever decide to list our house, remodeling would ...

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