Annual Report

>salary
>$85,000
>$66,000 after taxes and insurance
>bonus
>$15,000
>it's immediately taxed at 25% when they deposit it for net of $11,250
>$8,500 in 401k matching
>total take home pay including money saved in 401k:
>$93,250
>no mortgage, car paid off, like $2k in credit card debt
>saved up $50k this year

And now I need to spend $40k of that rennovating the house: new flooring, painting inside and out, replace the A/C, new roof, and remodel the kitchen and bathroom. Fucking real life sucks ass. I almost said fuck it and bought a new house but that would just be more expensive in the long run.

>>1760589
Rent?

>>1760595

I own a home. My parents bought it; dad died, moved my mom to an apartment I pay for (she doesn't speak English and works as a housekeeper). I took over the house with $75k left on the mortgage. I made lots of extra payments on the mortgage over the last 4 years and literally just got debt free by paying off most of my credit card and my car off.

Over working for the last 6 years I only have $70k saved ($50k from 2016 alone) due to focusing on paying off debt; now fucking home renovations are going to eat my ass. Hopefully there's no big expenses for me this year.

>>1760609
just look at it this way, atleast the quality of your home will be increased. right?

things like flooring/new kitchen/bathroom will be great changes if done well

>>1760589
>now I need to spend $40k of that rennovating the house
no you don't.

unless it's unlivable or you plan on selling in the next 12 months you're just throwing your money away.

>>1760644

>flooring: $8,500
>A/C: $5,000
>roof: $15,000
>outside painting: $3,000
>inside painting (and some drywall repair): $5,000
>remoding bathroom and kitchen $5,000-$15,000.

>>1760644
>>1760662

Forgot to mention, I am getting an appraiser to check out the house and give a value pre and post-renovations.

>>1760662
>>1760664
neither of your posts addresses my point.

unless you're selling the house, remodeling is throwing money away. Even if you ARE selling, remodeling might be wasted since lots of buyers are going to redo everything anyways.