When/how do you decide to do home renovations?

[disneysteve]

well, seeing this is savingadvice, i would imagine saving money should always be in the back of your mind. i agree that making your house comfortable should be important, but i think it is ridculous when people spend tens of thousands to renovate their kitchen, bathroom, etc.

I don't think it is ridiculous if they have the money and all of their financial ducks are in order. As we often say, it is all about priorities.

When we change anything around the house, we give absolutely no thought to whether or not that change will appeal to whoever owns the house after us as we have no idea when or who that will be. We've lived here for over 14 years and plan to be here until we retire in 18-20more years. We'll do what works for us and what we can afford.

[Caoineag]

We have been doing projects in order of necessity and then in order of what we won't have to fix again. The idea is to do those items needed in a way that doesn't require us to make the next job harder or more expensive. I.e. no working on bathroom/kitchen ceiling prior to installing ventilation.

We have managed to finish up the vital (major plumbing leaks) and are currently moving on to the semi vital (ventilation).

We are also plastering and painting our library. Its taking more time because we refuse to just paint it now and then fix the walls and doorways later. So everything is getting fixed now because its a cheap enough job that only requires time and a few basic supplies.

We bought our home with the necessary renovations in mind. We couldn't have afforded our house all fixed up nor would we have a good excuse to make things look the way we want them to if everything was already new.

Like Steve said, we plan on being here for awhile and we are doing what we can afford and what works for us.

[ScrimpAndSave]

The renovations I want aren't necessities in my dad's house. I would love to reface the fire place which is painted white brick with granite tiles and I would love to put in new counter tops, hard ware for the cabinets and a back splash.

The bathrooms needs sprucing up too...and the hardwood floors need to be refinished in most of the rooms.

I think $20,000 would be able to do it all...but we would still have out hand me down furniture for a while.

It's hard because I look at the place and would really like to make it "ours".

[disneysteve]

The renovations I want aren't necessities in my dad's house. I would love to reface the fire place which is painted white brick with granite tiles and I would love to put in new counter tops, hard ware for the cabinets and a back splash.

The bathrooms needs sprucing up too...and the hardwood floors need to be refinished in most of the rooms.

I think $20,000 would be able to do it all...but we would still have out hand me down furniture for a while.

It's hard because I look at the place and would really like to make it "ours".

I think refinishing the floors is more maintenance than renovation. It needs to be done every so many years.

I agree that making the place your own is emotionally important. Putting in little touches to freshen up the place and personalize it is something we all do to our homes. New curtains, new carpet, fresh paint, rearranging furniture, new hardward on the cabinets, etc. If it is all cosmetic stuff, you can do it over time. No need to do it all at once.

[ScrimpAndSave]

Some pictures of the house currently:

Front:

http://img.makeupalley.com/2/1/2/9/1080675.JPG

Back:

http://img.makeupalley.com/2/1/2/9/1124691.JPG

Master bedroom (has a bathroom attached):

http://img.makeupalley.com/2/1/2/9/1142744.JPG

Living Room (has a huge bay window):

http://img.makeupalley.com/2/1/2/9/1142743.JPG

Family Room (hello cherry wood paneling):

http://img.makeupalley.com/2/1/2/9/1142742.JPG

Kitchen:

http://img.makeupalley.com/2/1/2/9/1142741.JPG

Enclosed, tiled back porch:

http://img.makeupalley.com/2/1/2/9/1119415.JPG

When they update it in 1992-1993...they used the best of stuff. They pulled up carpet and refinished hard wood floors...actually the entire house has hardwood floors...the only carpet that is left is the ugly mauve one in the master bedroom. The rest is all tile (kitchen and all 2.5 bathrooms). I think it has great bones...and has a finished basement, too. It has 4 bedrooms which is more than we will EVER need. It has a beautiful formal dining room, too.

My dad is really handy. He recently refinished his bathroom which was horrible yellow 1960's tile that were crumbling. He replaced it with marble tiles and did it all on an CRAZY budget...he spent less than $3,000...but the plumber noted it was easily a $25,000-$30,000 bathroom.

http://img.makeupalley.com/2/1/2/9/1108453.JPG

http://img.makeupalley.com/2/1/2/9/1108452.JPG

http://img.makeupalley.com/2/1/2/9/1108454.JPG

http://img.makeupalley.com/2/1/2/9/1108457.JPG

He's so talented! He sure has taught me a lot...tiling..flooring..painting...he can do it all. He'll be 75 this summer...and we do house projects together just about every weekend. I love doing that because I love spending time with him...and I love updated the house with my future in mind.

Sorry that was so pic heavy!

[disneysteve]

It has 4 bedrooms which is more than we will EVER need.

Don't be so sure. We have 1 child and 3 bedrooms and it isn't nearly enough. We have one bedroom, our daughter has one bedroom and the 3rd is our office/computer room/library, craft room, etc. My wife used to scrapbook but doesn't have anywhere to keep her stuff spread out. She knits and doesn't have any set place to store all her yarn and supplies. I play the piano and there is an electric piano in that room but I can't get to it. We have no guest room (though we do have a sleeper sofa in the family room there is no privacy for guests). So don't be so sure that you won't find good use for those "extra" rooms.

[cschin4]

What is it you want to do? I see nothing wrong with spending money on your home. In fact, I think that is probably your best expenditure. It is your home, you spend time there, etc. Do NOT remodel for future owners. You should buy and do what you like but I would recommend sticking to neutral decor as styles change quickly and anything that makes a "statement" quickly gets old.
If you listen to some posters, why not just live in a tent and bank all you money until you die? However, having said that, I think we all need to learn to be content as if you get caught up in the continued HGTV thing, nothing will ever satisfy you either.

[ScrimpAndSave]

Disneysteve,

We don't want to have children...so I am "assuming" that 4 bedrooms will be enough. But I am sure one will be an office for him being a lawyer and all...then our master bedroom...and then I would love to have two guest bedrooms.

[jIM_Ohio]

A few points-

Home improvements and similar are tax deductable. If you do 20k of home projects and the value of home goes up 8k, 12k of the expenses are deductable.

I have a cousin which did not like her house... she looked at moving and it was too expensive. She then bought new furniture for every room and changed the color scheme- now she is much happier with house.

I would guess most home owners will get this itch once or twice over a 20 year period.