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Old 02-17-2013, 09:15 AM   #16
Leanbh
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Join Date: Sep 2009
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Re: Taking DR/too frugal living too far....not updating home....

Quote:
Originally Posted by erin_c_odonnell View Post
I agree op that they should have been renovationing as they go but if this person has hording tendencies (I haven't seen the show) then I can see why they were inclined to horde money too.
We are buying (under contract now and just finished our inspections) a 3,800 sq ft home. It's a 1988 but it looks like a 70s throwback. Needs TONS of repairs BUT with a $20,000 Reno loan we're getting all the major stuff done AND we're getting a home for more than $100,000 LESS than its appraised for. I'd say its an investment. We've looked at a lot of houses here and we could pay more or the same amount for a house 1/3-1/2 the size and NONE had the awesome character this home has. I can't wait!
I love that some of you are in the same situation as us, definately inspiring me to just go for it. Can't get this house out of my head. We think it would be an investment too.......are you getting the Reno loan seperate to your mortgage?

Quote:
Originally Posted by Tris View Post
Maybe renovations were just overwhelming? I don't know, I can think of a million reasons someone would have the money but not the time/ ability to update a house. Sometimes it's just not a priority. Maybe they always planned to just move but stuff happened? And really, if they updated 10 years ago, their house would be outdated already
Seems the DH wanted to move for the last 15 years, DW did not. Could have been time....maybe they were both very career driven/busy? They hadn't updated in seriously 25+years though.

Quote:
Originally Posted by RNCCRN9706 View Post
For most, renovating a house involves borrowing money. That's what DR is against.

My thoughts are, life is too short. Since 2008, I've lost two first-cousins to cancer, both were 35 when they died. One worked 7 days a week so his wife could stay home with their children but missed pretty much all of their school events and sports games. He said on his death bed that he wished he hadn't worked so much because he missed it all.

The other cousin, a woman with a husband and 8 yr old son also worked but not enough so that she missed her son's school performances or sports games. She also took trips with her family several times during the year.

I have also survived cancer. Last year, I lost my right kidney due to a cancerous tumor. It could've been ME we were burying at Thanskgiving time last year and not my cousin. When you've had cancer, it changes your perspective on a LOT of things. Including saving a boatload of money and becoming TOTALLY debt free because for some of us, there won't BE a 'later' to live for. You just don't know.
That's the other side of the equation. So very said about your cousin. I can't even imagine.......especially with young kids I can see how that puts a whole new perspective on how to live your life...

Quote:
Originally Posted by KrisM View Post
I just don't see this as Dave Ramsey what-so-ever. It's not his plan at all, so it's not taken too far. It's just people too frugal or whatever, but I don't think it's Dave Ramsey gone too far.

That's ok, we can agree to disagree.....I personally think they were more into steps 3, 4, 5...(is that FFEF, retirement, college etc...basically after BEF)....that they neglected to do some basic maintenance along the way. I know DR is into maintenance though...cars etc, pay a little now to avoid a large cost later. I agree with you with just being too frugal....

Quote:
Originally Posted by KrisM View Post
I'll agree with this, too. We have the money to redo our kitchen. It's not terrible, but the doors need to be refinished or replaced, the counter is dark green laminate and not our style, and we'd like to have a place for trash, more drawers, etc. But, it is very overwhelming! It's a lot of money to part with and the thought of picking the wrong thing is holding us back to an extent. We're really hoping to do it this fall, once DS2 is in kindergarten. But, I'm just not sure we'll have a plan.
Our kitchen is similar, not green etc but overwhelming as we wanted a new kitchen but to do it "right" would have been a lot. I know the laminate is not that expensive at home depot etc, so even that would be a big change I'm sure.


We were more like do a little at a time. So....no....I didn't WANT to spend $200 on deck paint last fall, but now that house is sold quickly I'm very happy that we did. We do smaller projects like that on a regular basis. Honestly I think that's all most people need to do until something big goes out.
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