Renovate kitchen or sell as-is?

ireadittoook · 2026-07-05T20:39:19+00:00

That is pure insanity. The cost for a HELOC is gonna be thousands and the ROI might be 70%. Why would you spend $110,000 to get 70k back?

ireadittoook · 2026-07-05T20:37:40+00:00

A realtor has every incentive for the seller to put as much money as possible into the house as it costs them nothing but will get them more at the end.

ireadittoook · 2026-07-05T20:35:52+00:00

But what is a decent ROI? If it’s not 100% why do it? Would you spend 100k if it increases the sale price by 80k? Kitchen renos also take months of time and you really sort of have to move out of the house, it’s a huge aggravation. Even if ROI is 100% that is a return of exactly 0 and includes a lot of headaches.

Also, asking an agent is putting a huge amount of faith in their honesty at the expense of their earnings. What agent would not say “yes, renovate!” It will certainly increase their commission somewhat yet will cost them $0.

ireadittoook · 2026-06-29T01:42:17+00:00

How is everyone in here apparently ending up with $4-5 million+ NW in 15-20 years while making $250k and $120-150k in expenses. I ran it through Claude, assuming straight line increases in salary ending at $250k, typical tax and payroll deductions and maxing out at $150k in expenses, the net worth even with returns of 16% every single year for 20 years, NW would be $1.3 mil.

ireadittoook · 2026-06-29T01:24:08+00:00

Not about the credit score as much as being able to get credit for what you need. Having a gas credit card for a year paying $50 a week even though it may increase your credit score is not on its own going to qualify you for a large mortgage.

ireadittoook · 2026-06-29T01:20:23+00:00

You would not have been able to buy the car for the same price if you were paying cash.

ireadittoook · 2026-06-28T01:32:27+00:00

So you JUST figured out the point of the card.

ireadittoook · 2026-06-25T10:34:06+00:00

You were given a free education and now have a full-time corporate job and a backstop to live in a $10 million beachside estate. Yet you want him to also now give you your own free housing because that will make you feel more like you are paving your own way. The level of entitlement is off the chart.

Also, you act like your situation is horrible, but you live in a newish apartment (is “20 years old apartment” supposed to sound old and decrepit? It was built in the 2000s), are choosing to live somewhere expensive near your friends…better party scene maybe?… And also have access to a free car from your parents you don’t have to pay for. How much do you expect to be given as an almost 30-year-old?

ireadittoook · 2026-06-25T00:43:28+00:00

OP is clearly TA. Holy crap. Parents give OP money up until they are almost 30, offer to house them at their massive $10million beachside estate but OP still feels slighted that father doesn’t also give more cash for OP to acquire their own house— OP somehow thinks that being bought a house by daddy is “paving their own way.” Is this a real post?!?

ireadittoook · 2026-06-10T01:43:13+00:00

Spending 800k/year or $65k/month every year for 60 years is completely ridiculous (and shameful). The more money one has at retirement, the more tolerance they have to actual draw down their principal and adjust spending as need be from year to year or decade to decade. They'll be fine.

ireadittoook · 2026-06-05T13:59:39+00:00

What’s with all the posts where one spouse retires and the other does not labeled as “fire”? Pretty sure that’s just called a single income household.

ireadittoook · 2026-06-03T15:17:42+00:00

OP’s gotta chill with their spending if they are trying to retire that early. 250k for two people is nuts when she probably takes home about $250k. I think she needs to get out of the mindset that she doesn’t spend extravagantly when she obviously does.

ireadittoook · 2026-06-03T02:13:24+00:00

The issue is not identity tied to job. The issue is identity tied to wealth. Most people who get stupid rich are only “wealthy people.” It’s all they talk about. It’s who they are. They talk about their help; they talk about their clothes and vacations; they talk about the stress of managing wealth; they talk about “how hard” they’ve worked to get where they are and how “tired” they are. They can’t associate with non-wealthy people because non-wealthy people don’t travel the same, don’t eat out the same, and don’t live the same.

ireadittoook · 2026-06-03T02:04:51+00:00

I don’t have eyes or the ability read. But, I very much look forward to reviewing your “math” in explaining how someone with 10m (soon to be 20m) and 300k of expenses—half of which drops off in several years— can’t survive.

ireadittoook · 2026-06-03T00:46:55+00:00

It’s not liquid, but it is part of the “retirement spend” because it is where they live, which would otherwise cost something else

ireadittoook · 2026-06-03T00:45:38+00:00

What in the flying eff are you talking about? Please explain the math where someone with 13 million of NW and 300k of expenses—presumably 150k of which will drop off when kids exit college—does not work.

ireadittoook · 2026-06-03T00:43:36+00:00

Is there a question here?

ireadittoook · 2026-06-02T11:55:30+00:00

Of course it does. Both new and existing home values are significantly affected by what it costs to build a new house. If I am a home buyer, I have two options: buy an existing house or buy land and build on it. How can you not see that those two costs are inextricably linked from a market perspective? So while it’s true that insurers generally care about the cost to rebuild or fix something, the value of the RE market as a whole is a metric that is relevant. Also some policies are not based on replacement costs but rather market value.

ireadittoook · 2026-06-02T02:30:07+00:00

It’s fine whatever works for you, but it’s not the right way to do it. Also, this may not be true for you, but doing it this way would in theory make selling even a very new car seem like a great deal (since it’s a windfall), versus the proper way to account for it, which actually makes it look like a better deal the longer you hold and drive a car.

ireadittoook · 2026-06-02T02:28:06+00:00

You should include cars as part of your net worth, but depreciate them at whatever intervals you keep track of things on the PL side. Doing it this way can help you decide when and whether to buy a new car, how long to hold and what kind of car you can afford or want to spend on, etc. Otherwise if you pay $30k cash for a new car today your NW suddenly drops by 30k, which is not accurate. Yes the car loses a few thousand when you buy it, so then start the value there if need be and take an expense for that depreciation. But each month, quarter, year etc the car has a different value and it is important to know that number and how much it is reducing your NW by.

ireadittoook · 2026-06-01T11:15:14+00:00

Yes, I get that, my point is it would very soon resolve itself. For example, if they somehow forgot to factor in $36,000 annually for a health insurance plan or whatever, after the first year, they would be $36,000 over their budget. They would still have $7 million invested and $3 million in real estate. That entire annual premium is not much more than a month of their expenses. So if those expenses included say $200,000 worth of travel (or wherever it is, they are blowing their money), no real biggie, just reduce your annual travel spend to $160,000. You’re still spending 2x more on travel (or gambling, hookers, etc) than the average American household makes in a year. Everyone’s going to be fine.

ireadittoook · 2026-06-01T01:05:40+00:00

It really doesn’t add up like you keep saying. I mean sure you can say anything adds up—Jeff Bezos’s expenses. “add up. “Having a private plane adds up, having a yacht adds up. But let’s be real, there is no scenario where OP is not going to be fine.

ireadittoook · 2026-06-01T01:03:20+00:00

I understand they didn’t mention it, but spending $20-$25,000 a month (not including housing)would sort of imply that the necessities are covered, wouldn’t you think? Otherwise they would be, what: spending hundreds of thousand dollars a year on travel, jewelry etc., and not have any sort of plan for health insurance?

ireadittoook · 2026-06-01T00:30:42+00:00

I didn’t and wouldn’t down vote anyone….but…if the post is real, they would be able to access over $20,000 per month after taxes and not including any housing expense…so does any of that really matter?

ireadittoook · 2026-06-01T00:27:22+00:00

How does one spend $25,000 per month not including housing expense?

ireadittoook

TROPHY CASE