this post was submitted on 21 Aug 2023
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FIRE (Financial Independence Retire Early)
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FIRE is a lifestyle movement with the goal of gaining financial independence and retiring early.
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Are these renovations fun or just necessary? We’ve had to do quite a bit with our century home, unfortunately most have been the not fun kind.
These most recent ones are for fun. One of those classic HGTV-style renovations. Knocking out walls, putting in a beam, redoing the kitchen and fireplace. We’ve probably put about another $60K in necessary repairs and appliance replacements in the 5 years we’ve owned it.
Still though, even if these renovations added zero value we would still be ahead in home value since we bought it.
Got it, that’s fun then at least! Do planned renovations figure into your larger RE strategy at all?
We’ve done $225k(ish) in renovations over the last four years and there are still two largish projects on our wish list. I want to wrap up the (known) big stuff before RE.