Jun
22
How can I be happy with my home? I want a new home but don’t want a big mortgage?
Filed Under Do It Yourself (DIY)
I own a townhouse that is not attached to any other houses.
It has:
a 2 car garage
1650 square feet
3 bedrooms and 2.5 baths
a small backyard that is the size of a huge patio and I wouldn’t really call it a “backyard”
NO front yard since it’s a hill and plants
I will have the mortgage paid off next year. My house was built 20 years ago so its really dated.
My friends have huge fancy homes. Obviously they have huge mortgages too. I am sometimes bummed out since my home is not as nice as theirs.
Do you think if I did a little remodeling I would feel happier with my home? The home owner’s only allows simple remodeling like updating the kitchen, replacing tile, painting, etc.
I was thinking of gutting out the house and replacing everything with updated stuff since my tile, kitchen and everything else looks very 80’s.
Any ideas? I don’t want to be house poor like my friends because I want a newer home, but I want to be happy with what I have.
Thanks
Comments
2 Responses to “How can I be happy with my home? I want a new home but don’t want a big mortgage?”
Be grateful for what you have. Not everyone has what you have. But if you really want to upgrade….redo carpet, tile (laminate’s big right now), throw some paint on the walls and update cabinetry and light fixtures…..not much else you can do other than purchase new furniture.; Good luck….remember, you have a lot more then what some people do, be grateful and don’t worry about what your friends have…..what they have today could be gone tomorrow.
I agree that you should be thankful for what you have. Next year, take some of the money you are paying to the mortgage and take a trip to a third world country. It will really open your eyes and make you grateful for what you have.
That being said, can you turn your unit into a rental, be profitable and take some of the equity to purchase a new home? If you are essentially happy where you are and just bemoaning the fact that everything is not all new and shiny, then stay where you are and update what you are able.
Just so you know, I bought a newly constructed home and have spent the last 8 years upgrading all of the builder basics that came with the house. Even if you purchase new, you may not be happy with that in a few years. At least where you are, you will have a paid off mortgage and an asset that will keep increasing in value.