If you had a spare 5k, say it was a bonus from work or something, what would you spend it on?
DH and I have a unit that needs a new bathroom and a new kitchen... the bathroom is functionally a bad design, like there's no towel rail and a wasted space by having a separate toilet. There are also tiles that have come loose and we are worried about damp getting in under the house.
The kitchen is functional but old and grotty. The drawers are tiny, cupboard doors drop, the floor is horrid (like I keep my shoes on so my feet don't get dirty), there is wasted space everywhere. We need a new benchtop to allow us to fit our new stove in.
Our couch is a second hand from a friend. There are two of them but they are only two seaters and not big enough for DH or I to stretch out on. This is becoming a problem as I get bigger and more uncomfortable. I've never bought a new couch... always had hand-me-downs.
Bathroom, kitchen or couch? Assuming all three could be kept within the 5k allowance (esp the couch!).
Or... for those who are less inclined to spend - would you sink it straight back into the mortgage???
My DH would put it on the mortgage for sure! Any time we've had bonus money that's exactly where it's gone which is SO boring, but great at the same time.
It's completely up to you. What are you inclined to do first? If you are thinking of putting it on the mortgage maybe work out how much interest you will save over the life of your mortgage, then decide whether you think it's worthwhile or not. Sometimes we work so hard and we don't allow ourselves some basic luxuries in life, so don't feel bad if you want to put the money towards some renos or furniture. It's not like you want to blow it on something ridiculous or useless!
Nah spend it OP
no price on comfort
Your house sounds soo much like our did when we first moved in 12 years ago! Ours was built in 1956!
we just had our dodgy bathroom done that we put up with for 12 years. We reborrowed money on our mortgage to do- was soo much worth it! Its nothing flash- but everything works for the first time!!!!!!
We also did the kitchen cupboards 7 years ago and got a new bench done as well. It was the cheapest way we could modernise our kitchen but it really needs it ripped out and started again, but at least it is functional- even if there is no room for a dishwasher!!
I would sink it into the house- see it as an investment!!
Maybe get new cabinets in the kitchen and see if someone can do a patch job of the bathroom for the time been!
and i wouldnt spend heaps on a new couch with a bub coming- they get trashed so quickly. But maybe even get a new couch from a cheaper furniture store that does the job!
so say $3K for kitchen
$1k for bathroom patch up
$1K for couches
There is also a place in Darebin Road Thornbury that does kit kitchens. You have to measure it up yourself and draw up a plan, and they make it up for you and deliver it to your specs. You then have to put it together yourself!! Its heaps cheaper than getting someone to do if for you. My DH and his mate did it and they are not overly handy! Its just a matter of screwing it all together- everything is precut and ready to put together.
Perhaps this might be a way to get under budget as well!
What is on the floor??? Perhaps even some new lino might make a difference???
I have no idea what's on the floor... I've washed it four times and just gave up as it was still dirty! Its tiles but I think they have lost their seal and all the dirt and grime has sunk right into them.
My MIL said she'd come round and scrub them so we could reseal... but the grout has all gone and its just ick.
Apparently BIL has some imitation floor board type lino stuff he's going to give us... that'd be good! But DH is not happy about putting it in as we'd have to clear everything out of the kitchen...
Might look into that place in Thornbury, thanks Odette!
You use it EVERY day, a nice kitchen can make a massive difference on the way your house/unit looks & IMO it will more than likely make your unit value higher.
If it was me with the $5000, I'd probably chuck the money into the kitchen or bathroom. But thats just me and I dont really like to sit on a couch, I usually sit on cushions on the floor. However, if I was to get a new couch, I try to get one that has storage in it (just because you mentioned that theres wasted space in your unit, so any extra storage space is handy!)
There are some fairly cheap things you can to make your kitchen a little bit nicer. New doors and hinges arent horribly expensive in my experience, so if the actual cabinets are still good you could probably get away with just new doors and hinges so the doors arent all droopy and look a bit prettier.
If the kitchen floor is horrendous you could probably get a mat to put down for the time being while you work out what you want to do with the floor. We have this clear thick plastic mat that I put on the carpet to protect it from Claire (because she is SO grotty). It goes under her chair. Its only about 1m x 1.2m but it might be nicer to stand on instead of the grotty floor. I got it at IKea, its called "Kolon" floor mat.
Not sure about bathrooms. The only thing I've done for my bathroom was to get a new sink and vanity and all new taps, because there used to be just a yukky old sink with horrible taps. The new sink and vanity cost me about $600, and then I got a plumber to install it. No idea what it cost though as he never invoiced me for some reason? He told me he invoiced my parents but mum doesnt remember. Anyway, with just the new vanity it looks a million times better, like we have a whole new bathroom.
doubt youd get a new bathroom for 5k. especially if you wnat to re arrange it.
we just did ours and it cost us 8k to do it all our selves and move all teh plumbing and eletrics but hubby is qualified so that saves a heap.
kitchen is doable for sub 5k you could easily do kitchen if your DIY and new couch for 5K.
sorry to sound glum on it all just being realistic, as we had a spare 10k from selling our motorbikes and that after we bought a new car and had a holliday so we decided to redo bathroom, we only have just under 2k left to do the flooring and heating in the loungeroom now.
I'd put it on the mortgage for a few months, until I figured out if I wanted the kitchen, bathroom or couch more, then I'd redraw the money for whichever one we were doing That way, you get to look around at your own pace, and wait for some bargains, and save a bit of interest on the mortgage as well.
the couch would be good for getting up in the middle of the night and breastfeeding...you need somewhere comfy
the kitchen...well, DH should be in there providing meals to keep my energy levels up for b/f
and the bathroom...well, who doesn't need a nice long soak in the bath tub? a newly designed bathroom just makes the view even more relaxing!
My day dream is to actually save some money this year and get a new kitchen! or solar hot water?
Spoke at length with DH about all this on the way into work this morning... we have agreed to park it all for now, put any extra money we have into the mortgage and then reassess the situation in July.
That's not too long to wait.
Nic I did love your comment about DH in the kitchen
Thanks for all the advice - the more I read, the more I understand we need to approach it carefully or we'll end up shelling out 50k before we've even blinked!
Kitchen, bathroom, couch or mortgage?
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That way, you get to look around at your own pace, and wait for some bargains, and save a bit of interest on the mortgage as well.
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