Hi there. I live in a suburb west of Boston. My husband and I make around $230k yearly before taxes. We bought a smallish but very cool house last year in a neighborhood we adore, with incredible schools, for 500k. We have two children- a baby and a toddler. The house is outdated and I'm interested in doing some major renovations- adding another bedroom, a porch, a home office, and a new bathroom. Lots of remodeling & interior decorating as well for the existing rooms. We've paid down and owe around $375k (3.75% interest) still on the house. I'm thinking renovations would be somewhere around $125k, but I barely know anything about this stuff. My husband and I are not finance people and are quite clueless about this stuff. Does what I'm saying sound reasonable? Any tips? Any advice is much appreciated! Thank you!
Oh if it matters- major expenses we have monthly are mortgage ($2350), childcare ($1500), and a car loan ($480).
Submitted March 22, 2017 at 07:17AM by my_legal_account http://ift.tt/2nB3Pjc
