this post was submitted on 20 Jan 2024
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I agree. I didn't mean to suggest you should not do upgrades. I was suggesting you should do upgrades for you. In fact I would say that you should specifically do it as a reward for meeting certain goals that you set for yourself. Be your own source of positive reinforcement and rewards, not just your salary, but how you spend your salary.
I just mean like, don't install a swimming pool now for $50k because you think you'll get it back when you're able to sell your house for more money. Such improvements might boost property value, but you won't get a positive financial return. If you want to buy a pool, do it because you want to go swimming and because you met your goals and deserve a nice reward.
Also, upgrades are expensive. If you've got debt, focus kn the debt. Look for smaller, higher value upgrades. For example, if you have a home office, don't remodel the entire office, buy yourself a new desk and chair. Another idea would be to hire a pro to come in and install modular closet storage; an upgrade to make your life easier, more organized and efficient and that you'll use and appreciate every day.
Oh don't worry, I'm not offended or anything! I don't expect people to know my entire financial situation and my financial knowledge from a single post! It's just that I know a lot of moneybros go ham on the "save and invest every penny" model without looking at the bigger picture. Was just a comment on that is all.
Yeah, I would be putting money into it knowing that it wouldn't really be a ROI to sell, just for my own personal pleasure. The tricky part is figuring out what decisions to make!