People make bad choices, who knew!
$30k for a kitchen remodel...hmmm. I bought my first house for less than that, and that was less than 10 years ago. I did a total remodel of the kitchen (which was outfitted circa 1950) and spent maybe $5k. Would’ve been more but the old sink was worth $1200 to the antique plumbing aficionado. House is probably good for $150-200k, and I keep it for sentimental reasons and convenience when I’m in the neighborhood. I might retire when I’m 30.
A lot depends on the region, both for property and college, but if you’re up in years why live in a high-tax state and overpay for a new kitchen? Well maybe at “retirement age” you have good reasons. The same can’t be said for the daughter, trying to put it on your tab, $30k for a year (?) in college. Which shouldn’t cost more than it’s worth which is often zilch. Inexpensive quality homes and educations are out there, open your eyes.
Meanwhile, you made the money, she didn’t.
To their future heiress I would say, be patient, make your own money, and take nothing from your parents — except advice. That is the complete secret to retiring at 30.
P.S.: Just a thought, parents: maybe you should do the bathroom instead. Elder-friendly bathrooms improve the property value like magic! And if you don’t move...you’re gonna need that accessibility. The wide door, the wheel-in shower or walk-in tub, all that, it’s gold.
Is this a mobile home or a house in Detroit?
Please provide your address on Freep Mail so I can verify through Zillow. That seems too good to be true.
A home for less than $30K within the past 10 years? That I have to see.