Comments on: Budget 8% for New Home Upgrades http://ptmoney.com/budget-8-for-new-home-upgrades/ Real Personal Finance for a Life Without Limits! Thu, 29 Mar 2012 02:15:21 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: PThttp://ptmoney.com/budget-8-for-new-home-upgrades/comment-page-1/#comment-13 PT Thu, 01 Jan 1970 00:00:00 +0000 http://ptmoney.com/?p=40#comment-13 I agree. For most Americans who don't have adequate savings for emergencies or towards retirement, that 8% might be too high. Probably should have noted this in the post. The study actually found a much bigger percentage in most parts of the country.<br/><br/>By the way, what we're actually looking to spend is somewhere around 2.5%, much less than the 5% we originally budgeted. We also plan to do some of the improvements "over time" like you mentioned. I agree. For most Americans who don’t have adequate savings for emergencies or towards retirement, that 8% might be too high. Probably should have noted this in the post. The study actually found a much bigger percentage in most parts of the country.

By the way, what we’re actually looking to spend is somewhere around 2.5%, much less than the 5% we originally budgeted. We also plan to do some of the improvements “over time” like you mentioned.

]]> By: Jonathanhttp://ptmoney.com/budget-8-for-new-home-upgrades/comment-page-1/#comment-7 Jonathan Thu, 01 Jan 1970 00:00:00 +0000 http://ptmoney.com/?p=40#comment-7 I think budgeting 8% for home improvement is a bit over the top. The savings rate for the average American is now below zero--I think a higher priority for that 8% would be towards investment and savings.<br/><br/>Because home improvements are a generally a poor investment, returning less than they actually cost, it would probably be better to do them more cheaply, over time, and invest most of that 8% elsewhere. Like the stock market. I think budgeting 8% for home improvement is a bit over the top. The savings rate for the average American is now below zero–I think a higher priority for that 8% would be towards investment and savings.

Because home improvements are a generally a poor investment, returning less than they actually cost, it would probably be better to do them more cheaply, over time, and invest most of that 8% elsewhere. Like the stock market.

]]>