[Priti]

Help needed to make some decisions. So I plan to relocate to a low cost country in the next 8-10 yrs. My house is paid off & I have no other debts with enough saved for my emergency fund.

My house definitely need some renovation especially the bathroom & deck.

But does it make sense to take out a loan for this project when I only have another 8-10 more years in this house ?

Or should I start saving for it & do it when I have enough cash which could take another couple of years depending on the amount

[Wallace]

For maximum value… remodel after you move out.
We have a place in Thailand. Have you thoroughly researched your options on where to move?

Pay particular attention to VISA and residency requirements.

[Jeff]

If you do the renovation now you get to enjoy it but in 8-10 years it won’t have as much impact on the sale because it won’t be a new deck or new bathroom but rather just not deficient.

8-10 years is awhile out in the future, how old are you? Is it likely your life plans change a lot?

Is your home likely to appreciate much?
Are you fine living in the house the way it is?

You are allowed to enjoy the home you live in for the next decade and this is the personal aspect of personal finance, is it worth it to you?

If using that bathroom everyday annoys or frustrates you then why subject yourself to it for a decade?

If you don’t mind then don’t bother.
Also, why a loan instead of just saving for it.

[Matt]

Best ROI is to do only what is nessisary near time of sale, saving for it, vs now and vs loan. Delaying, your finances will grow.

Any work done now will depreciate/wear or become outdated in that many years.

Take the time to learn how to DIY it.

[Rick]

Very hard to project the RE market 8-10 years out but for the last 8-10 years I have strong suggested to others that you simply do zero reno. Let a future homebuyer do it.

The time of reno to resell was a few decades ago.

Now if you would truly deeply enjoy the house more after the renovation ehhhh I would probably do it was a lifestyle expense.

But not as a housing expense.

[Author]

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