PLEASE help me decide...

[pfishgirl]

This is for Men and Women.... Ok we are coming into some money and we need to decide what to do with it... We have ideas... Should we:

A. find a place in the area of Disney so we can get rid of our timeshare and stop spending so much money on hotels and rental cars...

B. use the money to make additions and change our own house.. DH wants to gut and redo the kitchen, change the master bedroom to the other side of the house make it bigger and add our own bathroom, then change the other 2 exisitng bathrooms.. get rid of 1 and make the other bigger.. also he wants a secret room in the basement like a den/tv/gameroom with our pool table and a big TV...

c. Finally go on that trip to Ireland that we keep saying we will do, and use the rest of the money on whatever else we need...

d. None of the above... and add your own idea


ETA: we have no credit card or any other debts... we could use it to pay off the cars or toward the morgage but those are no fun....

 

[marybet]

I would choose "B". You'll spend more time in your own home and will benefit everyday from a remodel. Maybe scale back a bit on the remodel and still have enough for a trip to Ireland.

 

[KarenAylwood]

I'm voting for Ireland... only because I went for the first time this past August. We spent two weeks and it was AMAZING. Best trip of my life and totally worth all the money I still owe my mom

Also, that way you spent $$, had a ton of fun and still have $$ leftover to put into savings or put towards the cars/mortgage.

 

[mtblujeans]

I vote 'B'....at least that is what I would do in your situation. We spend more time at home than anywhere so I would do things there, first....then take a big trip later after saving up some money for it!

 

[NC Belle]

Well, I would spilt the money---invest (timeshare/real estate/home improvement) and rent a cottage in Ireland for 3-4 weeks as a home base with partial stays at various B&Bs and maybe some castles like Ashworth Castle in Cong. Paying down the mortgage and paying off the cars are always good to do---ease the mind.

Ireland has excellent shoppping---but the costs have risen since the Euro was introduced.

 

[Blondie]

Depending on just how much money you are coming in to, I'd splurge and do a few fun things for yourselves, with the rest I'd invest, invest, invest!

 

[pfishgirl]

that's the thing... we already have stocks and investments... we have college money for DS (15) and we already own a 1 week timeshare in Disney..


I'm still in a Toss Up

 

[Rafiki Rafiki Rafiki]

Can your home afford the added value of the remodel? If so, that's the way I'd go. Otherwise, I'd buy a home near Disney and rent it out to all my DIS friends....

 

[Disney Doll]

When we inherited $$ after my in-Laws died, we bought some more DVC points, remodeled our upstairs and added a bathroom and put some into retirement savings.

 

[Pugdog007]

Pay off the car. Or savings. It's great that you already have college paid for and investments, etc, but you can never have too much savings.

 

[pfishgirl]

Thanks everyone for the GREAT advice !!!!

 

[anewvance]

If you already own a timeshare in Orlando then i'd go for B! I'd choose C too as dh and I are going to Ireland for a wedding in May and my grandparents and mom when there last year and said it was beautiful. But redoing the house is something that will last. How about half B and half C? LoL.

 

[Pooh67_68]

I choose the trip to Ireland.

 

[thelionqueen]

I'd vote for B as well. Your home is your castle, sounds like you could really make it into a castle!! Good luck!

 

[Meriweather]

We're coming into some money soon too
The major share of it is going into our retirement fund, then a new car for DH and then to remodeling some parts of our home....so I guess since that is what we decided, I would pick the remodeling for you too

 

[chyam]

Have you thought about selling your home and finding one that is more to your liking instead of remodeling? Also since your daughter is almost out of high school will you need all that room once she enters college and then heads out on her own? It seems that when we need all the room in our homes we are to broke to afford it and once the kids are almost gone we can afford it but do we need it........does that make sense.
But if it were me I would do some fun things, and a few more sensible things.