🔺 r/personalfinanceuAloneExamination242·51 days ago
Would I be crazy to drop ~30k (that I can afford) on in-unit laundry?
Hi there, I'm hoping for a sanity check on some home improvements. I live in an older high-rise building in a major (HCOL) city, where there's a shared laundry room that is driving me nuts: the machines are broken or in use half the time, I feel like I'm chained to the building for a couple hours whenever I do laundry, I have to keep a stupid key card etc. Because it's an old building with very particular plumbing criteria, I can get it in-unit put in but it'll be very expensive: approximately $30k all in including labor, materials, the actual machines, permitting, etc.. This is from a contractor whom I think is trustworthy; I've gotten a lower estimate from another one but the one with a high estimate actually showed up, took measurements, spoke to the building engineer about requirements, and so forth, so is much more trustworthy. I'm thinking of pulling the trigger on it. But the dollar figure is giving me cold feet. I'm kind of hoping folks here will either reassure me or explain to me why it's nuts. FWIW, I have plenty of money and can actually easily afford it (47, single, no debt except a very cheap mortgage, no kids, gross income upwards of 300k annually, net worth north of…