Your dilemma really depends on how long you plan to live there and the obstacles of enjoying your stay more. An updated house will sell for more, which is usually the main motivation to invest the money. But I also have empathy for your fiancé as to what is actually necessary versus desired.
Making double payments will save on interest in the long run of the loan, but if you have no intention of sticking around very long it doesn't make as much sense to do this.
I suggest you try to compromise with him pointing out the profitability of updates and future comfort. As to which updates to do, I suggest you visit your neighbors houses and see what they have done.
A big part of owning a home is having it reflect your life style and desires to the extent you can afford it. A home is a mix between a forced saving plan and a happy place to live. It is not an investment per se. That said, the question here isn't a financial one, it is a compatibility and marriage question. How will the two of you go through life resolving your differences of which this is only one? How will you reach compromise? There is no right or wrong which is not what you want to hear. It is can I live with this person who's outlook is so different from mine. Think about this before you invest more in the relationship
It is his house and he apparently does not care what you think. You said that it had no functioning kitchen sink for a year. Beyond the facts about the house--what future is there between the two of you if the two of you can not work this out.
When you sell a house almost everyone still has a mortgage. The balance is paid at closing and the seller gets the balance after all expenses are paid.
It sounds like what you want to do are more in the realm of deferred maintenance than updating. There are certain things like the hole in the bathroom flooring that a buyer may request be fixed before closing. It sounds like it would be in his best interests to make the needed repairs to the house rather than pay it off faster. Then he can get more $ for it when you guys do choose to sell.
When it comes time to sell it really does not matter if it is paid off or not but fixing all the deferred maintenance DOES!
u go get a library card and use it.
your concepts may be right or totally wrong.
u may want 'modern' things in there and u will make the
house a white elephant in a lemonade sale.
u and he need marriage counseling b4 this gets to a divorce issue.
seriouly.
if he is happy and wants a Debt Free house, not a debt ridden under
renvoation$ house then u get to choose your options.
families can and are raised in 'dated' house all around USA and the world
many kids become more successful than brats in 'modern' houses.
read books on 'minimalist or tiny house' movement also for enlightenment.
You would have to address your thoughts and ideas to your fiance. He might have a financial plan that after he pay the mortgage he would attack the needed repairs of the house.
He might have no intention of ever repairing things in the house.
If his plans do not match your ideas about the repairs of the house, you might consider alternate plans for yourself.
It appears as if his attitude is as long as it is functional it make no sense to add hard earn money to it.
I have read of many rich people with this mental attitude.
I hope this has been of some benefit to you, good luck.
"FIGHT ON"
Of course you should update it. If you don't, you might end up with no mortgage at all. That could be tragic. Not having mortgage payments to make could make life way too easy. The horror of it makes me shudder.
The real reason might be if he owns the home outright before you get married, then it won't be included into the marital assets. He'll be the sole owner.
Shortly before I met my fiance he bought a house that was extremely dated. Most purchasing this house would see it as a fixer-upper. It was built in the 40s and slightly updated in the 70s. I see tons of things that need updated or just plain replaced. Problem is, he thinks the home is just fine the way it is ("If it ain't broke don't fix it" mentality) and instead of putting money into updating or improving the house he wants to make double payments on it and pay it off early so he can sell it.
I know next to nothing about real estate but to me this does NOT seem like the way to go. What route is best??
