Should we renovate before brexit?

[pinkunicornsparkles]

We bought a house that's a do-er upper. We've been slowly doing it up. The very old kitchen is falling apart around us. To do up the kitchen we can afford it but would use up ALL of our savings. I'm wondering if that would be really irresponsible as we may need the money for god knows what after brexit. However, the kitchen realistically won't last so on the other hand will it potentially cost loads more to do up after brexit?

I have very young children, including toddler twins, both with significant special needs. As a result I'm struggling to keep up with the ever changing brexit, as day to day life is tough and I'm sorry if my question is a ridiculous one! But as a strong remainder I'm terrified by the whole thing.

If you are starting from scratch, the chances of you having it completed by Brexit day are extremely low.

When were you planning on doing the kitchen if there were no external considerations, just your own familiy needs and amount you can afford? Yes, costs might change after Brexit (labour costs in particular) but wiping out your savings completely is rarely a good move.

You were probably thinking of leaving it for a while. I'd stick with that plan, rather than make a decision in a panicky rush

Are both your jobs secure, or as secure as they can be? Do you have mortgage protection insurance? I would make sure you have savings to pay your bills for 2 months in case of redundancy, then go for it.

This is what I would have in place anyway regardless of Brexit.

Thanks for the reply @EdithWeston. So we have quotes for all the labour and the kitchen itself which we were going to ask to be done maybe November time (the kitchen units we want aren't available until then, but we can pre order). If I assume the labourers would have to honour their quotes? I may get them to confirm that.

Our income is going to go up from November as my DH is being promoted. I think I was hoping to re gain our savings using that money. We are pretty confident his job will be secure, and my income will be steady too. But I'm just feeling so unsure and having a wobble with the reality of a no deal brexit

Brexit is basically coming at the worst time for this. We would have no saving at all on the 31st October. I wouldn't have worried too much as I say jobs are secure and we will make the money back again but it seems crazy to go broke the month directly after brexit....

I worry about doing it up but also worry about not doing it up.

I would wait personally. The savings may be needed. I would not want to go.into no deal Brexit without a financial buffer.

You can then decide whether what you want and what you can afford are the same thing.

If you can get the work all done before early October, I would maybe think about it - but perhaps see if the budget can be cut to leave you some savings in reserve?

I would hang on to your savings for a while. As long as you have a functioning kitchen it can wait a while to be updated.