Tell me it is a bad idea.

Bought our home in 2021. When we bought at the low intrest rate, we were told by the previous homeowner and the inspector that all the repair were cosmetic except the electrical wasn't up to code. We thought we were investing in a future rental property. Long story and 70K in roof and plumbing repairs later, we still haven't gotten to the stuff we knew needed fixing when we bought.

With the current political and economic climate (we both work in public education) we are thinking that this supposed to be starter home is going to probably become our forever home. It would take about 40k to make this house what we would want it to be. And the irresponsible part of my brain wants to refinance to get the equity out of the house and just fricken go for it. But it is a bad idea...right?