The day we’ve been waiting for is almost here.  On Monday, my 34th birthday, we close on our new home.  Of course, I’m super excited to get started on our home renovations in preparation for our move.  But, I’m also dreading it.  Why?  Because we’re going to have to spend money.

Bracing For the Spend

Some things are inevitable.  Sure, we could’ve found a house that was move-in ready.  Maybe.  I might’ve been able to find a house where I loved all of the paint colors and carpet.  Highly unlikely.  But instead, we found a house that it a little bit of a fixer upper.  Mostly, it just needs new carpet, but not because of the color, but because it’s highly worn and somewhat stained.  The house also needs some work in the kitchen (cracked, mismatched countertops), a whole lotta paint, and some general TLC.  So, what are the costs?  Here is the basic rundown of our home renovation plans:

  • Carpet: $5,000 (approximately 1,500 sq. ft. of carpet at $3.00 per square foot including tear-up and install)
  • Countertops: $2100 (includes tear-up of old granite countertops, removal of sink and hardware, and installation of new countertops sink and hardware)
  • Paint and Supplies: $500
  • Tile Installation: $900 (includes installation of tile flooring in office and backsplash in kitchen)
  • Custom Kitchen Cabinet: $350
  • Minibarn: $1,000

Fortunately, there are all worst-case scenario estimates.  I am hoping that there isn’t quite that much carpet, for instance.  I just had to guess for budgeting purposes but we’re having it measured on Tuesday.  I go back and forth on the countertops- the estimate I’ve included is the a fairly low grade granite.  However, I’m still looking at other options including laminate and corian.  Unfortunately, the cheaper options are not all that cheap either.

Dreaming of DIY

I wish we could do more of the work ourselves, but we’re not all that handy.  We’ll also be short on time since we only have 19 days to get our house painted and remodeled before we move in.  And since we’re renting while we remodel our new home, we’re trying to speed up the process as much as possible.  After all, if we don’t move out in January, we’ll end up with a house payment and a mortgage payment in February, as well as two different sets of utility bills.  No thank you.

We’re doing all of the painting ourselves, but we’re having the tile installed by a general contractor that we’ve worked with before.  After all, I don’t have much practice installing tile and I certainly don’t want to “practice” on my own house.  I have to live in it, after all.  The company we bought carpet from is doing the carpet install, which seems like a smart move.  I would hate to see carpet that I tried to install myself.

Easy Come, Easy Go

I take comfort in the fact that we got an awesome deal on our house since it’s a fixer upper.  Obviously, all of these needed repairs were accounted for in the relatively low sales price.  Still, it hurts to watch that much of our hard-earned money fly out the window.

I’m also more than ready to put this spending spree behind us and move on once and for all.  And fortunately, our new house has a 2 year-old roof and a 4-year old heat pump, which makes it unlikely that we’ll have to spend much after the initial remodel.  (knocking on wood right now)

I know that spending is inevitable sometimes but it’s still painful, especially when we’ve worked so hard to save.  But, I guess that’s a good thing, right?  Maybe it should hurt. 

Have you ever struggled to spend a large amount of money?  Even on something that is important?