Prepare your budget for the renovation money monster

SAVE UP FOR HOME RENOVATIONS   Things always get in the way whenever you’re planning to do renovations especially when you’re doing all the work yourself. Time is the biggest factor quickly followed by money.   If you are planning on selling your home you know it’s very important to do your research to find out what renovations really are money well invested rather than wasted. If you put more money into your renovations than you really need to than you may not recoup the cash when it comes time to put that for sale sign on your front lawn. Talking to your real estate agent is a great start if this is the route you plan to take.   Real Estate agent   I have plenty of renovations in our house to get done even if we were planning to sell which we talk to our agent about yearly when we meet with her so we know if we are still on track with renovation ambitions. At the end of last year and the beginning of this year I told you that for this coming 12 months the plan around the house was to update the bathrooms. The upstairs […]

A leaky shower: Watching your cash flow down the drain

DIY HOME IMPROVEMENTS FOR LESS It pays to be involved in the workings of your own home and understand what happens when something goes wrong so you can be fixing items the frugal way. I’ve always prided my self in the fact that I have never had to call out a trade in an emergency situation, but I do call trades in to complete installations of services. It all seems to have happened in and around the water system this past few weeks. First, the water drain for the kitchen sink blocked up and wouldn’t shift when using a plunger. Liquid plumber was used to release the build up inside the trap as the trap for some reason is not equipped with a clean out. Once the standing water was drained, part of the problem was solved. The trap clean out part of the problem that has been noted and will be dealt with during the kitchen renovation. The second issue was the opposite of not draining. Having our inner tank of the water softener split on us earlier in the year and replacing the water softener myself things have been running smooth. That is, up until a few weeks ago when the shower started to leak on a […]

Reader question: When should you renovate your new home?

Renovate Your Home When It Is Right For You A fan sent me an email the other day and asked me the question, When should you renovate your new home? He said that him and his wife had just bought a home and they weren’t sure if they should renovate before they moved in or after they moved and wanted to know what we did when we bought our house. Home renovation checklist It was a question that I really didn’t have to think much about because we are in this position now. We did not renovate before we moved in and preferred to save the cash first before renovating. When we bought our home I created a checklist so I knew exactly what I needed to do although over the years it seems the list keeps growing. It was easier to read my list as I was going along rather than trying to remember in my head. Every smart planner will have a list so they have information to fall back on. There is no custom list here, you design your own. Grab a piece of paper and start making notes. I also wanted to have the opportunity to […]

You’re cheap if you decorate rooms frugally

Things To Do When Moving Into A New Home No I don’t think you are cheap and you will never hear me say that, trust me. A friend of my wife who has a great job in a senior level position as does her husband feel that we are too cheap when it comes to decorating our house. I guess everyone has their own definition of cheap and frugal but for us it’s simply spending less when we can. We know loads of people who skim the online ads looking for a deal in their community. Newlyweds and those moving into their first place typically have what they acquired over the years living at home or while away at school. With more and more students exiting school with student loans that may take them years to pay off scouting for discounts on home décor is worth the effort, in my opinion. New home new stuff Everything in Cheryl’s house (changed her name) is pristine and has the price tag to prove it. When we were house sitting their cat on the weekend just going inside their house alerted us to the smell of a new home. She keeps it immaculate […]

Best Home Renovations-Money Wasted or Money Invested?

Buying a new home also means looking for the best new home renovations or upgrades that fit your lifestyle. When selling a home different renovations can either mean money in your pocket or potentially money out the window. After I’ve shown clients the first few homes in their new home search, we often discuss my “Real Estate Baseball” rule of thumb. What do I mean by this? Three strikes and you are OUT! As soon as potential buyers can tally up three perceived “defects” in your home, they aren’t interested any more (it should be noted that this is by no means scientific). You can’t make a first impression on potential buyers again, so, you need to make a great one at the beginning! I often talk with clients about renovations and Do It Yourself (DIY) projects so they can make the right informed decisions. Sometimes renovations can add to a home sale, but other times they just become another stressful event associated with selling your home and wont generate the return that you are looking for. Here is a list of potential renovations that I often discuss and recommend with clients. 1) Painting When my clients walk into a freshly painted home, […]

Being Budget Savvy with the Guest Room

Being Budget Savvy with the Guest Room One of the things many of us with financial problems dread most is having guests. Yes, believe it or not more than the tax man, more than a blind date, and more than going to the dentist hosting others can be a major headache. It’s not that we dislike people but a strange feeling comes over us that although our homes are the perfect setting for us they aren’t the best match for guests. We worry our humble abodes don’t have what it takes and as a result creating a setting for friends or family is too pricey a venture. This, however, is far from the truth. Much of what it takes to establish a modest guest room can be done on a simple budget and in most cases once it’s set up maintaining it is easy. That being the case, with the summer vacation season fast approaching here are a few tips for designing a guest room on a budget in time for the summer guests. Locale Guest rooms can be in just about any space in the home as what matters most is how you intend to use it. For instance, […]

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