Re: seriously how do you pay for it all??

It's not easy. One project at a time. When we bought our house, 2 months ago, we got a great deal on the house and still had money left over to do remodeling. Otherwise we plan to do one or two projects a year. It is overwhelming though. Saving and DYI is the best way to go.

Re: seriously how do you pay for it all??

One project at a time and we only do what we can afford to pay for... We haven't touched our line of credit or used credit cards or anything...

Re: seriously how do you pay for it all??

when we bought our house in 04 we used a 0% CC to buy some of the materials we needed. After that we have always saved up to buy what we need rather than do a line of credit or use CCs. we do all the work ourselves & that saves alot. We make it a point to get great deals on stuff we buy.
We have plenty of incomplete projects or stuff we haven't even started yet, its ok though we aren't going anywhere.

Re: seriously how do you pay for it all??

(I know I don't live on LI but am giving my two cents on this one) We have a small mortgage due to the fact that we bought our house before the housing boom, so we were able to borrow on our mortgage and pay a small additional amount each month onto our mortgage payments. It works for us, and we feel like the money spent is working for our house and we are enjoying all the nice things in our house!!!

Re: seriously how do you pay for it all??

We just bought our house a couple months ago so my input is for a short time. Basically, we are prioritizing our tasks, in terms of money and time. There are things I would love to do NOW, including removing the horrible striped and flower wallpaper in one of our bathrooms, renovate the kitchen, buy new furniture, and redo the laundry area, but we neither have money or time to do them now.

Like most people said, you need to pick and choose. Any urgent repairs need to be done ASAP, but some of the cosmetic things can wait.

Re: seriously how do you pay for it all??

One thing at a time and only what needs to be done at first.

Or you could take out a home equity loan. If you need info, FM me, DH works for Wamu.

Re: seriously how do you pay for it all??

Little by little. Sometimes I feel like it takes forever. We did a lot of work to our home but there is always something to do/change/fix.

Re: seriously how do you pay for it all??

Like the others have said - prioritizing is key. You should create a budget and a timeline for the projects you want done. And realize that it doesn't happen overnight.

Also - my husband is EXTREMELY handy. He is an electrician so we don't have to pay for electrical work. Also he is learning carpentry and has built me some furniture. We have friends who are also very good at restoration and renovation and we work with them and do for them in return.

We are also bargain hunters. Estate sales and the Habitat for Humanity store in Holbrook are great resources.

Also - I don't NEED the best of the best of the best. Yes - natural stone and granite are gorgeous - but if I want my counters done and I can't find granite in my price range, I am not going to have it. OR if it is imperative that I have something that is out of my comfort zone financially - I put it off and save a bit more until I am able to make room in the budget.

I guess the key is patience.

Message edited 9/12/2007 12:05:28 AM.

Re: seriously how do you pay for it all??

DH who is by trade a plumber does it all himself. We rarely call people in. If we call someone in then we save up the cash for the job.

Re: seriously how do you pay for it all??

We don't...I don't know how people do it, but we just do one thing each year that is highest on the list.
We plan on being in our home for a long time, so I don't have a sense of urgency regarding home repairs or improvements.
We do what we can afford.

Re: seriously how do you pay for it all??

We are huge believers in living well beneath our means. We bought a house that is much less than we can realistically afford to spend because there is no need for us to have anything larger right now. This is the main way we have money to spend on improvements, etc. We're also big savers, too.

We prioritize what needs to be done and don't try to do it all at once. In good time, it will all get done. Just be patient (and realistic) about what you can do now and what can really wait.

Good luck!

Re: seriously how do you pay for it all??

THANKFULLY, the previous owners renovated the entire house prior to putting it up for sale!!! We were also fortunate that the style they chose is our taste

The little things we want to add will get done little by little. We aren't in a rush

Message edited 9/12/2007 9:54:14 AM.

Re: seriously how do you pay for it all??

Similar to what Kara said, we bought well-below our means. While we could have afforded a house on Long Island, we bought a 2 bedroom co-op in Forest Hills (we also wanted a better commute and a more urban environment). While we do not have all the upkeep that a house has, our co-op did need work.

Like other people said, we have been prioritizing. The first thing we did was repair some walls (cracked plaster), paint, and have our bedroom carpeted. Now, a year later, we are redoing our kitchen But we would not have had the $$ to redo our kitchen if we had bought something at the top of our budget. Next year, we plan on doing the bathroom.

I think that if you just take one project at a time, it can be manageable. I also think it is important to distinguish between things that "have" to be done and things that you "want" to be redone and do the things that "have" to be redone first.

Re: seriously how do you pay for it all??

a little at a time
we figure
its HOME...so where are we going?

we are doing the insiide 1st
getting furniture, etc..then landscaping
for outside.

Message edited 9/13/2007 10:38:16 PM.

Re: seriously how do you pay for it all??

We'll be in our house 7 years in early October and its STILL a work in progress. We do 90% ourselves (DH is a big DIYer). The rest is done once we have the money to pay it in full. Nothing gets done unless we can pay for it all (we have no debts and want to remain that way). It took us a few years to get CAC and we are finally up to redoing our lower level into a family room and playroom.

It helps a little that when we bought in 2000, we probably paid 1/2 of what our house is worth today, and our mortgage is reasonable.

Message edited 9/13/2007 10:52:37 PM.