UnThreaded | Threaded | Whole Thread (4) | Ignore Thread Prev | Next
Author: 2old4bs Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 1488  
Subject: Re: Remodeling my retirement abode Date: 3/28/2006 4:26 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 1
Prior to retiring I used to spend very little time at home. After my first attempt at retiring I spent enough time at home to realize that my decor was really boring and not optimized functionally for post-retirement life. So I decided to remodel.

Because I work from my home, a pleasant environment, along with things that function properly are important to me, so I understand what you're saying.

Setting a realistic budget

I have found the best way to strike a balance is to figure out how much one can realistically expect to recover for the type of project you are doing--and then I don't go above that figure.


When I remodeled I went over everything that needed doing with my contractor. He supplied the basic construction materials and gave me a fixed price for his part of the job. I then made a huge list of all the things I was required to purchase, which included all the plumbing fixtures, light fixtures, cabinets, tile, countertops, carpeting, paint, sinks, bathtub, med cabinet, etc. Next to each item I placed an estimated price. Sometimes to get the estimated price I had to visit Home Depot online, and although I didn't use their lowest-priced items, it did give me an idea of the cost of things.

Once my list was done, combined with the fixed contractor price I had a budget. So, when I lusted after something that was priced above my estimate, I had to save that money somewhere else in order to buy the more expensive item. Without my list, I don't know how I could have disciplined myself. One visit to Expo and it's easy to see how lust can take over.

I'm very comfortable now, and I'm pleased as punch with my kitchen!

2old
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (4) | Ignore Thread Prev | Next

Announcements

Post of the Day:
Macro Economics

2.1: The Labor Pool Problem
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement