What Home Projects After Home Purchase To Complete First

This Article On Home Projects After Home Purchase Was Written By Bob Vogel

You have purchased your home and you are done moving in, all the boxes have been unpacked and you are settling in nicely, what is there to do now?  Slowly but surely it is time to spend more money, but it isn’t on repairs, instead it is on that basement finishing, patio, deck, or fence.  Now I am not saying you need to find a magical bag with $30,000 in it, but if you plan it out properly, you can definitely get some functional spaces without breaking the bank.  I would like to walk you through and show you my thought and rationale behind this.

Home Projects After Home Purchase: Goals

First thing you need to do is put together your list of priorities on what you’d like to accomplish and in what order you’d prefer them.  In my situation, since my home was new construction, I knew I needed to have a fence pretty high up on that list.  We have a dog, and the thought of having to walk him every day instead of letting him out the back door seemed like a major hassle for us.  Another item that was pretty high on our list was a decent sized patio in our backyard.  It would be nice to have a space to put our patio furniture instead of having it just sit in the grass.  The final 2 items on the list would be finishing the basement and putting in a wet bar and bathroom as well.  This project might cost a pretty penny, so I am not sure how high on the list it would be.

Home Projects After Home Purchase: Priorities

After laying all the projects out on the table, it was now time to determine in what order we wanted to get these items done.  I think this was a fairly easy list to put together.  We wanted to get our fence done, potentially a patio, and finally the basement work if and when the money was right.  Alright, now that we got a list, it was now time to price out all these projects to see what we could afford, and what would take some time.  The first item we went to tackle was the fence.  We had a couple companies come out and the prices that we were getting quoted was $4,000 or higher.  This alone would just about be our entire budget we had allocated to spending on projects this year.  Something would have to give and it finally did.  Our neighbor approached us about getting a fence together and she has a friend who owns his own fencing company.  This would be perfect!  He came out, and came up with a quote of $2,300!  There really much thought here, I was sold, let’s make this happen!  We got our fence put up in July and that was one headache solved.

Home Projects After Home Purchase: Budget And Costs

As the summer last year was winding down, we had determined to not go forward with the patio and we decided to push that off to spring of 2016.  Now we are in predicament of do we want to go with look or functionality?  I simple concrete patio can be had for about $2,500, whereas brick pavers are going to cost at least $5,000.  I am a big fan of the paver patios, but I think in this situation, I can save a big chunk of money if we go through with the concrete.  This decision isn’t 100%, but it sure is close.  The final items on my list is the basement finishing.  Quite frankly, I can see doing this project in steps to accomplish what we need to get done.  There are 3 main components we need done: framing and electrical, drywall install, and floor install.  Our tentative budget to get this done is $8,000 or less if possible.  After this is finally done, the $5,000 bathroom could possibly be entertained, but that is a LONG way away.

Home Projects After Home Purchase: Keeping Up With The Neighbors

 No one has ever said you have to keep up with your family or neighbors, just go about getting your home and yard completed in a way which you can afford.  Also remember, it isn’t worth going into debt over to get these items completed, especially if you won’t see much return on investment down the road.  Doing this in baby steps is a great way to proceed because before you know it, you will have everything you wanted!  Make smart decisions and do your research!

About The Author: Bob Vogel

Bob Vogel is a senior writer for Gustan Cho Associates Mortgage And Real Estate Information Center and a licensed mortgage loan originator. Bob Vogel has a college degree in accounting and has been an accountant for many years before starting his career as a licensed mortgage loan originator and team leader for a national mortgage banking company. Bob Vogel will be writing in the coming weeks and months on topics he is an expert in as well as his life experiences. Stay tuned!!!

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