Finance Gets Personal

I knew that stopping the debt snowball to replace our heat pump and hot water heater was necessary, but also dangerous.

You see, once I get started on a home improvement project, I want to keep improving!

Here is my list of things I currently want to do to the house:

• Install a storm door for the front entryway
• Replace the water-damaged storm door that leads out to the deck
• Replace the door leading out to the patio, which doesn’t close right and has rotted in the corner
• Put new knobs and deadbolts on the doors (shiny brass is icky!)
• Tile the floors in the bathrooms and laundry room
• Replace our aging dishwasher, stove and microwave with stainless steel appliances
• Replace our aging washer and dryer with front-loading machines
• Remove the popcorn ceiling texture from the ceilings
• Replace the ceiling fan in our bedroom
• Replace the carpeting
• Get a twin-size bunk bed for my stepson to save floor space in his bedroom and make it easier for his friends to spend the night

Some of these are needs and some are wants, but I don’t want to use our debt snowball payments for any of them.  So, it might be a while…

Meanwhile, my husband has this itch to finish the basement (once we’re sure we’ve got the water problem taken care of).  I don’t really think this is a good use of our money, but he’d like to at least finish the “office” section of the basement before we have a baby (the current office would be the baby’s room).  So, we’re trying to allocate some of our budget toward that without sacrificing our debt repayment.

Conflicting goals are such a pain!

Photo Credit: M. Design Interiors Inc. by decor8, used under Creative Commons licensing 

On Friday, we received our $1,500 economic stimulus payment and a $213 state tax refund.

So, being proud Americans, we spent $3,467 on a new heat pump and $674 on a new hot water heater before the deposits even had a chance to hit the bank.

No need to thank us, America. We’re just doing our part to save the country…and not bake to death this summer…and have a hot shower that lasts more than five minutes…

Photo Credit: Be Patriotic or Else by Mike Licht, used under Creative Commons licensing

Speaking of emergencies, I’m concerned we’re going to have one if we attempt to paint our house ourselves. No, this isn’t our house, but it’s about the same height. Yikes!

We are definitely in over our heads, and we haven’t even started yet. Last night we watched “10 Things You Must Know About Exterior Painting,” and we’re sitting there like, “What? How long do you have to wait to paint after it rains? You’re not supposed to use flat paint? Those little clips do what?”

Yeah. So we are getting some bids this week. I figure it will cost us between $1,000-$1,500 to do it ourselves, so if it costs $3,000 for someone else to do it, it’s probably well worth it.
I have a feeling it’s going to be more than that though…

Photo Credit: Our Scaffolding by nuanc, used under Creative Commons licensing

If you haven’t heard of Angie’s List, you’re not alone.

Angie’s List is a website where members can access and submit reviews of local companies, contractors and even doctors. I guess you could say it’s kind of like a member-generated Consumer Reports for local services.

While some cities offer free trial memberships as initial reviews are gathered, access to my city’s list is $59 per year or $7.50 per month with a $15 activation fee. I signed up today.

But why pay a fee for advice you can get for free from friends and neighbors?

Well, in my case, we’re looking for a structural engineer to examine some potential foundation problems and don’t know anyone who has had this type of service done. Although a few people are supposed to be getting back to me with leads, I haven’t heard from them yet and am starting to get impatient.

But my $22.50 should pay for itself if the structural engineer I found is as good as the 16 “A” reports he’s received from Angie’s List members. I must say I’m a little disappointed in the sparse reviews in some of the other categories on Angie’s List however. I plan on cancelling before the next month hits my debit card.

Has anyone else used Angie’s List? What are your experiences?

I’ll let you know how the inspection goes.

(This post was included in the Money Hacks Carnival, hosted by Save and Conquer.)