Thursday, June 21, 2007

Remodel: The finances

As I sit here, at the beginning of a summer that I thought would be full of "extra money" and I'm now worried about making it through the summer, I thought I should actually take stock of where all that money went. (Scroll down for the grand total in red--the list is for my notekeeping)

Besides the basic remodel money, paid to the contractor, here's where money went since January (for the house, of course)

Title Company fees: $200

Plat of Survey: $300

Drywall in grandma's room: $150

Phone jack and wireless adapter for computer (no phoneline in grandma's room) and cordless phone with extra handset: $134

Track lighting and bulbs: $42

Extra smoke detector in grandma's room: $60

Threshold between bathroom and existing room: $7

Additional amt. for double shower: $200

Custom-made shower door: $720

Rug and towels and bathmat for new bath: $30

Medicine cabinet: $58

Hardware for bathroom (towel racks, toilet paper holder for new bath and back of bedroom door, toilet brush, drawer knobs in silver): $64

Materials for shelves in bathroom: $37

Accessories for bathroom (soap dispenser, toothbrush holder, garbage can, clock): $22

Overage for marble tile plus grout sealant: $85

Sheets, pillowcases, throw pillow, comforter, bedskirt, pillow (our room): $150

Accessories for bedroom (candle holders, photo): $66

Closet organizer: $90

Mounting hardware for TV and satellite: $80

Carpet overage (our room): $325

New air purifier: $60

Corner shelf for bedroom: $28

Upgrade to ceiling fan and switch: $43

Doorknobs (6 total) and doorstops: $66

Insulation and weather stripping for both attic doors: $31

Materials to run strings for lights in attics: $4

Comforters and shams for girls' room: $105

Accessories for girls' bedroom (letters): $16

Carpet (girls' room): $460

Materials for T's comforter: $12

New toilet, seat, and installation materials (downstairs): $418

New vanity, medicine cabinet and over-toilet shelf (downstairs): $346

New sink, sidesplash, faucet and plumbing supplies (downstairs): $237

New shower curtain (downstairs): $20

Blinds (kitchen): $25

New baseboard trim (kitchen): $10

New doormat in kitchen (trashed by water): $7

New light fixtures (outside bathroom and kitchen downstairs, top of stairs going up): $33

Curtain rods (our room, girls' room; T's room): $76

Curtains (our room, girls' room, T's room, valances for kitchen): $116

Shades (our room and girls' room and top of stairs) plus mounting hardware and handles: $70

Furniture (dressers for our room, C's lingerie chest, bedside tables, new couch): $942

Storage totes (big for storage areas; small for kids' rooms/closets): $40

Paint (drywall primer; gray paint; pink paint for girls' room; green paint for basement; white paint for stairwell; off-white to re-paint all ceilings) and supplies: $400

Stain, varnish, restor-a-finish: $50

TWO filters for wet-dry vac (changed after getting moldy vermiculite out): $30

Replacement prybar that disappeared when the drywallers were working: $8

For a grand total of just under $6500

That is not counting miscellaneous extra money spent on eating out and/or convenience foods because we had no time or ability to use our kitchen or because food was tossed out due to water damage--an unknown amount, but probably a couple hundred

And we still have to buy:

Paint and supplies to repaint rest of exterior of house: $200(?)

Gutters and downspouts to match new paint: $350(?)

Now the portion of these items that related ONLY to the upstairs remodel comes in at about $4140--without the things we still have to buy. That's amazingly close (when you add those things in) to the theory of expecting a 10% overage.

AND if you would have asked me beforehand, I'd have thought that several things were included in the price of the remodel. Things like doorknobs and bathroom hardware and a medicine cabinet seem to be part of the whole package, but what do I know?

At any rate, I guess I'd say that, if you're going to remodel, make sure you have at least 10% buffer, and you might not want to do any additional projects until you're sure the entire remodel is complete. (just my humble opinion!)


New Mama said...

Wow, you really kept track of every penny. A woman after my own heart!

I'm sorry money is so tight right now. It's always something...

suzee said... and improved home, priceless.


You won't regret it.