Thursday, September 11, 2008

Reality check...

The build continues and it's going well, for sure. The contractors we've had have been more than capable and everything looks fabulous. The framing is nearly done and they will begin roofing it by tomorrow afternoon. Windows are soon to follow.

However, reality is setting in as we tally up the costs of all the options we've selected. At this point the house is WAY out of our price range. So, we're having to make some major adjustments in order to keep the house in our budget. We're frustrated to say the least. We've been prepared for it to be over budget all along and have been preparing ourselves. But it has exceeded even our over-budget estimations. Don't get me wrong - it's a beautiful house. The carpenters tell me that every day multiple people stop by and make comments about what a 'palace' it is, or how rich the people who are building it must be. Unfortunately, we're not that rich, so we have to scale back.

Since the basic house is already built, we can't change any floor plan stuff or any major components. The approach we're taking is geared toward reducing the labor costs of finishing the house by doing a substantial amount of work ourselves. From the beginning, we've talked about doing some of the work - not only to save some money but also because we enjoy that kind of stuff. We had moved away from that idea recently because we thought we could still afford it and because we've been placing a high value on our time lately. With another baby coming in November and a 2 year old at home, in addition to holding down 2 full time jobs, we are definitely stretched thin.

But alas, faced with trimming the budget by 20%, the time sacrifice is becoming far more appealing. It's short term - just the next few months - so it's not like it will consume our lives entirely. We'd rather make the investment in time now than be saddled with a mortgage that will strangle us for the next 30 years.

If you're interested, here's what we're going to do ourselves:
- The deck
- All of the painting for the whole house
- All of the trim installation on the second floor
- All of the built-in cabinets/shelves in the living room
- All of the built in benches and cabinets in the mud room
- All of the closet interiors
- The built-in desk in the upstairs hallway
- Hardwood floor installation on the main floor
- Tile installation for the kitchen backsplash
- Tile installation for the master bath tub surround

We're also going to be making some life style changes...everything is up for consideration at this point: cable TV, internet service, cell phone plans, eating out, vacations, etc... Over the next few weeks we're going to have some tough decisions to make, but we're still cautiously optimistic. We'll still get the house. We'll still have money to heat and light the house. We'll still eat and still be very happy, I'm sure. The road to get there is going to be a little different than we had anticipated though...but that's what makes it interesting though, right?!

Thanks for reading and wish us luck! If you have any special talents that you're dying to donate, feel free to speak up! Babysitting is always a good one!

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