Everything must go! No, not everything, but quite a few things are being personalized at the MMM house these days. Since we decided to keep our small pad, we decided to really make it our own. Instead of spending gobs of cash and, subsequently, future wealth on more square footage, a bigger mortgage, and higher taxes, we’re using some money right now to make our home the best it can be. Read how we nearly committed financial suicide just before starting this blog here. Afterall, we plan on living our lives and raising our family here.
The Land Down Under
The only way to give us a little extra breathing room without upsizing our home is to finish our basement. We have a total of 1,300 SF under our feet just wasting away storing our junk. We’ve decided to get rid of the junk and put that space to good use for our family.
The ink is nearly dry on our basement renovation contract! Well, not exactly. We’re still waiting on our builder to get back to us with the updated version after making a few minor adjustments. But, as soon as we have it in hand we are getting this project rolling!
Hint: Look for an upcoming Basement Series to hit Mad Money Monster.
In Addition To The Basement…
As I mentioned in earlier posts, Mr. MMM has a variable and unpredictable salary. It truly is feast or famine in these parts. My salary is enough to cover all of our expenses, including maxing out my 401k and a small amount of savings on top of that. However, we’re not going to blaze a path to early retirement without additional resources coming in from Mr. MMM. Lately, Mr. MMM has been doing really well. We’re utilizing a portion of his income to pay cash for all of our home improvements and the rest towards eliminating debt. So far our improvements have included fresh paint, new bathroom hardware, and updated light fixtures. I really feel like we moved to a new house. It’s amazing how these small changes have made a huge impact on how we feel in our home.
At times I cringe at the amount of money we are spending on finishing the basement and various other improvements, until I remember how we nearly purchased at 3,000+ SF house last year that we really couldn’t afford (another reference to our financial suicide post – it’s really good). And, this is not just money down the drain. Because we are being extremely cautious with how much we are spending to complete the basement, and having it done by a profession with permits, we are increasing our living space…and the value of our home. Cha-ching!
Everything AND The Kitchen Sink
Yes, we are spending some money. No, we don’t feel guilty about it. Why? Because we made a smart financial decision to stay in our small home and we have the available cash to direct toward great design. In an effort to not be completely frivolous, we have decided to keep our current kitchen cabinets and counter tops and upgrade only the sink and faucet for a new, polished look. Check it out. Completely changes the entire space! Oh, and just for the record, I do love granite, concrete, and all the other fancy shmancy choices out there. We’re just choosing to not drop more cash in the kitchen – for now.