The back story: my husband physically built our house over 20 years ago {of course, I was 9 when he started building it so it wasn't really 'my' house at that point...} and he loves the house very much. In the nearly 7 years I've been living there, I've come to love it to. It's quite charming in a very rustic way.
It's also cluttered. And by cluttered, I mean that I think my husband might be a hoarder. We have a lot of stuff. I'm pretty good at culling through my things and getting rid of stuff I don't want/need. Husband is not good at that. And if I want to get rid of his stuff, I have to go into ultra stealth mode and basically lie to him. Which I don't like to do, for obvious reasons.
At any rate, it's our basement which is the worst. And the study and yard, but that's for another day. Now, I'll spare your eyes from any pictures of what it currently looks like. Let's just say that the basement is like a graveyard of broken, dusty, dirty bits and pieces of stuff. Plus all of my books and materials from college and when I was teaching. Oh, and the washer and dryer are down there too. {and the boiler and other 'boy' stuff, but I don't have anything to do with that}
I hate going down to our basement. In fact, I only go down there to do the laundry. Otherwise, I avoid it like some scary beast lives down there and is just waiting for a Maggie-sized meal.
The situation {not the Jersey Shore guy}: Tuesday night we had a basement finishing company come to the house and take a look at our basement. You know, one of those companies that comes in, draws out a plan for your space, shows you their product and then gives you the bottom line?
$35,000
No lie. The product is beautiful. And I totally want to get this done. But for that price, I'm really nervous. Now, the sales guy was fabulous. He had it all worked out that if we agreed to start the deal that night he'd shave off like $8,000 as long as I could give him a little deposit {like $250} to get the process started. And then, of course, there'd be the credit application and the financing.
So we got a sort of general idea of what the financing might look like: 8.99% for 12 years. 12 years!?!?!?!?!? It's essentially a credit card issued by this company. And that makes me a little nervous. It would be like $300 a month, but for such a long period of time. And my husband figured out that with that interest rate we'd end up paying almost $16,000 just in interest.
Yikes.
So husband and I had a little pow-wow about this during the presentation and decided that we didn't feel comfortable doing this right now. It's not really about the monthly payment, we could come up with it. But it would mean not putting money into savings every month and then what happens if our cars break down or something?
By the way, that quote didn't include the flooring. Because we can do that on our own...
So, has anyone gone through this situation? I really really really want to get our basement finished, but not at that cost. It's likely when we decide to do it that we'll take out a HELOC or an unsecured loan at our credit union, which will have a much lower interest rate. Or maybe we'll win the lotto and I won't have to worry about it.
Suggestions?
P.S. go see Andrea and check out her 1 year blog anniversary giveaway! and don't say I never have you anything fun to do!
P.S. go see Andrea and check out her 1 year blog anniversary giveaway! and don't say I never have you anything fun to do!



































































