You're not (the only one). Earlier this year we spent an outrageous sum relandscaping the front yard and doing a nearly whole-house remodel -- but not our master bedroom, bath or the backyard! And we haven't finished in the family room (no mantle or built-ins around the fireplace yet) because I just got tired of spending money.

But it wasn't really fatigue -- it was that nagging feeling in the pit of my tummy, esp. after I added up what we'd already spent. And with the news media reminding us throughout the day, every day, of the poor economy and sinking dollar I just felt, feel, uncomfortable moving forward.

I am astounded with the scope of projects about which I read / hear / see, and some contractors with whom I've spoken have told me that they're not hurting for business at all, which I find both astounding as well as confounding. I cannot be the only one (well, now thanks to you I know I'm not!) who is concerned about putting even more money into my house in these uncertain times.

The GC who handled the remodel talked to me about it in a surprising way, meaning, he was surprised that people were moving ahead even with rising material costs, etc. A landscape contractor with whom I was thinking of working talked to me about it in a snarky way, intimating that I "must be doing something wrong" if I wasn't prepared to sally forth tout de suite. Puerile, yes I know, but it hurt my feelings, his suggestion that I was the only one in my state who worries about my financial future. (I'm exaggerating, but I was really taken aback by his words, his tone and his suggestion.) In hindsight, I think he was annoyed that a big-budget (~six figures) project was being denied him in the short run. (and now in the long run!)

Instead, I've started doing some of the more manageable work in the backyard (along with my four and two year-old helpers -- ahem!) and it has been incredibly gratifying. Hard, sweaty work, but I am so pleased with the results! And, like you wrote, it's smaller spending. (like, I purchased a few trees and planted them myself)

Anyway, NO, you are not the "only fraidy cat out here"! But caution is a good thing -- it shows we're listening to and respecting ourselves and intuitions.

"We've got sufficent reserves to weather us through a job loss (both of our employers are going through some changes, which makes things a bit iffy). But it's not as though the "project" money could be the only thing between us and the bread line. "

Sounds like you are in good financial shape!

I would have the work done and enjoy it. Things will only get more expensive the longer you put it off....

I agree, if you are in fine shape, why not? When you are secure financially isnt money to use to better ones surroundings and to make life more enjoyable? I think so. I look forward to that day myself. Life is too short not to enjoy what we can when we can.

Jakabedy, The fact that you are asking this question tells me that some inner voice is talking to you. That, and the fact that you mention that the employers are in some 'iffy' times, tells me that you know what it means to be cautious.

I'd wait on the landscaping until you can fully enjoy it.

We're in the same boat as you...and we are holding off on some things.

So what will be different in the Spring? More info on your job situations?

Barring recklessness or common sense to your situations, I say enjoy yourselves now!

You guys are all taking up positions on either shoulder! If only I could tell who had the halo and who had the pitchfork. I think I have agreed with each of you, variously, over the last week or so. Such a dichotomy!

I have to say, the yard would look beautiful if we got the work done. It's awful to live in a glass house and not want to look outside because it is all so scruffy. And we're not talking about a fortune here compared to other projects folks here have taken on. Heck, it's less than the "Curb Appeal" budgets I see on HGTV! But even though it isn't quite even five figures, it's more in one chunk than I've ever spent on something for the house. Maybe it's just the fear of writing a check that big for something I can't drive to work.

What would be better in the spring? I guess I'm thinking some rumored office closings by my employer would have happened already, and DH will know if he will be on his current contract for another year. Also, I guess I'm thinking we could save up the needed landscape money on its own by that time, so it won't affect the little nut we have now.

But of course by then I'll be just as attached to that money as I am to the current money. . .

I think I must just be more insecure about our "reserves" than I first thought. As long as the project money is sitting there, it is a reserve. Once it is gone, it is gone. Deep down I think my biggest worry is BOTH of us being out of work at one time. The reserves aren't really set up for that, and that is my worst-case-scenario fear. Sadly (especially for my sweet, optimistic DH), I tend to run my life based on worst-case scenarios.

DH asked me if we had the work done, would I be nervous and blame myself if we needed/wanted the money for something else later. I told him, of course I would, as I always am. He didn't want me to feel that way, so thought we should call it off, too.

I think I'll have to pay attention to my instinct on this one and sit still for a while. Perhaps I can take a portion of the money and apply it towards a therapist rather than a landscaper.

jakabedy, is there any part of the project you and your DH can do yourself to save some of the money?

Life is short, enjoy, while you can! think of it this way, your helping to stimulate the economy, the people you hire need to earn a living too, they may not be as stable as your family, because of people holding back.

Jackabedy: It sounds like you've made your decision, for now until Spring, at least. I'm with you on it, not that it matters much, as this is YOUR life. You sound like you know yourself well and that you think things through thoroughly. I admire that deeply. It is a great quality. You will get your work done when you are ready. And like someone else mentioned, perhaps you can do some of the work together, with your DH, which would save money certainly, as well as give you some extra bonding time, if you are really antsy to have the yard that you desire. :)

Good luck!

It sounds like a good chunk you're talking about and you're not really feeling secure enough yet to part with it on luxuries. So, I'd hold off. Nothing like peace of mind! esp when something happens later. Your gut may very well be right.

Maybe you can stick a few big potted plants, some hanging ferns ... in front of the big windows or something : ) Even a pea gravel laid for a patio set area could look very nice temporarily. Look at some French sitting areas done like that. Simple DIY and could be dug under into the earth later.

I pull no punches. I call stupid for what it is and make no apoligies.

We built our home in 1991. We put nearly every dime of our money "down" to build a home we could live in. We moved into a home with electricity, plumbing, and sheetrocked walls. We lived in 2 rooms on the first floor and the only functional (above grade) bathroom was "upstairs". So was our "kitchen" (sink, 24" gas range, we still use it!) and the 'frig., that was it. We used a laundromat for the best part of 6 mos. after we moved in and we don't presently own a dryer. We don't miss it, either. Everyone told us we were NUTS. But we worked "dub" jobs (sometimes more than one) and we spent our after work hours working on our home. We did the same thing with vacations. It was a lot of fun for 2 intelligent, motivated people with a similar, long range focus. If you have the money set aside for the work you want to see done, then GO FOR IT, and by all means, see if the lure of CASH won't lower the cost. If you have to borrow to see the work done... sit tight. This isn't the time to borrow to get things done.

This is the time to sight tight. Turn off the lights when you're not using them. Minimize use of cars. Pay to prinicple on your mortgage every month, and make a 13th. payment as a Christmas gift to yourselves every year!

I was always freaked out by money, rather, the LACK of it. The helpmeet labored under no such burden and I've learned to relax in that way while he's learned that my fear of "not enough" has importance, too. We have learned from each other and respected each other even more over the years. Bein' "flush" is the most liberating feeling in the world!

Hope this helps.

I would heed the inner voice, as it always has something important to say. One of the problems in our culture is not being able or willing to delay gratification. The project will still be there in the spring or whenever you decide to do it, and you will be at peace about it.

Jana

We just celebrated living in our house 11 years this summer. Since the day I MOVED IN I wanted to redo the front of the house with a wow factor in landscaping. NEVER Wanted to spend the money. When is it really EVER A good time to shell out money when truely it is something purely cosmetic? This past spring I did the landscaping and it gives me IMMENSE joy to see the front of my house, I love neighbors ooh'ing over it and just makes my house really stand out. My only regret is I didn't do it years ago. I definately say go for it. You aren't ever going to be "excited" shelling out money for landscaping but you will be glad you did.

You guys are all very helpful, even if the opinions differ. The work involves dragging out some old raised beds (about a 25' x 35' area), and then filling, grading and installing some drainage. Also digging out/dragging out some older planting areas. Then plants, sod, 125(!) bales of pine straw and some flagstone. Now that I write it all down, it sounds like a deal.

DH has been saying for a year he's going to tear out the old beds and get rid of the landscaping timbers/RR ties, but it hasn't happened yet. We just have other things we need to do/WANT to do more than to DIY this yard. That's why I got the designer out to begin with. We are much more about fixing up the inside of the house than the outside.

I DID get him and a buddy to commit to running power down to the gate so we can have a light down there. maybe that will happen this fall . . .

Hmmm. I feel like I'm talking myself back into it. . . Maybe I can negotiate the price a bit (good idea, whoever said that!)

We're in the middle of a very slow diy kitchen remodel. I suggested we put it on hold for now while we still have counters and a stove, but DH reminded me that the heat has been disconnected, and we need to put the new floor in before the heat can be reconnected. Of course installing the new floor means removing the counter, cabs, and appliances. Soooooo, if we want to stay warm this winter, I guess it's full steam ahead.

We bought our house last year with the intention of a full-house remodel. With the exception of the fireplace, which has to be done for comfort and safety reasons, our remodel has been scaled back to ... me painting (and I did replace the old water heater with an on-demand last winter to get it out of the house). Yup. No new facade, floors, doors, insulation, windows, trim, kitchen, bathrooms, master bedroom, office built-ins, etc., etc. Just paint.

We won't be doing anything that we can't pay for right away for the next several years. My goal is simply to make the house as comfortable as possible without taking on any debt.

(DH lost his job last winter due to industry changes/shifts as well. While it's been great for the kids to have an at-home parent, the loss of salary and benefits has certainly turned our former luxury lifestyle into one of coupons, savings bonds and leftovers in lieu of dining out.)

Happy, no one understands your circumstances more than I do. Our kitchen is appalling; a sink, minimal counterspace, a 24" gas range, and 'frig. that was the cheapest one available c. 1996. None of it bothered me one whit, because it was all PAID FOR.

As long as it's paid for and doesn't present too much inconvience I can deal with it! I get crabby, downright snarly, when the bare necessities don't work! that's where I draw the line.

IMO, you guys need to finish the kitchen. If money is tight, you need to scale back your choices on appliances, countertops, and other appointments.

While it's none of my business... do you OWN your home are are you paying on it monthly? Do you pay extra every month, "earmarking" the extra to the principle of the note? And do you give yourselves the best Christmas present ever by paying one "rounded up" mortagage payment designated to the principle of the unpaid portion of your outstanding mortgage?

This is all really "old fashioned" but in view of what's happened on Wall Street in the past few days it may just be some of the best advice some of you will receive.

Live BELOW your means, and pay to principle every month and again, once a year!

We are sitting in almost the same place as you. We had planned to build a garage this fall, but with the increases in building materials, the uncertain economy, we have decided to wait until spring. We've gone 7+ years without the garage, we can wait a little longer. We shingled our house earlier this summer and since then the shingles alone have gone up almost double what they were in May. We are hoping, that for us, the cost of materials will come down by spring. And if not, then we may have to decide if we bite the bullet then or not.

My DH was injured at work last year and was off almost 5 months. Yes, we did get workman's comp but it didn't cover what he would have earned had he been working. We now look at things a little differently than we did before then.

I was young and recently married in the 70's when mortgage interest rates hit 16% and know that we were lucky to both have jobs that were not greatly affected by the recession then. This time it could be different for us. Especially as we are now nearing retirement...

I would follow you instinct even if you don't agree with it. When I haven't done that I have always regretted it.

If you waited till Spring and things went south on the job scene, how bad would that be? Would it be bad---causing upset and concern and having to put together a new plan? Or just not so great? I think that would make the difference for me.

Wait.

Red

Always trust your instincts! Texanjana has it right.

If you just want to feel better about delaying, tell yourself how much easier it will be on the plants not having to adjust to their new environment in the winter. :-)

It really doesn't matter why the money leaving the account bothers you - it doesn't have to be logical, if it bothers you, don't do it yet. Could be an emotional thing, could be an intuitive thing - I have noticed that the times I decide not to spend, something I did not expect comes along; like, say, an air conditioner - or car repair - or emergency pet surgery - something else that yes, I could have afforded in addition to whatever I was spending, but I felt much better handling the crisis in spending after having walked away temporarily from the other, "optional" project. If you sleep on it a few days, or weeks, and then decide you want to go for it, do. That's my one cent....

Terry, sitting on the money for the kitchen backsplash...

We are delaying our big remodel and we don't even have a mortgage anymore. I paid extra each month and we finished a 30 yr in 21.

But that doesn't mean we aren't doing anything. We did a complete master bath last year, and this year doing some minor work in the master bdrm - new flooring, all new moldings and casings and paint. Even minor improvements make a major difference and do much to improve our spirits too. :)

Susan

I have the same pit-in-the-stomach anxiety. We bought an old farmhouse last December and have been fixing it up with the intention of moving in. We paid cash for the house, but have already sunk about $73,000 into "improvements" including a modest master suite addition, new foundation piers, and a wrap-around porch. The remodeling so far has drained a significant portion of our ready savings and yet little work has been done to the interior. I am extremely nervous about the craziness in Wall Street and the economy in general, and am thinking DH and I need to hold tight and don't take on any more financial liabilities so the house may sit vacant for a while. I do like to garden, however, so have planted a considerable number of trees, shrubs and perennials around the house, which makes me feel better when we go over there and makes the house look better as well and overall wasn't very expensive because we did all the planting ourselves. I am good at delayed gratification and can wait until the time is right (if ever) to spend money on something. Like Chelone, I always pay more on my monthly mortgage payment on our current little house and last year at Christmas I paid an additional $1000. I don't like debt and don't have any, other than a mortgage. I think this is a good time to differentiate between needs and wants. As other posters have said, listen carefully to that inner voice. That is your intuition speaking.

Logically you could of course do it now, however, I've always been a big believer of listening to your gut. So I'd WAIT.

You're not the only "fraidy cat" LOL! The question is, as some posters pointed out, will the delayed gratification bother me more than financial peace of mind. Is it possible to do some work now (fall is a good time to plant trees, etc.)?

I try to not to become "chicken little" and ride the media roller coaster of bird flu, west nile virus, etc., but I have some real concerns about this economy. We've been saving for college educations and have been practicing thriftiness forever. Our DIY kitchen remodel has been a work in progress for years:)

Good luck!

Cathy in SWPA

I also have a hard time spending when the economy looks bad. I have had money for the bathrooms set aside for a while now, but can't seem to act. Seems like when I do spend, something unexpected (and expensive!) happens
Like others here, I also pay extra on my mortgage every month. Started paying an extra $100 to the principle every single payment. After 8 years, i refinanced to a lower rate with a 10 year mortgage. I still pay extra (though more now since my income has gone up), and should have the new note payed off in 6 years.

Thanks, everyone, for the input. What it comes down to, really, is listening to one's instinct. One person's gut may say to do the work, but another's may say to sit tight. In my case, it is saying sit tight.

We, too, are committed to only doing work we can pay for out of pocket. And we do actually pay extra toward the mortgage each month, hoping to pay off a 20-year in 11-13 years. I am REALLY looking forward to having a paid-off home, and to the freedom that will bring.

I JUST had this conversation yesterday. I'm planning on pulling up the carpet in my living room so I've been eyeing rugs. I saw a nice 8x10 rug at Home Goods on sale for $275 last week. I went back a few days later fully planning on buying it, but I chickened out. If you read my threads, we're doing lots of projects right now, and I'm willing to pay for some of it, but mostly for stuff we don't currently have. I really should get new living room furniture (smaller scale to fit our room better) but it nags at me to buy a new couch/chair when we already have one even if it's not the best for the room. I haven't gotten a quote yet for some fireplace cabinets but I"m sure when I get it I'll be a nervous wreck trying to decide whether to go ahead with it or not. We have some savings but not a ton. DH student loans will be paid off in a few months and one car payment will be up next spring, so more $$ should be coming our way, but for some reason I have this irrational fear of spending too much on stuff I can't justify. Now keep in mind we did remodel the kitchen last year, but that was a MUST for ease of living. We installed a new driveway and that was because of safety and tired of standing in puddles. But home decor freaks me out!!!!

Thrift ideas from across the pond..

When looking at doing home improvements, to prioritise the updating of basics and then the things that will add to the value of the property. Do as much of it yourself WELL. if you aren't good at DIY get the builders/painters in. A badly dne job adds nothing to the value of the house.

Paying off the things with the highest interest rates eg credit card as fast as poss, because that saves more money than paying extra on the mortgage. The time to pay extra off on the mortgage is after clearing the credit card and any other expensive credit short term things off. Providing the proper payments are made on time, no one is going to chuck you out of the house.

Buy solid wood furniture, even secondhand, because it is relatively easy to refinish it or paint several times to go with a different room/new colour scheme, which you can't do with MDF/particle board.