Saving up for renovations
Well, decorating and furnishing my townhouse is going well, and it’s finally starting to feel like home. There are still a few things I need to buy:
– Office area: chair, lamp, rug.
– Bedroom: 18×24 picture frames (4) – cheap from IKEA, and other decor items from Etsy.
– Kitchen: some piece of furniture to fit in my kitchen nook (where the built-in desk used to be) … my dream is something like this.
– Outdoors: some sort of chair. I saw two awesome options when browsing antique stores over the weekend, but both stores were asking $150. And I’m sorry, I’m not paying that much for used furniture.
I think I’ll try to hit up IKEA sometime this week. Or maybe next week, before I head to San Francisco. In the meantime, I’m going to scour Craigslist and the rest of the internet for some sort of dream piece of furniture for my kitchen nook. It has to exist somewhere. And not cost thousands of dollars.
Anyway, now that I’m almost done buying furniture and decorating my townhouse, the next big thing that I want to save up for is renovating the kitchen. While the area isn’t entirely tragic, it’s the original kitchen, and it will eventually need to get updated anyway.
My first thought is to do this in 2 stages:
Stage 1 – new counters, backsplash, sink & cabinets (2012)
Stage 2 – new appliances (2013)
I mean, it would probably be way easier just to save up all of the money and get everything done at the same time. I just have a hard time justifying replacing the appliances when they work just fine. Although I guess the same could be said about replacing the entire kitchen. Everything is functional. I just think it needs updating.
I haven’t even begun to price anything out. As you can see, the kitchen is pretty tiny. I would guess that the entire renovation – including material, labour, and new appliances – would cost maybe $7,000? More? Less? I have no idea. The first round of renovations I did ended up being a lot less than I had budgeted. I guess I should start to do some research so I know how much I need to save up.
Author: Krystal Yee
I’m a personal finance blogger and marketing professional based in Vancouver. I’m a former Toronto Star (Moneyville) columnist, author of The Beginner’s Guide to Saving and Investing, and co-founder of the Canadian Personal Finance Conference. When I’m not working, you can usually find me running, climbing, playing field hockey, or plotting my next adventure.