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2016 Fall Home Improvement LINCOLN DAILY NEWS SEPT. 27, 2016 Page 31
4. Short-term borrowing is better than waiting for
years to get what we want
Once the decision is made to accumulate costly
short-term debt to finance a project, a couple may
get into a spiral that makes credit card debt a major
budget item, even long-term debt. Other priorities
are delayed because of the cost of previous
impulse.
5. My spouse can put life on-hold for the remodel
time
We often misjudge our partner’s needs for privacy
and “space” without the unpredictable and
extended intrusion of “strangers in our midst.”
6. Saving money by “do-it-yourself” is always
good
There are many skilled craftsmen who are not
professionals. But there are many others who are
not good judges of their own abilities, and many
spouses who do not appreciate a “that’s good
enough” approach.
7. My buddy or brother-in-law would be happy to
do this job for us
Such non-professional relationships leave us
vulnerable unpredictable debt, unreliable work,
and potentially awkward relationships . . . with the
two spouses torn by conflicted loyalties.
To protect your marriage from a project-centered
disaster, there are several steps you can take:
1. Regularly reflect on and renew your marriage
covenant. What you are to each other and what
you are committed to is a higher priority than any
household project.
2. Patiently work to achieve agreement on every
project, detail, and cost related to remodeling.
3. Replace quid pro quo “I get this if you get that”
- with - “How can I be sure that this will benefit
my partner?”
4. Pay cash. This has several advantages.
- You place a realistic ceiling on the expense,
avoiding impulsive ballooning of costs.
- You have an answer when the contractor says, “I
can fix-up that extra room for another $10,000.”
- You think the project through more thoroughly
when you take time to save money ahead of time.
- You also work through your priorities when you
take more time before the project begins.
5. Think long-term in any project. Hopefully
a project will both enhance your life and
enhance your property value. However, in fluid
housing markets, improved property values are
unpredictable. Things we see as investments,
may be seen merely as timely upgrades. On the
other hand, if the project improves the satisfaction
that your home provides to you over the next five
years, that may make it a wise investment.