Ever since we bought this place we wanted to replace the carpets. However, money has always been an issue. So although we're planning on a home renovation budget of 150 a month when my wife finishes school, we realized we would probably move before we got to enjoy the new flooring. I refuse to borrow any more money for consumption, but we received a nice tax return and decided to buy the flooring with it. It's probably more fiscally responsible to spend that money on paying down debt, but we decided that hating where you live to save money doesn't make sense.
Now or later, the money needed to be spent. I don't think we'd have any chance of selling our home like this. I didn't want to fix it up right as we're moving. I want to get a little joy out of the money spent too.
In my previous post about Plastic Debt Aaron suggested paying cash to receive a discount. I thought about it, but in this case opted not to. If I wasn't in debt, this definitely makes a lot of sense. However, in this case we already bargained a good price, put the tax return on the LOC, and get the 1% bonus dollars for my credit card. The interest saved on the LOC makes up for the savings any cash payment would have given me (I hope).
We discussed carpet, but I don't feel comfortable putting that down myself. Hiring a crew is not only expensive, but not realistic. We'd have to empty the rooms, but we're talking about doing our whole house. So we decided on laminate so I can do it at my leisure. I couldn't convince my wife to try carpet tile. Maybe next time.
I'll post pictures when it's done. I'm stressed with everything I need to do, but what's one more thing right?
Crazy investment, or a balncing act? What are your thoughts?