Had a master plan to redo 3 bathrooms and turn my garage into a shop/office(to make my home more private) Spent time figuring out timeline onthings and figuring teverythign as a “real” job. It’s a good plan so I don’t end up dragging out this remodel.
After all the figuring I came to the conclusion that I can’t afford me, much less “the guys”.
I could take out a loan and thus continue with the plan, or I could do this “free”. By free I mean in my spare time, which is the time that I am not runnign a business,physically working, or raising my 5 kids.
Ok so their isn’t much free time. I don’t really want to increase my debt load if I can find a way around it. The project has to be done for the sake of keeping wife happy.
What’s a man to do?
An inch too short. That’s the story of my life !
bstcrpntr — I hope to grow into this name.
Replies
Man that's easy....
just get a new wife....
G,D&R (-:
12 years of marriage and 5 kids and you say get a new wife!
Cheaper to keeper man!An inch to short. That's the story of my life !
bstcrpntr --- I hope to grow into this name.
Best,
Consult your tax guy. I would think that after 12 years your current wife is fully depreciated.
Maybe if you can find a new one over 6000lbs gvwr you can use that tax exemption and write her off all in the same year.
Sometimes you can get some real help on this site.
I guess I should of expected the answers I am getting.
Just kinda wondering and venting at the same time.An inch to short. That's the story of my life !
bstcrpntr --- I hope to grow into this name.
Best,
I can feel for you. My wife and my business were at odds the entire time.
Come to think of it, My wife and the Army are at odds now. But if I go back to work for myself, her and the business would be at odds again.
What are the chances, you could get your guys started in the morning, cut loose and work on your project for a few hours and then go back and check on them?
If you made a little less money but spent a little less on the office, would you be even?
I've been working on my current house forever, as I have time and funds. If you've got five kids, you know how seldom those two things line up.
So Finally, I bit the bullet and borrowed enough to finish it. The payment is hardly significant ( I borrowed $40K) and it has done much to keep the peace.
Go back, figure it as your own project and not a business project and see how much you need and then see how much peace at home is worth.
I haven't found the price of peace at home yet but I've got an idea. What she wants is for me to make $200K per year, leave at 9:30 AM and be home at 4:00PM four days a week.
SO, my original answer still stands as the best plan. She's fully depreciated by now. Plus, have you seen all the advancements on the newer models?
What she wants is for me to make $200K per year, leave at 9:30 AM and be home at 4:00PM four days a week.
Hmmm.....sounds like she wants you to have my life.....lol.
Bob
put the kids to work.. 2+3=7
The kids working was one of my thoughts too, but how old.
Paid the kids $4/hr in the 70s when they were pre-teens (11&12), only time we ever saw them put in good solid 10 hour days.
How do I get your Job?
Does it come with a hot wife and Porsche?
Sometimes you can get some real help on this site.
I guess I should of expected the answers I am getting.
Just kinda wondering and venting at the same time.
I've certainly enjoyed them. LOL
And related to how I approach living. In the past I've suggested to several complainers (I'm not being critical here) on this board that they might do well to re-examine their priorities. To date I have yet to get a positive response, usually no response at all.
My point, as ever, is you (one) always make choices about what you do every day. Don't like the choices you're making? Well, think about it.
What's most important? .... OK, now how do you pay for it? Usually the choices aren't all that difficult. But sometimes a spouse can be. Same process works there.PAHS Designer/Builder- Bury it!
Cheaper to keeper man!I agree... just pullin your leg..
It's your choice friend.
Is your priority to keep the wife happy at peril of the business? Strap your cash flow for peace at home?
Do your office, increase your profitability and then rework the washrooms as your cash flow increases. Do what you can afford--you never know what will happen.
L
GardenStructure.com~Build for the Art of it!
Get the loan, knock this job out fast. Wife happy. It's only money, you'll make more.
I've been married 25 years in September, I believe I know what I'm talkin' about.
No great insight here, so let me say what seems obvious.
Ask your honey what she'd like to see done first, and there you go.
One bite at a time, you can eat anything...Buic
Ask your honey what she'd like to see done first, and there you go
Married 40 years, always worked for me too, although usually don't get the chance to ask <G>.
Your way smarter than me. I'd have dove right in, then figured out I couldn't have afforded it.
Find a compromise.
Do you really need to do all three?
blue
Run thru the numbers with the wife, along with any alternate options such as starting with the shop/office, and the the others as plans, time and money permit. Find out what her priority feelings are and then see where you are at.
When she sees what t he numbers are - she will probably (hopefully) be glad that you are letting her into the loop and decision making and will (hopefully again) be willing to prioritize the options.
That's an excellent piece of advice Rick. You must be a marriage counsler in your other life!
blue
Been married happily for 16years. Learned early the art of compromise and keeping communication open.1 - measure the board twice, 2 - cut it once, 3 - measure the space where it is supposed to go 4 - get a new board and go back to step 1
kids are 14,13,12,9,8An inch to short. That's the story of my life !
bstcrpntr --- I hope to grow into this name.
I have been in the same situation in the past and we are now there again in another home.
In the last home, we discussed this with our accountant(CPA) and her recommendation was to take out an equity line on the home and git it done in one fell swoop, by treating it as you first priority job.
Pulling yourself and/or your guys off another jobs here and there is not cost effective. You make more money getting in and out, not stoking it along. In this case, getting it done faster saves you money and reduces the amount borrowed.
There is a tax advantage to this too. As in our case we were able to write off much of the improvements because I then had a larger pretax deduction because of the larger office/shop. I don't remember the numbers on the old place, but we were around a $400-$500 loan/payment and an approx. $350 savings on all the various tax deductions. So in a kinda-sorta way, that home/shop improvement cost us around $150 extra amonth. Not to bad.
Also having the office/shop on the property increased productivity and family time. Sometimes the seperation between the two was a strain, but the end result was better
The real benefit came when we sold the home and we got every penny back by 3 times what it origionally cost us.
This was probably the best business/finacial decision we have ever made.
Edited 3/6/2006 8:01 pm by migraine
Forget about the wife, forget about the project, and just spend time with your kids.