1 00:00:00,120 --> 00:00:03,200 Speaker 1: Welcome to how to Money. I'm Joel and I am Matt, 2 00:00:03,360 --> 00:00:06,880 Speaker 1: and today we're discussing renovating your home on a budget. 3 00:00:25,760 --> 00:00:27,560 Speaker 1: All right, Matt. Before we get into all that stuff, 4 00:00:27,600 --> 00:00:30,600 Speaker 1: I want to mention that my friend Katie, she sent 5 00:00:30,640 --> 00:00:33,920 Speaker 1: me an email based on our Frugal Versus Cheap podcast 6 00:00:33,960 --> 00:00:36,680 Speaker 1: when I talked about buying a fan for our rental 7 00:00:36,760 --> 00:00:39,280 Speaker 1: property that was super super small, yeah, with the uber 8 00:00:39,280 --> 00:00:43,240 Speaker 1: short fan blades. Yeah, so I kind of gave myself 9 00:00:43,320 --> 00:00:45,440 Speaker 1: some crap for that, and that was definitely a cheap 10 00:00:45,479 --> 00:00:48,200 Speaker 1: out as opposed to a frugal purchase. Yeah, it looks dumb. 11 00:00:48,640 --> 00:00:51,680 Speaker 1: It looks terrible and actually is incredibly ineffective. It doesn't 12 00:00:51,680 --> 00:00:53,880 Speaker 1: really move the air quite as well. No, because it 13 00:00:53,880 --> 00:00:55,880 Speaker 1: looks like it belongs in a four by four room 14 00:00:55,920 --> 00:00:57,800 Speaker 1: as opposed to a twelve by twelve room, which is 15 00:00:57,920 --> 00:00:59,320 Speaker 1: kind of what it's in. I think a desk fan 16 00:00:59,360 --> 00:01:02,680 Speaker 1: mounted to this. Yeah, it looks so ridiculous. So she 17 00:01:02,720 --> 00:01:05,200 Speaker 1: sent me this really interesting article from this site called 18 00:01:05,280 --> 00:01:08,000 Speaker 1: young house Love dot com. And it turns out I 19 00:01:08,120 --> 00:01:10,720 Speaker 1: know that site. Oh really, Yeah, dude, that's the house 20 00:01:10,760 --> 00:01:14,360 Speaker 1: renovating sort of site John and uh Sherry Kate and 21 00:01:14,400 --> 00:01:16,280 Speaker 1: I used to you like buddies of these people. No, 22 00:01:16,400 --> 00:01:17,800 Speaker 1: but Kate, I used to keep up with that site 23 00:01:17,840 --> 00:01:19,440 Speaker 1: all the time back in the day when we first 24 00:01:19,440 --> 00:01:22,280 Speaker 1: got our house. They were constantly doing sort of these 25 00:01:22,360 --> 00:01:24,440 Speaker 1: d I y projects and they would inspire us to 26 00:01:24,440 --> 00:01:25,920 Speaker 1: to try stuff out at home. But then they kind 27 00:01:25,920 --> 00:01:27,800 Speaker 1: of stopped blocking for a while, so I guess they 28 00:01:27,840 --> 00:01:29,680 Speaker 1: fired it back up. So cool. Yeah, So I don't 29 00:01:29,680 --> 00:01:31,440 Speaker 1: know if I don't know if this was a recent 30 00:01:31,520 --> 00:01:34,280 Speaker 1: article or what, but but this is an awesome suggestion. 31 00:01:34,600 --> 00:01:37,720 Speaker 1: I guess they too found themselves in a similar spot 32 00:01:37,720 --> 00:01:40,520 Speaker 1: where they had a fan that had fan blades that 33 00:01:40,560 --> 00:01:43,559 Speaker 1: were way too short and just didn't circulate enough air. 34 00:01:43,600 --> 00:01:46,520 Speaker 1: And what they did was they reached out to the manufacturer, apparently, 35 00:01:46,720 --> 00:01:49,120 Speaker 1: and they asked if they had fan blades that were 36 00:01:49,360 --> 00:01:51,440 Speaker 1: longer that would fit this exact same fan. They sent 37 00:01:51,520 --> 00:01:54,280 Speaker 1: them the model number, and the manufacturer just sent them 38 00:01:54,400 --> 00:01:57,520 Speaker 1: some new, longer fan blades that fit perfectly and the 39 00:01:57,560 --> 00:02:00,680 Speaker 1: fans still worked fine. So awesome. Now I'm going to 40 00:02:00,760 --> 00:02:03,080 Speaker 1: reach out to the manufacturer of my fan and see 41 00:02:03,080 --> 00:02:04,480 Speaker 1: if I can do the same thing. See if I 42 00:02:04,480 --> 00:02:07,040 Speaker 1: get some free fan blades and just make make that 43 00:02:07,080 --> 00:02:10,799 Speaker 1: thing work properly. That's awesome, man, I love that. Well, 44 00:02:10,960 --> 00:02:13,400 Speaker 1: this is gonna sound ridiculous, but I actually reached out 45 00:02:13,440 --> 00:02:17,000 Speaker 1: to the manufacturer of one of our fans because the 46 00:02:17,120 --> 00:02:20,040 Speaker 1: led panel for the light went out and it's sat 47 00:02:20,080 --> 00:02:21,640 Speaker 1: there for a little bit with sort of this half 48 00:02:21,760 --> 00:02:24,600 Speaker 1: dim light and mood lighting. Some people call that with 49 00:02:24,600 --> 00:02:26,480 Speaker 1: this half dim light. Yeah, that's right. And we knew 50 00:02:26,480 --> 00:02:28,919 Speaker 1: it wasn't working properly, but I was just kind of lazy. 51 00:02:29,000 --> 00:02:31,720 Speaker 1: But I finally reached out to the manufacturer with a 52 00:02:31,720 --> 00:02:34,000 Speaker 1: part number, and we had to pay for that part. However, 53 00:02:34,360 --> 00:02:37,440 Speaker 1: it was only fourteen bucks, and because that we basically 54 00:02:37,639 --> 00:02:40,280 Speaker 1: got our lighting back in our living room when before 55 00:02:40,280 --> 00:02:42,640 Speaker 1: it was totally dark. That's something I've never really done before, 56 00:02:42,680 --> 00:02:45,120 Speaker 1: actually reaching out to the manufacturer. I think maybe in 57 00:02:45,160 --> 00:02:46,680 Speaker 1: a previous life I would have looked at that and 58 00:02:46,720 --> 00:02:49,120 Speaker 1: been like, the fans gotta go in a couple of years, 59 00:02:49,320 --> 00:02:51,079 Speaker 1: just let's just get rid of it. I remember doing 60 00:02:51,120 --> 00:02:53,600 Speaker 1: that a while back with a caraft for a coffee maker. 61 00:02:53,800 --> 00:02:55,799 Speaker 1: He kind of busted, like he just kind of fell apart, 62 00:02:56,200 --> 00:02:58,160 Speaker 1: and so I reached out to the manufacturer. I told 63 00:02:58,240 --> 00:03:00,040 Speaker 1: him the model number I was working with, and and 64 00:03:00,080 --> 00:03:02,240 Speaker 1: I was like, I really really love the coffee maker. 65 00:03:02,400 --> 00:03:04,239 Speaker 1: I don't really want to buy a new one. Yeah, 66 00:03:04,240 --> 00:03:05,919 Speaker 1: there's a lot more life in this thing if only 67 00:03:05,960 --> 00:03:09,000 Speaker 1: I had the glass paper exactly. And so they sent 68 00:03:09,000 --> 00:03:10,560 Speaker 1: me another one free of charge, which is super They 69 00:03:10,600 --> 00:03:12,480 Speaker 1: hook you up. Yeah, dang it. So I feel like 70 00:03:12,760 --> 00:03:15,120 Speaker 1: pay for my light, dude, that's well, four teen bucks 71 00:03:15,160 --> 00:03:16,400 Speaker 1: is not too bad. It's not bad. I was. I 72 00:03:16,440 --> 00:03:18,440 Speaker 1: was pretty happy with it. But that's the downside to 73 00:03:18,600 --> 00:03:20,720 Speaker 1: LED lights in general. Right, Like they say that, oh 74 00:03:20,840 --> 00:03:22,680 Speaker 1: l eds, they're you know, they're gonna last for twenty 75 00:03:22,720 --> 00:03:27,480 Speaker 1: thirty years, unlike traditional incandescent lights. However, the electric boards 76 00:03:27,520 --> 00:03:29,920 Speaker 1: will sometimes kind of short out. And it's not that 77 00:03:29,960 --> 00:03:33,359 Speaker 1: the LED itself is going bad, but the circuit tree 78 00:03:33,440 --> 00:03:36,160 Speaker 1: sometimes may not be quite up to snuff. But I 79 00:03:36,200 --> 00:03:38,520 Speaker 1: think it's really important to realize that it never hurts 80 00:03:38,600 --> 00:03:41,000 Speaker 1: to ask. Right, maybe I can reverse my cheap ways 81 00:03:41,200 --> 00:03:44,800 Speaker 1: turn into a frugal wind. I mean, it's a beautiful thing. Yeah, man, 82 00:03:44,800 --> 00:03:47,880 Speaker 1: I love the discussion between frugal versus cheap, right, it 83 00:03:47,920 --> 00:03:49,400 Speaker 1: makes me think. A couple of weeks back, we had 84 00:03:49,440 --> 00:03:52,200 Speaker 1: a listener in our Facebook group at how to Money, Ben, 85 00:03:52,600 --> 00:03:55,240 Speaker 1: He said, frugal are cheap. My daughter has outgrown her 86 00:03:55,240 --> 00:03:57,280 Speaker 1: sippy cups, and I used them to take milk to 87 00:03:57,320 --> 00:04:00,240 Speaker 1: work because I hate the powdered creamer they provide for 88 00:04:00,240 --> 00:04:02,480 Speaker 1: the coffee. I fill up the milk at home and 89 00:04:02,480 --> 00:04:04,440 Speaker 1: place it in the fridge in the office break room. 90 00:04:05,600 --> 00:04:07,760 Speaker 1: What do you think about that? Man? I love it. 91 00:04:08,800 --> 00:04:11,200 Speaker 1: I love it. Man. We've got so many freaking sippy 92 00:04:11,200 --> 00:04:14,520 Speaker 1: cups around our house, and my girls, for some reason 93 00:04:14,640 --> 00:04:17,039 Speaker 1: love to love to still use like some of the 94 00:04:17,040 --> 00:04:19,320 Speaker 1: ones they used as babies. They just think that's the 95 00:04:19,320 --> 00:04:21,880 Speaker 1: coolest thing ever. And and you know what, I should 96 00:04:21,880 --> 00:04:23,679 Speaker 1: probably take some of them to work and do something 97 00:04:23,720 --> 00:04:26,000 Speaker 1: with him, something a little more creative. Yeah, But I 98 00:04:26,040 --> 00:04:28,320 Speaker 1: love that that Ben's not putting him out the pasture, 99 00:04:28,400 --> 00:04:30,479 Speaker 1: tossing him in the garbage, and he's getting getting a 100 00:04:30,480 --> 00:04:32,760 Speaker 1: second life out of him. And I just think it's 101 00:04:32,760 --> 00:04:34,960 Speaker 1: funny because if I was his co worker, I would 102 00:04:35,000 --> 00:04:37,159 Speaker 1: probably ask for an explanation, but why is there a 103 00:04:37,160 --> 00:04:40,280 Speaker 1: sippy cup in the fridge? Right? But then I would 104 00:04:40,520 --> 00:04:42,719 Speaker 1: have a good laugh and and probably use the creamer 105 00:04:42,760 --> 00:04:45,200 Speaker 1: that he brought, because he's right, powder cream sucks well, 106 00:04:45,240 --> 00:04:47,200 Speaker 1: added bonus, if no one ever knew that that's what 107 00:04:47,240 --> 00:04:49,920 Speaker 1: was in its his coworkers wouldn't steal the creamer because 108 00:04:49,960 --> 00:04:51,960 Speaker 1: I guarantee they probably think it sucks too, and they're like, 109 00:04:52,160 --> 00:04:54,360 Speaker 1: powder creamer? Do we hire a baby around here? Where's 110 00:04:54,360 --> 00:04:56,720 Speaker 1: this baby? Man? I've got my boss baby going on. 111 00:04:57,600 --> 00:04:59,240 Speaker 1: All right, Joe, let's go ahead and mention the beer 112 00:04:59,279 --> 00:05:01,680 Speaker 1: that we're gonna have on the show today. It is 113 00:05:01,720 --> 00:05:04,960 Speaker 1: from Prairie artisan Ales and this beer is called Apple 114 00:05:05,000 --> 00:05:08,880 Speaker 1: Brandy Barrel Noir. This is an Imperial Stout aged and 115 00:05:09,040 --> 00:05:11,800 Speaker 1: apple brandy barrels. And before we kind of get to 116 00:05:11,800 --> 00:05:13,839 Speaker 1: the what it tastes like, I wanted to mention that 117 00:05:13,880 --> 00:05:16,560 Speaker 1: this was donated to us from Jeff and Val of 118 00:05:16,760 --> 00:05:19,960 Speaker 1: Monday Morning Pancakes. Dude. They wrote us a note and 119 00:05:20,000 --> 00:05:22,400 Speaker 1: sent a couple of amazing beers and a few things 120 00:05:22,440 --> 00:05:24,880 Speaker 1: they mentioned in the in the letter any pancakes too, 121 00:05:24,960 --> 00:05:28,040 Speaker 1: you know? I wish, although I don't think they hold 122 00:05:28,080 --> 00:05:29,800 Speaker 1: up very well in the male. Yeah, I don't think so. 123 00:05:30,160 --> 00:05:32,080 Speaker 1: They said that they were in a rut financially and 124 00:05:32,160 --> 00:05:35,119 Speaker 1: had since been inspired to start their blog, Monday Morning 125 00:05:35,120 --> 00:05:38,599 Speaker 1: Pancakes to document their path to a better lifestyle and 126 00:05:38,680 --> 00:05:42,040 Speaker 1: financial independence. I'll tell you what, man, Sometimes just starting 127 00:05:42,040 --> 00:05:44,400 Speaker 1: a blog or some sort of diary, anything to kind 128 00:05:44,400 --> 00:05:46,760 Speaker 1: of track your progress and put it down in writing 129 00:05:46,839 --> 00:05:48,720 Speaker 1: can kind of help you not only to gather your 130 00:05:48,720 --> 00:05:52,400 Speaker 1: thoughts and get started in a specific direction, but then 131 00:05:52,440 --> 00:05:55,240 Speaker 1: also kind of hold yourself accountable as you're going through 132 00:05:55,240 --> 00:05:57,200 Speaker 1: the process. And so I love that. I love that 133 00:05:57,240 --> 00:06:00,400 Speaker 1: they started something, and they started something together to kind 134 00:06:00,400 --> 00:06:04,359 Speaker 1: of turn inspiration into like application, really right, Yeah, I 135 00:06:04,360 --> 00:06:05,760 Speaker 1: love that. And what a great way to get on 136 00:06:05,760 --> 00:06:08,520 Speaker 1: the same page as your spouse, right by starting something together. 137 00:06:08,920 --> 00:06:10,800 Speaker 1: And what a great way to gain our favor by 138 00:06:10,800 --> 00:06:13,320 Speaker 1: sending this beer. So I was really excited because I 139 00:06:13,320 --> 00:06:14,880 Speaker 1: didn't tell you what beer this was. But have you 140 00:06:14,880 --> 00:06:16,560 Speaker 1: had this before? Well, now I have to look at 141 00:06:16,600 --> 00:06:18,240 Speaker 1: the label. I don't know. I don't think I've ever 142 00:06:18,240 --> 00:06:19,800 Speaker 1: had this one. Cool. I just know when I read 143 00:06:19,800 --> 00:06:22,320 Speaker 1: that label, I thought, holy crap, this might be one 144 00:06:22,320 --> 00:06:24,000 Speaker 1: of the best beers that we've had on the show 145 00:06:24,240 --> 00:06:27,480 Speaker 1: in a long long time, just based on the name alone. 146 00:06:27,720 --> 00:06:29,880 Speaker 1: So you are having a sip right now, and yeah, 147 00:06:29,920 --> 00:06:32,120 Speaker 1: what are your thoughts, man? Yeah? I did just have 148 00:06:32,160 --> 00:06:35,520 Speaker 1: a sip and you might be right, Matt, that's a 149 00:06:35,520 --> 00:06:39,400 Speaker 1: phenomenal beer. The word I'm going to use this week 150 00:06:39,440 --> 00:06:43,080 Speaker 1: to describe this beer is barrel. And I know we 151 00:06:43,160 --> 00:06:45,200 Speaker 1: say that almost every week, that oh, this is such 152 00:06:45,240 --> 00:06:48,000 Speaker 1: a good beer, but for real, this beer is fantastic 153 00:06:48,160 --> 00:06:50,440 Speaker 1: and my word is going to be apple. And all 154 00:06:50,480 --> 00:06:52,440 Speaker 1: the other times we were just lying like none of 155 00:06:52,480 --> 00:06:55,360 Speaker 1: those beers have been good, completely joking, but this one 156 00:06:55,480 --> 00:06:57,520 Speaker 1: is good, right, Yeah, did you hear my word? I 157 00:06:57,520 --> 00:07:00,320 Speaker 1: said apple? I did, yeah, for it, Honestly, that's the 158 00:07:00,360 --> 00:07:02,760 Speaker 1: word I almost went with, oh really, but I was like, 159 00:07:02,800 --> 00:07:04,840 Speaker 1: it's a little too straightforward, because no, man, I take 160 00:07:04,880 --> 00:07:06,839 Speaker 1: it right on the notes. So yes, So we'll describe 161 00:07:06,839 --> 00:07:08,760 Speaker 1: a little bit later on the show exactly why we 162 00:07:08,880 --> 00:07:11,680 Speaker 1: use those words. And no, we weren't lying in episodes past. 163 00:07:11,800 --> 00:07:14,760 Speaker 1: We just honestly drink good beers every week. Super thankful 164 00:07:14,840 --> 00:07:16,520 Speaker 1: to get a drink good beers with you, my friend, 165 00:07:16,720 --> 00:07:19,680 Speaker 1: and do the show alright, Joel, But onto the topic 166 00:07:19,720 --> 00:07:22,160 Speaker 1: at hand. Huh you did that nicely. Yeah, that's how 167 00:07:22,200 --> 00:07:24,840 Speaker 1: you do it. And so this week we are talking 168 00:07:24,880 --> 00:07:27,720 Speaker 1: about specific tips when it comes to renovating your home 169 00:07:27,840 --> 00:07:30,160 Speaker 1: on a budget. What are the specific tips you can 170 00:07:30,280 --> 00:07:32,360 Speaker 1: use to save yourself money and to keep you within 171 00:07:32,400 --> 00:07:34,760 Speaker 1: your budget. And last week we discussed the pros and 172 00:07:34,800 --> 00:07:37,280 Speaker 1: cons and the factors that you should keep in mind 173 00:07:37,320 --> 00:07:39,920 Speaker 1: when considering if you should renovate or if you should move, 174 00:07:40,320 --> 00:07:41,840 Speaker 1: and we came to the fact that both can be 175 00:07:41,920 --> 00:07:45,240 Speaker 1: just as stressful and expensive. But you know, if you 176 00:07:45,280 --> 00:07:48,160 Speaker 1: want to renovate, or you think that you will ever renovate, 177 00:07:48,520 --> 00:07:50,800 Speaker 1: this is the episode for you. Yeah, Matt, And I 178 00:07:50,800 --> 00:07:52,400 Speaker 1: think they're gonna be a lot of like big picture 179 00:07:52,440 --> 00:07:54,440 Speaker 1: things for people to take away from this episode, but 180 00:07:54,480 --> 00:07:56,720 Speaker 1: they're also going to be these small things that seems 181 00:07:56,920 --> 00:08:00,600 Speaker 1: insignificant potentially, but could be the difference between having a 182 00:08:00,640 --> 00:08:03,200 Speaker 1: contractor that does a good job for you or one 183 00:08:03,280 --> 00:08:05,920 Speaker 1: that takes your money and runs. And there are so 184 00:08:06,040 --> 00:08:09,320 Speaker 1: many horror stories of people that decide to move forward 185 00:08:09,360 --> 00:08:12,880 Speaker 1: with a renovation and they hire a contractor based on 186 00:08:13,120 --> 00:08:16,240 Speaker 1: very little knowledge or or a word of mouth from 187 00:08:16,320 --> 00:08:19,120 Speaker 1: one person, and and and and guess what, You pay 188 00:08:19,160 --> 00:08:21,200 Speaker 1: a lot of money up front for them to start 189 00:08:21,240 --> 00:08:23,640 Speaker 1: the project, and then you never see him again. And 190 00:08:23,680 --> 00:08:26,160 Speaker 1: I've just heard and read too many of those stories 191 00:08:26,400 --> 00:08:29,080 Speaker 1: from people. And that's a huge reason why we're creating 192 00:08:29,080 --> 00:08:32,080 Speaker 1: this episode is to help people not only figure out 193 00:08:32,080 --> 00:08:34,760 Speaker 1: how to save money maybe d I y some things themselves, 194 00:08:34,960 --> 00:08:39,400 Speaker 1: but ultimately also to avoid that potentially tragic circumstance where 195 00:08:39,440 --> 00:08:42,160 Speaker 1: you lose a ton of money by giving your money 196 00:08:42,160 --> 00:08:44,120 Speaker 1: to a scam artist. So we're gonna get to all 197 00:08:44,120 --> 00:08:56,480 Speaker 1: those tips right after this break. All right, Matt, let's 198 00:08:56,520 --> 00:08:58,640 Speaker 1: get right into it first. Are you sure you want to? 199 00:08:58,920 --> 00:09:01,040 Speaker 1: I mean, renovating a house is a pain. We talked 200 00:09:01,040 --> 00:09:03,240 Speaker 1: about it last week, so certainly there are a lot 201 00:09:03,280 --> 00:09:05,360 Speaker 1: of benefits, but there are also a lot of costs 202 00:09:05,400 --> 00:09:08,440 Speaker 1: and headaches associated with a major reno. You might be 203 00:09:08,480 --> 00:09:11,960 Speaker 1: able to instead, possibly spend a fraction of the renovation 204 00:09:12,000 --> 00:09:15,280 Speaker 1: costs you're considering on storage and organization to save a ton. 205 00:09:15,559 --> 00:09:17,520 Speaker 1: That's something we mentioned last week. I just wanted to 206 00:09:17,559 --> 00:09:19,960 Speaker 1: briefly say in this episode in case you missed that one. 207 00:09:20,240 --> 00:09:22,320 Speaker 1: Now let's get onto some actual tips for how you 208 00:09:22,360 --> 00:09:24,360 Speaker 1: renovate your home on a budget. The first tip that 209 00:09:24,400 --> 00:09:27,200 Speaker 1: we're gonna cover is to keep in mind that it's 210 00:09:27,200 --> 00:09:30,640 Speaker 1: gonna cost more and it's gonna take longer than you expect. 211 00:09:30,960 --> 00:09:33,720 Speaker 1: I've never heard that about a renovation. This all the time, 212 00:09:33,800 --> 00:09:35,800 Speaker 1: but you gotta keep in mind because it is duded. 213 00:09:35,880 --> 00:09:37,600 Speaker 1: Is so true. I'm thinking of some friends of ours 214 00:09:37,640 --> 00:09:40,480 Speaker 1: who live pretty close by. They would also say the 215 00:09:40,520 --> 00:09:43,280 Speaker 1: same thing. The project went a couple months over than 216 00:09:43,360 --> 00:09:46,040 Speaker 1: what the contractors said, and so did the price, and 217 00:09:46,080 --> 00:09:47,520 Speaker 1: so in their case, they kind of had the double 218 00:09:47,520 --> 00:09:50,319 Speaker 1: aamy going on, man, which is not uncommon. Yeah, it's 219 00:09:50,320 --> 00:09:52,800 Speaker 1: not uncommon, but it's just something to keep in mind. 220 00:09:52,840 --> 00:09:56,360 Speaker 1: You need to set some expectations and chances are that 221 00:09:56,640 --> 00:09:58,520 Speaker 1: one of the two of those are going to go over. Yeah, 222 00:09:58,559 --> 00:10:00,640 Speaker 1: you're going through a home renovation right now, so you 223 00:10:00,679 --> 00:10:04,040 Speaker 1: have some particular expertise at this moment in Yeah, that's right. 224 00:10:04,040 --> 00:10:05,960 Speaker 1: And so I think we're pretty much on time, which 225 00:10:06,040 --> 00:10:08,760 Speaker 1: is pretty crazy, right, the fact that we're on this 226 00:10:08,880 --> 00:10:11,760 Speaker 1: the time schedule that our general contractor had had said 227 00:10:11,920 --> 00:10:14,640 Speaker 1: was gonna be the case. But we are going over 228 00:10:14,640 --> 00:10:17,520 Speaker 1: budget for reasons that we'll get into later in this episode. 229 00:10:17,760 --> 00:10:19,959 Speaker 1: But from a time standpoint, we seem to be pretty 230 00:10:20,000 --> 00:10:21,959 Speaker 1: much on track, which is pretty freaking awesome. But it's 231 00:10:21,960 --> 00:10:25,640 Speaker 1: not always the case. Yeah. So, speaking of budgeting and money, 232 00:10:25,880 --> 00:10:29,920 Speaker 1: start saving now. Paying cash is the most ideal way 233 00:10:29,960 --> 00:10:33,520 Speaker 1: to pay for renovation. I realized that is a high standard. 234 00:10:33,640 --> 00:10:36,280 Speaker 1: That's a difficult thing to live up to. But if 235 00:10:36,280 --> 00:10:38,920 Speaker 1: you find yourself thinking right now, oh man, in a 236 00:10:38,920 --> 00:10:40,640 Speaker 1: couple of years, I feel like we're gonna want an 237 00:10:40,679 --> 00:10:43,600 Speaker 1: extra bathroom, or we're gonna want to remodel the kitchen, 238 00:10:43,679 --> 00:10:45,400 Speaker 1: you know, whatever it may be. If you can think 239 00:10:45,400 --> 00:10:47,640 Speaker 1: about it ahead of time and start saving for that, 240 00:10:47,920 --> 00:10:50,360 Speaker 1: then you don't have to worry about banks. And that's 241 00:10:50,400 --> 00:10:52,520 Speaker 1: really nice to not have to go through a process 242 00:10:52,640 --> 00:10:55,520 Speaker 1: of taking out a home equity line or loan or 243 00:10:55,559 --> 00:10:57,680 Speaker 1: doing like a cash out refight, because those can just 244 00:10:57,760 --> 00:11:00,320 Speaker 1: be a pain, a lot of paperwork, a lot of documents, ation, 245 00:11:00,600 --> 00:11:03,160 Speaker 1: and any way that you can avoid that is awesome. Yeah. 246 00:11:03,240 --> 00:11:05,360 Speaker 1: Or even on top of that, man, construction loans. That's 247 00:11:05,360 --> 00:11:06,959 Speaker 1: the product that's out there that a lot of people 248 00:11:07,080 --> 00:11:09,520 Speaker 1: use to renovate and like do a big renovation on 249 00:11:09,559 --> 00:11:13,280 Speaker 1: their home. But with those come a lot more work. 250 00:11:13,520 --> 00:11:16,200 Speaker 1: The bank sends out their own inspectors and so it 251 00:11:16,280 --> 00:11:19,079 Speaker 1: really slows down the work. You have to not only 252 00:11:19,120 --> 00:11:22,000 Speaker 1: get the work inspected by your local government for permitting 253 00:11:22,040 --> 00:11:24,520 Speaker 1: and whatnot, but the bank has to also approve the 254 00:11:24,559 --> 00:11:26,520 Speaker 1: work because they're the ones that are funding the work, 255 00:11:26,679 --> 00:11:28,960 Speaker 1: and so it really kind of slows the process down 256 00:11:28,960 --> 00:11:30,959 Speaker 1: and as a layer of complexity to the work that 257 00:11:31,000 --> 00:11:33,480 Speaker 1: you're having done on your place. Yeah, and so if 258 00:11:33,520 --> 00:11:35,400 Speaker 1: you do need to get a loan, the type of 259 00:11:35,600 --> 00:11:38,199 Speaker 1: product that you want to get depends on the amount 260 00:11:38,200 --> 00:11:40,080 Speaker 1: of time that it's going to take you to pay 261 00:11:40,080 --> 00:11:42,240 Speaker 1: off that loan. So if you end up getting an 262 00:11:42,280 --> 00:11:45,240 Speaker 1: adjustable rate loan like a home equity line of credit, 263 00:11:45,800 --> 00:11:47,880 Speaker 1: you are only gonna want to do that if you 264 00:11:47,920 --> 00:11:50,560 Speaker 1: feel like you can pay that off in a shorter 265 00:11:50,720 --> 00:11:53,880 Speaker 1: amount of time. Because chances are, in an environment where 266 00:11:53,920 --> 00:11:56,280 Speaker 1: interest rates are rising, you're likely going to pay more 267 00:11:56,320 --> 00:11:58,559 Speaker 1: in overall interest if it takes you a longer time 268 00:11:58,600 --> 00:12:00,360 Speaker 1: to pay off. And so if that's the case, if 269 00:12:00,400 --> 00:12:02,400 Speaker 1: it's going to take you a longer time to pay off, 270 00:12:02,440 --> 00:12:04,600 Speaker 1: and I'm saying greater than a three to five year timeline, 271 00:12:04,679 --> 00:12:06,840 Speaker 1: you're gonna want to go with something that locks in 272 00:12:06,880 --> 00:12:09,360 Speaker 1: your rate, like a whole equity loan or potentially that 273 00:12:09,400 --> 00:12:12,560 Speaker 1: cash out refinance because interest rates are still overall at 274 00:12:12,559 --> 00:12:14,839 Speaker 1: a pretty low level, and so if it's going to 275 00:12:14,960 --> 00:12:16,840 Speaker 1: take you a while to pay off, well, it's best 276 00:12:16,840 --> 00:12:19,520 Speaker 1: to lock that interest right in now when you're considering 277 00:12:19,600 --> 00:12:22,240 Speaker 1: taking out funds for a renovation, Yes, that's right, man. 278 00:12:22,280 --> 00:12:23,760 Speaker 1: You want to have a plan to pay that off 279 00:12:23,880 --> 00:12:27,160 Speaker 1: as soon as possible. Next tip, if it's a job 280 00:12:27,320 --> 00:12:29,920 Speaker 1: that's going to be bigger, you want to consider hiring 281 00:12:29,960 --> 00:12:34,720 Speaker 1: an architect to get some detailed drawings. Otherwise, not having 282 00:12:34,720 --> 00:12:37,720 Speaker 1: decisions made ahead of time could cost you way more 283 00:12:37,760 --> 00:12:40,400 Speaker 1: money and cause the project to run longer than expected. 284 00:12:40,920 --> 00:12:42,240 Speaker 1: And when you do this, you want to make sure 285 00:12:42,280 --> 00:12:45,559 Speaker 1: you tell them your overall budget, because you might have 286 00:12:45,760 --> 00:12:48,640 Speaker 1: architects who can do some incredible work and they might 287 00:12:48,720 --> 00:12:53,120 Speaker 1: draw you some amazing plans right for a renovation that 288 00:12:53,200 --> 00:12:55,679 Speaker 1: you could never afford, and you might think to yourself, well, 289 00:12:55,679 --> 00:12:57,640 Speaker 1: how the heck am I supposed to even know my budget? 290 00:12:57,679 --> 00:12:59,640 Speaker 1: But a way that you can get some ballpark numbers 291 00:13:00,160 --> 00:13:02,040 Speaker 1: is to reach out to some contractors, have them come 292 00:13:02,080 --> 00:13:04,520 Speaker 1: by your place and generally go over the score footage 293 00:13:04,520 --> 00:13:06,959 Speaker 1: that you're looking at, adding the general finishes. Most of 294 00:13:06,960 --> 00:13:09,480 Speaker 1: the time you're gonna match your existing house, and they'll 295 00:13:09,520 --> 00:13:12,000 Speaker 1: give you a range. With that range, you can then 296 00:13:12,000 --> 00:13:14,600 Speaker 1: take that to the architect before you pay them thousands 297 00:13:14,640 --> 00:13:17,480 Speaker 1: of dollars to come up with incredibly detailed plans that 298 00:13:17,520 --> 00:13:20,280 Speaker 1: you can't actually do anything with. Oh and another quick 299 00:13:20,280 --> 00:13:22,960 Speaker 1: tip when you're talking to your architect is make sure 300 00:13:23,000 --> 00:13:26,920 Speaker 1: that you are having things designed and drawn to like 301 00:13:27,040 --> 00:13:31,280 Speaker 1: more standard sizes. So, for instance, doors come standard at 302 00:13:31,320 --> 00:13:33,040 Speaker 1: six ft eight If you don't want to be blowing 303 00:13:33,080 --> 00:13:35,160 Speaker 1: your budget out of the water, don't have some detailed 304 00:13:35,200 --> 00:13:37,880 Speaker 1: drawings where you've got this custom seven ft two inch 305 00:13:38,000 --> 00:13:39,880 Speaker 1: door in your house, because guess what those are gonna 306 00:13:39,880 --> 00:13:43,160 Speaker 1: have to be custom made. Considers standard sizes and your 307 00:13:43,240 --> 00:13:46,920 Speaker 1: architect will know what those are. But ultimately, Matt, the 308 00:13:46,960 --> 00:13:50,520 Speaker 1: biggest thing you need to consider when you're jumping into 309 00:13:50,600 --> 00:13:54,679 Speaker 1: potential bigger home renovation is a general contract that's right 310 00:13:54,679 --> 00:13:56,839 Speaker 1: at a g C. The g C can make or 311 00:13:56,880 --> 00:13:59,360 Speaker 1: break the whole thing. And so we've got a few 312 00:13:59,360 --> 00:14:02,400 Speaker 1: tips and selecting the right one. And it's important to 313 00:14:02,440 --> 00:14:06,760 Speaker 1: ask friends and local realtors for recommendations for local contractors. 314 00:14:06,920 --> 00:14:10,079 Speaker 1: And it's really important to get at minimum three different 315 00:14:10,160 --> 00:14:14,080 Speaker 1: quotes from different contractors in your area that will help 316 00:14:14,120 --> 00:14:16,400 Speaker 1: you kind of develop a ballpark of what this project 317 00:14:16,480 --> 00:14:20,040 Speaker 1: might cost. And when you're interviewing those contractors that have 318 00:14:20,120 --> 00:14:23,800 Speaker 1: been recommended to you, it's really important to call their references, 319 00:14:24,080 --> 00:14:26,480 Speaker 1: to ask for references, right, and then to call those references, 320 00:14:26,720 --> 00:14:28,600 Speaker 1: and then you want to even go a step further 321 00:14:28,720 --> 00:14:31,480 Speaker 1: because lots of people do that. They ask for the references, 322 00:14:31,480 --> 00:14:34,240 Speaker 1: they read the references. But if you can actually go 323 00:14:34,320 --> 00:14:37,320 Speaker 1: out and look at a job that they've done, physically, 324 00:14:37,360 --> 00:14:40,200 Speaker 1: go out to someone's house, see the work right, Yeah, 325 00:14:40,400 --> 00:14:42,760 Speaker 1: that is so helpful in seeing, Okay, how good is 326 00:14:42,800 --> 00:14:44,560 Speaker 1: the work? Right? And if you see it in person, 327 00:14:44,840 --> 00:14:47,480 Speaker 1: you can see the little imperfections or the ways in 328 00:14:47,520 --> 00:14:49,960 Speaker 1: which that contractor has taken special care to do a 329 00:14:50,000 --> 00:14:52,640 Speaker 1: great job. Seeing the work in person and talking to 330 00:14:52,680 --> 00:14:54,960 Speaker 1: that individual not just over the phone, but to their 331 00:14:54,960 --> 00:14:58,520 Speaker 1: face where you can actually discuss what the process was like. 332 00:14:58,720 --> 00:15:01,120 Speaker 1: You're gonna get a lot more nation about how that 333 00:15:01,480 --> 00:15:03,800 Speaker 1: how they worked with that contractor how easy it was, 334 00:15:04,080 --> 00:15:06,600 Speaker 1: and how happy they are with you know, the final outcome. 335 00:15:06,880 --> 00:15:08,640 Speaker 1: There's a lot more sort of nuance that goes into 336 00:15:08,680 --> 00:15:11,640 Speaker 1: conversation when you're hanging out in person versus say on 337 00:15:11,680 --> 00:15:13,600 Speaker 1: an email or a quick text, where they might feel 338 00:15:13,600 --> 00:15:15,280 Speaker 1: the needs is sort of gloss over some of the 339 00:15:15,360 --> 00:15:18,120 Speaker 1: things that they didn't love so much. But again, like 340 00:15:18,120 --> 00:15:20,040 Speaker 1: you said, hanging out in person. That's why we like 341 00:15:20,120 --> 00:15:22,360 Speaker 1: to hang out in person. But they're just you have 342 00:15:22,400 --> 00:15:24,800 Speaker 1: more fun and you're able to communicate a lot more 343 00:15:24,960 --> 00:15:27,400 Speaker 1: just robust lye. Yeah. It makes me think of our 344 00:15:27,440 --> 00:15:30,000 Speaker 1: episode Matt that we did about screening a tenant, and 345 00:15:30,120 --> 00:15:33,840 Speaker 1: it's very very similar to that, where that first impression 346 00:15:33,840 --> 00:15:36,480 Speaker 1: that you get of a tenant through email or a 347 00:15:36,480 --> 00:15:39,120 Speaker 1: phone call can be awesome, and then you meet them 348 00:15:39,120 --> 00:15:41,120 Speaker 1: in person and you can tell a whole lot by 349 00:15:41,160 --> 00:15:43,920 Speaker 1: when they show up, how they present themselves, and how 350 00:15:43,960 --> 00:15:46,640 Speaker 1: that walk through the house goes. There's there's so much 351 00:15:46,680 --> 00:15:48,760 Speaker 1: that you can gather from an in person visit that 352 00:15:48,800 --> 00:15:50,920 Speaker 1: you couldn't over a phone call. And the same is 353 00:15:50,920 --> 00:15:53,640 Speaker 1: true when you're picking a general contractor. Another thing is 354 00:15:53,640 --> 00:15:55,880 Speaker 1: that you want to make sure that your general contractor 355 00:15:55,960 --> 00:16:00,240 Speaker 1: is licensed and ensured. Gcs can cost tend to earty 356 00:16:00,360 --> 00:16:03,240 Speaker 1: percent of your total project cost, and that's a lot 357 00:16:03,240 --> 00:16:04,720 Speaker 1: of money, so you want to make sure that you've 358 00:16:04,760 --> 00:16:07,000 Speaker 1: got one that isn't going to end up being a 359 00:16:07,040 --> 00:16:10,160 Speaker 1: liability for you. Yeah, and this vetting process can save 360 00:16:10,200 --> 00:16:11,840 Speaker 1: you a lot of time, a lot of money, and 361 00:16:11,880 --> 00:16:14,000 Speaker 1: a lot of heartache. Spend the extra time on the 362 00:16:14,040 --> 00:16:16,520 Speaker 1: front end to save all of those other things on 363 00:16:16,600 --> 00:16:18,680 Speaker 1: the back end. Keep in mind, though, that when you 364 00:16:18,720 --> 00:16:21,560 Speaker 1: get a quote from your g C or potential g 365 00:16:21,760 --> 00:16:24,840 Speaker 1: C that is just an estimate, is not a final 366 00:16:24,960 --> 00:16:28,200 Speaker 1: bid or or a final price. More than likely there 367 00:16:28,200 --> 00:16:31,600 Speaker 1: are going to be unforeseen things that always arise once 368 00:16:31,640 --> 00:16:34,120 Speaker 1: a renovation is underway, and you want a GC who 369 00:16:34,120 --> 00:16:37,480 Speaker 1: will address these issues with a change work order and 370 00:16:37,520 --> 00:16:40,040 Speaker 1: not just cut corners, because basically, something comes up and 371 00:16:40,080 --> 00:16:42,600 Speaker 1: you've got two options. If the GC feels that you 372 00:16:42,640 --> 00:16:44,600 Speaker 1: know that you're locked into this price and that you're 373 00:16:44,600 --> 00:16:46,800 Speaker 1: not really flexible, well they know that you're not gonna 374 00:16:46,800 --> 00:16:48,720 Speaker 1: want to spend extra money to fix that, and so 375 00:16:48,800 --> 00:16:50,520 Speaker 1: they're they're probably just gonna cut corners, or they're just 376 00:16:50,520 --> 00:16:53,200 Speaker 1: gonna sort of dry all over that rotten spot or 377 00:16:53,200 --> 00:16:55,440 Speaker 1: whatever it is. You want to g C who will 378 00:16:55,480 --> 00:16:58,720 Speaker 1: communicate with you, have these discussions and hopefully that these 379 00:16:58,760 --> 00:17:01,640 Speaker 1: are decisions that you can make together and move forward. Yeah, 380 00:17:01,680 --> 00:17:04,359 Speaker 1: and I feel like that process, Matt, the beginning process, 381 00:17:04,400 --> 00:17:06,439 Speaker 1: that getting to know you kind of process with a 382 00:17:06,480 --> 00:17:10,720 Speaker 1: general contractor receiving their estimates, seeing how they present themselves 383 00:17:10,800 --> 00:17:14,000 Speaker 1: in person to you, whether they're on time, and how 384 00:17:14,080 --> 00:17:16,480 Speaker 1: thorough they are, whether they get their estimate to you 385 00:17:16,520 --> 00:17:18,760 Speaker 1: when they say they will. That is foreshadowing of how 386 00:17:18,800 --> 00:17:21,680 Speaker 1: things are going to go when the renovation process actually begins. 387 00:17:22,119 --> 00:17:24,840 Speaker 1: So take note of that when you're getting your quotes 388 00:17:24,840 --> 00:17:27,920 Speaker 1: from contractors. How that process goes down is going to 389 00:17:28,000 --> 00:17:31,400 Speaker 1: be very indicative of what your future with that contractor 390 00:17:31,400 --> 00:17:33,639 Speaker 1: looks like, Yeah, Joe, I couldn't agree more. Right if 391 00:17:33,680 --> 00:17:35,240 Speaker 1: you If you're gonna have to make like five phone 392 00:17:35,240 --> 00:17:37,360 Speaker 1: calls just to hear back from your contractor to get 393 00:17:37,400 --> 00:17:39,800 Speaker 1: you a quote, chances are they may not be the 394 00:17:39,840 --> 00:17:42,520 Speaker 1: best fit if you're expecting to, you know, hear back 395 00:17:42,560 --> 00:17:45,720 Speaker 1: after one phone call or one text message. You also 396 00:17:45,800 --> 00:17:48,320 Speaker 1: want to have a general contractor who's familiar with the 397 00:17:48,359 --> 00:17:52,000 Speaker 1: permitting process of your particular city. So building codes and 398 00:17:52,080 --> 00:17:55,160 Speaker 1: our standard and international, the local government they're the ones 399 00:17:55,200 --> 00:17:57,879 Speaker 1: who handles the permitting approval process, and they all do 400 00:17:57,920 --> 00:18:01,280 Speaker 1: it differently. What documents they expect varies and how they 401 00:18:01,280 --> 00:18:04,000 Speaker 1: want that presented. All that varies, and so you want 402 00:18:04,080 --> 00:18:07,080 Speaker 1: a g C who is familiar with that process and 403 00:18:07,240 --> 00:18:10,120 Speaker 1: knows how to sort of streamline that and quickly move 404 00:18:10,160 --> 00:18:12,959 Speaker 1: it along. That's gonna have a huge impact on the 405 00:18:13,000 --> 00:18:17,000 Speaker 1: projected amount of time. However, even if you are using 406 00:18:17,040 --> 00:18:20,160 Speaker 1: and experienced local contractor, you might want to consider using 407 00:18:20,200 --> 00:18:23,199 Speaker 1: an expediter if time is of the essence for you. 408 00:18:23,440 --> 00:18:25,639 Speaker 1: They'll be the ones who are most knowledgeable with what 409 00:18:25,720 --> 00:18:29,200 Speaker 1: your local permitting office is looking for, and hopefully they're 410 00:18:29,200 --> 00:18:30,959 Speaker 1: not doing anything illegal, but they're the ones who can 411 00:18:31,000 --> 00:18:32,760 Speaker 1: kind of take your plans and set it over on 412 00:18:32,760 --> 00:18:35,359 Speaker 1: their buddies desk, and who knows, maybe they'll get to 413 00:18:35,440 --> 00:18:37,720 Speaker 1: reviewing your plans two or three weeks before they would 414 00:18:37,760 --> 00:18:39,960 Speaker 1: have otherwise. You gotta love a good wheel grease and 415 00:18:41,440 --> 00:18:44,600 Speaker 1: don't pay big amounts up front and never pay in 416 00:18:44,720 --> 00:18:47,280 Speaker 1: full to your contractor, and you want to make sure 417 00:18:47,480 --> 00:18:50,040 Speaker 1: that you withhold final payment until the project is a 418 00:18:50,880 --> 00:18:53,840 Speaker 1: complete I've heard stories of people that pay their final 419 00:18:53,880 --> 00:18:56,680 Speaker 1: payment to their contractor before the final punch list is 420 00:18:56,720 --> 00:18:59,399 Speaker 1: all done, and obviously there are even worse stories than that, 421 00:18:59,760 --> 00:19:03,560 Speaker 1: but there's work that still remains incomplete on the renovation 422 00:19:03,640 --> 00:19:06,640 Speaker 1: that you're doing. You shouldn't pay the contractor until all 423 00:19:06,680 --> 00:19:09,719 Speaker 1: of those things are completed, because once that last check 424 00:19:09,920 --> 00:19:12,800 Speaker 1: has been put in the hand of that GC they're 425 00:19:12,840 --> 00:19:15,679 Speaker 1: gone like that's that's it. Their job is complete, at 426 00:19:15,720 --> 00:19:17,359 Speaker 1: least that's the way they're going to view it. And 427 00:19:17,400 --> 00:19:20,200 Speaker 1: so you want to make sure that you withhold until 428 00:19:20,280 --> 00:19:23,600 Speaker 1: you're completely satisfied that all the work has been completed 429 00:19:23,760 --> 00:19:26,360 Speaker 1: according to the plans that you set out. Yeah, and Joel, 430 00:19:26,400 --> 00:19:29,040 Speaker 1: and certainly this is definitely the case too with smaller subs, 431 00:19:29,160 --> 00:19:31,119 Speaker 1: right like, if you say we're just gonna like have 432 00:19:31,240 --> 00:19:33,320 Speaker 1: a contractor sort of put a new roof on your 433 00:19:33,320 --> 00:19:35,919 Speaker 1: house or something like that, you never pay until the 434 00:19:35,960 --> 00:19:38,719 Speaker 1: project or the job is done. However, typically with a 435 00:19:38,760 --> 00:19:42,560 Speaker 1: bigger job with a general contractor, typically there's a payment 436 00:19:42,640 --> 00:19:46,320 Speaker 1: schedule and there's draws that are planned at different completion 437 00:19:46,400 --> 00:19:48,520 Speaker 1: points in the work. Those are the kind of details 438 00:19:48,520 --> 00:19:50,320 Speaker 1: that you're gonna want to see in the contract with 439 00:19:50,400 --> 00:19:52,760 Speaker 1: your general contractor, and some of that you can negotiate 440 00:19:52,840 --> 00:19:54,920 Speaker 1: if there's, you know, something weird or something that stains 441 00:19:54,920 --> 00:19:57,920 Speaker 1: out to you. But keep an eye out for work 442 00:19:58,040 --> 00:20:00,480 Speaker 1: and payment that looks like they should sort of mirror 443 00:20:00,520 --> 00:20:03,399 Speaker 1: each other and coincide, because factly, sometimes there's just a 444 00:20:03,400 --> 00:20:05,480 Speaker 1: lot of material that need to be purchased, and there's 445 00:20:05,520 --> 00:20:08,320 Speaker 1: other sort of subs that need to get reserved sort 446 00:20:08,359 --> 00:20:10,480 Speaker 1: of in a sense where they're paid a deposits under 447 00:20:10,520 --> 00:20:13,080 Speaker 1: the general contractor. So, you know, we haven't even mentioned this, 448 00:20:13,080 --> 00:20:15,160 Speaker 1: but a general contractor is sort of like the manager 449 00:20:15,640 --> 00:20:17,920 Speaker 1: of the job. They're typically not the one who's doing 450 00:20:18,040 --> 00:20:20,600 Speaker 1: much of any of the actual work on your house. 451 00:20:20,840 --> 00:20:22,960 Speaker 1: They might do like some trim work or some sort 452 00:20:22,960 --> 00:20:25,320 Speaker 1: of miscellaneous odd job work here and there, but they're 453 00:20:25,359 --> 00:20:28,840 Speaker 1: the ones who are coordinating scheduling the subs and making 454 00:20:28,840 --> 00:20:31,439 Speaker 1: sure they are there on time. They're the ones overseeing 455 00:20:31,520 --> 00:20:34,800 Speaker 1: the entire project and going back to deposits that they 456 00:20:34,800 --> 00:20:38,280 Speaker 1: are giving. Sometimes they are needing to reserve their subs 457 00:20:38,680 --> 00:20:41,640 Speaker 1: to make sure that they're good for the job as well. So, Matt, 458 00:20:41,680 --> 00:20:44,200 Speaker 1: I feel like that does beg the question do people 459 00:20:44,320 --> 00:20:47,600 Speaker 1: even need a general contractor? And that's a great question 460 00:20:47,680 --> 00:20:51,280 Speaker 1: to ask, because, as you mentioned, a general contractor can 461 00:20:51,359 --> 00:20:55,160 Speaker 1: often make ten tot of the overall price of your innovation, 462 00:20:55,600 --> 00:20:59,200 Speaker 1: and depending on the scope of your innovation and your 463 00:20:59,280 --> 00:21:03,040 Speaker 1: personal availa ability, your specific need for a general contractor varies. 464 00:21:03,080 --> 00:21:04,399 Speaker 1: And so we'll kind of get into that and some 465 00:21:04,480 --> 00:21:07,000 Speaker 1: other cost saving measures that you can take when you're 466 00:21:07,080 --> 00:21:18,679 Speaker 1: undergoing a home renovation right after the break, All right, 467 00:21:18,760 --> 00:21:21,680 Speaker 1: jul let's now talk about whether you should or shouldn't 468 00:21:21,680 --> 00:21:24,720 Speaker 1: have a general contractor. And so, if you're a type 469 00:21:24,920 --> 00:21:29,000 Speaker 1: a personality, right, you might consider being your own general 470 00:21:29,040 --> 00:21:32,960 Speaker 1: contractor if you have the time and knowledge. This is 471 00:21:32,960 --> 00:21:35,480 Speaker 1: gonna be a little controversial of a statement to make. 472 00:21:36,000 --> 00:21:38,720 Speaker 1: Chances are you're gonna be pouring over the details and 473 00:21:38,760 --> 00:21:41,000 Speaker 1: wanting to know why everything is happening the way it 474 00:21:41,119 --> 00:21:43,440 Speaker 1: is anyway, So check with your state laws, as some 475 00:21:43,560 --> 00:21:46,919 Speaker 1: require a license, sometimes with experience, but that might be 476 00:21:46,960 --> 00:21:50,920 Speaker 1: a way that you could save some serious amount of money. However, 477 00:21:51,320 --> 00:21:54,920 Speaker 1: I will say that most people will want a general contractor. 478 00:21:55,119 --> 00:21:57,639 Speaker 1: Most folks renovating their home can't take on their added 479 00:21:57,640 --> 00:22:02,000 Speaker 1: responsibility of basically another full time job making the decisions, 480 00:22:02,080 --> 00:22:04,959 Speaker 1: or even having the knowledge or the experience in dealing 481 00:22:05,040 --> 00:22:09,760 Speaker 1: with subcontractors. A good general contractor is totally worth it. 482 00:22:09,760 --> 00:22:13,520 Speaker 1: They've got relationships with suppliers with subcontractors, like I just mentioned, 483 00:22:13,560 --> 00:22:17,080 Speaker 1: They've got that experience, you know, those relationships with subcontractors. 484 00:22:17,119 --> 00:22:20,720 Speaker 1: That's honestly what kind of makes or breaks a renovation. 485 00:22:20,840 --> 00:22:24,080 Speaker 1: And like having framers or a roofer or a plumber 486 00:22:24,160 --> 00:22:26,280 Speaker 1: or an electrician to have them show up when they're 487 00:22:26,320 --> 00:22:29,879 Speaker 1: supposed to. That's the difference between your project running months 488 00:22:29,880 --> 00:22:32,680 Speaker 1: over when it should be finished and it's staying on time, 489 00:22:32,760 --> 00:22:34,840 Speaker 1: or that's the difference between you going way over a budget, 490 00:22:34,840 --> 00:22:37,359 Speaker 1: because this is something that wasn't considered because there wasn't 491 00:22:37,359 --> 00:22:40,119 Speaker 1: somebody overseeing the entire project to it falling within the 492 00:22:40,119 --> 00:22:42,639 Speaker 1: scope and the budget that you were expecting. You know, 493 00:22:42,680 --> 00:22:45,480 Speaker 1: as a homeowner and someone who's renovating their house currently, 494 00:22:45,880 --> 00:22:48,600 Speaker 1: dud we make so many decisions right now, I could 495 00:22:48,600 --> 00:22:52,080 Speaker 1: not imagine having to also make tons and tons of 496 00:22:52,080 --> 00:22:55,199 Speaker 1: other decisions that involve people that we aren't talking to 497 00:22:55,400 --> 00:22:58,560 Speaker 1: every single day. Yeah, especially if you're kind of a 498 00:22:58,600 --> 00:23:01,520 Speaker 1: novice homeowner, it really isn't even something that should you 499 00:23:01,560 --> 00:23:04,800 Speaker 1: should consider. If you have a little bit of experience 500 00:23:04,800 --> 00:23:06,560 Speaker 1: when it comes to building, or you're taking on a 501 00:23:06,640 --> 00:23:10,400 Speaker 1: much lighter project, maybe you want to think about being 502 00:23:10,440 --> 00:23:13,440 Speaker 1: your own GC. If you're hiring just a few subcontractors 503 00:23:13,720 --> 00:23:17,359 Speaker 1: and hopefully you've had experience with some of those subcontractors before. 504 00:23:17,640 --> 00:23:20,920 Speaker 1: But if you're whipping out the yellow pages and thinking 505 00:23:21,240 --> 00:23:23,240 Speaker 1: and thinking that you're gonna find the right folks to 506 00:23:23,400 --> 00:23:26,440 Speaker 1: complete your innovation, and you need to hire everybody from, 507 00:23:26,520 --> 00:23:30,199 Speaker 1: like you said, framers to electricians to tile workers. Chances 508 00:23:30,280 --> 00:23:32,800 Speaker 1: are you're better off in the hands of a general contractor. 509 00:23:32,960 --> 00:23:34,960 Speaker 1: And basically, if you have to Google like should I 510 00:23:35,000 --> 00:23:38,879 Speaker 1: be my own general contractor, you probably shouldn't. Yeah, Google 511 00:23:38,920 --> 00:23:43,560 Speaker 1: disresponds big nope. Yeah. Another important question Matt to ask 512 00:23:43,680 --> 00:23:46,040 Speaker 1: is but what can you do yourself? Right? And that's 513 00:23:46,040 --> 00:23:49,000 Speaker 1: an important question because we would never tell anyone to 514 00:23:49,040 --> 00:23:51,640 Speaker 1: shy away from a good d I Y project. And 515 00:23:51,760 --> 00:23:53,960 Speaker 1: if you can save some money by tackling some of 516 00:23:53,960 --> 00:23:57,320 Speaker 1: these projects yourself, that's freaking awesome. We're all about that, right, 517 00:23:57,359 --> 00:23:59,160 Speaker 1: And there are little things that you can do along 518 00:23:59,160 --> 00:24:01,320 Speaker 1: the way they could save your self thousands of dollars 519 00:24:01,359 --> 00:24:04,520 Speaker 1: in a home renovation that we think you should totally consider. 520 00:24:04,840 --> 00:24:06,879 Speaker 1: And the first part of that is the beginning, and 521 00:24:06,920 --> 00:24:09,600 Speaker 1: it's the demo that's actually kind of the more fun 522 00:24:09,640 --> 00:24:11,240 Speaker 1: part too. Right. You get a big sledgehammer, you start 523 00:24:11,320 --> 00:24:13,960 Speaker 1: knocking out kitchen cabinets or whatever that is. And that's 524 00:24:14,000 --> 00:24:16,719 Speaker 1: something that you can actually save some money on by 525 00:24:16,880 --> 00:24:18,760 Speaker 1: telling your contractor, hey, we're going to take care of 526 00:24:18,760 --> 00:24:20,840 Speaker 1: the demo, making sure you know the scope of what 527 00:24:20,880 --> 00:24:23,000 Speaker 1: you actually need to take on in that demo, but 528 00:24:23,080 --> 00:24:24,719 Speaker 1: that's a kind of maybe fun way to get your 529 00:24:24,720 --> 00:24:26,840 Speaker 1: aggression out and save some money at the same time. 530 00:24:27,280 --> 00:24:31,119 Speaker 1: What kind of aggression are you dealing with? Man and painting, dude, 531 00:24:31,119 --> 00:24:32,639 Speaker 1: that's something else that a lot of people can do 532 00:24:32,680 --> 00:24:35,600 Speaker 1: and have done themselves as well. Yeah, that's usually one 533 00:24:35,640 --> 00:24:38,320 Speaker 1: of the last things right on the list is painting 534 00:24:38,320 --> 00:24:40,520 Speaker 1: a room. And so yeah, if you can handle the 535 00:24:40,520 --> 00:24:42,159 Speaker 1: front end, a little bit of demo, the back end, 536 00:24:42,200 --> 00:24:44,520 Speaker 1: a little bit of painting, you can save yourself big money. 537 00:24:44,720 --> 00:24:46,240 Speaker 1: And then you're also kind of not getting in the 538 00:24:46,240 --> 00:24:48,320 Speaker 1: way of some of those subcontractors that are that are 539 00:24:48,320 --> 00:24:50,639 Speaker 1: doing some of the heavy lifting in the middle and 540 00:24:50,640 --> 00:24:53,280 Speaker 1: while interior painting, you know, it seems totally doable. I'm 541 00:24:53,320 --> 00:24:55,960 Speaker 1: not sure we would recommend you taking on the exterior 542 00:24:56,000 --> 00:24:58,439 Speaker 1: painting of your house, in particular if it's more than 543 00:24:58,520 --> 00:25:02,959 Speaker 1: one story, because you might die. Death is not worth it. 544 00:25:03,280 --> 00:25:06,719 Speaker 1: Another tip is to consider saving money by getting recycled materials. 545 00:25:06,760 --> 00:25:11,120 Speaker 1: You could visit your local habitat for Humanity restore. This 546 00:25:11,160 --> 00:25:13,400 Speaker 1: is something that we've done when we were adding a 547 00:25:13,560 --> 00:25:16,240 Speaker 1: storage room onto one of our rental properties. We found 548 00:25:16,240 --> 00:25:19,360 Speaker 1: an awesome, perfectly sized window that we were needing on 549 00:25:19,440 --> 00:25:22,199 Speaker 1: a wall that we're putting in, and we saved so 550 00:25:22,280 --> 00:25:24,520 Speaker 1: much money by picking up this random window. And sure 551 00:25:24,520 --> 00:25:26,280 Speaker 1: it doesn't really match the other windows in the house, 552 00:25:26,280 --> 00:25:28,000 Speaker 1: but you know what, none of the other windows really 553 00:25:28,000 --> 00:25:30,800 Speaker 1: matched either, so it doesn't really matter. And also consider 554 00:25:30,840 --> 00:25:34,199 Speaker 1: picking up remnants of say like a countertop. You can 555 00:25:34,240 --> 00:25:36,760 Speaker 1: go to a countertop warehouse or installer and a lot 556 00:25:36,760 --> 00:25:39,119 Speaker 1: of times we'll have remnants on site from a bigger 557 00:25:39,240 --> 00:25:41,760 Speaker 1: job where there's pieces of say that granite or that 558 00:25:41,840 --> 00:25:43,879 Speaker 1: marble that they couldn't use from the larger piece that 559 00:25:43,880 --> 00:25:45,720 Speaker 1: they cut it from. And you know what, if you 560 00:25:45,720 --> 00:25:48,399 Speaker 1: were just remodeling a smaller kitchen, or you only needed 561 00:25:48,400 --> 00:25:50,680 Speaker 1: that for maybe an island, you could say some huge 562 00:25:50,680 --> 00:25:52,399 Speaker 1: money by just picking up this piece that they were 563 00:25:52,400 --> 00:25:54,480 Speaker 1: going to end up just tossing in the trash. Yeah, 564 00:25:54,520 --> 00:25:57,800 Speaker 1: and let's say you've got appliances that are in solid condition, 565 00:25:58,119 --> 00:26:01,280 Speaker 1: man reuse the appliances, don't tossos out. That's like a 566 00:26:01,359 --> 00:26:03,920 Speaker 1: common thing that people do when they renovate. They go 567 00:26:04,080 --> 00:26:06,080 Speaker 1: all the way and they end up tossing out something 568 00:26:06,119 --> 00:26:08,679 Speaker 1: that's perfectly good if you've built it into your budget 569 00:26:08,720 --> 00:26:10,840 Speaker 1: and that's a strong desire to to have, you know, 570 00:26:10,880 --> 00:26:12,920 Speaker 1: new appliances at the same time. I mean, I think 571 00:26:12,920 --> 00:26:15,920 Speaker 1: that's okay. I just know that it deserves a mention. Matt. 572 00:26:16,000 --> 00:26:18,840 Speaker 1: I know you're salvaging some of yours and that just 573 00:26:18,880 --> 00:26:21,000 Speaker 1: cuts down on the overall costa of the rental that 574 00:26:21,040 --> 00:26:24,359 Speaker 1: you're undertaking. Yeah, man, that's true. However, we did have 575 00:26:24,400 --> 00:26:26,000 Speaker 1: to get a new dishwasher. Did I tell you my 576 00:26:26,080 --> 00:26:29,000 Speaker 1: dishwasher story? How we were limping along with his dishwasher 577 00:26:29,040 --> 00:26:33,440 Speaker 1: that we got for free, so our old dishwasher essentially 578 00:26:33,440 --> 00:26:36,119 Speaker 1: stopped properly working. I mean, it just was not cleaning 579 00:26:36,119 --> 00:26:38,800 Speaker 1: the dishes, and we knew that we were going to 580 00:26:38,840 --> 00:26:40,960 Speaker 1: have to get a new dishwasher at some point. But 581 00:26:41,280 --> 00:26:43,840 Speaker 1: I found one for free. A friend kind of put 582 00:26:43,880 --> 00:26:45,679 Speaker 1: us in touch with somebody else that had purchased a 583 00:26:45,680 --> 00:26:48,399 Speaker 1: rental and they were swapping out those appliances. But the 584 00:26:48,440 --> 00:26:52,440 Speaker 1: dishwasher totally worked. Being the frugal guy hopefully not cheap 585 00:26:52,880 --> 00:26:54,879 Speaker 1: that I am. Uh dude, I went over there and 586 00:26:54,920 --> 00:26:57,280 Speaker 1: grabbed it was already uninstalled, brought it over to our 587 00:26:57,280 --> 00:26:59,840 Speaker 1: place quickly, was able to get it in there. And dude, 588 00:26:59,840 --> 00:27:03,320 Speaker 1: I tell you what, that base model tends a twenty 589 00:27:03,400 --> 00:27:06,800 Speaker 1: year old dishwasher with dust all over. It worked so well, 590 00:27:07,119 --> 00:27:10,119 Speaker 1: way better than that old stainless steel dishwasher that we had. 591 00:27:10,359 --> 00:27:12,119 Speaker 1: But I love that idea for a lot of folks. 592 00:27:12,119 --> 00:27:14,199 Speaker 1: If your appliances are only a few years old, if 593 00:27:14,240 --> 00:27:17,119 Speaker 1: they are in solid condition, like, think about keeping it 594 00:27:17,160 --> 00:27:19,679 Speaker 1: as opposed to replacing something that's perfectly good the way 595 00:27:19,720 --> 00:27:22,080 Speaker 1: it is. Yeah, or even if they're mismashed a little bit, like, 596 00:27:22,160 --> 00:27:24,680 Speaker 1: no one really cares if your appliances don't all match 597 00:27:24,800 --> 00:27:26,919 Speaker 1: orf they're all from the same suite. Yeah, And just 598 00:27:26,960 --> 00:27:30,040 Speaker 1: like that new car, smell it. Honestly, it doesn't last 599 00:27:30,119 --> 00:27:32,560 Speaker 1: very long. And that same feeling that you get when 600 00:27:32,600 --> 00:27:35,040 Speaker 1: you walk into a brand new kitchen with brand new appliances, 601 00:27:35,240 --> 00:27:38,439 Speaker 1: you know what, that feeling doesn't last all that long either, enjol. 602 00:27:38,560 --> 00:27:41,760 Speaker 1: Something else to consider is think about whether you would 603 00:27:41,760 --> 00:27:45,920 Speaker 1: be happy with more cosmetic changes like painting or maybe 604 00:27:46,000 --> 00:27:50,119 Speaker 1: getting that new backsplash versus moving walls and taking on 605 00:27:50,160 --> 00:27:53,360 Speaker 1: a huge project. You know, if you consider not changing 606 00:27:53,359 --> 00:27:58,240 Speaker 1: the layouts, that can save you huge, huge amounts of money. However, 607 00:27:58,280 --> 00:28:00,399 Speaker 1: if you are going to move some walls, consider not 608 00:28:00,520 --> 00:28:04,240 Speaker 1: moving major systems, anything that involves large amounts of HVAC 609 00:28:04,480 --> 00:28:07,160 Speaker 1: or electrical or plumbing. These are all things that are 610 00:28:07,160 --> 00:28:10,119 Speaker 1: going to require each one of those subcontractors to be 611 00:28:10,160 --> 00:28:13,479 Speaker 1: in there to do that work, and all that adds up. So, 612 00:28:13,560 --> 00:28:16,160 Speaker 1: for example, think about the bathroom. Right, if you're gonna 613 00:28:16,200 --> 00:28:18,040 Speaker 1: update that bathroom, you're gonna get any toilet in there, 614 00:28:18,119 --> 00:28:20,159 Speaker 1: replace the tile, maybe switch out the sink, get some 615 00:28:20,160 --> 00:28:22,639 Speaker 1: new faucets. It's gonna cost you a lot of money. However, 616 00:28:23,160 --> 00:28:25,520 Speaker 1: if you're gonna move that bathroom from point A to 617 00:28:25,600 --> 00:28:28,240 Speaker 1: point B, that's gonna cost you way more money because 618 00:28:28,240 --> 00:28:30,919 Speaker 1: you're involving a plumber. You're having to basically rebuild that 619 00:28:30,960 --> 00:28:33,880 Speaker 1: bathroom in a different location. Yeah. You know something else 620 00:28:33,960 --> 00:28:37,080 Speaker 1: that adds up, Matt, the secondary cost of renovation after 621 00:28:37,119 --> 00:28:39,320 Speaker 1: the fact, And so it's really important to take those 622 00:28:39,360 --> 00:28:42,440 Speaker 1: into consideration before you sign a contract with a general 623 00:28:42,480 --> 00:28:45,280 Speaker 1: contractor and before you actually start demo. So you mean 624 00:28:45,360 --> 00:28:47,520 Speaker 1: like adding onto your house or making it a little 625 00:28:47,520 --> 00:28:49,760 Speaker 1: bit bigger, Yeah, exactly. So a lot of people that 626 00:28:49,800 --> 00:28:54,080 Speaker 1: are considering a home renovation, they are adding on square footage, 627 00:28:54,120 --> 00:28:57,360 Speaker 1: potentially to a house. And so if you are doing that, 628 00:28:57,720 --> 00:29:00,760 Speaker 1: not only do you have to consider you just mentioned 629 00:29:01,000 --> 00:29:03,880 Speaker 1: moving plumbing or electricity around, which adds a lot to 630 00:29:03,920 --> 00:29:07,200 Speaker 1: the costs of that renovation, but also your taxes will 631 00:29:07,240 --> 00:29:10,200 Speaker 1: go up because of the increased square footage. You'll also 632 00:29:10,360 --> 00:29:13,840 Speaker 1: likely end up paying higher energy bills because of that renovation. 633 00:29:14,120 --> 00:29:16,160 Speaker 1: You got a heat and cool that space, man, exactly, 634 00:29:16,160 --> 00:29:18,760 Speaker 1: it's more space to take care of, and so that's 635 00:29:18,760 --> 00:29:20,840 Speaker 1: just gonna cost you more money. That's right, though, That's 636 00:29:20,880 --> 00:29:23,800 Speaker 1: an important consideration. That was episode forty eight where we 637 00:29:23,840 --> 00:29:27,000 Speaker 1: talked about why everything costs more than you think. Yeah, 638 00:29:27,000 --> 00:29:29,320 Speaker 1: and home renovation costs more than just the bottom line 639 00:29:29,320 --> 00:29:31,840 Speaker 1: on the contract that you get from your general contractor 640 00:29:32,120 --> 00:29:34,920 Speaker 1: before the actual renovations begin. It costs you more in 641 00:29:34,960 --> 00:29:37,400 Speaker 1: time and money usually than that. And then on top 642 00:29:37,440 --> 00:29:39,400 Speaker 1: of that, there are secondary costs that you have to 643 00:29:39,400 --> 00:29:42,440 Speaker 1: think about. Just don't forget to consider those before you 644 00:29:42,560 --> 00:29:44,640 Speaker 1: dive in head first. All right, Gel, that's right man. 645 00:29:44,680 --> 00:29:46,800 Speaker 1: Let's go ahead now, and let's get back to our beer. 646 00:29:47,040 --> 00:29:50,280 Speaker 1: We are drinking an Apple brandy barrel noir, which is 647 00:29:50,320 --> 00:29:54,520 Speaker 1: an Imperial stout by Prairie artisan Ales, and I'm gonna 648 00:29:54,560 --> 00:29:56,240 Speaker 1: go ahead and kick it off with my wordman, which 649 00:29:56,320 --> 00:29:58,840 Speaker 1: was apple, like the apple I love it. That was 650 00:29:58,880 --> 00:30:00,560 Speaker 1: almost the word I went with. And the reason I 651 00:30:00,600 --> 00:30:03,080 Speaker 1: said that was because literally, that's what you smelled like 652 00:30:03,120 --> 00:30:04,720 Speaker 1: on the nose. Like on the nose, what it smelled 653 00:30:04,760 --> 00:30:07,360 Speaker 1: like to me was like a bowl of apple jacks, 654 00:30:07,400 --> 00:30:11,640 Speaker 1: just that apple, wheat and grainy smell. However, when we 655 00:30:11,720 --> 00:30:13,240 Speaker 1: tasted the beer, dude, I did I feel like I 656 00:30:13,280 --> 00:30:15,840 Speaker 1: didn't taste the apple nearly as much as I smelled 657 00:30:15,880 --> 00:30:18,640 Speaker 1: it like on the nose, strong apple in my mouth, 658 00:30:19,160 --> 00:30:23,400 Speaker 1: wheat apple. I felt like the barrel actually influenced this 659 00:30:23,480 --> 00:30:26,880 Speaker 1: beer so strongly. Yeah, you could totally taste that. I'd 660 00:30:26,880 --> 00:30:29,959 Speaker 1: be so interested to know how long this beer was 661 00:30:30,080 --> 00:30:32,720 Speaker 1: in the barrels, because that can completely change the way 662 00:30:32,720 --> 00:30:34,920 Speaker 1: a beer taste. And some breweries will put something in 663 00:30:34,960 --> 00:30:37,080 Speaker 1: for a couple of months and you get very very 664 00:30:37,160 --> 00:30:40,000 Speaker 1: light barrel flavor, and this beer it must have been 665 00:30:40,040 --> 00:30:42,960 Speaker 1: for a year or close to it, because you got 666 00:30:43,040 --> 00:30:46,640 Speaker 1: ten years. Who knows, because you've got a huge amount 667 00:30:46,680 --> 00:30:49,080 Speaker 1: of that apple brandy barrel on the nose in the 668 00:30:49,080 --> 00:30:52,040 Speaker 1: flavor profile. And so that's why my word was barrel 669 00:30:52,080 --> 00:30:54,120 Speaker 1: because I feel like the barrel was the big stand 670 00:30:54,120 --> 00:30:56,720 Speaker 1: out here. I got to know that barrel and the 671 00:30:56,760 --> 00:31:00,560 Speaker 1: flavors that it didn't parted through this beer very very well. Yeah, definitely, 672 00:31:00,640 --> 00:31:02,680 Speaker 1: there's a lot of roasted flavors. And I agree with 673 00:31:02,760 --> 00:31:04,440 Speaker 1: you as far as the barrel. It added a lot 674 00:31:04,440 --> 00:31:06,600 Speaker 1: of earthiness to it, Like it felt like I had 675 00:31:06,640 --> 00:31:09,760 Speaker 1: my nose down in like wet earth mixed with coffee. 676 00:31:09,880 --> 00:31:11,920 Speaker 1: It's like I had a hot cup of coffee next 677 00:31:11,960 --> 00:31:13,840 Speaker 1: to my apple Jacks and I'm sitting there and it's 678 00:31:13,840 --> 00:31:15,640 Speaker 1: just like all wafting up towards my nose. But I 679 00:31:15,720 --> 00:31:18,280 Speaker 1: thought you switched to hot water. I do drink hot 680 00:31:18,280 --> 00:31:21,040 Speaker 1: water throughout the day, but I drink coffee in the 681 00:31:21,040 --> 00:31:25,040 Speaker 1: afternoon that's right when I eat my apple Jack's. Yeah, 682 00:31:25,040 --> 00:31:27,320 Speaker 1: this was a delicious beer. Thanks so much to Jeff 683 00:31:27,360 --> 00:31:30,600 Speaker 1: and Val for sending that over. It's always greatly appreciated 684 00:31:30,600 --> 00:31:33,480 Speaker 1: when a listeners sending a beer, and especially a beer 685 00:31:33,560 --> 00:31:36,160 Speaker 1: of this sort of magnitude. This was incredible, all right, 686 00:31:36,200 --> 00:31:37,920 Speaker 1: mat Let's get to our final thoughts, and a really 687 00:31:37,960 --> 00:31:40,840 Speaker 1: important thing to mention is that pay in cash, or 688 00:31:40,840 --> 00:31:43,160 Speaker 1: at least saving up a substantial amount of cash when 689 00:31:43,160 --> 00:31:46,280 Speaker 1: you're considering a home renovation is so important, And honestly, 690 00:31:46,280 --> 00:31:48,240 Speaker 1: it feels like something that people would laugh at or 691 00:31:48,240 --> 00:31:50,760 Speaker 1: scoff at in this day and age of easy home 692 00:31:50,840 --> 00:31:54,040 Speaker 1: loan reefinances and home equity lines of credit. Well why 693 00:31:54,080 --> 00:31:56,760 Speaker 1: not finance it when I can? But we would say 694 00:31:56,960 --> 00:31:59,000 Speaker 1: save up as much as you can. It's gonna put 695 00:31:59,040 --> 00:32:01,880 Speaker 1: you in a better position to tackle this potential home rental. 696 00:32:02,240 --> 00:32:04,040 Speaker 1: That's right, man, you don't want to foot your future 697 00:32:04,080 --> 00:32:07,840 Speaker 1: self with the bill from today's lifestyle. And another tip 698 00:32:07,920 --> 00:32:09,800 Speaker 1: that I think is pretty important man, is to consider 699 00:32:09,840 --> 00:32:12,080 Speaker 1: an architect, not just an architect that will give you 700 00:32:12,120 --> 00:32:14,680 Speaker 1: the basic plans, right. You don't want to go cheap 701 00:32:14,920 --> 00:32:18,320 Speaker 1: if it's a bigger project, consider having detailed drawings that 702 00:32:18,360 --> 00:32:21,480 Speaker 1: will save you so many decisions. And Kate and I 703 00:32:21,520 --> 00:32:25,040 Speaker 1: have had incredible decision fatigue. This is something that can 704 00:32:25,080 --> 00:32:27,440 Speaker 1: save you just a lot of that time stuck. We're 705 00:32:27,440 --> 00:32:30,240 Speaker 1: constantly on call to make decisions. Yeah, and the decision 706 00:32:30,280 --> 00:32:32,400 Speaker 1: that you make when it comes to a general contractor 707 00:32:32,680 --> 00:32:36,320 Speaker 1: is probably the most important decision you're gonna make when 708 00:32:36,320 --> 00:32:39,320 Speaker 1: it comes to your renovation. It can make or break 709 00:32:39,400 --> 00:32:42,160 Speaker 1: the entire process for you and so we would say, 710 00:32:42,240 --> 00:32:46,280 Speaker 1: have a strenuous vetting process where you interview multiple three 711 00:32:46,480 --> 00:32:50,640 Speaker 1: or more general contractors and get solid recommendations from friends 712 00:32:50,640 --> 00:32:54,240 Speaker 1: that have renovated and from local realtors. Yeah, and if 713 00:32:54,240 --> 00:32:56,960 Speaker 1: you are pretty handy man, truly consider the different things 714 00:32:57,000 --> 00:33:00,480 Speaker 1: that you can d i Y, things like painting or demo. However, 715 00:33:00,520 --> 00:33:03,280 Speaker 1: for most folks, you probably aren't going to be able 716 00:33:03,320 --> 00:33:06,400 Speaker 1: to d I Y being the general contractor. Most likely 717 00:33:06,480 --> 00:33:09,120 Speaker 1: it'll be best to leave that to the pros. And lastly, 718 00:33:09,200 --> 00:33:12,640 Speaker 1: it's really important to consider whether you'd be happy with 719 00:33:12,760 --> 00:33:17,040 Speaker 1: some smaller cosmetic changes. Taking on a big renovation is 720 00:33:17,080 --> 00:33:19,959 Speaker 1: life changing. It can suck a bunch of your energy 721 00:33:20,080 --> 00:33:22,840 Speaker 1: and time and a lot of your money. So going 722 00:33:22,960 --> 00:33:26,120 Speaker 1: in a simpler direction can provide you a lot of 723 00:33:26,160 --> 00:33:28,440 Speaker 1: what you're looking for at a much cheaper price point. 724 00:33:28,520 --> 00:33:30,600 Speaker 1: And do did we even talk about storage solutions? I 725 00:33:30,640 --> 00:33:33,120 Speaker 1: bet you could spend one percent of what your innovation 726 00:33:33,200 --> 00:33:35,440 Speaker 1: might cost awesome, really nice storage at your place. And 727 00:33:35,480 --> 00:33:37,280 Speaker 1: I bet that alone, right there could buy you another 728 00:33:37,320 --> 00:33:39,960 Speaker 1: four to five years in your house. Yeah, depending on 729 00:33:40,040 --> 00:33:42,960 Speaker 1: your situation, really good storage can be a big difference maker. 730 00:33:43,160 --> 00:33:45,320 Speaker 1: All right, Matt, that's gonna do it for this episode. 731 00:33:45,400 --> 00:33:48,360 Speaker 1: You can find show notes for this episode on our website, 732 00:33:48,440 --> 00:33:50,720 Speaker 1: how to money dot com. Yeah, and if you found 733 00:33:50,720 --> 00:33:53,320 Speaker 1: the things that Joe and I talk about helpful or 734 00:33:53,360 --> 00:33:56,600 Speaker 1: interesting or even mildly entertaining, we would love to hear 735 00:33:56,640 --> 00:33:59,320 Speaker 1: from you. We would really appreciate if you were able 736 00:33:59,400 --> 00:34:02,600 Speaker 1: to leave us a review on Apple Podcasts. You know 737 00:34:02,640 --> 00:34:03,960 Speaker 1: that helps to get the word out, so you know, 738 00:34:04,000 --> 00:34:06,800 Speaker 1: share your thoughts. It's like a big red megaphone for 739 00:34:06,880 --> 00:34:10,839 Speaker 1: potential listeners. Yeah. Man, that's right. And so until next time, 740 00:34:11,239 --> 00:34:12,839 Speaker 1: best friends out, Yeah, best friends Out.