Defining someday

saving (1)Rebuilding the addition and building a new garage were always “someday” things that we were going to do at some point “down the road.” When we moved into our money pit 8 years ago, the five year time-frame seemed realistic. Unfortunately, with each passing year and each unexpected repair, the time-frame never changed– the addition was always about 5 years away. But now, with each passing year, I realize I am also getting older and closer to retirement. I have come to the realization that if we don’t start saving as much money as we can as quickly as possible, our dream will never be realized. And until we do something about the addition, our nest egg is in jeopardy.

Last October, I sat down and started running the numbers. I got a ball-park figure several years ago for the addition, to which I added another 25% to take into account material upgrades and cost increases. I also have a rough idea of how much the garage should cost and having recently had a new concrete driveway poured at my dad’s house, I know what the reasonable cost of that should be as well. The math is simple and now we have a solid plan with a real time-frame, rather than a “someday” pipe dream.

We have contacted our architect/project manager to start the preliminary work on the plans for the addition. Our hope is that we can build the garage first, and then, in four or five years tear down and rebuild the addition. Having a garage will allow me to get my tools out of the basement and out of storage. In fact, freeing up room in the basement might allow us to get everything else out of storage, saving us some money. The garage will not only be home to my workshop (finally!), but it will also give the contractors a place to set up their shop when they are working on the addition. Based on my numbers, the garage and driveway will become a reality next fall (a year and a half from now).

Just one question mark hangs over all of these plans, and that is whether or not we will be able to build the garage where I want. That question will be answered after we meet with the architect this week.

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