Monday, June 21, 2010

Madonna Home Remodel - Home Addition

Today we hear Madonna is adding a gym, playroom, and wine cellar to her NYC townhome for a mere $1.7M. Most people's entire home isn't worth that much, but that is what her "small addition" is going to cost.
Since our budgets aren't that grand, let's think about using just ten percent of her budget, or $17,000. What would you do to your home if someone left a bag of one hundred dollar bills on your front stoop which total $17K? Here's what I would do:

I love my house. I used to have the big colonial with two staircases, five bedrooms, six bathrooms, and lots of lakefront land. But I was miserable. That was BEFORE the divorce. Now I have a cute three bedroom, two bath ranch that is one-third the size, but it is overflowing with joy and happiness. The only drawback is its down-sloping backyard. It is a big backyard, but not practical for entertaining, and I love to entertain. So the first thing I would do is build a huge deck that runs the entire length of my home. I have a small 12 x 12 deck now, but it is totally used up with my stainless steel outdoor kitchen. My deck would eat up half of my budget, or $8500.

My next purchase would be a spa. I have been looking around, and found a nice one online for $3500. I would have to hire an electrician to install the correct GFCI electrical connections, and that would add another $1000.

Everyone knows that good music can really make a party special, so another item on my wish list is an outdoor sound system. I found a great Sony system with extra speakers for another $500.

My last three thousand dollars is for an outdoor sectional sofa to keep my guests comfortable while they linger.

So now that you know how I would spend my $17,000, give yourself some time to figure out what you would do, and share your home addition or home remodel fantasy with us.