Consumer Debt #2 Balance: $0 –> $6,493 Paid Off!

Balance May 2009: $6,493.00

Paid Off August 2009!

***Post written  May 30, 2009***

Debt #2 stems from two home improvements that we put on a credit card over a year ago, about six months after we moved into our current home.

The first home improvement was new granite counter tops in our kitchen and our two full baths. The total cost was $5,415.00. We paid $540.00 in cash and put the remaining $4,875.00 on a credit card offering 0% APR for 12 months.

The second home improvement was for new windows. The total cost for all nineteen of them was $6,100.00. We paid $2,965.60 in cash and put the remaining $3,134.40 on the same credit card with the counter tops and the 0% APR.

When the original 12-month offer at 0% ran out, I transferred the balance to another card offering 0% APR for 12 months. We’re about four months into that offer.

Obviously we are very fortunate to be able to put this debt on a credit card where we pay no interest.

“New windows! New counter tops! Buy now same as cash!”

Sounds like a great deal, doesn’t it? Thing is, if I had to do it all over again, I’m not sure if I could. Since we are only living here in Ohio for four years at the most, the reasoning was that, if we needed to get new windows (which we did need) and new counter tops to help sell the house when the time came, then by golly I want to get them now when I can enjoy them.

The market has only worsened since we bought this house back in September 2007. I haven’t gotten so obsessive as to sweat over the comparatives, but I reckon we haven’t made near the equity to justify what we’ve put into it; I daresay we’re in the hole when all is said and done. For us, with our transient lifestyle, we’ll be happy if we simply break even.

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