For a significant percentage of first-time homebuyers, merely closing the deal is an economic feat in itself. From the earnest money to the appraisal to the (gasp) closing costs and that unforgettable rite of passage called the first mortgage payment, you're feeling broke at precisely the time when you want to rip open that wallet and spend an absolute fortune on improvements to the home you waited so long to purchase. And here lies the primary frustration of first-time homeownership (and homeownership in general, for that matter): The house consumes a larger chunk of your financial resources, leaving you with little money to make improvements. You're left with the difficult to decision of what projects to tackle first.

You have to create a priority list, which is hardly easy. Should you call someone to paint the walls in your "high-ceilinged" living room, or should you get that wallpaper replaced in the kitchen first? What about replacing that carpet with tile? That's a big job; should you hold off until next year? And if you invest in new tile now, will the inevitable Murphy's Law of Homeownership cause your air conditioner to break at precisely the time when the tile has been completed, forcing you to come up with the money required to replace your air conditioning unit? (You realize, of course, that air conditioning units strategically calculate the hottest time of year to break down.)

A veteran homeowner (and home improver) recently handed me a piece of advice that I've chosen to take to heart -- and not just because I think he's a smart guy. Actually, I'm going to follow his guidance because I have no choice. I'm going to walk from room to room in my new house and make a list of improvements I want to make ... not necessary this minute, but someday. Perhaps someday years from now, but someday. Call it your wish list. As you walk from room to room, writing with reckless abandon, you'll suddenly forget your financial constraints. You'll have fun, as if you were going to call every contractor in town today and tell them to come on over. But this exercise is more than just imaginary shopping. It's intended to help you decide what you're going to do first, and then place the other improvements on your wish list on the back burner, albeit temporarily. You'll just knock them off one by one as your budget allows.

Everyone's list will be different because our priorities are different. For those who love to entertain in the kitchen, perhaps appliance upgrades and new tile will be on the top of your list. For others, perhaps it's built-in bookshelves, plantation shutters, new carpet, new plumbing fixtures in the bathrooms, or another enhancement.

And for most of us, the task of prioritizing what to do first in our homes leaves us perplexed. If you can't seem to make up your mind about which projects to tackle first, do you have any resources (short of the services of a designer, which, if you're a first-time buyer, odds are you can't afford immediately upon move-in) to help you?

The answer is yes. First of all, consider asking your Realtor for guidance. Many Realtors, especially the ones who bring years of experience to the table, are savvy to know which home improvements you'll want to take on initially in your home. If you purchased an older home that will need quite a few updates over time, your Realtor most likely suggested the property because it had potential and a well-designed floor plan. Throughout that process, he or she probably pointed out the spots in your home you should eventually consider refurbishing. Your Realtor, of course, has an eye for the enhancements that will not only boost the visual appeal of your home, but also add to its value. If you purchased your home without the aid of a Realtor, you can "cold call" a Realtor in your area and ask for guidance, which may come with a fee. Or ask a friend, colleague or family member who has used the services of a Realtor for a recommendation.

Everyone has noticed a modest yet immaculate home in which the owner takes great pride -- brightly colored flowers, a neatly trimmed and edged front yard, a large wreath on the front door. Study the outside of your home -- its drive-up appeal. Would planting a few shrubs or varieties of flowers enhance its appearance? Increasing the variety of plantings in front of your home -- for example, leaves of different sizes, textures and colors -- adds to its visual appeal. Planting flowers at the base of your mailbox, a fresh coat of paint on your front door and the addition of one or two planter pedestals near the entrance make the difference between ordinary and inviting.

Heading back indoors, you'd be wise to start with a fresh coat of paint -- one of the most inexpensive, yet impactful home improvements. Sometimes that's all it takes to breathe new life into an otherwise tired interior. Your furniture will suddenly complement its surroundings better than it did before. Other interior projects you might want to plan during your first 6-12 months include the replacement of peeling/faded wallpaper; replacement of outdated kitchen appliances; replacement of grout and missing, chipped or cracked tile in bathrooms; the addition of basic window treatments in all major rooms; and painting of cabinets/cupboards in the kitchen and bathrooms.

If you've never spent much time walking through model homes, attending local home tours or open houses, now is a great time to start. And you'll want to browse any home improvement stores (such as Home Depot Expo or The Great Indoors) in your city. All of these make great resources for aspiring home improvers -- even if those major refurbishments are years down the road because of budgetary constraints. These venues make it possible for you to gather information for your files and take note of what various improvements will cost you.

Once you've created a general list of all enhancements you wish to make in your home -- both now and in the distant future, create a budget for yourself. An annual budget is probably your best bet if your resources are rather limited for the time being. At that point, you can scan your list and categorize the items on your wish list as high priority or optional. Keep your list in a safe place, refer to it occasionally and check off your goals as you achieve them.

In a sense, having to plan your home improvements slowly and deliberately is an advantage. Far too many homeowners with more money and less patience have jumped into major projects with both feet and without much prior planning. They end up regretting their decision and/or wishing they'd gone some other route. So use this time to your advantage, do your homework, create your timeline and look forward to the time when your home improvements are completed, you're thrilled with the results, and you have the satisfaction of knowing you wouldn't have done anything different.

Published: September 13, 2000

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