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The Financial Diet

The Society Newsletter No. 15: My Home Library | What I Spent, And What I Learned


June 27, 2024

Hello and welcome to The Society Newsletter!

Every week we're publishing this newsletter exclusively for you all at The Society Premium level where Chelsea shares her personal thoughts on a different topic, as well as her latest Flea Market Finds.

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❤️ TFD

It's no secret to anyone who reads this newsletter or who follows me on social media that I love home decor. I have no formal training, and for most of my life, I had a relatively meager budget to decorate, but it has always been a huge source of creative joy. For me, decorating is as much about the planning, moodboarding, and imagining as it is about the actual execution, and its (typically) longer timeline means drawing out the inspiration for months on end, in addition to enjoying the results. Part of the reason I have my weekly flea market roundup in this newsletter is because I adore the process of searching, hunting, and imagining, sometimes even more than I enjoy the actual purchasing.

But now that I own my home and, therefore, am doing actual renovations, which are a substantial financial investment and not the kind of thing you can easily change if you don't like it, I've shifted my entire relationship to interior design. In some ways, back when I rented and therefore had a purely... let's say, artistic relationship to the space (i.e., I just did whatever the hell and kissed my security deposit goodbye), my choices were more chaotic. I rarely took my time to scour secondhand for the right piece of furniture, because I didn't even know how long I would be in that particular apartment layout. I painted walls crazy colors — colors I more than once deeply regretted — and much more easily fell victim to algorithmic trends. I had never really taken the time to decide what my own sense of style was because I was living in a way that prioritized constant change over slow growth.

Now, I am much more methodical in my process and essentially only purchase things secondhand (whenever possible). I want to invest in the right pieces, properly plan the right choices, and tune out the noise of social media as much as possible. This is all the more important when I'm doing renovations (the first one of which I did in 2022, with my kitchen makeover), as these are choices I will need to live with for years to come. What happens to be trending on my feeds or what influencers are doing has no bearing on something Future Chelsea needs to ideally love in 2030 — let alone what will most likely have value to potential future buyers. I knew early on in buying this place that the most valuable renovations I could do would be ones that increased the built-in storage and functionality of the space and felt like extensions of the preexisting modifications.

As I've always wanted built-in bookshelves in my home, and we had a relatively underutilized nook in our dining room next to built-in closets a previous owner had installed, it seemed like the perfect opportunity for an investment renovation. I spoke with several real estate experts who explained that this type of installation tends to be the most valuable, as it's very attractive to buyers and has minimal impact on the rest of the space (unlike, say, the scourge of knocking down walls that had a chokehold on our country for over a decade). Given the amount of money we were looking at spending, we felt comfortable that it would likely double our investment at the point of potential sale and greatly increase our enjoyment of the space in the meantime.

As you can see in the photos, almost all of my planning (and moodboarding, and note-taking) happened in my physical home decor journal, partly because staying away from the lure of social media during this time is essential. When you are being deliberate about your space financially, what everyone else is doing — or, in the case of influencers, being paid to do — can be a huge distraction and misdirection in terms of what is valuable. But I worked with a decorator whose work I loved to sketch out my dream home library/bar nook, contracted the (excellent) company who did our kitchen, and finally felt confident in moving forward on a design I knew that I would love for years to come, and that many potential buyers would, too.

In total, we spent just over $9,000 on the project. A little over $6,000 of this was on the actual contracting/building itself, then there was a $1,200 tip to the contractors (the total installation process took two full days in our home), $500 for the lighting, $800 for the panel of wallpaper in the bar area, and $600 for other miscellaneous items and services. I should note here that the wallpaper was by far our most outlandish expense, but I wanted something that perfectly emulated the wallpaper of the iconic Bemelman's bar, and this was by far the best option I found. I can in no way justify that part of the process as an investment — in fact, I think it's likely that certain buyers will immediately take it out or cover it up — but I view it as an investment in my personal joy. It's also for this reason that the glass doors I'd initially sketched out to close up the bar area ended up being nixed. Not only did they add a substantial expense to the space, they also made the wallpaper that much harder to see, therefore detracting from its role as a piece of functional artwork.

I learned a lot throughout this process, and in some ways I feel it was a real turning point in my own personal style. I did a minor makeover on my living room in tandem with this renovation, since we were getting rid of the fairly large bookshelf that had dominated the space prior, and it was by far the most intentional decorating I'd ever done. I took months to properly sketch out the changes and find the right secondhand pieces, and I was diligent about planning out placements and notetaking through every step of the process. In investing thoughtfully in a renovation, I wanted to hold myself to a higher standard in the less consequential choices, too. I wanted to challenge myself to figure out what my personal style really is, outside of the ever-evolving trends I see on my Instagram feed. Ultimately, I'm sure these are changes I would have come to as I got older, even if I had kept renting. But psychologically, knowing that this home is as much for my future self as my current one, it has fast-tracked me into a version of creative expression that feels much more sustainable.

Overall, I could not be happier with how this project turned out, and I'm comfortable with the price we paid to accomplish it. (Not that it really matters, but I paid almost all of it out of my own pocket with my book money, which felt really satisfying!) I encourage you to go forth and invest in your own home projects, but to tune out the noise as much as possible, and figure out what actually makes sense for you, and your creative joy, long-term.

Chelsea's Flea Market Finds

Large-Scale Abstract Expressionist Style Giclée, 21st Century, $3 [LIVE BIDDING]If you're looking for a versatile, large-scale piece for your space but aren't quite ready to invest in a big painting yet, this giclée print is a fantastic middle ground!

George III Hepplewhite Style Painted Armchair, $100 [LIVE BIDDING]
I really love this armchair -- it feels both classic and modern to me, simple and unique. It would look really cool in a lot of spaces!

Four Staffordshire Figural Lamps, $70 [LIVE BIDDING]
One thing about me? I love a figural lamp! They are so fun to me, and can have totally different vibes depending on the type of shade you get for them. This little bundle is great!

John Christoforou Abstract Expressionistic Style Oil Painting of Figure, $24 [LIVE BIDDING]I absolutely adore this painting -- great colors, great size, great composition -- and wish I had room for it in my home because I would buy it!

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