Tuesday, 27 January 2015

Budget update

One thing I haven't really mentioned in this whole process is the cost.

We went into this extension without a real idea of what it would actually cost. The banks wouldn't lend us any money because we were owner builders. And any other rough guides to pricing were based on builders quotes which obviously would be a lot more than doing it ourselves.

So last night I sat down and updated our spreadsheet with all our receipts. I hadn't done this for about 6 months so it took a while. I am sure some receipts have got lost along the way and I may have missed a few other things I'm sure. However the running cost to date is about $67,500. We are at lockup now so I think we are both pleased about the amount it has cost us. We still have about another $40-60,000 of work to do including the fittings. So, we'd love to come out of this under $120,000.

Then we can just take our time saving for new furniture after all the hard work is done. Then I suppose we will re-landscape the backyard and save for that spa that Dave wants so badly.

It will be interesting to get the house valued at the end of it all also.


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