panic Stations with money

rosnacanee

Hi lads am panicking about the money left in the mortgage

Have been approved for 220K for a 2800sqft house

So far have drawn down 100k and have spent it all

So far have put in

foundations house
underfloor insulation 125mm
underfloor heating
concrete first floor
upstairs first fixed for rads
80mm xtratherm in the walls
built the walls
timber and felt on the roof
site purchased for 15k
garage built with roof felted
beam vacuum first fix



Have all the 100k spent but am doin a budget now (which is prob too late) but don't think the rest of the 120k (100k + 120K) is going to get me to the end

Yet to be done
windows 22K (ordered)
Plastering 13K
drywall, plaster sand
insulated slabs 7k incl labour and fixings
plumbing 2nd fix 18K
electrician 10K
kitchen 15k
slates 15k

100k

only 20k left then for sewage, tiles, paint etc

Any advice???

eg6_drift

did you get a grant for the insulation?

Clarelassie

Your 2nd fix plumbing seems a bit on the expensive side. We are paying 14k total for our plumbing including oil boiler for 3200 sq ft house.
Where are you based?

Neonjack

It may not save much, but surely you could paint it yourself?

rosnacanee

no grant for the insulation as its a new build

the plumbing figure includes the solar panels, boiler, rads, fitting of all the whites, pumps etc - plumber was about 2000 dearer than others at the time i got the quotes but he is excellent and well worth the extra few quid but am beginning to regret it now as the money getting tight!!!:(

sas

I don't see any reference to internal timber work i.e. doors skirting architrave, stairs in your figures.

rosnacanee

yeah will definetly be painting it myself!!!! and prob lay the tiles aswell
never thought of the stairs - is that bout 10k - alot to be said for budgeting

mickdw

This idea of writing down a big figure for the major items is not even worth while imo.
You will find that you will end up paying 2 to 3k per month to the hardware store, all for valid items but still items that you would not have even dreamed of. Ive seen this many times on self builds. As you get to the finishes stage, this will get even worse

Neonjack

If you could do the slabbing yourself, it'd knock a few quid off the plastering bill too.

gman2k

rosnacanee wrote: »

windows 22K (ordered)
Plastering 13K
drywall, plaster sand
insulated slabs 7k incl labour and fixings
plumbing 2nd fix 18K
electrician 10K
kitchen 15k
slates 15k


Any advice???

Without being flippant, you need to cut your cloth to measure and get serious about this.
You have no allowance made for carpentry, tiling and decoration.
All your items above are way over the odds and smacks of someone who has not done any homework re costings.
EG your kitchen - why on earth are you spending 15k on it? Does this include white goods - in your case I doubt it.
Why are your windows 22k? Have you shopped around, sent drawings to 10 different companies North and South?
10k for elec? What are you installing?
15k for slates? You need to get cheaper slates and possibly a new roofer.
Better for you right now to call in your plumber, sparks and roofer and get them to redo their pricing and look at immediate cost saving measures.
I don't mean to be hard on you, but you need to be hard on yourself and your contractors and suppliers.
If you have a partner, you need to talk to this person about realistic expectations re finishes and cost of same.
I presume that getting additional finance is out of the question. (In any regard, make this your final port of call.
I'd advise you to employ a professional contract manager for even one day to discuss all the items needed to complete the build and how to price for them accurately.

muffler

gman2k wrote: »

Without being flippant, you need to cut your cloth to measure and get serious about this.
You have no allowance made for carpentry, tiling and decoration.
All your items above are way over the odds and smacks of someone who has not done any homework re costings.
EG your kitchen - why on earth are you spending 15k on it? Does this include white goods - in your case I doubt it.
Why are your windows 22k? Have you shopped around, sent drawings to 10 different companies North and South?
10k for elec? What are you installing?
15k for slates? You need to get cheaper slates and possibly a new roofer.
Better for you right now to call in your plumber, sparks and roofer and get them to redo their pricing and look at immediate cost saving measures.
I don't mean to be hard on you, but you need to be hard on yourself and your contractors and suppliers.
If you have a partner, you need to talk to this person about realistic expectations re finishes and cost of same.
I presume that getting additional finance is out of the question. (In any regard, make this your final port of call.
I'd advise you to employ a professional contract manager for even one day to discuss all the items needed to complete the build and how to price for them accurately.

+1.

Now's the time to sort it.

cosatron

muffler wrote: »

+1.

Now's the time to sort it.

+2. Just first fixing my own house and prices i got were hugely different, e.g plastering ranged from 10k to 4.5k, i got a sparky to wire the house for 3 to 4k, its a pretty basic layout but it will do for time being. slates have to go unfortunately, i built a house for a client and we wanted natural slate at the outset but it was to expensive so we went with a manmade slate a savings of 8k. The biggest thing that hurt my budget was, the trips to tha hardware for this that and the other and so budget for that. and finally, keep the woman at bay for as long a possible. Don't start spending money furnishing until your ready for them, i had another client, whos partner went nuts buying stuff for the house at plastering stage and they went over budget and she spent crazy money on items that weren't essential.

Smcgie

Sorry this is of no assistance to the op but it maybe to other self builders...

As the old saying goes Failing to prepare, is preparing to fail. I have seen it too many times. Plan plan plan.

Op - best of luck, I hope you manage with the rest of the cash. Don't be afraid to haggle on the current prices.

40701085

Yeah serious adjustments are req'd.

The closer you get to the end of the build the quicker the money bleeds away (or seems to!). Try to buy the absolute minimum of furnishings from mortgage funds - buy additions as you need them from savings later (different if you have kids, etc).

Good luck. There is no reason you can't finish that house for 220k.

ninjaBob

Windows : 12,000 (Included backdoor and 3 allu-clad french doors).
Plastering & Insulation : 17k (including all materials, granted it was a ****e job but I'll chalk that up to the tradesman as I got similar prices from others).

Plumbing : 5700
GeoThermal + Underfloor + Cylinder + Stats : 20k
Water Harvesting + Water Treatment : €3500

Skirting Architraves + Hanging Doors (including all materials) : 10,000 (it's expensive but it's to capture a specific look).

Front Door : €4700 (Again expensive custom front door)

Kitchen 10k includes granite worktop, island, matching dresser and wooden chimney breast feature. If we removed the granite worktop and dresser it would cost €6500, remove the island and it would be €5750, remove the chimney feature and it would be €5000....

Stairs Pine CutString 3 flights (ground to attic, including panelling and some decorative features €6000). Solid Ash was €9000, Solid Oak was €10,000. Red Deal with Walnut Handrail and Steps €8000.

Slates : 5000
Electrics : 12,000 (Very well speced, but initial quote was 6).

Wood Floors : 6500
(90sq meters of laminate, 63sq meters of engineered, including labour and materials)


You need to get yourself a spreadsheet split it in half

Done
ToDo

and then keep a tally on the costs. Mark down every penny you have spent yourself and spent from the mortgage money. If

Mortgage - (Done+Todo) is negative you need to cut back and keep cutting back until you get it under control. I would also recommend over pricing. So when the electrician says it will cost 10,000 put down 12,000 in the ToDo until it's actually signed off on, then put the actual figure in Done. This way you are covering yourself for any over runs and when you get to this stage you will have overruns and it's best to have a few thousand set aside just to cover it.



[Edit]
Not sure if this one is allowed but mods feel free to remove (I have no affiliation and I am sure other suppliers have similar sales on).
B&Q have a 50% sale on, all bathrooms, we kitted out all 3 bathrooms (including a whirlpool and freestanding slipper bath and 2 showers for 2000)