Self build- completing downstairs with mortgage upstairs at later stage much saving?

Dots11

Hi

We are in the process of getting quotes from builders for our house. We have a site as my dad is a farmer & gave us the site. We are looking to get mortgage for €200000 with the intention of just using €150000 to build. My other half wants to just complete and live downstairs for the 1st number of years and just complete 1st fix upstairs. No stairs and board up the upstairs for a number of years until have saved to complete it. I personally would like to have my stairs and just complete our bedroom with ensuite upstairs and leave the painting etc and furnishing in the other rooms unfinished. Have very conflicting views about this just wondering would we be really saving a whole lot of money by not finishing upstairs? Do many people do these- just live in the downstairs section?

mfceiling

My friend did this years ago.

He knew the builder well who was building the development and got a fairly good discount for the builder to slab up the ceilings downstairs and leave upstairs as a bare shell.

He's a time served carpenter and about 4 years after moving in myself and him floored the upstairs, built the partitions, got 2 of his mates to wire it and plumb it and then we left it at that.

About another year passed and he then skimmed it, painted it and second fixed it - bathroom suites in and wardrobes.

Another year passed and he put in his proper stairs and tidied up the landing.

All this was before he had kids and he tipped away at it from savings he had.

Mightn't be practical for some people and his missus has the patience of a saint.

Dots11

Personally I would like upstairs done as in just our bedroom & ensuite leave the main bathroom and other rooms for again. I know you might save but really would you save a whole lot by leaving it? My oh is handy but doesn't have a trade so would still be hiring someone to do all the plumbing electrics etc.

BryanF

Make sure you finish the complete external fabric to the highest standard. can you give more info? Like what is the house area, BER, type, Etc. just to continue the broken record on boards: you need professional advise from arch & Qs, I say this from experience not seeking your business.

woodoo

Put the stairs in they aren't as expensive as you think.

Dots11

2500 sq ft.. 1 and a half storey. Possibly looking at a timber frame house with heat pump system.

Dots11

I would like to do our bedroom & ensuite/walk in warerobe don't care about the rest of the rooms upstairs. But other half saying to do the floor,doors, skirting boards etc and radiators will all add up & we better off saving the money for them and not using mortgage. I'm just wondering would we be saving really a whole lot by doing it that way. I am not very knowledgeable about building but I would be under the impression that you would get a better deal if you have the same plumber, electrician doing it all rather than finding someone to quote the upstairs a yr to two down the line.

cast_iron

Dots11 wrote: »

...I would be under the impression that you would get a better deal if you have the same plumber, electrician doing it all rather than finding someone to quote the upstairs a yr to two down the line.

Well it's not possible for one contractor to sign off on the work of another contractor (certainly for electrics). It would be much harder to wire/plumb half a house and leave the rest for another time. For the sake of a few sockets, lights, radiators and bathroom equipment, it is probably not worth it.
Unless you are good friends with all the contractors involved, not may many of them will want to get involved in that sort of setup.

Dots11

Thanks for that. That's what I was thinking but my other half thought otherwise. I want to do a bit of homework myself & put my case across no not friends with contractors. Is there a huge difference going contractor as opposed to direct labour?

fealeranger

This is a good idea but you really do need patience and this is why I decided not to do it. Of course you will save money if you do this, save some money and then do some more you are avoiding interest on borrowed money. Same story as always the money will go into the finishing.

Scartbeg

I can forsee problems persuading your lender that this is a reasonable risk for them. We had to jump through hoops at each drawdown to show that building works were progressing satisfactorily, with a bank appointed valuer inspecting before final drawdown. I guess if the estimated sale value of the unfinished house is considerably higher than the loan then you could persuade them...

hexosan

I know a guy who done this, he fully finished the downstairs of the house and just 1st fixed the upstairs. Put in a temp stairs and then left if for over a year to let the finances recover. Now he's started back finishing one room at a time.
If it was me I'd spend as much as you can on insulation and airtightness, you can worry about the interior finishes and furniture down the line.

lowkeys

We considered leaving upstairs too but on reflection i wanted to get the plumbing and electrics completed in one hit rather than the possibility of different guys doing the work.

Also when your walls are plastered with sand and cement and then skimmed you are introducing a lot of moisture and mess into the house which may create problems if your downstairs rooms especially the hallway is finished.

We did the plumbing, electrics and plastering. Things like doors, skirting, furnishing and decorating are still ongoing more than a year later.

muffler

I think you will encounter problems at the final draw down stage of your mortgage. Not only will your architect/engineer/technician have to certify that the house is completed the surveyor appointed by the lender will also visit and take photos and submit his report which will be independent from anyone elses.