Not finishing a new build - is it worth it?

Blitzkrieger

I have another of those "How long is a piece of string." questions, sorry.

Do you save much money by not finishing a house? A couple of posters have mentioned saving money by leaving a couple of rooms unfinished, and doing them later on when you have money. Obviously it'd make sense to do some things while you have the builders in, but leave the rest to later. Is it as simple as costing for builders finish on part of the house and turn-key standard on the rest? Is there any major drawbacks or pit-falls in doing this?

In brief, I'd be looking at what is hopefully a site needing minimal works. It's got mains water, gas and sewerage and full planning permission for a 2,000sq 2 storey house. I'd be thinking about leaving the upper floor unfinished and just living downstairs for a while if possible.

muffler

Above post moved to this dedicated thread

muffler

Blitzkrieger wrote: »

I have another of those "How long is a piece of string." questions, sorry.

Do you save much money by not finishing a house? A couple of posters have mentioned saving money by leaving a couple of rooms unfinished, and doing them later on when you have money. Obviously it'd make sense to do some things while you have the builders in, but leave the rest to later. Is it as simple as costing for builders finish on part of the house and turn-key standard on the rest? Is there any major drawbacks or pit-falls in doing this?

In brief, I'd be looking at what is hopefully a site needing minimal works. It's got mains water, gas and sewerage and full planning permission for a 2,000sq 2 storey house. I'd be thinking about leaving the upper floor unfinished and just living downstairs for a while if possible.

How would you work out if you have a mortgage? The lender would insist on the works being fully completed before final drawdown of the money.

dahamsta

Presumably he'd get a mortgage for the relevant, lesser amount.

Looking forward to the housewarming Blitz.

martinn123

Interesting question, in these difficult times, what's the layout of the house, for example if the Bedrooms and bathroom are upstairs, I imagine they would have to be done, or do you have a downstairs Bedroom/s and bathroom.

If the latter, I would look for an opinion, from Arch/Tech to what standard the upstairs would have to be completed, to get a Final Cert.

So obviously the Windows are in, do the Doors, architrave, skirting, need to be done, walls plastered Yes/No.

If the original quotes for a Bank, included total completion then you have no choice, but if own funds in play, how far do you need to complete??

Blitzkrieger

muffler wrote: »

How would you work out if you have a mortgage? The lender would insist on the works being fully completed before final drawdown of the money.

I know of someone who got a house signed off as finished without completing a bathroom and two bedrooms on the upper floor. Anecdotally, I've heard some people are willing to sign off on a house as finished earlier than others.

I was thinking of finishing the rooms in the upper floor as far as skirting boards, plaster, radiators and paint. Probably no furniture and no tiling or anything done in the bathrooms. A downstairs bathroom would have a shower and I was thinking of making one of the downstairs rooms a temporary bedroom.

The more I think about this the less I think I'd be saving a significant amount....

fealeranger

Blitzkrieger wrote: »

I know of someone who got a house signed off as finished without completing a bathroom and two bedrooms on the upper floor. Anecdotally, I've heard some people are willing to sign off on a house as finished earlier than others.

I was thinking of finishing the rooms in the upper floor as far as skirting boards, plaster, radiators and paint. Probably no furniture and no tiling or anything done in the bathrooms. A downstairs bathroom would have a shower and I was thinking of making one of the downstairs rooms a temporary bedroom.

The more I think about this the less I think I'd be saving a significant amount....

Do people still sign off on anything. I would be very surprised if this is still happening. There is too little going on at the moment for this to happen without being noticed IMO.

1chippy

Most finance companies will sign off once the building is habitable. ie kitchen, bathroom and bedroom. tiling and painting are not needed to be signed off. A lot of people are not skimming upstairs and a lot would have no stairs fitted and still get signed off. The only real issue with leaving it till after is the mess and hassle having trades back in through the house after you have moved in. you would be surprised the dust that will build up. ok with some people but reguarly you will get an awkward one and if you see this coming you have to price for cleaning and hoovering for a couple of hours every day.

muffler

1chippy wrote: »

Most finance companies will sign off once the building is habitable.

We are not really talking about finance companies here but rather architects, technicians engineers etc.

1chippy wrote: »

A lot of people are not skimming upstairs and a lot would have no stairs fitted and still get signed off.

I wont deny that it hasnt happened (by others) but I have never signed off on anything remotely resembling that situation nor would I ever.

1chippy wrote: »

The only real issue with leaving it till after is the mess and hassle having trades back in through the house after you have moved in. you would be surprised the dust that will build up. ok with some people but reguarly you will get an awkward one and if you see this coming you have to price for cleaning and hoovering for a couple of hours every day.

Good points