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Losh's house build 5 years in the making

Discussion in 'The Pub' started by losh1971, Dec 5, 2017.

  1. losh1971

    losh1971 Well-Known Member

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    The new vinyl wrap is a lot better than the old gear. Main thing is to keep it away from direct heat or it can lift on the edges. My whole kitchen is vinyl wrap.
     
  2. losh1971

    losh1971 Well-Known Member

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    Yeah I'm not keen on a CC. Had them before and will be reluctant to get one again. On the upside we have enough combined income to ensure the balance would be paid off each month. In the unlikely event I do get a CC it would only be a $2k limit. I can borrow another $3k but the fees are going to be $500 for a small top-up, so really not wanting to do that either.
     
  3. VS 5.0

    VS 5.0 Well-Known Member

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    Interestingly, the wrap near the oven is perfectly fine. It is everywhere else that is peeling.
     
  4. losh1971

    losh1971 Well-Known Member

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    Bizzare indeed, because the wrap on our rental that the wife has lived in for 6 years is perfect. But the one spot it is lifted is next to the oven. It's had direct heat on it at some point, because the wrap has melted. My first house had the old wrap and you can tell the difference in quality compared to the gear I have on my kitchen now.
     
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  5. losh1971

    losh1971 Well-Known Member

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    So as I do, because I like to be financially literate, I have sat down this arvo and done some working out on what the cost would be to borrow extra money. The most expensive option is top-up the mortgage. Based on borrowing an extra $1000 over two years the loan top up would be $160 over two years plus a once off $300 loan fee. If I went with that option I would be mad not to borrow $3k. Even then $300 in fees to borrow a small amount is my least preferred option. Plus if I top-up I need to extend my building permit, costing $200, which the bank will want to see the extension as it run out last year, council just hasn't sent me a letter yet. If I finish the build before I get the letter then I can just arrange for the final sign off.
    Next option is a $1000 overdraft which would cost $336 in interest and that includes the monthly fee of $6, over two years. The cheapest option is a $2k CC. Providing the balance is paid off within 55 days we would pay no interest and just a fee of $136 over two years.
    Now my trade account I can book up on the first of the month and then not have to pay the balance until the end of the following month, which is almost two months interest free. Then if I want to save a tad more interest I can leave the account to get 29 days overdue without them placing a suspension on the account.
    Now I can pretty confidently say that my bank will approve a $1k overdraft within a week of applying, even on my low income. That would mean I could theoretically order my goods next week and not have to pay for them for another 10 weeks. Thus I could apply for an overdraft in 8 weeks ready to pay off my goods. My builder would be three weeks out from getting him in for a day and I reckon with what I have in redraw and can save between now and then I should be able to have the $500 needed to get him out for the day. If I did the latter I could get my house signed off as soon as mid May and hopefully I wouldn't receive the bill to extend my building permit in that time. Council in the past have taken 12 months or more to send out extension letters.
     
  6. losh1971

    losh1971 Well-Known Member

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    So I have chatted to the wife and have decided we will either get a CC or overdraft to finish the build. First preference I think will be a $2k CC with a back up option being the slightly more expensive overdraft. I now have the job of keeping an eye out for deals on a rewards CC for the wife to get. I have just asked my trade rep to email me an order for laserlite, ridge capping and flashings. I need to measure the hip on the veranda before I confirm the order as I might be able to get away with x1 3m length and not two. The screws and tape I can get cheaper elsewhere so I will grab them sometime in the next few weeks once I confirm a date with the builder.
     
  7. afstruct

    afstruct Well-Known Member

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    It's a tuff call , house one step closer to being finished ( and that creates a great feeling/ balance in life) , but what is life without your hobbies / pastimes .
    I think I know what you mean, I hate owing money.
    Take a time out ,discusses with other half , taking a bit of time to decide which way to go will at least make it seem more palatable when you look back on it .
    Lol green laminate bench tops ,I remember them, what were they thinking?
    I want to open my 2 back rooms into 1 , can't believe as an extension they didn't get a roof done that wasn't load bearing in the middle ( would have been so much more simple and affordable).
    But I know next issue room will be kitchen , when I need a new cooktop or oven will equall total kitchen reno.
    At least bathrooms are good ( previous owner was also builder , was a plumber) biggest issue is style, eventually, but quality can't be faulted and floor to ceilings tyling.
     
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  8. losh1971

    losh1971 Well-Known Member

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    It is a tuff call but then again it would mean having a finished house with only 1-2k extra debt. At the moment i have a house that cannot be sold or borrowed against because it is not finished. I hate owing the banks money but its either finish the house or don't. If i sell the DT id only get 600 bucks hence why I want to sell it and use the funds to upgrade the heads on my other bike and get it dynoed. I certainly don't want to be a slave to the bank but on the upside if i sold the house once it is finished i would walk away with 150-160k once i pay off the debt. Which is not bad considering i started with a mere 30k just 5 years ago. Its a nice house but im considering selling at the end of the year if i can find a block closer to work where where I catch the bus and not wear out my vehicle. My house is 90km away from work if i drive 30km of dirt and the road is terrible and wrecks your car. Going the hiway its 150km and 45mins more travel. Where as staying in the wifes rental its a 30min bus ride and no paying for parking. I love the house but the there are things i will do differently next time i build or buy and reno. I realised that my 7.5 x 7.5 shed is too small. I really want 9 x 9 with 3.6 walls so i can install a hoist. I'm kinda at the stage now where I want to get it totally finished so i can decide on whether to sell or keep it as a holiday home. I also am losing my attachment to it. I worked so so hard over the last five years and was attached to the house because of the work i did over the years. Financially i need to get the house finished and be prepared to sell soon after. Because I can cash in and potentially buy another home close to town which I could reno and turn a profit. With the end result being able to buy or build something nice with a small mortgage. I was talking to a builder in our church who builds and sells all the time and his advice was to not get attached as its just a house.
     
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  9. greenacc

    greenacc Searching for the billion

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    Now your starting to make sense Losh. Be a shame to sell the house you built but if it gets you on your way to a place which will suit your needs long term then it all sounds worthwhile!
     
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  10. afstruct

    afstruct Well-Known Member

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    Sounds like the big picture is finish house and move on , that outlook does look great ,though.
    Not getting attached is a purely a financial view , easier said than done when you build or renovate and you obviously put a reasonable amount of yourself into it.
    At the end of the day remember a house is a house, a home is somewhere you've created a life and memories
     
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  11. Deuce

    Deuce Super Stock

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    I love driving, but hate commuting.
    Taking the bike is ok, as i skip traffic. But still.

    At the end of the day, it is just a house. A bloody nice one with a good view. But it you have built it once, you could build it again (view dependent of course). I hate moving, so i would likely keep it, but it's your finances you need to work out what is the best result long term. 150k in the clear must be tempting.
     
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  12. losh1971

    losh1971 Well-Known Member

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    Got some more of the deck done today. Have about another day of work to finish it. Decided that it needed a face to cover the end grain of the joists. Run out of screws by a mile so need to come back out next weekend with a box of 250. Can't work out why I miscalculated by over 150 screws. 20180415_122357_resized.jpg
     
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  13. VS_Pete

    VS_Pete Donating Member

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    Looking good.
    PS. old age on the count:p
     
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  14. Lex

    Lex Well-Known Member

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    Looks good!
     
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  15. losh1971

    losh1971 Well-Known Member

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    Finally finished the deck last night. Finishing off the paint for the veranda where it needed touching up. Once i finish that I will be right to get the veranda roof on. 20180428_111654_resized.jpg
     
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  16. losh1971

    losh1971 Well-Known Member

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    Spent an hour working out the measurements for my linen press doors, trim panels and bulkhead today. Door width and height is easy as. The tricky part is getting the centre measurements correct for each of the five hinges on each door. You have to be accurate to within 2mm or the doors won't fit to the existing carcass' predrilled holes. And if one hinge is out it throws everything out especially with five per side. Decided to reduce the cost and get white MDF board. It still looks good but is 1/4 the price of vinyl wrap, which are around 180 bucks each. Because it is in the laundry I don't think I need to be as fussy as I do with the pantry doors which are seen every time you walk in the back door, which is pretty much every time you enter the house.
     
    Last edited: May 9, 2018
  17. greenacc

    greenacc Searching for the billion

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    White melamine or white mdf?
    Vinyl wrap in the laundry would be a waste.
    I used white melamine with white edging in my laundry about 5 years ago and it's fine. 5 hinges per door is a lot!
     
  18. losh1971

    losh1971 Well-Known Member

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    It's a gloss warm white MDF. Looks a bit nicer than melamine. Doors are 2400 x 460 so carry a fair amount of weight. Could have got away with four hinges but five is only $15 more all up, including getting the extra holes drilled.
     
  19. VS 5.0

    VS 5.0 Well-Known Member

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    We had new cabinets fitted in our laundry yesterday. The one tall cabinet has a 2280 x 400 door with four hinges.

    We're also having some work done in the kitchen. The old pantry door was 2150 x 580. It also had four hinges but they were much bigger than the usual ones.

    So five standard size or four large would be right for yours.
     
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  20. losh1971

    losh1971 Well-Known Member

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    So my bro in laws mate is no longer allowed to use the kitchen fab workshop to do his jobs on the side. Was hoping i could have had my doors and panels cut and drilled for a bottle of CCs or a 10 pack of CC and dry. Looks like i have to pay full price to get the panels made. No idea what it will cost but I'm doubtful i will have much change out of a 150 bucks.
     

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