Life really is a balance isn’t it? There’s always good and bad. We found out the problem where the neighbour had, apparently, built on our land by 4.5cm isn’t a problem any more and the house can be built as we wanted. I’m still not sure if he is over our the boundary or not, we find that out tomorrow. Of course now we get the go ahead we also get the bad news. The tender document arrived last night and the projected cost is 10% above what we expected thanks to site issues (primarily rock removal, levelling and deeper foundations).
Arrrgghhhh!
So we are faced with the question – can we afford to build now? At the same time, given the crazy prices in the property market, can we afford not to?
We budgetted for 10% ‘over’ in our recent renovation and we did, indeed, need it. Apparently it’s a good ‘rule of thumb’ to budget for an extra 10% in property matters as there are so many variables/unknowns.
Morning Miss Marita, this extra consumes the extra we had budgeted for – a problem now is we need to add an extra 10% for ‘extras’. I think I may go and have a little cry now.
Tents for everybody!
Bummer.
Hi T. This sucks. There is a whole industry out there that prospers from the ‘grey’ areas. We lost out entire landscaping budget ($15K) due to extra slab and excavation costs. They told us to budget $5K, it was $20K. How do they get away with it? We borrowed more to get it done but it still gets me mad just thinking about it.