Ok small update,
We got the tenders back last week. I have not been able to go through them in detail yet however we have a problem.
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The most pressing problem is that the local building regulations officer is putting lots and lots of hurdles in my way. Which has resulted in me having to do a lot of extra work, including lifting all 6400 sq ft of floorboards and painting all the I-beams with fireproof paint and then relaying the floor again. I also have to install a sprinkler system in the whole house. Putting in automated roof windows that open in the event of a fire
My original renovation budget was XXXk and the tenders have come back at 200k over budget. I obviously do not have this so I have come up with the following plan.
1 I am going to have to chop out a few details and arrange for some cheap labourers to do some of the more tedious work (such as painting the I Beams) I am hoping this will get the build cost down by upto 100k.
2 I have arranged an extra 75k from the bank
3 My parents are going to help us with 25k towards the kitchen
4 my wife’s parents are also to help us with 25k
5 I am selling one of my cars which will give me another 20k
I have lost around 27k on the stock market in the last few months (paper loss) but that means that some of the cash is stuck for what may be some time.
Also I have temporarily financed the purchase of another property at auction so I will not be able to do a lot of the work until some of that money has been freed up which will take upto 12 weeks.
So things should start moving when the bank give me the money and the auction propery is sold.
I will post updates when we have them.