So I'm currently contemplating whether to pursue my 3 year old dream to build a home or skip it and plough the money into the second hand home I just bought. To explain, the house has the site attached to it, which I now own, so at least land isn't the issue. There's going to be other moments I'm sure when I wonder if I've made the right choice but now would be a good time to call it a day. The scary thing is not knowing how much this is all going to cost. Prices for materials and labour are going up all the time and until I go out to tender I won't know the real cost of the build.
It's going to take most of my remaining savings, around 12K to get through planning and go out to tender. THAT's the point I'll know the real price. All I have to go on currently is a year old Quantity Surveyors report and several great threads on this site. And for my amusement I've been doodling changes (attached) to the last Architect's design....and like me at Xmas, it's gotten bigger, not crazy big but 89 sq meters increased to 118 sq meters....it's changed from a 2 bed to a 3 bed and has started to really look interesting.
I read a timely quote today: "What Future do I want to create?".
Option A: Spend 12K and see if you get planning and can afford to raise the roof and get this house built.
Option B: Plough the 12K into new windows and external insulation and work on reducing the mortgage, perhaps sell the site with planning but give up the dream.
So, what have I got to lose? I've done the math and figure I can get this done. I'm trying to reduce the mortage and term if at all possible as I'm on a 19 year mortgage currently, I'd prefer less. I'm willing to take on all I can but I'm limited in skills and experience. I'll certainly do painting, MHRV, Security (Alarm, CCTV), Computer Cabling and some of the home automation. I don't want to delay the move in date and completion if I can help it as I'm painfully aware after several DIY projects that they take time and are tiring on top of a full days' work. I greatly admire those to make that sacrifice. I just want to be realistic about where is makes sense for me to do something and when to leave it to the professionals. And finding a trusted builder hopefully....
The next stop date is after receiving the tenders back. So, is 12K a risk too far? I don't thing it's so much about the money as the heart. There's just me. What future do I want to create? Let's wait and see.......