Interesting developments in the last week. While trying to figure out a way forward for my build as cheaply as possible I discovered a company that does SIPs and has just finished a slight larger house for a LOT less than the tender prices that shut me down last year (€375k). So my job this month is to crunch the numbers again, get a more formal quote from them and see if this is a runner.
As always there are three factors I've to balance:
Architects fees - the crowd I used before are brilliant but very expensive. I've a different Architect doing an analysis to see what he would charge to take over. Also the builder has their own Architect I'll approach to see if I can use them instead.
Kit Home - There are two companies who work together and seem to deliver you a turnkey house - just move in the furniture. I'm a bit dubious how they do this for such a good price so will visit one of their builds if possible. I know they use PVC for windows and soffit/fascia so will see what spec of ASHP and MVHR they use and if these are of the cheaper variety or not once they return a spec I can look at.
Bank - ah, the bank! Build cost + Arch fees + 10% contingency - I'll get funded max 80% (as a second time buyer) of this or 80% of the projected value of the finished house, whichever is less. I can see some creative accounting coming on here...! Plus my old house has to sell for enough to get me the equity I need - this is attached to the site (side garden) so need to sell before I draw down new mortgage.
The builder uses SIPs, nothing against them, should work fine. I've a budget of €260K and their initial guesstimate was €275K so not far off. A more accurate quote is on the way and I'll see how much this goes up (!).
Like the build triangle (quality, price, speed / good-quick-cheap) I've three legs that need to all function to get this over the line:
- Valuation of finished house based on location, spec and current market value - house prices are holding / still going up slightly so ok there so far. I need a good valuation though, got €350K last year but hope for detached I'll get a little more.
- Builders price for 2021 build - I'll have to pick apart the spec a bit and see what I can live with and what I might have to change but if I can get a decent fabric it might just work. The things I'd like to do might not be possible as this is right on my budget but at least it's a hands off build for the money, so I won't be working double jobs trying to do as much myself as possible.
- Architect - haven't found one willing to work with me yet, two turned me down, one is thinking about it and the original Architects are bloody expensive. Will see how this goes....I could pay them out of pocket but if their costs go into the costings submitted to the bank I have to prove I can afford them up front, probably looking at 20K just for them with all the reg required in ROI now. Anyway, should know more in a week but will line up other options in the meantime in case.
Wish this post was about the build already but if this happens it's going to happen quick and I'm certain this is the best shot I'll get at it for a good while. One day I'll be sticking photos of the build up there and updating everyone as each stage goes up.