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And then there was none.


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Some of you will remember roughly 2 years ago my "and then there was one" post. That was the point we realised our old house was not going to sell any time soon leaving us short of funds. At that point we laid off the builder (amicably) and since then it has been me and SWMBO working on the house so there are no (or minimal) labour costs.

 

Well now, we have reached the inevitable conclusion to that. The pot is empty. Seriously empty. It could not be more empty.

 

The sad reality is now we cannot afford even to buy materials to continue the build.

 

So how far did we get?  Probably a lot further than I honestly thought we would, but that does not ease the pain.  We have a house largely finished externally. Fully insulated and air tight. Upstairs has been plasterboarded and plastered and we have a staircase. Upstairs is also mostly wired.

 

There is no plumbing, apart from a toilet downstairs and temporary plumbing for a washing machine. No hot water system and no heating installed. Downstairs remains a bare shell with just the air tight membrane on the walls and the sub floor OSB flooring.

 

All I can do now is work, for others, and earn money. We need that to pay the bills.  We are resigned to a cold winter in the caravan, with no prospect of even partially moving onto the house for the foreseeable.

 

I won't post too many personal details. We had expected hoped for a little windfall that we thought was coming our way. We now don't know when, or indeed if that will actually happen. If not, the only source of funds is to cash in a small pension I have from a previous employment, but I have another 4 months to wait before I attain the age that allows me to do that. 

 

Unless the windfall does happen, it is going to be a very long, cold and frustrating winter.

 

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Our old house is currently let to a tenant who says they want to buy it in 2 years. That does not help the immediate situation. I can't wait 2 years for the house to sell before continuing the build, hence the cashing in a pension.  We will give them the 2 years but if they then don't buy it, the tenancy will be terminated and the house back on the market.

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Not a nice situation to be in.

From all the advice you've given me and others you're obviously a very clued up sparky so I hope you can find plenty of work and see this through to the end.

Use the enforced delays to hunt for bargains- plenty good stuff out there on eBay and Gumtree.

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Sorry to hear that, Dave.

 

Don't know whether it is something you'd consider but could you earn more (than in Scotland) by doing "projects" here in the South East or in London? Come for 3-4-5 days, live in a B&B, do what you are good at. Just a thought. 

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Thanks for all the kind words. Buildhub is more than a place to talk about insulation, I have some good friends here.

 

There is always plenty of work at this time of year so that's not a problem, and I have at least 2 big jobs lined up for after the Christmas rush and into the new year.  But no I have no wish to go and work away from home.

 

What hurts for me is being in this position for reasons outside my control. I have a deep sense of anger at the situation, which is not a healthy emotion to be harbouring, but there is sod all I can do to stop that anger.

 

If it wasn't so damned wet I could go and shovel barrow loads of soil and complete the landscaping of the garden across the burn, at least that won't cost anything, but have I mentioned that we haven't had a day without rain (or snow) for weeks and the ground is just sodden.

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Bugger! Can't say much other than say hang in there. You WILL get there. I guess on the plus side it's not like you're having to sell or anything. It's just a waiting game albeit a very frustrating one. Feel for you!

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Just a thought, Dave, but if your tenants have said they wish to buy the old house in 2 years time, would they be prepared to pay a bit extra each month (₤x) on the agreement that you deduct ₤x (x24) + 10% from the agreed sale price 2 years hence? It might not make a big difference but it could help pay for some more materials to keep the build ticking over and would give you certainty about their intent.

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I suspect that we're not long behind you, Dave. I'm not relishing looking at Debbie in the eye on the day we have to move out. 

 

The worst of it is you (we) can't get off this particular train. We started on the basis of what, at the time, were a sensible set of assumptions. And fundamentals on which those assumptions were made changed.

 

Its that same change process which offers hope for the future.  It wouldn't take much of a change to make the outlook a good deal more positive. And then there's luck. I dunno about you, but I still feel very lucky to be able to have started a build. Maybe a little more is not too much to hope for. Its not as if we are trying to build an empire.

 

Not to have started would have been forever to regret not trying. To live diminished by demonstrable  lack of guts. And that's not for us.

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2 hours ago, recoveringacademic said:

 

The worst of it is you (we) can't get off this particular train. We started on the basis of what, at the time, were a sensible set of assumptions. And fundamentals on which those assumptions were made changed.

 

Not to have started would have been forever to regret not trying.

I think that probably applies to a lot of self builders. It's a real rollercoaster, but you just have to keep going. Hope things work out okay for you @ProDave.

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Sorry to hear that Dave. 

Just a thought-do you have any sparky mates your way who do Rail work?

I did some a couple of years back when money was dead tight. 2-3 nights a week gave me a boost in income & I was still just about able to carry on with my day job. Exhausting,but if it freed up your days to carry on,albeit a lot more slowly,might be worth doing the PTS course. I'd say from experience,only worth it if you have or can make some contacts in Rail. It's a fair outlay at first (around £400) to do the medical & the course. 

Good luck. 

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Dave. I'd snap my right arm off to be able to build my own home, so chin up mate. 

The glass is always half full so be glad your not employed by someone for one ( with the sword of Damocles swinging over your head ) and not unsure if your job and income was safe. 

If you have to have the turkey in the 'van then embrace it and enjoy it, the build isn't going anywhere. 

Just go on and listen to the horror stories of self builders shafted for all their money and left with nothing, life savings in tatters and non-mortgageable home etc, and youll soon realise your position is actually quite enviable.

Your build is on a ratchet, it can only move up a notch every time you do a bit more, and you've saved a ? load of money already by being a tradesman, so by your own admission are further ahead than you thought you'd be which is a huge positive ;)

If you have to drip feed it then at least it's still getting fed, so stay positive and keep your spirits up. It's the wrong time of the year to be gloomy ?  

 

What assurances do you have of the tenants buying after the 2 year period ? If it's zero and based on a handshake then put the house back on the market as if they don't buy you'll be kicking yourself. Being nice is one thing, but if their serious when they see the for sale sign in the garden they'll make good on the promise and chuck some money on the table as a deposit. Get them a contract that says it's non-returnable and tell them to piss or get off the pot. £10k sounds like an achievable amount and if their as serious as they suggest won't cause any problems. There's too much riding on faith otherwise :/  

Chin up :) 

 

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13 minutes ago, Nickfromwales said:

Dave. I'd snap my right arm off to be able to build my own home, so chin up mate. 

The glass is always half full so be glad your not employed by someone for one ( with the sword of Damocles swinging over your head ) and not unsure if your job and income was safe. 

If you have to have the turkey in the 'van then embrace it and enjoy it, the build isn't going anywhere. 

Just go on and listen to the horror stories of self builders shafted for all their money and left with nothing, life savings in tatters and non-mortgageable home etc, and youll soon realise your position is actually quite enviable.

Your build is on a ratchet, it can only move up a notch every time you do a bit more, and you've saved a ? load of money already by being a tradesman, so by your own admission are further ahead than you thought you'd be which is a huge positive ;)

If you have to drip feed it then at least it's still getting fed, so stay positive and keep your spirits up. It's the wrong time of the year to be gloomy ?  

 

What assurances do you have of the tenants buying after the 2 year period ? If it's zero and based on a handshake then put the house back on the market as if they don't buy you'll be kicking yourself. Being nice is one thing, but if their serious when they see the for sale sign in the garden they'll make good on the promise and chuck some money on the table as a deposit. Get them a contract that says it's non-returnable and tell them to piss or get off the pot. £10k sounds like an achievable amount and if their as serious as they suggest won't cause any problems. There's too much riding on faith otherwise :/  

Chin up :) 

 

 

Liked apart from the bit about tenants. If Dave wants to sell then sell but that ain’t working so he likes having the tenant’s rent coming in. If Dave wants to rent it out then rent it out but don’t blame the tenants for whatever comes down the line. 

 

The landlord is supposed to be the professional here.

 

(the only landlord I like is served in pints and is brewed by Tim Taylor)

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11 minutes ago, Nickfromwales said:

@daiking

Agree in part but would you be so tentative to their situation if after 2 years they said "sorry, it's not for us" ?

Some security wouldn't be asking the world, and I'm not blaming them for the situation, just right now it's seems win-win for them and fingers crossed for Dave. ;)

 

You would be a fool to give any credence to their offer at this stage. Lots can happen in 2 years. If you’re happy to rent to them for 2 years you should. If not, then don’t. 

 

Don't make a convenient decision for yourself (2 years rent) and frame it as though it’s someone else’s fault that it didn’t turn out as you dreamed it should in 2 years time. That, I’m afraid is the harsh reality.

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