Long story made short
- Bought derelict house with full planning
- Found out after planning was non transferable & we couldn't build
- 10 year battle with local CoCo & got our planning :clap:
- Had plans drawn up and direct built house, myself & DH did as much as we could ourselves....
Unfortunately we had massive over runs (52 loads of stone on site and same amount of blocks underground as over. @ 150 per load, CoCo insisted on raised bed, biocycle septic tank 25,000, same insisted on independant engineer overseeing installation & we had to foot bill 5,000, Local Engineer insisted on 2 40ft long steel H beams in roof so we had to pay for crane & steel 5,000. The list goes on)
We had €15,000 savings for furnishing finishing house. This got eaten up by €80,000 of unexpected bills (mostly down to CoCo insisting on different items, we got 15 attachments to planning).
We tried to get the additional put onto an extension Mortgage but they only approved 30,000 so here is what happened:
€190,000 @ €700 pm (our planned for Mortgage)
€30,000 @ €120 pm (mortage 2 - top up)
€25,000 @ €364 pm (credit union loan)
€15,000 Savings got wiped
€10,000 @330 pm put on credit card (YIKES)
So we are left with an unfinished house (slowly painting etc) but we have a house :clap:
However we are now at €1,514 pm for house instead of €700 & because we are under such monetary pressure we have put an additional €6,000 onto our cc bill bringing it to €16,000. We have never missed a payment on anything but we have nothing extra
I need to stop money leaks fast and build in paying off the cc as well as a few luxuries for our family, I just need to pull my socks up and get on with it but after doing the figures it is going to take years to get us back to our original Mortgage, even just to clear the cc....
I'm kinda cross with myself because I know I should be looking at the positives & mostly I do but today sorting my budget is just making me weary.....
- Bought derelict house with full planning
- Found out after planning was non transferable & we couldn't build
- 10 year battle with local CoCo & got our planning :clap:
- Had plans drawn up and direct built house, myself & DH did as much as we could ourselves....
Unfortunately we had massive over runs (52 loads of stone on site and same amount of blocks underground as over. @ 150 per load, CoCo insisted on raised bed, biocycle septic tank 25,000, same insisted on independant engineer overseeing installation & we had to foot bill 5,000, Local Engineer insisted on 2 40ft long steel H beams in roof so we had to pay for crane & steel 5,000. The list goes on)
We had €15,000 savings for furnishing finishing house. This got eaten up by €80,000 of unexpected bills (mostly down to CoCo insisting on different items, we got 15 attachments to planning).
We tried to get the additional put onto an extension Mortgage but they only approved 30,000 so here is what happened:
€190,000 @ €700 pm (our planned for Mortgage)
€30,000 @ €120 pm (mortage 2 - top up)
€25,000 @ €364 pm (credit union loan)
€15,000 Savings got wiped
€10,000 @330 pm put on credit card (YIKES)
So we are left with an unfinished house (slowly painting etc) but we have a house :clap:
However we are now at €1,514 pm for house instead of €700 & because we are under such monetary pressure we have put an additional €6,000 onto our cc bill bringing it to €16,000. We have never missed a payment on anything but we have nothing extra
I need to stop money leaks fast and build in paying off the cc as well as a few luxuries for our family, I just need to pull my socks up and get on with it but after doing the figures it is going to take years to get us back to our original Mortgage, even just to clear the cc....
I'm kinda cross with myself because I know I should be looking at the positives & mostly I do but today sorting my budget is just making me weary.....