Since the shock of the Council contribution fee, we've been revisiting the budget. A call to the bank revealed that we were not eligible for a mortgage holiday. A call to the mortgage broker revealed that we couldn't borrow any more and we were not on the lowest interest rate possible. Our home mortgage had come off a fixed interest only contract and reverted to interest and principle. Somehow, the mortgage broker managed to get that changed to interest only for an extended period, so we could redirect as much cash as possible towards decorating the house.
Connecting the house to power, drainage and water and decorating will be minimised down to what ever we have to do to get the house up to Code. If we can complete the necessary work to get Code of Compliance, then we can get the surveyor back and apply for an up-to-date title. New title in hand we can refinance and breath easy again. There are hurdles and costs associated with getting the new title, but we just have to hope things will go smoothly. If we run out of money to complete the work, then we may have to try and get tenants in while we continue on with the improvements as our salaries allow.
In the meantime, we've been trawling through the building and renovation, closing soon auctions on Trade Me looking to pick up things we need for the house. We've got, for example, a rangehood for $1, not one but 2 matching letterboxes for $2, a stainless steel laundry tub for $20, washing machine taps for $21, a set of internal doors for $40, lampshades galore, curtain material, a house lot of venetian blinds and a fire surround. We didn't need the very large, if not over-sized supposedly kauri antique fire surround with mirror. But, it was only $34!
The drainage quotes are prohibitive and we'll have to dig the trench ourselves, if we can find a drainlayer willing to oversee our work.
The permit has finally been approved - which is a milestone. The designer had to redo the drawings twice before the Council was happy. The house now sits 6 metres off the back fence and the front yard will be parking. Just as well it wasn't our dream home or even a place we were going to move in to - helps with not caring when the powers-that-be just decide things will be different from what you wanted.
So, it's on to moving the house.
