We finally have an offer on our home. We've dropped in price, reasoning that we need the money to finish the build project. It frees up our capital to finish the relocatable and move on to the next project.
It's nail-biting time as we wait for the contract to go unconditional. If it goes through, we have just 15 days to find somewhere to go, pack and move.
Living in a Warehouse
We feel like we need a warehouse, or a very large space to store all our stuff. We've got fittings and decorations for the new house which we can't leave over there in case it gets stolen. We've got shop fit out for a planned business venture we might one day get off the ground. And, then there's us, the kitten and 3 goldfish.
A warehouse would enable us to play with some creative projects we just get to dream about: carving, building a container home (i.e. a home made out of renovated ship containers).
A big enough house, with the space we need will cost at least $470 per week to rent. To get huge space, we'll have to pay up to $670 (which we can't do).
None of the commercial spaces we've looked at have more than a tea room and toilet, and some carpeted office space.
We can't live in the relocatable, because there's still no power and water, plumping, ceilings or security. Neither will these things be in place by mid-September at the rate things are going.
But at least we may have finally sold our house, after 6 months on the market selling privately. Go us!
Tuesday, August 31, 2010
Delays, lies and miscommunication: Week 1
The house has been on the section for 3 weeks. The first week was taken up with the moving of the house from storage, getting it on to the section, pushing the two parts together and digging holes for the foundations. Before the concrete could be poured, the Council had to inspect. The housemovers claimed they'd booked the inspection, but on the day the inspection was needed, the Council wouldn't come. Two things: we hadn't paid the Council contribution; and, they had some other "tag" on the file indicating that they were awaiting an updated drawing.
The Council contribution had not been paid because the Council issued the building permit, despite that the 'contribution' was supposed to be paid first. They never issued an invoice or call to pay. So, we went on with the move and kept the money in the bank. Lesson: pay the Council at least a few working days before you need to book your first Council inspection.
So 3 things converged to delay the first inspection: 'contribution' hadn't been paid (our fault); an old tag was on the file that should have been removed (Council fault); and the housemovers left booking the inspection until the day they needed it to happen (housemover's fault). The housemovers claimed that they had already booked the inspection, which they couldn't have done. As soon as they informed us of the problem, we rushed in to Council with the cash, and two hours later had all the 'tags' removed from the permit, but by then it was too late to get on the inspection schedule for the next day. The housemovers by now had packed up and moved on to another job!
A really helpful, go-the-extra-mile clerk did manage to get our inspection squeezed in for the next day. But the housemovers didn't come back to pour the footings until Thursday. We were relieved they came back at all... they were now squeezing our incomplete job in between other moves. Meanwhile, we couldn't work on the house because it was still up in the air on jacks. Thursday afternoon the housemovers came back, the concrete was poured and the house was lowered on to it's piles. Friday the housemovers began rebuilding the roof.
A whole week had passed before we could get in and start work on the house.
The Council contribution had not been paid because the Council issued the building permit, despite that the 'contribution' was supposed to be paid first. They never issued an invoice or call to pay. So, we went on with the move and kept the money in the bank. Lesson: pay the Council at least a few working days before you need to book your first Council inspection.
So 3 things converged to delay the first inspection: 'contribution' hadn't been paid (our fault); an old tag was on the file that should have been removed (Council fault); and the housemovers left booking the inspection until the day they needed it to happen (housemover's fault). The housemovers claimed that they had already booked the inspection, which they couldn't have done. As soon as they informed us of the problem, we rushed in to Council with the cash, and two hours later had all the 'tags' removed from the permit, but by then it was too late to get on the inspection schedule for the next day. The housemovers by now had packed up and moved on to another job!
A really helpful, go-the-extra-mile clerk did manage to get our inspection squeezed in for the next day. But the housemovers didn't come back to pour the footings until Thursday. We were relieved they came back at all... they were now squeezing our incomplete job in between other moves. Meanwhile, we couldn't work on the house because it was still up in the air on jacks. Thursday afternoon the housemovers came back, the concrete was poured and the house was lowered on to it's piles. Friday the housemovers began rebuilding the roof.
A whole week had passed before we could get in and start work on the house.
Monday, August 9, 2010
Robert Kiyosaki explains the real estate crash
http://au.pfinance.yahoo.com/b/richricher/83/2010-the-best-of-times-or-the-worst
Land is getting cheaper... what are the people with money waiting for? Sure they can turn their pretend paper dollars in to solid silver or gold... but that'd be buying high.
Land is getting cheaper... what are the people with money waiting for? Sure they can turn their pretend paper dollars in to solid silver or gold... but that'd be buying high.
The House Moves On
In the deep of night the house finally moved from South Auckland to it's new home in Otahuhu. The pictures tell the story - http://www.flickr.com/photos/50089800@N06/sets/72157624686318004/
We're going off to get some rest. It's been an amazing 24 hours.
We're going off to get some rest. It's been an amazing 24 hours.
Tuesday, August 3, 2010
House move delayed
The house movers have put off moving the house until next Monday. Partly we sigh relief that we don't have all that hard work to do. But, hang on that's not right - we need to do the hard work as soon as we can. Every day is another day of liability not asset.
Sunday, August 1, 2010
Pegged and ready
The man at the refuse station has been very kind to us. Week after week we’ve taken our offering of dirt, weeds and litter, trailer load after trailer load. We took our last load of that today, despite the rain. It’s cost a lot and would have cost more if the tip man hadn’t made it a practice to discount our last load of the day.
The section is now ready for the house. We’ve pegged out the line for the right-hand side of the house to be lined up on. We removed the old wire fencing. We’ve got the people who own the rental properties and the back and in front on side. All’s good.
The house moves this coming Wednesday or Thursday night.
The section is now ready for the house. We’ve pegged out the line for the right-hand side of the house to be lined up on. We removed the old wire fencing. We’ve got the people who own the rental properties and the back and in front on side. All’s good.
The house moves this coming Wednesday or Thursday night.
Monday, July 12, 2010
Can we decorate solely using Trade Me bargains?
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.
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.
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