Not much to report

Progress has been slow over the last fortnight.  David hasn’t been able to get to us for the past couple of weeks, but hopefully will manage a couple of days next week, as Dougie now has a reel of shotgun cable, ordered for him by Colin Chessor (who’ll be doing the satellite dish installation in due course) and is going to be running it into the living room and bedrooms next week.

Mick has spent a day down there today and we now have an insulated living room and the living room ceiling is plasterboarded.  By the time I went down to feed the sheep (who moved back to the fields around the house yesterday) it was too dark for photos.

On the finance and admin side, I got round to catching up on entering all my invoices and spends into my spreadsheet – we are now £35,000 into the budget *gulp*.  What I’m pleased about is that the majority of that money, all bar a couple of thousand, has been spent with local companies and tradespeople.  I do try to spend within the local economy where I can.  I’ve also ordered the correct Ordnance Survey map extract needed for the decrofting application, which arrived on Friday and is sitting in a tube on my desk ready for me to break out the colour pencils.  Since it cost me £19, I think the first thing to do is ask Mick to make several copies of it for me to practice on!  (My scanner doesn’t do A3).  Given I was sorting sheep out on the area in front of the house yesterday (we managed to pick up a few extras coming down the village!), I’m only going to apply to decroft the bit of ground the house sits on and a tiny bit behind it for a small garden – as long as I draw the map accurately, it should go through with no problems, as I’m not applying to decroft any areas that would restrict access to the rest of the croft.

Every little helps

I really need to sit down and go through the enormous stack of invoices that’s piling up under my desk, because I suspect I’ve gone very off-budget.  However, I’ve managed to bag another bargain this evening – B&Q had an offer on Sandtex masonry paint, 2 for £40 on all the 5 litre cans (usually £29 each), meaning I can have the colour I want for a little less than the colours that come in the bigger 10l tins (£44 each was the cheapest I could find them).

The paint splurge was prompted by Magnus sending me an email with an estimate of £800 for his labour costs, which he reckons will be 5-6 days and includes completely power-washing the house, but I need to buy the paint and he reckoned 100 litres would be a good starting point.  20 cans in the basket, £400 down from £580, free delivery to the Highlands and, as long as it tracks properly, 3% cashback via Quidco*

Where did the weekend go?

It seems it was Friday only about two seconds ago!  This is where the roofing team got to on Friday afternoon:

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You can’t see it very well on the picture (click on it to enlarge), but there are four scalloped diamonds on the roof, spaced in between the windows.  Pete suggested that we do a line of scallops connecting them as well, to echo the one at the ridge line.  I was expecting the diamonds to be three slates wide, as per my original drawing – if you want a laugh…:

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they’ve actually gone for four and we may have overcooked it slightly, but I think it only looks a bit overdone at the moment because the rest of the outside isn’t finished.  Once the house is painted a warm white with a dark green front door, a couple of dark green planters with colourful flowers either side, a new fence and new gate, it might well be just right.

Of course, the fact that the front is nearly finished means that I’m going to have to write another big cheque soon, as the second of the three payments is due on completion of slating.  My credit card bill for the insulation and flooring arrived last week (1% cashback on that card!) and when I logged in to pay it, I was slightly alarmed to see that I had no money transfer or balance transfer offers available – there’s been one on that card every month for at least the last three years.  I still have one available on my other card from the same provider, which I will take up next week, but this card has a £12,000 limit and not being able to access that is going to leave quite a big hole in the budget.

Save

Save

Hey big spender

I had to write the first big cheque last week (well, the first one since the one I wrote for buying the place, which was a whopper!), so I thought it was probably time to put my cards on the table and share my budget.

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There are really two parts to the budget: what’s needed to get it to the point where it could be sold or rented and what’s needed to furnish it to turn it into a holiday let.  Here are our figures.

Item Estimate
Roof & stonework £16,000.00
Electrics £4,655.00
Heating & burner install £7,000.00
Joinery £5,000.00
Kitchen units £3,000.00
Downstairs flooring £1,600.00
Carpets £750.00
Plasterboard & insulation £2,000.00
Skirting boards £200.00
Kitchen appliances £2,000.00
Switches, sockets, light fittings £500.00
Interior paint £500.00
Exterior paint £1,000.00
Shower tray & screen £700.00
Shower £400.00
Woodburner & kit £1,500.00
Windows and door £5,000.00
Door stripping £400.00
Miscellaneous tools £2,500.00
Bathroom tiles £250.00
Garden/fencing £2,000.00
Interest, council tax, electricity £3,500.00

Total: £60,455 *gulp* And we’re actually already £2,720 over the roof budget because of the extra work to the stone. On the plus side, the house and surrounding fields were valued at £77,500 on the home report (the rest of the value being assigned to the other croft) and should be worth in the region of £150-160,000 once we’re done, so we’re still just about in profit.

On the furnishings side..

Beds x 4 £750.00
Mattresses x 4 £1,300.00
Sofas x 2 £1,100.00
Kitchen table & chairs £800.00
Coffee table £200.00
TV unit £200.00
TV £300.00
Wardrobes x 3 £750.00
Drawers x 2 £500.00
Bedside tables x 4 £500.00
Pots, pans & crockery etc £600.00
Cushions, pictures etc. £500.00

Total:  £7,500.  I’ve priced up for mostly new, but am hoping I can save some money by buying good-quality second hand – browsing the local Facebook for sale group, I’ve already seen a really nice oak single bed frame that would be perfect for the small bedroom for £45.  A friend of mine recently furnished an entire rental property from the weekly furniture auctions at Dingwall and has a teenage niece who’s got the long summer holidays coming up who is very, very talented at smartening up bargain buys, so I’m hoping she might be employable for a few days!  The one thing I refuse to buy second-hand are mattresses.

We’ve also agreed a £5,000 contingency, bringing the overall grand total potential spend to an absolutely eye-watering £72,955.  We have enough cash, from savings and 0% offers, to get us to the house being more or less finished, but not the garden – so I need to crack on with the decrofting application for the house site to make sure that as soon as there’s a working kitchen and bathroom in place, I can get on with a mortgage application to release money to pay back the 0% deals as they expire and put the final touches to it so it can start earning its keep.

Budget Day

Not just for Mr Osborne, but I thought I’d add up how much I’ve spent to get here so far, as the solicitor’s bill arrived this afternoon.

The only two expenses I’ve had (not counting the running costs for my sheep – I’m keeping my crofting budget separate) are the interest on the money I’ve borrowed from my family and the legal fees, so the accounts so far look like this:

Difference between money borrowed and purchase price – £70.51
10th Nov – Interest – £96.68
10th Dec – Interest – £276.88
11th Jan – Interest – £276.88
10th Feb – Interest – £276.88
10th Mar – Interest – £276.88
16th Mar – Solicitor’s bill – £766.00
Total:  £2,040.71

So it’s cost me a little over £2,000 just to get the keys.  In fairness, that’s not bad – I had to sit down when I opened the solicitor’s letter, as I was expecting that to be four figures and possibly starting with a 2!  I shall drop in and pay it tomorrow and leave a large Easter egg for Jane, my solicitor 🙂

I had a call back from Dougie the electrician this afternoon – he was up the road in Melvich, could he come and have a look?  Sure.  The good news is that he’s agreed to quote for it, so I need to think about what I want in each room in terms of lighting and sockets (I don’t need to finalise positions just yet), think about where I want the TV and the phone, as he’s going to hide all the cabling currently tacked to the front of the house for those, and decide whether I want the power to the byre to be on a separate meter to the rest of the house.  He’s also going to move the position of and seriously upgrade the heating controls (it’s a cheap clockwork timer and the noise is really annoying) and move the meter and fusebox etc. – he’d seen that the main power cable into the house is chased into the harling down the outside wall and then goes through a wooden panel above the front door, which isn’t ideal, so since we’re getting the door replaced and we’ll have someone patching the non-harled bits that will be revealed when Pete takes the fascia boards off, it’s going to go through the wall at the height of the connection and all be hidden in a little cupboard on the landing.  Mick has suggested that we ask him to also quote for putting in outside lights, particularly one to illuminate the fanks (sheep handling system), and also for wiring in a back-up generator so that if we do have guests in and there’s a power cut, it’ll cut in and take over.  We actually have a generator here, but it’s not wired in, so it can go down the road.

Another two hours stripping out panelling and bedroom one is very nearly ready for work to start.  The priority over the next few days is to get the surfaces with the Veluxes/proposed Veluxes bare so that if Pete wants to start cutting holes in the roof next week it’s all ready to go.  I uncovered a MAHOOSIVE spider which I thought was dead, but turned out not to be.  Mick really Does Not Do spiders, so I had to dispose of it out of the bedroom window.