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Building, self build, questions

  • 29-07-2009 12:42pm
    #1
    SMcDplayer
    Closed Accounts Posts: 1 ✭


    Hi all,

    I'm thinking of building a house. Was just wondering what are the hidden costs that I would have to pay, like the council fee's etc.

    Also with a self build will a bank give me money to furnish it too or just enough to build the house?

    Thanks!!


Comments

  • #2
    LowOdour
    Registered Users, Registered Users 2 Posts: 2,590 ✭✭✭LowOdour


    Read through some of the stickies, they help me alot out regarding self builds.

    As for the bank, as long as the engineer signs off they wont look at what every penny you spend goes on so your furnishings will come out from your morgtage.


  • #3
    Mike2006
    Registered Users, Registered Users 2 Posts: 689 ✭✭✭Mike2006


    One thing to consider when drawing down your mortgage is that if you do decide to get enough money to furnish the house as well then you are basically taking out a 30/35 yr loan on a sofa or table or whatever.....

    My opionion would be to save for those items if possible or just purchase what is totally necessary..


  • #4
    Jollyman
    Registered Users, Registered Users 2 Posts: 247 ✭✭Jollyman


    www.selfbuildardmore.blogspot.com


  • #5
    mr_edge_to_you
    Registered Users, Registered Users 2 Posts: 3,148 ✭✭✭mr_edge_to_you


    Best of luck with your build! Things to consider: 1. 2k for engineer for mortgage stage payment signoffs. 2. 2k for solicitor's fees. 3. 2.5k for Esb connection. 4. Cost of light fittings! 5. 1k for building contract to be drawn up by engineer (i think i'm one of the very few people here to have done that). If you own a site some lenders (through a broker) will lend 80% of the BUILDING COST. Your engineer is fully entitled to sign of on the construction value of the house only. Therefore he may not sign off a stage payment cert for 70k if the value of work done is only 50k. Using mortgage finance to furnish your house is easy but it's financial suicide! That's plasma tv won't be there in 30 years, nor will the reclining sofa.


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