TIGHTEN THE BELT
WORDS MEG BIGNELL
There is no escaping the fact that Bec and George’s
financial situation is heading towards critical. Having been
plagued by expensive complications from the beginning of
the build, they have blown their contingency money and
gone way over budget.
F
irst there was the little problem of asbestos – the house was riddled
with it. Asbestos removal is laborious, time consuming and costly. And
there are no shortcuts or alternative options when dealing with such a
dangerous substance. COST: $6,500.
Then there was the aging septic tank, which had to be replaced by a new
Taylex Wastewater system. COST: $20,000. Again this was non-negotiable,
and further complicated by the presence of a pesky piece of rock and the
need for some explosives. COST: $6,700. That gives ‘blowing the budget’ a
whole new meaning.
Then the neighbour’s entire boundary fence had to be replaced because it
was in the way and at risk of collapse. COST: $1,600.
TOTAL COST: $34,800.
The contingency money that Bec and George had wisely set aside came to
$24,500. There is a clear deficit.
What else could add to the money worries?
George could dream up a whole new level to the house, and then set his
heart on it, that’s what.
When viewing architect Sam’s extension plans for the first time, George’s
eye was caught by the space beneath the house.
“It just seemed like a no brainer – to use that dead space,” says George. “It
could be a separate living space, a rumpus room, maybe a home theatre. I
don’t know yet, but it makes sense to use it.”
COST OF THE NEW ROOM? $80,000.
Annette from My State/The Rock promised that she would do her best to
help, but her best offer has come in at $75,000. This doesn’t quite cover
the cost of the new space, nor does it go anywhere towards replacing the
contingency cash.
The couple had no choice but to tighten the purse strings and try to make
up the difference with cost savings. Bec has opened her mind to looking at
less prestigious brand names and has been pleasantly surprised. George has
had to bite the bullet and pick up the tools.
“It’s not his favourite thing to do anymore,” says Bec. “He thought he’d
downed his tools, but the room is his thing, he’s set on it and, frankly, he has
to help save.”
George, you’ve been told.
4