So, I'm 32 but I've been retired for 4 months now. It's a mini-retirement covering all of 2016 and probably some or all of 2017 - we'll cross that bridge when we get to it. I discussed the details of how and why I decided to retire in my last post.
One of my retirement project was buying the house that we will hopefully live in for the next 10 to 18 years, although don't quote me on that because I have a tendency of getting bored of houses and wanting to move on.
We made an offer at the end of Jan and the transaction completed on 31-March-2016 bang in time to help us avoid an extra £9,000 in stamp duty tax. eeek! The new tax rule went into effect on 1-April-2016 and it essentially says that if you buy a house whilst you own a previous a home you need to pay an extra 3% in tax.
Anyhow, here is the video of the refurb and because someone always asks, I give a breakdown of costs below.
Necklace by Stella & Dot - obtained from ChikoM's store
Builder: Nicu (Sutton Coldfield, Birmingham): 07758 947830
Refurb Costs & Items, links below
If you want to buy a house to let out or you don't plan on living there long you'd probably spend less than we did because you don't have to go for top notch everything and you don't need extras like instant hot water taps and underfloor heating. Those would just eat your profit margin without adding any real value.
COSTS OF REFURB
To view this list properly you need to look at the desktop version. It won't show well in the mobile version. I've hyperlinked some of the products in case you want to get the same stuff.
I know £32,000 disappeared from our bank account during this refurb but I can only account for about £30,500. There must be one large ticket item I'm forgetting.
Paint and wallpaper - B&Q Trip 1
Various receipts from Nicu for inputs
Various receipts from Nicu for inputs 2
Various receipts from Nicu for inputs 3
16 coat/towel hooks
Fixing of boiler (replaced fan and panel)
Various receipts from Nicu for inputs 4
GRAND TOTAL: £30,582
Notes - items included in the kitchen price
Heather on Wealth
I enjoy helping people think through their personal finances and blog about that here. Join my personal finance community at The Money Spot™.
Ask Heather Katsonga
Business Cash Flow
Critical Illness Cover
Decreasing Term Insurance
Defined Benefit Pension
Earning More Money
Fear Of Risk
Money Spot Program
Office Of National Statistics
Personal Balance Sheet
Rule Of 72
Stay At Home Parent