Reply to: How do I stop the spending - Renovating new house

[NorthWestPerm2Contr]

I nearly ended up living with one 30-odd years ago, and she was always ahead of me on the pay front until I cleared off abroad.

That was a senior job in a hospital though. Does your missus work in the NHS or for a retail outlet?

Retail - for a vocational degree after 5 years of study, it really is peanuts. We are talking about less than half the rates they used to be in real terms.....

[Sysman]

Normally I wouldn't be so arsed but wife is a pharmacist and cleaners have now overtaken them in terms of pay....

Slightly going off topic, but is anybody else related to a pharmacist? I am very close to telling her to completely quit that profession now the pay has dropped by like 50%......

I nearly ended up living with one 30-odd years ago, and she was always ahead of me on the pay front until I cleared off abroad.

That was a senior job in a hospital though. Does your missus work in the NHS or for a retail outlet?

[Sysman]

They inspected once and they went on and on about how I should remove the plaster (done about 60 years ago ) in order to expose the original timbers. Since then I decided to ignore them

Feck removing the plaster to expose original timbers.

I had a place like that where the previous owners had gone overboard with exposed timbers.

A couple of years in and I was pining for clean white walls and straight edges.

[Sysman]

Do it in manageable bits and always complete one job before starting another IMHO.

WHS +1

[Sysman]

Those ready to move into houses seem cheap in comparison now, dont they?

Or even one that's already fully renovated. When I was hunting for my first house I didn't want a new build but there were plenty of done up cottages at the right price. My parents were hell bent on persuading me to get a wreck to do up myself, but I was already working silly hours in IT so that wasn't going to happen.

Once I started contracting I naively dreamed of getting a contract away from home so I could buy a wreck and send builders in to sort it while I was away.

Fortunately before I made that fatal step I learned that you need to keep on top of the buggers.

[bobspud]

I play it a litte more cautious than that tbh but still same principe. Blowing it on the first project that needs more money than I have is NOT the way to go... particularly I was in a gig at Barclays!!

Yes. I stay away from the types of clients that like to dump contractors on their arses for fun. (Yes that's you HP!)

[northernladuk]

That's down to your own risk aversion. I am hardly ever out of work so I tend to say stuff a big war chest for now and keep no more than a few months stashed.

Going forward I intend to save 6 months worth of money as a war chest then dip into that as I start my next contract on the basis that I pay the money back during the life of the contract.

I play it a litte more cautious than that tbh but still same principe. Blowing it on the first project that needs more money than I have is NOT the way to go... particularly I was in a gig at Barclays!!

[bobspud]

Are you getting solar power, hence no electricity bill?

I have a cunning plan m'lud

(Either solar or hydrogen generator)

[rootsnall]

And from bitter experience buying a new car as a contractor is a fools errand unless its for cash.

I've never understood why anyone would ever buy a car on credit ?

[bobspud]

So when ARE you allowed to spend the WC?

That's down to your own risk aversion. I am hardly ever out of work so I tend to say stuff a big war chest for now and keep no more than a few months stashed.

Going forward I intend to save 6 months worth of money as a war chest then dip into that as I start my next contract on the basis that I pay the money back during the life of the contract.

[rootsnall]

So when ARE you allowed to spend the WC?

When you are out of work.

[Kelstar]

It's no fun trying to take a few months off sat it a bomb site, i would rather blow the money and know that in one more year the only bills I will have is a mortgage, council tax and the gas bill.

And from bitter experience buying a new car as a contractor is a fools errand unless its for cash.

I have waited all my adult life and saved for this car - I'm telling you I am going to enjoy it!!!

Fair enough, good luck with the rest of the work. Will be worth it when its all done!

[escapeUK]

It's no fun trying to take a few months off sat it a bomb site, i would rather blow the money and know that in one more year the only bills I will have is a mortgage, council tax and the gas bill.

And from bitter experience buying a new car as a contractor is a fools errand unless its for cash.

Are you getting solar power, hence no electricity bill?

[bobspud]

You want to be able to enjoy yourself, take time off, feel rested etc... must be doing your head in!

It's no fun trying to take a few months off sat it a bomb site, i would rather blow the money and know that in one more year the only bills I will have is a mortgage, council tax and the gas bill.

And from bitter experience buying a new car as a contractor is a fools errand unless its for cash.

[sasguru]

To answer the OP: get some Poles in and price per job, whatver they estimate for materials, double that.
Then you'll get a good estimate of total costs.