22. 06. 2012

Okay so the estimates/quotes came in for the repair works needed to the back of our house and they average between £3,000 and £4,000…..around the amount we were expecting, which is good as we didn’t want a BIG shock! Now we just need to pay for it!

For cash flows sake we are putting most of the July mortgage overpayment on hold – the builder we’ve chosen hasn’t come back to us with a start date yet, but we would rather be prepared and have the money ready. The main part of the building work will eventually be paid for out of our freedom fund account, but until all the actual numbers are in we’d rather keep some cash on hand.

I hate putting our debt repayment on hold, even if it’s for a month, but if we want to move and sell/rent our house then this work needs doing – we also had a water seeping issue in the kitchen and this work should will put an end to that…fingers crossed.

**Edit: The builders can’t start for another 7-8 weeks, so the July 1st mortgage overpayment can go ahead and we’ll make some changes in August :)

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In 2014 my husband & I downsized our home to speed up our quest for Financial Freedom. We swapped our large three bed house, for a small two bed apartment to clear our mortgage and give us enough budget freedom to travel and still save for the future. Our dream, after achieving Financial Freedom, is to spend part of every year living abroad.

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10 Responses to “On House Repairs”

  1. That is a big bill, but it is satisfying to get major work done and know that the investment in your house is being maintained!

  2. Hi Laura,

    Just catching up with your posts.

    Repair work is a necessary evil isn’t it? We’ve been lucky since the roof but you just never know and like you I would go crazy having to use mortgage freedom money for it. At least it will come out of your freedom fund eventually.

    Sealed pot post made me laugh. Our first is full so we’re starting on a second. All money to go towards Cornwall next year. It’s all booked so now we’re trying to pay for it!

    Sft x

    • I’m trying to avoid making any changes to our mortgage payoff schedule, but if we have too for the repairs then we will…but like you it would drive me crazy! :)

      Well done on filling one pot and starting another…..I’m slacking! :)

  3. Maureen says:

    What a relief to know you are not having to go into debt for such a huge repair, how clever are you….

  4. Jane says:

    I’m hoping when we start to fix our place up to sell that we don’t have any unexpected expensive repairs to make – keeping our fingers crossed!

  5. […] Save £4,000 for a trip to Washington/NY in 2013. Goal on hold as we need to pay approx £4k for house repairs. […]

  6. […] Save £4,000 for a trip to Washington/NY in 2013. Goal on hold as we need to pay approx £4k for house repairs. […]