As this project gets ever closer to completion I have been looking again at the budgets and forecasts to see how close to the original projections we may end up.
I am not normally renowned for keeping detailed financial records (in fact detailed records of any kind) but I have forced myself to be very disciplined with this project and looking back at all the figures now I am very pleased I did.
The final bills are all coming in and there are only relatively small balances left outstanding. So where are we?
This table shows three columns. The first estimate, the revised estimate and the amount of money committed (although not necessarily paid out) so far. It is the revised estimate I am using as my budget as that is the one we used to re-negotiate the price of the house in October last year.
First Estimate | Revised Estimate | Committed |
£30,370 | £40,677 | £39,000 |
If I have calculated this all properly and assuming the builder doesn't remind me of some extras I have forgotten about, I have just over £1500 left in the pot to deliver this project on budget.
I still have to purchase the following.
- Bathroom and Kitchen Wall and Floor Tiles
- Laminate Flooring for Downstairs
- Carpet for the bedroom, stairs and landing
- A dishwasher (not sure what size yet)
There is also the possibility of requiring yet another skip!
I think it is going to be very close but I might just do this. The flooring will be about £800, the tiles about £300 and the dishwasher should take the balance. Avoiding another skip could be crucial.
Ultimately, going over budget by a small amount will not be critical but I have been so focused on trying to stick to the original plans it would be great to deliver on it.
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