<p>BUDGET UPDATE</p>
<p>As promised, I am going to give a full disclosure update on our progress. I wish I could fudge the numbers and pretend that everything is going great, but Im going to give the reality of the money pit.</p>
<p>Last full update was 8/26, post #235. I had an actual $500 over budget with an estimate. Im going to go back to that number and start from there, the plumbing overage estimate was way off </p>
<p>ELECTRICAL: We are finally done with the rough electrical!!! Electrician spent a couple more days working on things since last update because I wanted to put in some good weatherproof outlets outside, a motion detector and special slope ceiling recessed lights in the kitchen area. I even put in a weatherproof outlet under the eaves so that the buyers could put up Xmas lights if they wanted. He also couldnt finish the laundry room 220 outlet and regular outlet because the walls werent built yet. Lots of small details needed to get finished. I can report that the total electrical cost with labor and materials = $3,750. This is much more than I had estimated. But, with the recessed lighting I will save costs on decorative lighting (well, at least that is what I keep telling myself).</p>
<p>PLUMBING: We are still not done!!! But cost to date is $2,500. The guys have a deadline of Tuesday to get done with all of the gas, water and sewer lines because drywall is going up Wednesday whether they like it or not.</p>
<p>NEW OVERAGE FOR PLUMBING AND ELECTRICAL = ($2,500 + $3,750) - $3,000 budget = $3,250 OVER</p>
<p>PRIOR OVERAGE $500 + $3,250 = $3,750 total over budget at this point</p>
<p>WINDOWS Half of our windows are installed now. We spent a lot of time framing in windows/doors that were being closed off to make 2nd bathroom and re-configuring the windows and doors in other areas of the house. We needed to get the framing and cut outs completed before the stucco could start. Not done with the windows in the front of the house yet so I will give an update on budget later.</p>
<p>STUCCO Stucco guys have put a bottom screed around the whole house and patched up the bottom. They finished all the other patches with a scratch coat. Today the re-stucco coat will go on with color. Color selected is La Habra Premium Color Charleston. I selected a smooth finish called Santa Barbara with a slight skip trowel. I personally prefer smooth stucco and dont like what I call the 70s high texture type of stucco. STUCCO COST = $3,100 for everything. Budget was $2,500, so again, I am over budget.</p>
<p>One of the reasons we went over budget is the prior owner had some bozo come and spray Tex Coat stuff all over the house. And when I say all over the house, I mean all over. The eaves, fascia, everything has this weird texture spray on it. We replaced all the fascia, but we only replaced some of the eaves and roof underlayment where needed. This means that the eaves and overhang now have 80% with weird peeling tex coat and other 20% is new wood. Tex Coat was some wonder product that snake oil salesmen promised lasted a lifetime. Well, they are now out of business because this crap does not last a lifetime and hundreds of people were probably calling them up to fix it. I now have to figure out a way to recreate bump texture on my eaves and overhang or pay a lot to scrape it all off. Im going to have the painter roll on some matching texture where needed. But, it was peeling everywhere so we had to rent power washer and power wash everything to be able to apply new stucco.</p>
<p>PRIOR OVERAGE $3,750 + $600 = $4,350 over budget now.
INSULATION We have completed the insulation of all the walls and ceilings to get ready for drywall installation. ACTUAL COST $1,200 and budget was $1,500.</p>
<p>PRIOR OVERAGE $4,350 - $300 = $4,050 over budget now.</p>
<p>I am working on loading some new pictures that show the stucco progress, new windows installed, laundry closet and walls ready for drywall.</p>
<p>Our goal next week is to start the giant drywall process on Wednesday morning. We still have to finish some plumbing and close up our floors so the drywall guys dont kill themselves trying to maneuver on open floor joists. Had to call up four different drywall guys and get quotes all week because it is a big job and I want to sub it out so that our crew can concentrate on finishing doors and windows and fences.</p>
<p>P.S. Im only highlighting specific areas that were budgeted. Obviously I have a lot of other general costs going on. In general I have spent $38,000 so far on this project and my overall goal is $75,000. Because I had a $7,500 contingency I might actually make the overall budget. We will see.</p>