So, the quotes are in. It is safe to say they have both exceeded our expectations by at least $100,000.

We are not wanting to be in a position where we are house rich and cash poor. So we are having to look at areas where we can cut costs.

After some discussion we are re quoting with a few changes:

• Reducing the size of the living area and kitchen

• Changing the garage roof from gable to hip line

• Reducing the size of our office

• Removing the overhead storage from the garage - This would have required engineering

• Reducing the ceiling height of the bedrooms and hallway to 2.4 metres. Was originally 2.7 metres

• Changing the layout of the ensuite in the master bedroom

• Removing the level threshold to surrounding the house (would have been no step ups)

• Removed two windows
  

These changes will hopefully reduce the cost by around $100,000. We have managed to reduce the house in size by about 40m2.

We have also given up on solar panels and a sleep out for now (these weren’t a part of the quote though).

Most of them we are pretty ok about. The hardest ones to give up were the ensuite changes and the level threshold.

We are trying to combat the feelings that this is a long term house and that is easiest to perform house layout work now, as opposed to after it has been built. However, we are also very keenly aware, that the more the house costs, the less scope we have to live the flexible Coast FIRE lifestyle that we desire.

Tradeoffs have to be made and these are the ones we are happy to make. We aren’t willing to compromise on the quality of the windows or level of insulation. Stuff that can’t be seen, but affects our health and comfort.

In terms of choosing a builder, we received two quotes and both were pretty much identical. We have a preference to one builder though who seemed to be less secretive about costs, was willing to answer all our questions, had a much more detailed quote, and made the effort to get accurate prices instead of just including a bunch of allowances which is effectively guesswork.

So that’s it for now.

We will discuss the revised quote shortly. From there, we will hopefully be in a position to approve a build contract.