So now that we have our finished floor plans in hand, the cost break down sheet and the signed contract with IPH Tony has ordered the appraisal. From what I understand the appraiser looks at the plans, cost breakdown and the site to determine the total value when it is completed. We are eligible to borrow up to 80% of the appraised value so higher is better.  That doesnt necessarily mean we are qualified to borrow that amount.

We got word that our appraisal came in at $350K, Wow!!!  80% of that is 280K but we are hoping to keep our building costs under 200K in order to keep our monthly payments reasonable. The total cost breakdown had me concerned at first but some of the estimates are coming in lower than expected and the breakdown includes the market rates for all of the work we are going to do (which should be much less).

The following list is some of the work that we have decided to do on our own and with the help of our skilled and generous friends and family:

• Set the walls (Dont worry Jon was a framer, we arent just crazy)
• Drywall / texture
• Interior painting (What? I painted a mug in pottery and it looked great)
• Install flooring, cabinets and shelves
• Base board, doors, locks and knobs
• Install outlets, switches, and light fixtures
• Site cleanup (my swiffer should take care of that)
• And a few others ( Don't worry, we know what we are getting in to J ) 

Keep checking back to hear how this all pans out.

J Sarah