Even though the renovation of our house is taking a lot longer than expected, we’ve felt very fortunate for a number of reasons. We had adequate insurance that actually paid a reasonable amount in a timely fashion. Plus we’re able to live in the part of our house that wasn’t flooded. Yes, the renovation is slow, but at least it’s smooth. In fact, we were anticipating that we might even come out ahead financially. Thus we haven’t applied for any additional assistance and haven’t had to deal with the massive boondoggle that is the Road Home program.
Or so I thought until I talked to Mike (our contractor) yesterday afternoon. He explained that to finish the job will put us significantly over budget — maybe as much as $15,000, almost 25% more than the estimate. That may exceed the amount of our insurance payout.
And here we thought he’d highballed the original estimate.
Mike’s a trusted friend. He’s not trying to screw me. There were a lot of unanticipated expenses. The termite damage was much more extensive than we thought, so we ended up replacing all the structural wood on the lower floor of the house. That was a huge job.
Our mortgage company is sending out an inspector to see how much work has been done so far.
I guess it’s time to head over to road2la.org and start my application.