To think where the hell do they get the money (and time)

[BetteDavisWeLuvU]

Just sat browsing through Instagram. I follow a lot of house reno accounts because up until having DC we were renovating ours, so as well people I follow I also get targeted by other home accs.

Obviously in lockdown I’ve had more time to browse, and am just astounded with the sheer amount of these accounts and how amazing most of them are and I’m just constantly thinking how the f do they afford it, and have time.

I’m pt (only 20hrs) but have a senior role and DH runs his own professional services businesses and is in the high earner tax bracket, we also have a relatively small mortgage living in the north. These seem like normal folks with normal jobs, like us, but there is no way we could afford the scales of these renovations and in the timescales, whole 4/5 bed houses with extensions in 2/3 years.

And before anyone starts it’s not jealousy per se, but more where the f are we going wrong?!? And the time, some of these people have multiple kids, I just don’t understand how you could hold down a job which would pay you the sort of salary you would need to pay for these renos and the quality of fittings (DH works 14 hr days, I worked 11 hr days before DC) along with planning and project managing it all and looking after young children. What are we missing?!?

Nb. Yes know it could be family money etc. in some cases but this unusual, the sheer volume of these accs means it can’t be that. And also yes I know I should spend less time on Instagram!!

It depends what your priorities are and either how much you earn and how much debt you are happy to take on.
This hits the nail on the head.

Friends of mine bought a shell of a house in their perfect location and took a loan out to cover the majority of structural costs. Once that was done and the home was liveable, they decorated and did cosmetic work a little at a time.

Amusingly according to some on this thread they've either inherited lots of money, are loaded, or my female friend must have married a terribly dull high earning man (also a friend) to subside her life.

I'm friends with a few couples who are doing large renovations/extensions, they all have a few things in common.

1. All late 30s
2. Met partners in teens/early 20s
3. Bought first property before 25
4. Had help from family to buy first property and subsequently with buying/renovating
5. Have above average household income (although I'm pretty sure only one couple is in excess of £100k)
6. The house they are renovating is their 4/5 property.

We are in the south east and they have all benefited in the massive rise in property prices.

However, I know that two of the couples are in a lot of debt having remortgaged multiple times, loans and maxed out credit cards. One couple have started an insta account purely to try and get freebies (but it's not working as they aren't playing the insta game properly). You wouldn't know from their account that they have money troubles, as pp have said it is very easy to manipulate social media. Another couple sold after renovating and downsized as they ended up in the situation of having a big house that cost too much to heat and high debt repayments.

There is another Instagrammer I follow who sold up after she renovated her house and then bought a new build. She said it was because she was moving to a new town, that renovating is hard and it wasn't fair on her dcs to live in another building site but I wonder whether she just really overstretched herself (again, the renovation was done very quickly) and had to sell.

During lockdown I have developed an addiction to George Clark's Ugly House to Lovely House on Channel 4. Every single project starts off with a budget that they always, always exceed by a significant amount. But they never explain how they conjure up this extra money or even where the massive budget came from in the first place. I have zero savings and live essentially hand to mouth so it's very vicarious viewing for me.

I've wondered this too, but suspect a lot of it is having trades in the family. If you scroll through some of these feeds, you'll see them mention that their dad/brother/best friend is a joiner/electrician/plumber/builder and that brings mega savings! My colleague, who doesn't earn tons, is buying a new home and will be doing a wraparound single storey extension... her dad is a builder so it will cost her half (or less) of what it would cost the typical person.

Oops, sorry, this thread is so old!