So the bank came back and renovations are out for now. Even though the appraisal for the value after renovations came back at $270K (and they had said we needed at least $250K) it was still denied by CMHC as it would eat up all the equity that we currently have in the house. Since we have no plans to move in the next two decades we didn’t see it as a problem but they don’t see it that way.
We had to notify our renovator again. He was quite understanding about it. We look forward to trying to proceed again with this at a later date. We’ll give it a few years and try again. In the mean time, we’ll have to move D3 into the basement – which means that I’ll lose my room (which, since it was cubically packed, I wasn't getting too much use out of anyways).
So the plan now is to move a bunch of our boxes from storage in the basement to off-site storage. Then we’ll move everything out of my room into either the space created or into off-site storage. Then D3 gets moved into my former room and we'll have to reconfigure the downstairs as needed. Then we’ll also have to reconfigure D3’s and G’s room into being just hers.
It’s going to be a busy summer.