Renovations – denied

So the bank came back and is now saying that they don’t want to lend anything for any renovations. This is certainly a surprise to us as the only reason we were even trying for the full renovation amount was based on the understanding that the second floor renovations were going to be no problems. After all, if we there was any question about being able to afford a $130K renovation project, why would we try asking for $240 instead?

I’m going in to talk to the bank manager next week to complain about the agent. I don’t expect anything to change about the loan but I do want to express my displeasure about the agent and ensure that we never have to deal with her ever again. We’ve dealt with her twice over the years and been frustrated both times. A third time when she was on holidays we got to deal with a different agent and had a wonderful experience.

As frustrated as we feel about this, we feel even worse about our renovator – who had done proposals and floorplans and who we had told to pencil us in for starting in June. He had been great and we were looking forward to dealing with him for this. Now he’s going to have to try to move up other projects or get a project to fill the slot that we're leaving empty. I told him about our meeting next week but to start looking for some other project as I don't expect a different result. If we somehow manage to get approval for our minimum renovations we'll just add on the end of his list.

Regardless, the game room is out. We’re going to have to look into getting a storage locker and cleaning out my room and our storage room and moving the boy downstairs. It’s not our first choice, but it should be workable for a few years until we get to try again.
I’m so looking forward to going through this again.