Saturday, April 21, 2018

Analysis of a coffee maker – part II

I write about what I think is important. Coffee plays an important part in my life. Thank you-know-who that science has now decided that coffee can be beneficial to your health. After all, it is not likely that I will give up my 10 cups or so per day – and now I can drink all I want with a good conscience.

My earlier post on coffee maker analysis shows how I sometimes agonize about a decision – even to the point of paralysis. Then suddenly I jump and once the decision is taken I execute. The coffee maker decision has been put-off for at least a year. But last weekend I did not want to wait anymore.  I put off deciding because I wanted it for the new residence I am trying to build – but the city’s bureaucracy has prevented that since last July when my builder submitted for the first permit. Everything there after went slow.
Last January 2017 after years of thinking about what to do with my previous residence, I decided that building a new one on the lot was the right thing. Next, I hunted for a builder. Not many responded because one property was not big enough a project. One custom builder, though, responded and we met over several weeks. Then I noticed that the costs and charges escalated through the roof; apparently, the builder felt I might make too much profit on the property. I fired them – I don’t like being fleeced. After inquiring amongst several acquintances by March, I found an old friend from my boy scout leader days who was interested. By May we had the place roughed out and by July architectural drawings were ready for submission to the City. Then the misery started.
Dealing with the city we could not proceed with demolition until the utilities were disconnected. The bureaucracy was thus that it took until November to do so. Then we got permission in December to tear down the old house but… no building permit. A loft on the roof was not accessible enough by the Fire Department in case of a fire. I decided to avoid any problems and we redesigned the roof omitting the loft. In fact, I liked the design even better than before. But it took Rona nearly one and a half month to redesign the roof rafters. Finally, by February 2018 we submitted the updated design. O… the rules had changed just around that time and now the builder was required to apply for ‘builder status’ with the province which, in turn,  was required to apply for ‘New Home Warranty’ in spite of the fact that I would be living in the new residence myself probably for many years to come.  Once the builder was approved, he submitted for New Home Warranty. However,  the insurance company had a lot of demands as well, such as lines of credit with the builder’s bank and financial statements going back many years.

My builder (40 years in business) is a small outfit that builds anything including once every so many years, through his company, a residence. Thus, his company lays often dormant so how can he show consecutive annual tax returns? Anyway, it is now half April and we are still waiting for the insurance companies, some of which do no longer provide said insurance and… didn’t bother to inform us. We hope to start construction in May.

With this ongoing drama, am I going to wait for a good cup of Java until the house is finished 6 to 8 months from now (I hope)? Shoot, my application for a building permit feels like building an oil or gas pipeline!  So, I decided to buy the coffee maker. The old one has broken down and I ordered a DeLonghi Magnifica (I kid you not - Magnifico!) on Amazon which was delivered 2 days ago.
So today, Saturday I have been drinking cappuccinos and Americanos all day long while writing my blog posts. Delicious coffee – life is good again and I can handle a bit more bureaucracy. Bring it on!  Analysis, patience and frustrating set backs are basic to investing and the building of a good portfolio – my coffee maker analysis and home building experiences are a demonstration of that.

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