Friday, January 7, 2011

Home Building Update

I haven't updated on this in awhile. In fact, I've only mentioned it in one post.

So I'll update as much as I can, but I haven't mentioned it again because it's still not a "done deal".

I think we ended up meeting with 3 or 4 builders. We went through some of their model homes, looked at floor plans, checked out what their standards are (basically what you get for the base price of the home), and saw what things are considered an upgrade (a step up from the standard that will cost you more money).

We chose a builder that we want to go with and priced out a floor plan we liked. It ended up being over our budget. So we went back to the drawing board and picked out another (slightly smaller) floor plan that will keep us in budget.

The builder only has one lot left so we have no choice in that at all. It ends up that it's a corner lot on a sort of busy street. The lot is big enough (.5 acre) that it shouldn't be a problem and the street isn't super busy (not like Transit Rd in Buffalo or Jefferson Rd in Roc).

We had to get pre-approved for our mortgage which was a challenge. Since we don't want to sell our house first (and find interim housing), they had to approve us carrying both mortgages, which was hard to find someone willing to do that. But.....we did!!

Once we were pre-approved, the builder's realtor came over and we signed a contract. Gabe mailed in a deposit to them to hold the lot.

But....all of this can fall through if we don't get official approval for the mortgages. We submitted everything in December, but they are so busy that we won't hear for sure until mid-month. So...that's why this isn't a "done deal" yet. Once we get mortgage approval, we will officially be going through with this and they will break ground on the new house in March or April (which is VERY exciting!).

I'll keep ya posted!!

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