November 5, 2012

On House Hunting and {Potentially} Building

The house hunt has been.....interesting.  A few weeks ago we went out with our realtor and saw four homes, three of which were foreclosures.  It was slightly depressing to see these homes and know that someone had lived in them, loved them and lost them.  But if we found the right one we were ready to do some work and love it ourselves.

Unfortunately we didn't find one that was love worthy.  I must admit there was one I really wanted V to love, the backyard was to die for!  This was nearly twice the size we'd get with any new(er) construction and backed to undevelopable property (simply because of location).  But the house needed more love than either V or I was really willing to give.  The other homes weren't really worth mentioning here.

So a few weeks have gone on, V and I have been doing a lot of research and have been looking at every real estate site under the sun.  But nothing new popped up, nothing worth looking at anyway.  There are only a couple of subdivision here, one of which that you can build in....but V and I are using his Veteran loan and bank in our area aren't doing VA construction loans.  We felt stuck, at least for the Winter, maybe something would come on the market in the Spring? We hoped.  On a whim V emailed the developer of the subdivision where we put an offer in on a house that wasn't accepted, he explained our situation and asked simply if they planned to build any more houses of the layout we liked.  One hour later the developer emailed us back to tell us that they have worked with VA loan people before and will carry all the building cost until the house is built then we can buy it!  We can even pick out several variables, we'd sign a contract before they break ground with a closing date of about 120 days out.  V and I spoke with our realtor to make sure he'd be paid (yes, through the developer like the sale of a already built home) and discusses some other concerns and everything came up roses!  It's almost too good to be true!

So that is where we are, we meet with the builder this week.  It's pretty likely that we will sign our contract this week and break ground next week.  It's hard to believe that we will likely be building our first home, the home Liam will grow up in.  I'm totally in shock!

Has anyone else out there built?  Advice?!

1 comment:

  1. Yes, it is a bit of a downer when you realize that the houses used to be owned and loved by those who used to live in them. If there’s anything to take from this, it’s the fact that these houses are usually rated at a lower price. For these cases, it is important to always check the insurance title. I’m glad you’ve found an awesome deal! Sometimes, knowing that you’re the first to live in a house helps develop a stronger attachment. ;]

    -->Drew Andrews