26 December 2009

Ok, so I couldn't wait until Jan to post an update, but I just had to do something!
So I put together a few little piccies that I could find to show you what I will be owning in (hopefully) 12mths time....

This little article was in the developer's current newsletter...




The above 2 diagrams are 'artist's impressions' of what we've bought ourselves into. Not exactly original or exciting, and definitely not my dream house but it will be brand spanking new and it will be ours and that in itself is definitely very exciting!

And here's the floor plan of our little townhouse...

As you can see, it's not huge but it does give us enough space for 2 little sisters and perhaps a housemate if we choose to go down that path....
The great part about this is how well it has worked out for us at the moment. The location is almost perfect, in a very up and coming area of the west, it's close to a number of shopping precincts, 2 train stations, the buses that run there stop right where my office is so that means I won't need to catch those blasted trams anymore, brilliant! And we scored it for a great price. Yes, I am well aware that most home buyers tend to believe that they got their house for a great price but we actually did, we really honestly got it for a great price... now, I just hope that this bargain price doesn't mean that we traded quality for it.

So far the developer has been easy to deal with and have been prompt in their responses to me, but I guess the real test will be when they start building. Hopefully it all starts on time, estimated to be around March 2010....

So quick update:
Viewed block and display home - 29/11/2009
Chosen lot number - 01/12/2009
Contracts signed (house & land) - 02/12/2009
Unconditional approval from bank - 22/12/2009
Deposit made - 23/12/2009
Mortgage contract signed - ?
Land settlement - ~19/01/2010
Building begins - ~March 2010


I've started a bad habit of reading house building blogs and it is really beginning to scare me, especially as some of the older boys at work who has gone through the process has some awful frightening stories to tell.... if anybody is not made to build a house, it is I - I'm terrible and I will be terrible at it.... what if it all goes pear-shaped?!
We're screwed then.

Hold on, I have worked so hard this year to be of positive mind, I cannot let this little thing such as building a new house get me back into the black abyss I was in not so long ago. No way! Everything will be perfect, it will be fine and I will have a lovely little townhouse to move into this time next year cos everything will go according to plan.

:)

Be of positive mind!

So after a rather slow yet also quite fast few weeks that have past since we signed the contracts, a number of things have happened...

1. our champion mortgage broker, Nick, has been working tirelessly to get things done for us before the Christmas/ New Year's break and all things stop working. Yes, I know I know I know, he's getting paid to do it and it's all part of his job but still - I appreciate all that he's done for us so far.

2. Nick has kept us informed and updated all the way with what was happening. The valuators for some reason had trouble accessing the site so their report to the bank was delayed which meant we didn't get our finance approval on time to pay the deposit which meant we had to get an extension on the finance clause.....

3. Paul, our legal dude, has also been wonderful and super efficient and prompt with all the questions we had for him (and boy did we have lots!)

4. So, 3 days before Christmas, we finally get the thumbs up from the bank and that means now I have to frantically arrange the dosh so that I can draw a cheque and give it to Big Daddy so that he can pass it onto the real estate agent peeps - all the while I still have a busy schedule ahead at work, particularly winding up and finalising things for the year.... *sigh* busy busy busy

5. I thought I was on top of it all, I contacted Nick, I contacted Paul, I even contacted Paul's legal clerk, and I contacted the Sis and I yelped and wahoo'ed with joy at work.... all the while, completely forgetting that I actually have 2 deposits to make tomorrow. I need to make a deposit for the land and for the building... and what d'ya know, of course I forget one! Major d'oh! I cannot believe that I completely forgot about the building contract. Well, let's just say me Bro came to the rescue *phew*
Otherwise, I would've had to dust off my acting skills and play dumb... "oops, I'm terribly sorry! I just forgot...."

6. Just gotta wait for the transfer to come through tomorrow morning so that I can pop down to the bank to draw the cheque and then I breathe a bit for the Christmas break. Thank goodness!

Wait for the next instalment... due mid-Jan 2010.

4 December 2009

Early morning negotiations with the real estate agent dude to discuss possible amendment of said troublesome clause...

The clause effectively meant that should there be any delays in the start of the building process, the builder has the right to increase the price of the building by 1% per month, and if the delay was dragged on for years, it could be a costly exercise for us. As you can see, it is a very unfair cause because I have absolutely no control over when the building can begin, that part of the process is completely in the hands of others, (particularly, the local council and we all know they can take years making a decision) so I find it hugely disgusting that I will be penalised for something that I have absolutely no control over.

Fortunately, the vendors were happy to strike the clause out completely!
Woo hoo, RESULT!
That was definitely the best possible outcome for us at this point.
They have agreed that it will be a fixed cost building.

Huge sigh of relief and the plans are still going ahead!
Thank goodness.

Now, just waiting on finance to come through *fingers crossed*

1 December 2009

Miss L and I finally found the potential home that we might like to own, unfortunately it wasn't yet built.... but, at the right price, right location and right size, we were happy to sink ourselves into massive debt for a year that we know will be full of stress and difficulty.

The papers have been signed!

and the immediate reactions we experienced was:

Oh no, massive regret and cold feet.
What on earth have we got ourselves into??

A mad scurry to find a suitable solicitor to look over the fineprint and we were off!

The good legal mind behind us was so fantabulous that he got back to us within hours with a long list of potential issues in the contract.....

oh-kay.... point by point we two ladies go through each and weigh up the potential consequences to us in the future.
We find one freakin' big problem with a clause that will do us a lot of no good if things turned pear-shaped (as they tend to do if problematic clause was not addressed).

Shit, what do we do now?
Do we pull out? Do we try to change the clause? Can we remove it altogether?
Questions questions questions...
I don't have time for such important issues!