My New Construction Update

A few weeks ago, I had faced my housing crisis of 2012.  We had a meeting with our agent to try and resolve this.  My wife and I went in with guns blazing.  “We were told numerous times that our model and design selection can’t be the same as neighboring homes, but not once did we hear about left or right.”  Our agent heard our complaint and asked what we wanted to do because they want all buyers to be happy.  She offered up three new lots with our model in a right configuration.

Right off the bat we eliminated two as their locations weren’t to our liking.  We walked up to the final location and it was in an elevated corner.  Three things worked against us.  Base prices have all jumped up and her manager could not give us our original starting price.  Second, there was an additional lot premium due to the sweet elevated corner location.  Finally there was a boatload of upgrades already installed which we would be on the hook for.  We decided to reexamine our original selection.

Excluding the left right mix up, I was quite pleased.  My wife also warmed up to our nearly finished new home as we’ve been waiting for months to move into a bigger place especially with Baby Buck and all his belongings. We toured the entire home and reviewed our financial consequence if we walked away.  We would lose our initial deposit.  We would lose our below 4 percent, 30 year fixed interest rate and finally we would say goodbye to tens of thousands in equity gain.  I don’t know what’s going on with the housing market, but with all things considered, we’re moving forward with our new home and hoping for the best.

What do you think about the housing market and are you taking advantage of the historically low interest rates?

Stay Inspired!
Buck

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4 Responses

  1. krantcents says:

    The market is starting to heat up. Housing (<$500K) is getting multiple bids and selling for more than list. Right or left is something you can get used to.

  2. Arlee Bird says:

    Staying with the original place sounds best to me. You all shouldn’t have much problem with the reverse layout once you get in there and start getting used to it.

    This morning I was talking with my daughter who is a real estate agent in New Jersey. She was thrilled that she had just closed a deal on a lot with a mobile home. Since Sandy struck she says people are hesitant to buy homes until they see what they are going to get for their damaged ones so things have been kind of dead lately. She said most everyone is looking for rentals there right now. I imagine she’ll have a boom coming in the upcoming months after clean up is finished and homes are rebuilt. I hope so. I’d like to see her hit the real estate mother lode.

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