Friday, 24 May 2013

Got Bank approval

We got our conditional bank approval today. Off to sign contracts with Wisdom tomorrow. This all starting to feel like a reality now.

Monday, 20 May 2013

Waiting for Bank Approval

We purchased our house in Sydney's northern suburbs over 8 years ago with a plan to knockdown rebuild within 5-10 years. So here we are about to embark on the building journey.

We started searching for our dream house early last year. It took us over 6 months of visiting numerous display villages, and bribing very bored children with much junk food, before we finally picked one.  

The Wisdom Trinity 33 was a good choice for us as it is not a very deep home, and we wanted to retain as much of our back yard as possible four our 2 human kids, and also our canine kid, who being a kelpie cross labrador needs a bit of space to run around.

We are currently in the admin stage with Wisdom, which seems tediously slow. The initial $1500 deposit was paid back in November. We made a lot of alterations to the floor plans, and every time you make any changes, it takes Wisdom 2 weeks to for the change to go through their estimating and drafting  departments. But you need to get everything correct upfront so your final tender price is as close to accurate as possible, especially if you are applying to the bank for a loan. Banks don't like you going back to them for more money if you run out later during the build. 

So today we had the valuer appointed by our bank to put a value on our land combined with the new house. Fingers crossed that we can avoid mortgage insurance. Once we have that bank approval we can sign our contract with Wisdom. Very scary but very exciting.

I have attached some images of our plans.