Still waiting on loan approval

They say no news is good news.  I assume that came from the internet, and the internet is always right!  Technically, it's not a case of "no news", just limited movement.  We've been in contact with the Loan Officer (LO) and the Loan Processor (LP), who have both been easy to reach and provided feedback on the process.

By my count, 996 out of the required 1,000 (exaggeration) documents have been submitted and we're only waiting on the last 4, before the LP feels comfortable passing the documents to the Underwriter.

Image Courtesy of: http://parksihoo4u.com

So far, my experience working with NVR mortgage has been fairly positive, especially our LP, Eboni. Our LO has been clear on what he thinks we need and where we are, and I appreciate that as well. Sooo...definitely a lull in news or posts, as we head into this holiday weekend.  I'm so excited, that I'm sure I'll find some random ways to make a new post or two and spill out some of this anxiety!

Big Backyards

Since being sold on "3 acres", I've been pondering: What do people do with BIG backyards?

Sort of like this guy, but you know, less mathy!

It's my understanding that our patio door (the one leading out of the morning room) will be about 2-3 feet off the ground (which consequently forced us to get a welled egress from the basement, instead of a walkout basement).  Growing up where I did, I am accustomed to 0.25-0.333 acre lots.  My last home's lot size was around that, with essentially enough to have a deck, a little playground, and enough room left over for a reasonable sized basketball hoop.

Something along the lines of this

This time around though, I'm thinking:

• Basketball court
• Deck
• Stone patio
• ...*Draws blank*

Because I'm an avid basketball fan, and amateur player (whenever time permits), I want a real court. Ultimately, I'd love to put a half-court in the yard somewhere. 

Dream court!

And then maybe a deck (which RH charges about $45-48 per sq. ft)

Maybe not this elaborate...but hey, dream big right?

And of course, the stone patio idea:

Not exactly like this, but close enough

It's after the stone patio, where I begin to draw blanks.  Does anyone have other thoughts or ideas on what to do with a large yard space?  I've done some Pinterest searching, and I've come up with:

• Pool
• Garden
• Shed
• Playground
• Fountain

Anything else?  

Well water

Being "city clickers", one of the major things that we had to accept and will need to adjust to with our new home, is the dependence on well water.  This will be a huge leap from city systems, to a home with 3 acres of land and well water!  When our SR first mentioned that our development would rely on it, I was so caught up in the euphoria that I thought, no biggie! How different can it be? After all, it's not like we're bathing in it or drinking it, right?

The good ole (new) Griswolds

Wrong, dummy! That's actually exactly what we're doing.  And oh, by the way, well water also requires a "septic system"...another foreign concept to me, the city slicker.

Because it's the 21st century, and the entire community is using it, then I've kind of rationalized, "hey, how bad can this be?  Man developed and mastered this technology years ago right?"

Me man! Me get water from earth!

Rightfully so, everyone else around me who I've mentioned this to, from my father to Ashley cautions "pump your brakes Walt!  This will require a life-style adjustment".  To which I internally respond "How so?" And the first answer I hear is: "Wells, can run dry!"

I immediately envision:

Could this be us in a few months or years??

Now that I'm actually listening, I've begun asking co-workers, friends, the good ole internet: What do I need to know about well water (and septic systems)???

Anyone with experience? 

Dream (basement) deferred...

After a lot of discussion and hand-wringing, Ashley and I decided to remove the finished basement. In our plan since Day 1, at a whopping $31K, it wound up being the only major ticket item we could finish later.

It felt like going from

Dream

To...

Reality

Ultimately, it made the most financial sense (can you hear me talking myself into giving up on the man cave dream?) to postpone that element of the dream home until a later date, and remain within budget.

Part of the problem was when we initially priced the house and got our Good Faith Estimate, we hadn't been to the other appointments (Design Center and Guardian).  Additionally, we overlooked two big ticket items: a walkout egress (~ $7K) and the Roman shower option ($1K) in the Master Bathroom.  So, with those additions, and other appointments, the basement was the easiest and most cost-effective casualty.

In hindsight, we probably would have budgeted differently and allotted enough money for a finished basement.  In particular, our elevation and hip roof was a big cost item (~ $27K) by itself.

Yet, the proverbial glass is half-full.  Thanks in part due to some other home bloggers who have shown pics of them finishing their basement, we feel confident that it's something we can and will do together (minus the drywall labor).  With careful planning, it won't be nearly as costly as RH quoted (though in all fairness, their estimate appears to be in the neighborhood of $30/sq. ft, which is what my amateur internet surfing says is about right)

The Guardian (low-voltage wiring) appointment

Our Guardian appointment was with the HS Technology group, who are in responsible for helping you decide on the wiring for your new homes' audio, networking, cable, and security needs.
As an electrical engineer, I stem from a breed of folk who tend to be O.C.D. about, well, electricity and wiring, IT, and home networks, etc.. I'm also (no surprise) a gamer (when life allows), and to that extent, so is my youngest son.

Between us two heavy internet users, along with the world of streaming, and two plus other people in the house, let's just say I had specific ideas on how we'd set up our dream home and man cave for optimal efficiency! After reading other bloggers' posts about the Guardian appointment and their experience, I had somewhat of an idea of what to expect and what they actually could and would do.

So while I sort of was hoping for them to help me achieve something like this:

What I thought of when envisioning the Guardian appointment

At the end of the appointment, it turned out to be something more along the lines of this:

Much better idea then what I had in mind, and way more cost efficient

As mentioned, I'd be as transparent as possible with prices, and thus here's a link to the pamphlet that was sent to me: Ryan Homes: Low-voltage pricing

In an ideal world, with unlimited money, I would have had HST do a lot more. After all, they showed us a room they've done that looks like this:

It's actually more impressive in person

That's not to mention what's in store when you walk into their bathroom (also, equally impressive!!!).

Well, we went into the meeting with somewhat of a very reasonable budget and idea of what we wanted to do in each of the 4 major categories as we saw them:

1. TV placement
2. Home Audio
3. Networking
4. Home Security

After arriving at our appointment, we were greeted by Paul, who was, fantastic as a consultant. If there was a rating sheet or survey for him, he'd get a 10/10. No pushiness. Nice order and flow to helping him walk through each of the major categories. And he took the time to explain what can and can't be done, including an extended tutorial of helping Ashley visualize where the wires went when it came to TV mounting!

Ashely before meeting with Paul

When it was all said and done, due to budgetary constraints, we selected the following:

• 2 HDTV pre-wires (family room and master bedroom)
• 3  CAT6 outlets
• 6 RG6 (cable) outlets (1 for each bedroom and one for the family room)
• 1 pair of speakers in the family room
• 1 pair of speakers in the kitchen

The rationale behind our selections went something like:

• Let's get the TV mounted over the fireplace in the family room and master bedroom. In my mind, we're just paying them to hide the cords. In the other rooms, we'll just have to be clever about TV and wire placement.
• CAT6 outlets in the family room, master bedroom, and living room (which will become my study)
• Cable outlets in each room
• Since we wanted speakers (or at least the wiring) in the family room, it made sense to also get speakers in the kitchen so people (and the morning room I suppose) don't or won't have to ear hustle to hear what's going coming out of the family room speakers!
• Editors note: I think, We elected to have the router placed in the basement as a central location from which we can route the LAN cables to the family room, MBR, and office. I just can't remember if it's there in the basement, or upstairs in the living room (office)

We left the meeting under budget, and feeling good about our selections. I need to clear one or two things up (such as where exactly did I have the router placed?) and whether we get in wall/ceiling speakers. However, those are things that can be addressed at pre-drywall!

Models. Inspiration. And Disaster Averted!

First, the disaster averted part...

At this stage, say, 8 or so days in, thanks to our SR, we've selected most of the options and things we think we want in our new home.  The thing is, in our particular development, the only model is a Jefferson Square--which to be completely honest, doesn't have enough in common with our Avalon to give us the warm and fuzzies.  Since we wanted to visit an actual model, 90 minutes away, we decided to combine the visit with a trip to Washington, D.C. since we'd be roughly half way.  Why not drive the extra 45 minutes to see the model in person?

It's here, with the keyword: model, where the author of this post almost went astray.  Simply because my original thought was to put a picture of a "model", somewhere here in this post, just plastered all big and bold.  And then when Ashley saw it, I'm sure her first thought wasn't going to be: How clever Walter!! So instead, I'll put a pic of us from DC instead.

My real muse and only model I need!

Now that I'm done avoiding that near blunder, and hopefully earning some brownie points...back to our model visit.

I've got literally dozens of photos of the model and it's various rooms from a variety of angles.  Rather then link them all here, I'll just publish the photo album and folk can view as they see fit. After all, a good bit of the model pics are available via RH's Ryan Homes Avalon Model website.

I will take this opportunity to point out some of the things we learned from visiting that model, beginning with the kitchen island. 

Inspiration Kitchen - NOT a Ryan Homes model

Avalon Model kitchen

Overall, not too shabby!

Moving on, the second, major feature that we fell in love with from the original home was it's walk-in closest, that became available if you selected the 3 car side loading garage.  Unfortunately, and probably for the best, I couldn't find any pics of that home's walk-in closet.  But trust me, it was cavernous-almost to the point of disgust!

The best I can do is post a pic of the floor plan and state that the "Walk-in closet" portion, extends over the 3 car garage, same as the Avalon. But it's ceilings are not slanted, and there's this like, entire bedroom area before you even get to the part that is over the 3 car garage!  We contemplated leasing out that space alone, sort of like Air B&B!!!

Dream Closet

Avalon Closet

Ok, so no more crying over spilled milk I guess.  These are first world complaints, griping over kitchens and walk-in closets! So I shall stop.  I'm just saying...

Ryan Homes Avalon closet

After taking a lot of super redundant pictures, we sat down and wrote a list of questions to ask our SR upon return to MD, such as:

• Will our selected trim look like the models?
• How many recessed lights are included in the kitchen?
• What flooring and cabinet choices come in the mudroom?

And a bunch of other things that were really, just stuff we wanted to keep in mind.  Such as: what size area rugs do we want, and how many will we need?  Should we add windows to the living room? And so forth.

It would have been nice if the SR on site had time to answer any of our questions (or the telephone when we called to ask if the model was indeed open that day...). However, our local SR back in MD accepted our e-mailed list of questions and responded back with answers to all of them!

Next-up, design center!!!

To Approve, or not to Approve? That tis' the question. (NVR Mortgage)

At this point, we've signed papers, made a $5K deposit, and are set on building our new home with Ryan Homes.  Probably like you, we've read all the horror stories and gripes associated with using NVR Mortgage--and proceeded with them as our lender anyway.  For a brief listing of some of them, simply refer below:

• Nightmares
• A fellow Avalon builder: They've Had it With NVR Mortgage
• And the list goes on unfortunately: Older complaints, but still valid complaints

The last thing we wanted was to get all worked up (easy for my fiancé to do), put down a good chunk of earnest money, and then get the run around by NVRM.




So it was with some trepidation that we met with our NVRM loan originator, about 5 days after signing our initial contract paperwork. *A last minute meeting cancellation and a mix-up in loan application paperwork didn't exactly set us at ease either* 

Both Ashley and I had bought homes before, and while we weren't stunned by the amount of paperwork involved, it's still a not so subtle reminder how invasive and thorough the process can be.  But hey, since neither of us had a half million dollars stuffed under the mattress, we recognized the need for thoroughness and happily obliged.

Yes. Loan approval feels like  people, poking and peering into one person's body

To start things off, our loan originator sent us an e-mail detailing the paperwork needed to get the ball rolling.  For those interested, here's a decent explanation of the mortgage process, as described by NVRM.  Here's a flow chart though, for those who like visuals.



Courtesy of: http://www.bankerbroker.com/loan-process-flow-chart

Back to our initial meeting...and honestly, so far so good.  Granted, it's only been 5 days since our LO requested all the necessary loan docs.  Already, our initial loan processor (LP) has been in contact with us a few times to ensure that we provide the proper documents, in efforts to make sure that the crucial part (underwriting, aka, the people who actually approve the loan), goes as smoothly as possible.

This may or may not be where underwriting takes place (probably not though)

So now, we still owe NVRM a few documents that, unfortunately, we have to rely on other people to provide (updated distribution statements, etc.,).  However, both our LO and LP are fairly confident that after we provide them, the rest of the journey will be smooth sailing.  We shall see...

Choosing a site

I've already spoken a little (or a lot, depending on your perspective) about how this journey began, and for context, that can be found here.  When our search began, we had a few lot sizes to choose from.  I'll take pictures of the various lots soon, and post them to the site.

There were a few requirements we had for our home, and lot size was one of the most important.  Our ideal lot was 1/2 to 1 acre, but while we were open to larger lots, we definitely did not want a lot smaller than 1/2 acre. 
Another factor for lot selection was location within the community.  We didn't want to be at the front of the community, nor at the back.  We hope that a location in the center of the community would allow us to mingle with neighbors, and present better opportunities for socializing.  Ultimately, one look at the blog name and you can guess which one we chose :).



Lucky 13

As mentioned in the previous post, our Sales Representative (SR), showed us the two lots available, as Ryan Homes' policy for this development was to only release two sites at once--for whatever reason (maybe permits or something...who knows).

Lot 1was about 2 acres, which was cool.   It's located on a corner lot at the intersection of a low-traffic road (in the sense that it's a dead end), which I was actually OK with.  However, our major issue was the pond located at the rear of the lot.  And while my SR thought it could make for some interesting times for the kids (I agreed--but not interesting in the good way), I was more concerned about standing water, bugs, and mosquitos--thanks to my fiancé's irrational fear of the Zika virus.  Not only did the pond seem less than desirable, it felt like it limited lot usage to 60%.

Pre-existing structure (barn and house obscured by trees)



I've mastered paint shop!!

I admittedly just got carried away with google earth and paint shop.  However, that's a pretty rough idea of how Lot 1 was placed, relative to Lot 2 (which was not available yet) and the pond, barn on the other side of Lot 2, which you can see.

Okay, so that's enough talk about a site we didn't even choose! Now on to good ole LOT 13.  Full disclosure, I was not totally in love with the lot at first site (see what I did there?).  Mainly because it was so much land (3 acres) and I was worried that due to positioning, most of the yard would be side yard, which wasn't ideal for gatherings (cookouts) or privacy in general.  However, after taking a look at it a second time, when our SR could actually mark off where and how much our yard would be, I quickly grew to appreciate the site more.

The Pressure: The decision between Lots 1 and 13 was primarily driven by the fact that these lots did not have a premium (Extra money paid on top of base price of home for the location of the land).  The SR told us that after these lots sold, all future homes in the community would have lot premiums, ranging from $20-$40K.  It's not like this information was presented in writing, so we had to go with our gut.  We certainly felt good about the site, since it was a corner site backing to trees, and our nearest neighbors are about and acre away on each side...literally.  Thus, LOT 13 IT IS!

I'll update these pictures shortly, but in the interim, here's what I have for good ole lot 13!

That's my scientific estimation of our lot size. That's about 3 acres right??

Right now, there's just mainly pictures of dirt and dirt and more dirt. But I'll upload more pics as time goes on.