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Enrique Blog Part 2

Making it Real: Part 2

This is really going to happen!  Just thinking about the day when we move into our new home makes us so emotional.
A few days ago, along with our agent and check book in hand, we went to our appointment with the builder to select our desired lot and home plan.  Before our appointment, we walked over to the lot we liked and took our time evaluating it.  We looked at where the sun would point during different times of the day.  And upon a closer look, we realized that this lot had a pie shape opening, wider toward the back of the house with a beautiful natural conservation area.  All of us immediately imagined ourselves sitting in the backyard appreciating the beauty of nature.  Just the fact that we would get a premium lot, and that we would never have anything built behind our house, was enough for us to decide that this was the one!  We then drove over to the sales center down the street for our appointment.

We found out that the permits to build new construction in Orlando were taking about four months. We were lucky that the model we wanted had already been permitted and were able to start construction within 30 days.  This would put us to into a September/October closing, precisely at the end of our lease where we are renting.  This is extraordinary!

At the appointment, we asked some standard questions.  Our seasoned real estate agent was also able to ask a lot of questions as well, some we had never really even considered.  Having lived through several hurricanes, we made sure to ask if the home was in a flood zone, which we knew would affect our insurance rates.  Thankfully, it wasn’t.  Our agent asked some good questions about discounts and credits.  We found out the builder would give us a $7,500 credit toward upgrades, and $3,500 for closing costs if we applied for a loan with their preferred lender—even if we decided to go with a different lender!  Of course, we took advantage of that.  At this meeting, we also found out there was a Homeowners Association, and that gave us some peace of mind that there will be rules for upkeep of homes and public areas.

The builder’s sales rep was very transparent, able to provide all the answers to help us make the right decision.  Our agent took a copy of the contract and read each paragraph as we reviewed it with the sales rep, often describing or explaining something within it that we should be aware.  We quickly realized that builder contracts favor the builder greatly but felt relieved knowing that our agent was there to bring up anything questionable.

We signed the contract, initialed every single page while going through all the details, and wrote a check for the initial deposit that would hold our lot and home.  This builder required a 5% minimum down payment.  We are to provide a balance in a few days.

You cannot imagine how happy and reassured we were to have signed a contract on what will be our next dream home.  To celebrate the special occasion, we drove back to the lot and took a picture showing our new patch of land, and where someday soon our home will be.

We are visiting the design center on April 12, stay tuned for the details.