Monday, February 16, 2009

And So It Begins.....

Hey

In early January I went with a good mate Mike (bigred) to Pakenham to look at display homes. I went just for a look with no intention a month later I would be paying deposits and applying for a loan for my first house.

After visiting the display homes in Pakenham and Lyndurst I made the decision to sign my life away and purchase a house and land package. My girlfriend Georgie is comming along for the ride (somebody has to pick the colours lol) but the house will be solely in my name and funded for myself.



We originally were looking at land in Lyndurst, as it was closer to the city. But we came across some information about a toxic waste dump being close by. This did not sit well with me so I started looking at land in Pakenham.
The added bonus was land was cheaper so I could afford a larger house.


The Land
After multiple emails and visiting estates I found a great block in the Henty Park Estate at a fantastic price. Even better Porter Davis were able to fix the site costs on this land. But there is a catch (I am unsure if this will be good or bad). Mike will be literally be around the corner from us lol.


The land will not be titled until July - August so they wont start building at least until August September. But I'm not too fussed how long it will take to build, as long as they do it properly :).

Yesterday. Sunday 15th February at 1pm I paid $500 to the estate agent and signed the land contract subject to finance.

This was when it felt real. As i was driving home I thought to myself "Sh1t, I own land".

The sales manager George was most helpful and explained everything in detail. He also held the land for a couple of days until I could make it in on Sunday.

I purchased lot 888 which has a 16m Frontage and is 528m2.

The House
We have made the decision after looking at countless display homes multiple times that the Porter Davis - Stanford is the best house to suit us. Georgie and Myself looked at a couple of other designs such as the Regent and Flagstaff IV too. I have read mixed reviews about Porter Davis, but I imagine all volume builders have the same type of issues. Our sales consultants at Lyndhurst have been the most helpfully and the Stanford is the best house to suit us.



We have visited the display home multiple times and visited the PD interiors showroom. We are only making a couple of modifications to the plan. E.G. Alfresco and Kitchen Cupboards. I am also tossing up if I should raise the ceilings. It depends on the extra cost as i imagine it wont be cheap 2k+.

I will be putting my $1000 down with Porter Davis in the next couple of days.

So what happens from here. I should hear back from my broker regarding the Loan Approval Status in the next 3 or 4 days (This is the stressful bit so far). The Conveyancer is now organised and all contracts are being forwarded to them for review. I also have to visit Porter Davis and get things rolling. I will update my blog as soon as I find out any progress.

Stay Tuned....

3 comments:

  1. Jimmy,

    There's never a bad thing about living ~163M away from my joint. That's right buddy, I calculated it! It's just a shame none of us have a porch for our rocking chairs and the esky. :-)

    In regards to the higher ceilings, it will be probably be greater than $2000. The only reason I'm doing going for the higher ceilings is it'll make the house look larger in size, kind of important when the house size is relatively small. I think I worked out that, 33% of my land is covered by the house. Although this isn't great, it's still good. The idea is to have more than 35% of your land still available for use.

    As for your excitement of realising you own land, wait until you pay the remainder, you'll drive home thinking "Shit, I own land, but I'm balls deep in debt!"

    Building won't begin until September from what I can tell, and the builders won't have it done before Christmas, so with the Christmas break, your house will probably be completed to walk in around February.

    I noticed you said the stressful part being the broker, sadly this was the same for me. The builders and realtors have been the easy part surprisingly.

    You should bring yourself the homeone.com.au forums and share your blog :-)

    Cheers,

    bigred

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  2. B...z aka James,

    Sounds good man. I am, to, excited for you. I am finding out that everything thats good is extra, higher cielings, benchtops, doors, fittings, and even driveway wtf! lol etc etc etc Anyway I can't wait till i am on the rolling ball of buying my first home :) and being, as bigred describes it, balls deep in debt :)

    Cheers

    Chiefs chief aka Huddo.

    ReplyDelete
  3. Huddo.. Thats all the fun stuf. Add an extra 50k on to your base price atleast. Lucky for us Porter Davis have been great and alot of our extras have been included as a promotion.

    When are you looking at building?? And where.. Jump on a block in between me and Mike.. Just think of the convinance lol.

    Cheers

    ReplyDelete