Feeling kinda perky

So Dawn called me all excited this morning--she got the results from the perk test. Turns out it did perk for a 4-bedroom house.

Phew. One small thing out of the way. Now we're sending in the surveyor.


Current Costs
---------------------
Building Your Own Home For Dummies - $19.95
Perk test - $350
Survey - tbd (estimated at $2000)
Plat - tbd

Got the plans

So the architect sent us three drafts of the first floor. I printed them out, though unfortunately on a single sheet of A4 paper a lot of the detail (read: fine print) was hard to read. Dawn looked at one and had several comments, unfortunately, but I don't think she noticed there were subtle differences in all three.

We also had a list of 4 or 5 questions to answer, such as garage doors--front or side. We'll get those ironed out, but Dawn has some much more specific feedback that I do.

Also we got an estimate from the surveyor. It will be "roughly $2,000" for the survey, so it's probably based on acreage more than anything. We know some of the property markers are already there, but I guess that doesn't matter much.

The surveyor mentioned also that he has some experience with land in that area, and that he knows some property owners around there have had problems perking. That means more money, potentially, if we have to keep poking around. Further back, the further the power has to go, more area to clear, more to gravel for the driveway, etc.


Current Costs
---------------------
Building Your Own Home For Dummies - $19.95
Perk test - $350
Survey - tbd (estimated at $2000)
Plat - tbd

Any "perks" to building a home?

So Dawn went and submitted the paperwork for the perk test, and you'll see the running cost at the bottom updated as such. The cost in our county is $350 per site (though they generally poke several holes in the general area).

We're so close to the county line that we could almost throw a rock into the next county. Their cost for a perk test? $50.

Man, we got ripped off!



Current Costs
---------------------
Building Your Own Home For Dummies - $19.95
Perk test - $350
Survey - tbd
Plat - tbd

How much does all this cost?

I also thought it fun to keep track of the monetary costs associated with this headache. Obviously I cannot count time (despite the "time is money" adage), gas money for traveling, or anything like that. Needless to say this has been something in the back of our minds for a while. There is no way to account for the magazine subscriptions, time looking at house plans online, etc.

So, to start it off--

Costs
---------------------
Building Your Own Home For Dummies - $19.95
Perk test - tbd
Survey - tbd
Plat - tbd

Adventures at the bank

So Dawn went by the bank yesterday and spoke with the loan officer we missed on Monday. According to the notes, they only do 15-year land loans, which is fine since we are planning on breaking ground in about a year anyway. The bank requires 25% of the loan amount as a down payment, but we have that covered already.

The way it works is that whatever is left from the land loan will be rolled into the construction loan. The down payment for the land loan and any amount paid into it goes toward the down payment on the construction loan. Of course, the total amount will be greater than just the land loan itself, so will we have to pay PMI on the construction loan? No idea.

Dawn also found out that there was a catch. Of the 19.5-acres, only 10 of that can be financed into the construction loan. That implies that since that's about half of the total land amount then we have to pay about half of the land loan amount. Confused? I am too, a little.

We haven't applied for the loan yet since I was not available to go in, and Dawn still needs a paystub and all that fun stuff.

She also went by the health department and got an application for the perk test. The confusing part is that the perk test form also includes the permits for a number of things--building permit itself, the well, etc.

So in bold black letters the form states that a plat is required for the form to be considered complete. There are no ambiguities on the form. However, the person with whom Dawn spoke said you did not need a plat for a perk test.

So why not use a separate, less muddy form?

But as I mentioned in a previous post, we have to have the land surveyed before we can get a plat. I think the surveyor--who hasn't come back with a quote yet--is waiting to get permission from the owner. Shouldn't be a problem, it's just a matter of making contact with him at this point.

What the heck is a plat anyway?

So Dawn and I were going to go by the bank this morning, but the loan agent that Dawn spoke with last week was out of the office. So, we'll go down that road next week.

While I was in town Dawn wanted me to go by the Register of Deeds to get a plat for, well, I'm not 100% sure anymore. Maybe it's for the land loan, maybe it's for a perk test, maybe it's for something else. I'm not sure.

Confession, even though I have Building Your Own Home for Dummies, maybe I need something for children.

So anyway, I go by the Deeds office and give them the parcel information. They have no registered survey. Well, they do have a record of one from 1942, but I'm pretty sure that won't count. And since there is no recent survey there is no plat.

So... we will have to pay for a survey now. Dawn has the name of a "good surveyor" (apparently there is a shortage of good ones out there so he deserved the adjective) from her uncle. Dawn called him and he will work up a quote. That translates to "this won't be cheap".

And off we go...

Before I get started, a prediction that I hope we can wrap up and say is true. By the time all is said and done, I hope to be able to say "It was a long road, but we have fulfilled our part of the American dream." Let's see how it goes between now and then.

We have had our eye on some land for several years, and have looked at several plots as time allowed.

One of the factors is the amount--my wife, Dawn, wanted 50-acres originally. Kinda hard to come up with that amount that is not out too far for both of us to drive. The idea was that the kids would want to grow up and build around us. I don't see that happening, but Dawn is an optimist.

We had looked at one plot in person with a real estate agent. I vaguely recall liking it, but maybe it's because we came across it soon after we decided to start looking. I do remember there was a crest where the home would naturally go, and gently sloped downward only to get more steep, finally ending at a small creek.

Then there was another where the owner was going to split it up into two plots. We had gone so far as to put in an offer on both plots combined, but someone beat us to half of it. Then at some point the real estate agent we were dealing with left to be a full-time Boy Scout or something like that.

So fast forward maybe a year, and an acquaintance of my mother-in-law's (let's call him "Bill") had nearly 20-acres he was wanting to sell. He had never developed it save for a small section cleared off for hunting. It is all wooded and a good shape, meaning no irregular or puzzle-like borders. Soon after that we went out and walked the land ourselves. This was nearly two-years ago.

In the meantime we went out a few times to look at other properties, hitting as many as 7 or 8 properties in a day, in an effort to find the right spot for our home. We found a couple that we liked. For whatever reason we sort of stalled on it, then interest was renewed again just recently in Bill's land.

So we went out with Bill maybe 6-weeks ago and walked the land. It was always in the back of Dawn's mind, so we decided we would go ahead and try buying the land from Bill. We got an amount from him that was reasonable, and a good amount of time to come up with the money.

A few weeks ago we also met with an architect (let's call him Frank) over lunch at Bull City Burgers, where they have these rows of tables so you can spread out. And a great pale ale. We sprung our master idea on Frank who took a ton of notes--concepts, pictures cut out of magazines, some general things. For instance, Dawn wants an indoor slide to go from the playroom down to the main floor. You know, things that all families have...

Anyway, we are going to the bank this morning to see about getting a loan.

I'll check in soon to report on how that went.

Stay tuned!