On Sunday we submitted our final custom variations with Beechwood Homes (BH).
For those of you who don't know, a tender is basically an itemised list of what things will be included in your build, similar to an invoice, with pricing for each item.
It also gives you a total which helps when you want to get an accurate pre approval from your lender, if borrowing money.
This is our 4th tender because we changed a few things and had a bit of a drama.
Our BH rep told us we would get it back on the following Sunday.
I got a phone call on Wednesday afternoon.
Umm.. what?! 3 days. You legends!
So we're super happy with our tender and the overall price we're currently looking at, but there are things that could arise so we're not treating that like a firm figure. We are going to request a $10,000 buffer from the bank in the event that we have any issues or decide on any upgrades. If we don't use it, it goes back onto the loan.
Our next steps are:
● Pay the $5,500 deposit to BH - once you do this, BH can begin the long process of preparing for the build and conversing with council to have the build approved.
● Refinance our land loan - we can get a better rate through a different lender so we will refi our land through them and apply for pre approval on the construction loan at the same time so that we aren't locked in to a bank who won't loan us the full amount.
● Deforest - our block has a bunch of trees and undergrowth we need to get rid of. I'd hate for that to hold up the build
Thanks for following along with our journey,
Sheridan
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