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There hasn’t been an update here for a good while. That’s not totally indicative of a lack of progress on the project. It’s more that I didn’t expect people to be vastly interested in updates along the lines of “we met with the architect and moved the closet wall six inches north in the guest bedroom” or whatever.

But, what you may (rightly) infer from that is that we have finished our plans. [SFX: Hallelujah Chorus]

We have not been hurrying this process along at all, and there are several reasons behind that. I won’t go into all of them right here. But we’ve also started the process of soliciting bids from builders. And miraculously, it seems to be going well.

The other really fantastic thing that happened is the interest rate dropped again. We were able to lock in for 120 days an interest rate of 5.75% for our construction loan, which will convert to a first mortgage at that rate at the end of the construction phase of the project. That quarter-point really added significant buying power.

But the real difference is that I’m in a position now to actually pull the trigger whenever I feel like it. We have at least one builder who will build the house we want at the price we want, so now we’re trying to do due diligence and check out the other options before we commit. One way or the other, expect the updates to resume, and check back often to see how the project is going.

This entry was posted on Monday, March 17th, 2003 at 9:21 am and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.