On Sunday, we signed our new home contracts with Metricon. This is official part of building a house where you sign and initial dozens of pages that absolutely confirm we’re doing this. Not scary, just exciting.
The contract signing took around an hour and a half and that timeframe may seem like a long time, but it actually passed quickly.
A large part of the signing was signing 4 copies of the contract, all 108 pages of it.
- A copy for Metricon
- A backup for auditing
- A copy for the bank
- Our copy.
The first 50 or 60 pages were building contract stuff, detailing who’s responsibility it is for each part of the process. The middle section (10-20) was the list of customisations and options we’d made to the house.
After looking at the list, it is extensive and given the extra $$ we’re paying as a result of our selections, it’d better be a long list 🙂
Ultimately the contracts are about committing to the build and that’s now done, a major milestone in our lives and the process. The next step is to sign a variation that confirms all our modifications those since Studio M that we’ve had time to reflect on and reconsider. Even on the day we decided to add back the water tap behind the fridge in preparation for an ice/water dispenser in the door.
We were able to negotiate the separation of the contract with the payment of the standard 5% to Metricon typically required at contract signing. The reason for this is due to our land delays.
With the subdivision delayed till the end of November/start of Dec, its still 7-8 months before we’re likely to get titles. This puts us around June/July in 2016 in a best case scenario.
Thankfully we can continue to save out butts off, earn the interest on our savings and pay the deposit closer to the start of the build. The upside of these delays, which are annoying, is that we can afford a better house and the house we’re building will be fantastic.
At more than 34sq, an extended garage, extended alfresco and an 801m block, the house and land will provide a stunning house, but a great home to raise our future children in.
If I could fast forward and walk through the front door today, I would. That said, once we see movement on our block, it’ll likely help the time pass quickly.