More buying home fun

We were able to secure pretty good rates (80%/20% loan at 4.75/5.25 respectively) on the new home purchase. The landlord, however, put us through three days of baited breath whether he was willing to extend our lease three months. Either way would have been fine, but the allure of building our house was strong. Who wouldn’t want the opportunity to get things the way you would like it if you had the opportunity? (probably someone who can’t make a decisions) After two days of waiting for an answer from him, we called the landlord again. He was initially only willing to give 2 additional months. A new house would take at a minimum 120 days to build, so we asked again for the third month. “One more day, and I promise a decision,” he said.

At that point we were sure he was going to deny it. I couldn’t blame him for it trying to rent a house during the school year might be difficult. We wait another night not knowing our plans for the next month. He waited to the afternoon today to give his OK to the three month extension to the lease. Great! I made a quick call to builder, Tyler Homes, and said I was interested in the last lot they had available. The sales associate was happy to hear it, and said she would arrange a time for spec’ing the house out. Side note: Tyler Homes is in my opinion the best home builder right now in the Des Moines area. Three awards for design and craftsmanship last year certainly help with those assumptions, and we really wouldn’t consider anyone else to build from scratch with for our house.

Unfortunately, we found out tonight that the last remaining lot in the Altoona development already had a verbal agreement on it. The next development area won’t happen for another three months. We should get final confirmation tomorrow that we are out of luck in building our new house.

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