I've mentioned before that we are trying to get a new home built. I am an "owner/builder" and have a home builder contractor firm that is working with me as advisor and running the job under their umbrella. (They are friends of the family and until he passed the family patriarch who runs the company lived in my parents' neighborhood, and one of his sons, who runs the company with his brothers, lives a few houses down from my parents, so they are doing this as a favor to me -- I am paying them a large fee, but a lot less than I would be paying if they were just building the house and selling it to me).
We had bank problems that lasted 6 months until we basically gave the bank the flying finger, and went to another one, which had the construction loan closed in a hair under 2 months, which around here, is really good. The original bank, the largest Utah based bank, used a low end knuckle dragger appraiser who was not fit for the type of project we are doing [and who charged 1/2 of what they told me to expect a project like ours to cost to appraise, and the second appraisal from the second bank, which was great, did cost]. He said our project was an over-improvement for the area (factually it is not, there are plenty of houses just as large or larger in the neighborhood and I provided a ton of proof in my rebuttal), and there were a bunch of other factual errors about the project that affected the appraisal, and which I provided actual counter data in our rebuttal. He also didn't like the layout of the so-called "bonus space" above the garage (instead of a normal attic, we used it for a large room [for trains
] and some offices for work at home). He called it "obsolete" in function. Between it all he knocked roughly 25% off the actual value so that the appraisal was much less than basic construction costs. I submitted a 45 page rebuttal with pictures and hard data. His reply was "it is not debatable" when it came to the "over-improvement" and "functional obsolescence". A short paragraph or two to most of my 45 page rebuttal. He did include several paragraphs explaining some technical stuff that was minor [about construction technique and materials and how it affects the appraisal] -- stuff that I think actually supported my claim based on his description but I did not follow up with it. The loan officer said he took it to their higher committee, which basically rubber stamped the appraisal. We needed to get started this year so I basically told the loan officer that we were withdrawing the application since he couldn't get it done. He said it wasn't his fault that the value was not there in the appraisal. I pointed out it was deficient but they were unwilling to order a new one, even after 6 months.
new bank ordered an appraisal which came back at over 50% higher than the defective one from the first.
Anyway, the point of all this is to set the background for the real news.
A week ago today the excavation company started digging!!! They are still working on it as they have to truck out most of the dirt, which makes it slower. The lot is sloped down from N to S, and from W to E and I want to make the yard relatively flat -- we will end up adding dirt to the SE corner to level it. And I also don't want to have a steep grade on the driveway*, and I don't want steps into the house from the garage and no more than a 1/2 step from outside to the front porch. When I am old and decrepit (retired and getting older and maybe with health issues) I don't want to have to deal steps or crap like that. I look at my dad, who is 85, and for his age and condition in pretty good shape, but physically weaker, and he has lots of steps and stars into his house or in the house which he can no longer easily traverse (diagnosed with prostate cancer, though signs of it have disappeared mostly after they put him on a testosterone suppressant to keep from feeding it). I want to avoid those problems when I am old.
All the actual living space is on one floor, so the footprint is a little large. Because of that we have a large basement -- which I will put to good use with my non-train hobbies -- as well as a family room and guest bedroom and lots of storage and misc rooms for game room, workout, etc. But nothing in the basement is where I have to be able to get for normal living when I am old. Same for the "bonus" space above the garage. Not needed for basic life. But the larger footprint means we have to move a lot of dirt.
We had another meeting today with the builder guy, their super who is running the job, and the head owner of the excavation company, to make sure we had done things right, as the hole is deeper than they normally dig and the super was second guessing things (not the first time -- he is an excellent superintendent for this builder but we are using ICF and some other things they don't normally do so he has had to adjust how he thinks about things and his normal way of measuring and laying things out. With ICF, we have no separate foundation -- just a building wall that goes from footing to roof, so there is not the normal standard foundation form height to key off etc.
Did I say they are digging? When the footprint was originally laid out for the excavation crew, it was accidentally 3' further off the road than it was supposed to be. So they ended up overdigging an extra 3' on the back side more than they usually overdig. And the guy laying it out on the dirt also mis-read the plan so a 17'x'17' enclosed patio without basement underneath it got excavated as if it were part of the main house so we will have to fill that area back in and compact etc
(basically an extra room attached to the house outside the main structure wall with 2 sliding glass and a normal glass door to give lots of light and airy feeling).
I planned on extra excavation costs but it is more than I budgeted for with all the dirt they have to move off site. Luckily I had a large chunk added for the geothermal and energy efficiency measures and I think that extra chunk of money I added to the second loan for those measures is not needed. So it will cover the extra excavation costs.
Once more, did I say they are digging? We started this adventure in the spring of 2019 with a trip to an architect with my floor plan scribblings, and had hoped to start last summer, but got behind with a bunch of things and then finally getting the loan app in late summer and it taking over 6 months before we basically had to start over, so it has been stressful and I am just glad to have gotten started. The real physical work is coming up -- I am doing the ICF blocks with my son and one other guy, plus I will be putting the radiant in, the cabinets, the LVP flooring, the stairs (with some help), etc. But physical work, even as a desk jockey for my living, is easy compared to getting to the point where you can start.
This is not the whole hole, they are still working on it to the left, but I do believe this corner where I am standing is at the front most section. And the good chunk of the back wall on the right back should not have been taken out --- basically from that little jog you see upper right, to a little right of the center point on the back wall, forward even with that jog, which is actually a lot bigger than it looks from this vantage point.
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