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Wednesday, May 19, 2010

uggh

I want to vomit. I have too many things weighing on my mind. This is no way to live. The bank called yesterday about the construction loan. The assessor (appaiser?) valued our future home at $187,000. That is basically an evaluation of what our property would sell for in the current market. Problem is, the market here has really tanked. The bank will loan us 75% of the assessed value or $140,000. The estimates we have collected to build a 1400 sq foot house, 2 car garage, mound septic, well and to run electric out (1,000ft!) is 175,000. That is a big difference.
Do you remember that post about 'when i retire'...well we need to decide if that is all talk or will we put our money where our mouth is. Last night talking it over with DH and a bottle of wine it seemed pretty obvious- we do it, but I am worrying this thing to death (that's what i do). Time for a little yoga and then I will transplant my little tomatoes and see how things feel then.
Oh yeah, I also had a post on HWW about technoloy and commuting.-see side link to HWW

4 comments:

Ruralrose said...

i suggest, again, that you two buy a nice new mobile home to live in while you build up the farm and your equity - instant home, no fuss no muss - make your root cellar work as a shelter for big storms - it is about being happy isn't it? peace

Heather said...

Or create phases of construction. For example, if the 2 car garage is separate from the house, it could be built later. We are in a similar place right now, trying to build a house and we're creating different phases. Phase 1 is for the basic house structure and finishings, phase 2 starts after we sell our current house and get the tax rebate for the geothermal, phase 3 starts another year later when we start to add solar panels. It limits what we actually mortgage and allows us time to gauge our actual energy usage before purchasing solar panels. It also makes that up-front cost small enough to at least let me sleep at night.

Conny said...

Sorry that's happening over your way. Nerve wracking it must be. I'm sure you'll find a way(or ways) to come in under budget, finishing off things as money comes in. I have great hope that it will all work out in the end.

Breath. remember to breath. :>)

Ruralrose said...

Heather is so spot on, we restored and upgraded our farm in stages. I am glad you are able to build a new house for your new farmstead. The feeling of leaving quality security (like houses and farms) for the next generation is enough to keep one going, even on the bad days. A friend of mine recently built the garage first, with a bathroom and and kitchen. They lived in it while they worked on their house. Now he rents it, (well his mother-in-law lives in it). Another idea. Once you agree, it begins, and you won't be able to stop it even if you wanted to. This is a good thing because you won't have to worry whether you should or not anymore. Don't forget a pantry and a rootcellar in your plans. Savor these days, you'll realize how sweet they were when you look back later. All the best. Peace