It’s been a crazy couple of weeks in our house, suddenly everything seems to be moving which is a shock to the system after all this time of waiting and thinking about it all.
First we spoke to Stockland and got an update on the land registration, now estimated for May-June, up from it’s original June-August estimate. So we spoke to our broker and finally lodged our land loan application. Our broker stepped us through everything for the best setup of our loans as my parents will be acting as guarantors for us to avoid LMI. We had a conditional approval back within half a day which was a weight off my mind as we don’t foresee any issue with the land valuation (other land in our stage is being sold on RealEstate for $30-60K more than when we put down the deposit last year). We had a very basic preapproval from our bank last year before we started all this to make sure our finances were in order but we hadn’t lodged a formal loan application for anything. We won’t be applying for our construction loan until we get to end panel stage and have a final $ amount for the build.
Then we found out from others in our stage that the construction gates were no longer locked up and we could get a look at our land. So we took a drive down last weekend in a rare break in the rain to take a look at our piece of mud. It was nice to finally get a visual on everything. We discovered in January that there was going to be a stormwater detention pit in front of our home, which is used to slowly allow stormwater to release back into the ground after heavy rains. While we weren’t thrilled at the idea, and still aren’t, it was good to see what we were going to be looking at as there isn’t anything we can do about it.
Looking at our piece of land from the back of the lot and wishing my study was going to be downstairs where the pit isn’t visible at all! Most of the trees opposite will stay which was what made us pick this particular lot (before we knew about the pit!) Having no neighbours opposite us really appealed to me.
The view up our street. All the trees on the edge of the road stay but eventually the land behind them will be cleared for more development.
And the delightful pit. Admittedly it shouldn’t look quite this muddy and nasty by the time we move in. We’re hoping it will be planted up in time to screen it off and make it less of an eyesore.