Color Selections

Oh, the most difficult meeting so far.  We knew what we wanted for the cabinets already, so that was easy (Cherry Bordeaux).  The granite took a little longer - there were 2 colors we were debating between.  They had the same color scheme, one was just lighter than the other.  I was concerned that with the darker cabinets, a dark counter would make the whole room dark.  Our SR was great though and even took us to an almost-completed home that had black cabinets, black/white counters, and dark hardwood floors.  But with the white walls and all the light coming in from the morning room windows it was very bright and cheerful. So we chose the darker of the two choices (Caledonia).

The exterior colors were much more difficult.  You cannot choose the same siding color as houses that are 2 away from you, so the color we really wanted (a grey) was not available.  We had 5 other colors available - we eliminated the greens and yellows right a way and were left with "Sandy Tan" and "Silver Mist".  Once you pick your exterior color, you have 5 selections for shutters, and 2 selections for doors from there.  We originally chose silver mist with grey shutters and door, but after a lot of debate and driving around the community looking at other homes, I decided I wanted a home with a little more contrast between the siding color and the trim (white).  The silver mist was a little too close to white that the contrast I was looking for would not really exist.  The sandy tan is more of a darker taupe color and I think will look very crisp and clean with the white trim and the grey shutters and door will be a nice transition to the black room (we thought black shutters would be too big of a contrast).  So we didn't get the exact color scheme we wanted, but we think we picked the best version of the choices presented to us.

Finally, we chose the formica color for the small countertop in the laundry room.  The laundry has the same cabinets as the kitchen, so we chose a similar color to the granite in the kitchen (Brazilian Bronze).

Take Aways for the Color Selection Meeting:

1. If you have your heart set on a specific exterior color, be cognizant of your lot selection.  You might not be able to get the exterior color you want if another home has already selected it.
2. Spend some time looking at pictures online or driving/walking around other recently build Ryan Homes to get an idea of what colors you do like.

Loan Application

We had our loan application meeting last week and it could not have gone smoother!  We had sent everything on the LONG checklist before the meeting, so that helped shorten the meeting from a 2 - 2.5 hour meeting to a 1 - 1.5 hour meeting.  There was one detail that we missed (an extra pay stub), which they were fine with us submitting the next day.  Our loan officer was very nice and answered all of our questions.

There was one portion where we were slightly confused about a "technicality" where because RH would have to pay something upfront, our closing costs would increase (because we didn't want to roll the additional expense into the loan).  I still don't really understand what this was for; our Sales Rep even asked us why our closing costs increased and all we could do was shrug and say it was a technicality.  I had asked several clarifying questions when we were discussing this at the loan application but I think I missed the whole "clarifying" part.

But after a lot of signing, we had completed our loan application.  We were very pleased - our loan officer even wrote "Great Loan!" on our take-home sheet.  She said we had one of the best loans, which made us feel really good about ourselves.

Anyways - take home points for anyone who has not yet reached this part yet:

1. Check and double-check the checklist and send as many materials in as early as possible (this will make the meeting much shorter and your loan officer much happier with you)
2. Your loan officer is the expert, not you - if you're confused, ask questions.  And ask your loan officer to go through different scenarios with you to make sure you pick this best one for your situation (i.e. we opted to go with the projected monthly property taxes because we'd prefer a credit at the end of the year instead of a bill from the city).

Our Floorpan and Options

We're still young and don't have kids yet, so we know that we don't need a big house right now.  But what we do know is that 1) the housing market is expected to improve by 2017 (meaning mortgage rates will be higher than they are right now), 2) if we buy a smaller house now, we'll be selling it in ~5 years and buying the same house we are building now, but spending a lot more money (because of reason 1), and 3) we have the means to do it now, so why wait?
We also know that this would be a long-term house (at least 10 years), if not a forever house.  In determining our floorplan and selecting options, we tried to keep in mind the things that we don't HAVE to have right now, the things we could do ourselves later or for cheaper (and not have to pay interest on for 30 years), and the structural/electrical/plumbing things that if we didn't do now, would cost a lot (either in money and/or headaches) later on.

In keeping all of that in mind, below are the options that (as of right now), we've decided on:

Floorpan: Landon with Elevation C (a full front porch)

• We chose to do a reverse plan (the garage will be on the left hand side if you're looking at the front of the house) because we're on a hill which declines on the right, so when we're sitting on the porch, we will be able to see across the city to the right.
• Siding only - we couldn't do the based elevation (A), because our next door neighbor had already chosen it.  We haven't decided on colors yet (the picture below is just an example of what Elevation C looks like), but I think we're leaning towards a light gray with white trim.  We wanted a front porch, so went with C, which is ~$12K, so we didn't want to spend anything additional on stone or brick.  Stone looks nice, but it doesn't really add any value to the house.  Plus, it's veneer, which we can always add it on later if we decide we want stone on the house.

First Floor:

• Morning Room: We added the morning room because I didn't want to use the "dining room" as a dining room.  I would prefer to treat it as a sitting room and potentially a music room (i.e. when we buy a piano).  I also thought it would be weird for people to enter through the front door and then see a dining set right there.  Without the morning room, we could have used the "dinette" for eating, but in looking at pictures and in doing a walk-through of a just-finished home, I didn't think there would be enough room.  Finally, everything I read online said "just do it".  People who got the morning room loved it, and people who didn't get the morning room wish that they had.  Plus the morning room has 3 big windows looking onto the backyard, which will let in tons of light and will be very picturesque with the woods in our backyard.
• Fireplace: We added the gas fireplace on the side wall.  We just did the least expensive version (slate non-raised hearth and white mantle) because I couldn't imaging spending $10,000 on stone going all the way up to the ceiling.  We can do this later if we decide we want to add more character.  We had thought about adding the fireplace on later ourselves, but after looking at the way we would have to do it (we'd have to cut through the siding and add the "gas box" on), it would be easier and less expensive to have RH do it).
• Granite countertops: This was actually the April incentive, so we got it for free! Our SR also told us that RH stopped using Formica, so it might just have been that granite was the only option RH offers now.  We'll be doing a lighter granite (white/bone with hints of brown and red) to match our cabinets.  
• Cabinet Upgrade 1: This was also an April incentive, which was cool because we were going to upgrade to the Cherry cabinets anyways, so we got this free as well!
• Carpet padding upgrade to 8 lb: My husband works for Hoover, so he has a lot of experience with different types of carpet.  The actual base carpet is fine (not high quality), but upgrading the carpet padding will make the feel of it much more luxurious.  
• 2 floor drains in the garage: the Landon actually comes with the 3 car garage which will be awesome.  But putting drains in the garage is extra
• A hot water bib in the garage - we'll wash our cars in the winter in the garage (hello floor drain!), so it will be nice to be able to use hot water.
• Gas line to the back of the house - we probably won't put a deck on for a year or 2, but when we do, we'll be able to have a gas grill without needing to go a fill up a propane tank.

Second Floor:

• The only upgrade we made on the second floor was upgrading the owners bath to a 6-ft tub and a shower.  We went back and forth on this a few times because we kept thinking, "how often do we take baths?" and that the hall bath does have a tub that we could use if we wanted to take a bath.  But having the 6-ft tub was very enticing, plus my husband likes to take baths after he comes home from work (he spends a lot of time on his feet in the test lab and likes to soak his knees).  Which will also allow us our own space when we have kids that will be using the hall bath.

And that's about it!  We're not doing a finished basement, and we will do the landscaping and deck ourselves (RH doesn't do these), so we won't really be thinking about that for a couple of months.  We're not planning on upgrading any of the flooring besides the carpet pad (we'll see what happens with the master bath because I'm not thrilled about having 4x4 tile) because the vinyl flooring is perfect as a base and we can put in hardwood floors later if we decide to.

We have our color selection meeting later this week and the Guardian and Flooring selection meetings in 2 weeks.  We'll see how much we end up changing.  The flooring should be pretty easy because I think we know what we like (except for the tile in the bathroom).  I've read that the Guardian meeting can be kind of like a used-car salesman presentation, so we'll see how that goes.

We're Building a House!

This is my first time "blogging", but I thought it would be fun to write down my thoughts (it also might help keep me sane throughout this whole process) and serve as a archive for our thoughts/decision making processes.  I also hope it will be informational for other people who are thinking of building a house as I found so much information online through other people's blogs and want to return the favor for future homeowners! So here is a brief synopsis of how we got to where we are today:

We were married in 2014 and after a year of living in an apartment, we decided that it would be a good time to buy a house and start investing in some equity.  I must have looked at over 500 houses on Zillow over a period of a few months.  The only houses that we really seemed to like were newer homes and we always got pulled in by those "to-be-built" homes that look so great on Zillow but don't really exist yet.  So we started looking at Ryan Homes online.  There were a few communities that we liked on the map and scheduled an appointment with Ryan Homes.

On the day of the appointment, we talked with a sales rep for almost 4 hours, reviewing who Ryan Homes was as a company, walking through the model home, asking LOTS of questions, visiting potential lots, going through floorplans, walking through a just-finished home of the floorplan my husband fell in love with, which was a Landon, and then building a cost estimate.  The Landon is a new model and I wasn't able to find much information online about it except on the RH website.  So at the end of the day, we walked away with a ton of information and a lot to think about.

The next weekend we went and visited another Ryan Homes community, which was a lot smaller and not really in an established area of town, which were both downsides.   We built a bunch of different scenarios in Excel (I'm a financial analyst, so what else would you expect?) and after considering our options, we made the heart-heavy decision to pay off our student loans this year and buy a house next year.  We were both disappointed by this decision, but thought it was the most fiscally responsible thing to do.

The next week, I got a call from our SR at the community we first visited asking if we had made any decisions or had any questions.  I told him our decision and why we made it and he asked if we would like to come in again, crunch through all our numbers and options, so that we had all the information available to make an educated decision.  We agreed and scheduled a meeting for the next weekend.  We spent the next couple of days making more spreadsheets, more scenarios, what/if statements, and went into the meeting feeling pretty well informed about where we were financially and where we wanted to be in 5 years.  We also spent time researching blogs (when you type in Ryan Homes in google you get a bunch of nightmare negative comments that pop up.  It's not until I found the RH blogs that I began to feel more comfortable with the idea of building a RH home.  I should have known better anyways - the people who give poor ratings are often a small percentage of all the people who could give ratings).  And in the blogs, there were people who had negative things to say; but they also told how RH responded to their requests and more-often-than-not, fixed the problem).  Anyways, in all this research we learned a lot.  Some of the more important things to know when getting to know Ryan Homes:

• to focus on the structural, electrical, and plumbing changes when adding options.  Things that will be difficult and expensive to fix after the house in already built are the things you want to spend the mark-up price on.  Things like lighting fixtures, hardwood floors, etc., we can do our selves for a lot cheaper (plus then you don't have to pay 30 years of interest on it)
• Questions to ask: i.e. who knew that the garage wouldn't come with floor drains in Ohio.  Hello, have you seen how much snow we get?  Anyways, if you want floor drains this cost extra (and would be insanely difficult to put in after the house is built, so we splurged on the $500 drains).  Also when going through the model home, point at everything and ask "is this an upgrade".  More often than not (i.e. window placement, fireplace, island, washer/dryer), it is going to be an extra cost if you want your house to look like the model.

Anyways, we had another meeting with our SR, and talked through all our options (i.e. getting rid of mortgage insurance by paying the premium upfront).  We also had a heart-to-heart regarding mortgage rates.  I had done quite a bit of research about mortgage rates, their historical trend, and projected forecast and what it would mean to wait a year to buy a house.  Right now, mortgage rates are in the 3.65% - 3.85% range.  If we waited another year, there would be a good chance for rates to be increased above 4%.  Plus, right now the Landon floorpan is ~$20,000 underpriced due to how new it is (other floorpans were priced at $110/sq.ft; our Landon would be priced at $80 per sq/ft).  The only bad part was that the base price had increased $4,000.  But, the new incentive for April was free granite and cabinet upgrade I, so we basically got $10,000 of free upgrades (that's the markup price; probably not the actually price if we did it ourselves).

So long story short, we decided to build a house!  There was really only one lot that we liked (it's at the top of hill, amazing views, and has greenspace/woods behind it - no backyard neighbors!).  This lot had actually already been sold, but something happened with the previous buyers, so it came back on the market (lucky for us, because this was the best lot available, in my opinion).

So here we are; we've signed the contract, scheduled our loan application, our color selection meeting, and our Guardian meeting.  We still have to schedule our flooring appointment, but I'm just busy trying to get everything everything ready for the loan application.

Phew!  That's a lot, but it gets you up-to-speed.  Until next time...