Sunday, March 29, 2009

House Update - March 2009

Just got back from a week in Albuquerque. Paul and I drove out and had a great trip -- doing vacation things but also checking out some house things. The building lot is still there and it has been properly surveyed and staked at the corners. We walked around and noted all of the little foot tracks from some kind of little animal...maybe a mouse or kangaroo rat. There is also a substantial burrow from some kind of animal that is bigger than a mouse. It was there last year too so it seems to be an established hideout for something.


We looked at some display homes. The ones we saw that were around 1,500 square feet were too small....you can almost see the whole place from one spot. The 1,600 and 1,700 sq. ft. houses were a little better...not as claustrophobic. These were tract homes offered by mass developers. The house plans are set and you have to take what they offer...no changes.


We went and visited a Stillbrooke model and talked to the agent. They were willing to build on my lot and even use a floor plan that I had rather than one of theirs. The quality of the house would be similar to the tract houses but it would be on my lot. They said the general price would be around $95 per square foot. That was interesting....I'm guessing that that is about the minimum price for something that was live able but not "custom builder" level.


We went and visited the Rachel Matthews model house in Mariposa. They are the developers of my subdivision and Marlene was there. I asked about any developments at Niklas Ridge and there are a few more owners and maybe some houses being built this year. She said they applied for a connection to city water but haven't heard back yet. There was also a chance that the city of Rio Rancho will pave the road and extend water and sewer to a number of areas....including my street. This was going to cost $19,000 per owner but that didn't get any public support so they just passed a $7 million plan for infrastructure improvements that might give me water and sewer service. She also said Rachel Matthews changed their price structure and now builds homes at about $125 per square foot....down from their lowest level of $155 (the Silver level). That seems like it is a manageable price and the homes they build are high quality.


We met with Betty and Max and went over the house plans. We made several changes and talked about things that I wanted and didn't want. We actually ended up making the house a little larger...by about 30 sq. ft. We eliminated the big 'garden' tub from the master bath and added a standard tub in the 2nd bath. We made a 'bump-out' sitting area where the garden tub was and had just one sink instead of a 'his 'n' hers' sink. We also added some space in the garage. The fireplace was moved to the corner of the living room -- which we squared off. Max made the changes and I got a copy of the new plan before we left for home.


I need to look at it a little more and see what Betty thinks on the cost. It depends a little on what I can get for my house when I sell it and how much I owe on the lot. I'm getting it paid down about $1000 each month but still owe $30,000 on it. Actually I don't owe anything on it but it was paid for out of the home equity LOC so it has an impact on what I get for the house.


I'm still happy with my plan...it just is taking a while. Paul liked the builder and designer and thinks they are the best I can go with. The lot is OK and he thinks I'll have neighbors sooner than I think. I think once the water and sewer issue is settled people will start building.