But then the appraisal came back. A big, fat, red light. The number they gave us was so low; we thought it had to be a joke. We're talking tens of thousands less than the cost to build. And so I entered the 5 stages of building grief.
1. Denial - This number can't be right. Clearly there is an error somewhere.
2. Anger - How dare this appraiser crush my dreams and undervalue my precious house? I'm going to give him a piece of my mind!
3. Bargaining - Maybe if I explain how special this house will be, the appraiser will change his mind? Just because houses around us are selling low, doesn't mean our house would.
4. Depression - We're never going to get a house! We're doomed to live in this tiny cottage forever. Teachers aren't paid enough to have a beautiful home.
5. Acceptance - This is just a minor setback. There are other banks and other appraisers in this world. This must not be the right situation for us, but that doesn't mean we won't start on a house before the summer is over.
So ... here's where we are. It is not likely that our house is going to be appraised for as much as it will cost to build. Very few houses have sold near us, so there are practically no comparable houses within a 5 or even 10 mile radius of our land. This is the problem with living in the boonies - people pass their homes down to their children or build new homes on family land. You can also have a million dollar home next to a trailer. This does not make for cookie cutter neighborhoods with lots of similar houses being bought and sold. Good for my open spaces loving soul - bad for home appraisals.
However, we've been told by a number of people that the appraisal looks, "fishy," so we will be getting a second appraisal in hopes of a slightly higher number. We're also talking to a number of banks to try to work out the best financing option for us.
So, please forgive me for not posting as much as normal. I can't bring myself to post all of the house stuff we've been doing (kitchen planning, choosing exterior materials, etc.) until I know for sure the house is moving forward. I've been a bit of an emotional wreck as we play this hurry up and wait game with financing, and I haven't been my usual crafty and creative self. It's hard to sew and paint when you're busing chewing off all your fingernails!
Happy house prayers are welcome, and I'm so thankful that y'all are sticking with me through this craziness!
<3
Hattie
3 comments:
Hattie, I will be praying for your situation and that God will provide peace throughout the entire process. Thanks for sharing your thoughts on your personal disappointment.
Hi! Mi name is Tatiana and i´m from Argentina. Let me tell you something: the credit stuff doesen´t exist here. So take it easy, it will all work out in the end, and it will just be an anecdote to you kids. Good luck and relax!!
I just found your blog through a search for a red craftsman door-- and have enjoyed reading it. Were also in the process of building a home and in a field so we've run across the same problem with the appraisal of our land being way way way low- they've just gotten back to us though and luckily our house all together will appraise for enough-- but I so know the feeling your going through-- sending good thoughts your way :) If you feel so inclined you can visit my blog at littlebitsofbliss.blogspot.com :)
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