Another hiccup recently. Our mortgage pre approval has expired and due to changes in mortgage rates our bank is reducing the amount they will lend to us by $130,000! Not the end of the world though, as we have some back up cash for moments in the build like this.

We received the build contract, and the Lawyers are giving it the once over. From there we will have a few questions for our builder and if all goes well, will have a signed contract in the next week or so. A bit scary signing off on $1.1 million, knowing full well that this may increase too as some items in the contract are provisional.

It’s a huge amount of money, especially for someone who always harps on about frugal living and how saving money is most impactful on the big ticket items, such as housing. But we have strong reasons for doing this that outweigh the costs for us.

1/. It is a house that is not only big enough for us now, but will allow our four person household to grow into as our kids become teenagers

2/. It is a house designed specifically designed to suit our lifestyle and how we live

3/. It is a house designed with comfort in mind with minimal heating and cooling required

4/. It is in a small town location that allows us to deliberately slow down the years

Most importantly, we have worked our way into this position. If we did this 8 years ago, we would not have the same freedoms as we do now. We would be bound even longer to our full time jobs. But the last 8 years of saving money has allowed us to do this and still live the semi retired lifestyle we desire.

The building company believe they can have slab down by early January, and build completed by November 2023. All ready for a fresh start in 2024 in time for our oldest child to start primary school. As we know already, things don’t always go to plan, but we are excited of what lies ahead nonetheless.

So barring a huge red flag from the Lawyers, we will have a signed contract and the fun begins. Years of planning for a build. Now for the real momentum to kick in.