The photo that you’re looking at was taken just minutes before we got a call from our builder.
It didn’t seem weird that she was calling me because I had just emailed her the other day about some outlets I wanted to add and other things we were interested in moving around so when she immediately told me she had bad news for me, I wasn’t entirely prepared.
She called to tell us that they’re company has been in panic mode because of the prices for materials and if they don’t raise the price of our house and the other 11 homes still waiting to be built in our neighborhood, then they’re company would be in danger of going belly up.
I’m not an expert in real estate so I don’t know how true this is but it sucks regardless.
So the bad news she called to share with us is that our house price went up an astronomical amount of money and we have just a few days to decide if we would like to move forward with the build or walk away and they’ll give us our earnest money back for the inconvenience.
Our heads have been spinning since that call.
The worst part was that we closed on our home just TWO DAYS before getting the call and we were even out the night before celebrating the close.
Back when we found this house in late January we mentioned that just 2 weeks after that, the builders raised the price $35k due to material costs and that alone was stressful! But when it came time to sign the contract, the builders honored our original price and we thought the worst was behind us.
Well, if we thought $35k was a crazy price raise, this was even more crazy.
We’re not entirely sure what we’re going to do yet.
Now, if you’re wondering if this is legal because we’ve already signed a contract with the builder to “lock in our pricing” the answer is yes. The contracts are drafted by the builders and designed to protect the builders. They’re also non negotiable in the state the market is in right now. If you chose not to sign the contract due to that clause existing in it then someone else will sign it.
We were also told that the house will be built the way we designed it whether we decide to move forward with the build or walk away and I honestly don’t know how I would deal with knowing the house we designed to be our forever home for our family, the house who’s plot of land we’ve visited at least 50 times and we haven’t even broken ground yet, was built and another family is living in it.
The only good news we received from the call was the update on when we would break ground.
We were told no later than July and if other families decide to walk away due to price increases, they could start on our house as soon as June.
We do know that 4 of the 12 families have already decided to walk away from their build and my heart honestly breaks for them. It’s an awful feeling to fall in love with a house and picture your family in it just to have it taken away.
By next week I’m hoping we’ll have some finality on our situation.
It’s tough because we went from enjoying a vacation with friends here in Arizona to now worrying about our home in Texas and wondering if we should head back earlier than expected. I don’t think we’ll feel any kind of stability now until we close on whatever house we go with.