100K House – All things Modern, Affordable & Green

Postgreen Homes Concept: Three Bedrooms in 16 Feet?

Our current line of houses covers a significant portion of those looking for a new urban house, but we have gotten a little bit of a hard time from those who have a couple of kids and still want one of our homes. This has been particularly the case for those who have a girl and a boy (we are firm believers in bunk beds for same-sex child situations). In response to this small, but insistent minority, we have put together a little concept.

This idea doesn’t have a name yet but you can certainly hit the comments with suggestions. We have basically put a master suite and two small “children’s rooms” on the second floor while maintaining the wide open floor plan downstairs that we think works so well for families. Check it out . . .

pgh_3bed-6612222You will note that the master bedroom has a nice big closet and there is another closet in the hallway. The “kids” rooms are definitely on the small side, but so are kids, and if you had doubts about the size issue, you can always go back and read my thoughts on the issue. We think that a loft bed situation would make great sense for older kids. This would give them a cool place to sleep and still leave most of their room open.

This is still a very preliminary idea, and we would love to get your feedback on it. Take a look at the drawing and tell us what you think in the comments.

How to Buy a Postgreen Home

skinny_sold-8388266Many people ask me – what do I need to do if I want to buy a Postgreen Home? As a licensed REALTOR® with Coldwell Banker Preferred for the past six years, I have helped many people purchase homes, and I know it can be a daunting task. But with the right information and resources, it can be a snap! We at Postgreen have done our best to make the process as simple as possible. Let me take you through the steps.

1)   CUSTOMIZE YOUR HOME: Go to postgreehomes.com and see what we have for sale. Currently, we only have two homes left in the Skinny Project, which will be breaking ground in the next week or so. If you take a look under projects, you can see which lots are available for sale. Choose a lot, and customize it to your liking. Once you are finished, you will receive a PDF of the home you have designed. Give a copy of this PDF to your real estate agent, or you can contact me directly if you don’t have an agent you are currently working with.

2)   TALK TO A MORTGAGE BROKER AND GET PREAPPROVED: Getting pre-approved is a vital step in the home buying process, because it lets you know what you are qualified for in terms of a mortgage. Before signing an agreement on any home, you will need to have a pre-approval in hand. It takes only 15 minutes to do, and you are under no obligation to move forward. If you don’t have a mortgage representative you are currently working with, contact me and I would be happy to point you to some of the people we like.

3)   SIGN AN AGREEMENT OF SALE: The agreement of sale is the contract to purchase the home. It outlines the terms of the purchase, such as price, upgrades, title and more. The Agreement is NOT the actual purchasing of the home – it is the contract that says you will purchase at a later date. Some of the main terms it will include are as follows:

  1. DEPOSITS: The good faith deposit is money that you put into “escrow” that is held for you until settlement. At settlement you get this money back to go towards the purchase of the home, or back in your pocket. This money is used to show good faith that you intend to purchase the property, and is refundable should you cancel the agreement based on the terms of the contract. Generally, the first deposit is $1000, and is due when you sign the contract. Then, within 15 days of signing, an additional 5% of the purchase price is due. Also, we require 50% of the cost of all of your upgrades as a non-refundable deposit.
  2. MORTGAGE CONTINGENCY: This is one of the contingencies that protects you as a buyer. It outlines the type of mortgage you intend to get to purchase the home. There are a lot of details to this contingency, but long story short, if you can’t get the mortgage (and you have done everything you should according to the contract), you can get out of the contract and receive your money back.
  3. INSPECTIONS: With a new construction home, there is an allowance for inspections. Once the developers give you the buyer notice that the home is ready, you can inspect the property yourself, or bring in a licensed inspector.
  4. ESTIMATED SETTLEMENT DATE: Since these homes are new construction, there is not a firm settlement date. However, there is an estimated time frame for completion, so you can have an idea of when to expect your home to be ready.

4)   SIT BACK AND RELAX: Once you have signed the contract, applied for your mortgage, and turned in your deposits, there isn’t much to do but sit back and watch your home being built. We update the blog often with our progress, so you can be well informed on the status of construction.

5)   SETTLEMENT – WELCOME HOME!! Once we have received the certificate of occupancy from the city, we are ready to go to settlement! This is when you will sign the mortgage documents and actually purchase the home. You will receive your keys, your Postgreen Homes welcome package, and the deed to one of the coolest homes in Philly. ENJOY!

Please note that this is a general outline of the buying process. Each purchase is different, and the terms of the actual contract may not be as outlined above. Be sure to speak with your agent to ensure you understand all of the terms before you move forward. If you have any further questions, please feel free to ask them in the comments.

Skinny Project Groundbreaking is Imminent

untitled_panorama4-13Everything is in line for the start of the Skinny Project, and assuming we can find some dirt beneath all this snow, we intend to break ground soon.  In fact, we are expecting to start digging foundations early next week. Right now, it looks like a little break in the snow and cold will make that possible.

This also means that time is running out for those of you who want to fully customize a home in this project. Once we start building, material orders start to go out and the customization options dwindle quickly. If you want one of these homes but prefer cork flooring or a concrete counter, you better speak up soon. Head on over to Postgreen Homes and get customizing.

The actual groundbreaking for this project will likely be a game day decision, so we don’t intend to make an event out of it. That said, you can still expect pictures and video of us moving dirt. Groundbreaking will mark the beginning of what we hope will be a very well documented project.

So, if any of you have weather rituals you can perform to ward off cold and snow, have at it. We just need a couple of days to pour some concrete, and we’ll be on our way.