The appraiser came Wednesday afternoon and, after a 10-minute walk through (?!), concluded that the house is now 79 percent done.
We got a check-off list with our construction loan so Ron has been keeping track of tasks and completion thereof ever since we got our first disbursement. The bank warned us to estimate conservatively. Before ordering this appraisal, Ron came up with 78 percent completion, only 1 percent less than the appraiser’s slightly more optimistic conclusion. Clearly, we did need to estimate conservatively.
In reality, we are probably more than 79% done. The appraiser’s numbers definitely err on the conservative side. For instance, during our first disbursement, the vast majority of the siding was done. My guess: 90 percent, only one-third of the north wall wasn’t sided when she visited. But when she filled in the sheet, she called it 5% of the 7% that siding “counts” towards the overall completion of the house. It should have been 6% (or even 6.5%, but clearly they don’t do fractions of percentages).
At any rate, even at 79 percent, the house looks more and more house-y, and we’re treating it more and more like a house–from the functioning toilets and shower/tub to the operational washer and dryer.
I swear: more photos soon.