I am sort of the same situation, bought in October, but they didn't start till construction until March. They lowered the price before I purchase, and have thrown in a ton of upgrades, Granite countertops, Stainless Appliances, tile kitchen floor and Wood bannister on the staircase, yet I am still concerned about my upgrades and appraisal. They also gave 10,000 incentives, which is just about what I spent, plus 9,000 in plantation shutters...thats my main concern. I figure if it doesn't appraise enough, then I would have bargining power with them... except for the shutter price.
When the idea of the appraisal not coming in high enough first surfaced, I paniced. Never had even thought of the possibility. So, we have included the shutters in the mortgage, but they are not going to be ordered and installed until after the appraisal, so I can back out if necessary.
It was just a casual conversation with the Mortgage person when it came up. He says he has never had it happen (not apprasing enough) with their homes...but that in today's market, they are just trying to cover all the bases. My builder (and I am using them for mortgage) is John Laing Homes