|
PLANNING YOUR DREAM HOME
An
Article from "HONEST ABE LIVING"
www.HonestAbe.com ©
2007 Honest Abe Log Homes
USE THESE 10 STEPS AS A GUIDE FOR PURCHASING YOUR LOG HOME
By
Marcia Mansell
STEP ONE :
RESEARCH
Learn all there is to know about log homes. Knowledge is
power. Pour through log home magazines and books. Request literature from
log home companies. If there is an opportunity, attend log home events in
your area. Additionally, the Internet is an excellent tool in researching
your log home.
As you’re compiling all this information, make notes of
what you like. Clip pictures of different styles and keep them in a binder
for future reference. Once you’ve narrowed your choices of log home
companies down to a few, tour their facilities or go to a seminar. Make sure
the company you choose will work well with you and your vision.
STEP TWO :
PREQUALIFY & ESTABLISH A BUDGET
Before getting too far into the process, know how much
money you will have to work with. That is why becoming prequalified through
a bank or lending institution is one of the first steps in purchasing your
new log home.
STEP THREE :
PURCHASE YOUR LAND
First and foremost, make sure the land you have your eye
on is suitable for building. Because, as beautiful as it may be, some land
may not support the kind of home you are planning. Some land may even
prohibit construction due to environmental restrictions or zoning
regulations.
Questions to ask:
• Is the property accessible to construction equipment?
• Does the land have access to water and good drainage?
• Will you have access to utilities, especially telephone service and
electricity?
• Are there any rules, restrictions or covenants that affect the land and
its buildability?
• Will the ground percolate well enough to handle a septic tank?
Having "land in hand" is very important early on in the
process. Many times, homeowners get inspiration for the design of their new
homes from the landscape. Research your property choices well.
STEP FOUR :
DESIGN YOUR HOME
The sky is virtually the limit in designing your
customized log home. Meet with your chosen log home producer. Look through
design catalogs. Discuss ideas with the representative. And bring out the
three-ring binder of clippings you’ve collected during your research.
Talking out your ideas with a designer will help make them a reality.
STEP FIVE :
DEVELOP A TIMELINE
If you’ve already established a date to move into your
new log home, be prepared and willing to change it. Move-in dates must
factor in time for construction and always allow for delays due to weather
or other rescheduling issues. Check with your log home producer to determine
the delivery date of your chosen log home package.
STEP SIX :
ORDER BLUEPRINTS
Industry professionals recommend ordering a preliminary
set of blueprints for the log home well in advance of package delivery.
STEP SEVEN :
OBTAIN CONSTRUCTION ESTIMATES
Your contractor or subcontractor must see your set of
preliminary blueprints in order to prepare an estimate for labor and
materials required to complete your project. Your lending institution will
want to see the construction estimate when you apply for a loan.
STEP EIGHT :
CHOOSE A GENERAL CONTRACTOR
Determine the level of involvement you will have in
building the log home. Being your own contractor can save a lot of money.
But keep in mind that you will be responsible for hiring and scheduling all
subcontractors. Unless you have experience in this, you can end up spending
more money than having gone with a general contractor.
Many lenders will not approve a loan unless a
professional contractor is building the home or acting as a builder of
record. Even if you don’t serve as your own general contractor, find ways to
remain hands-on during the process and save money doing some of the labor.
STEP NINE :
APPLY FOR LOANS
You will possibly need two loans when building your new
log home. The first, the construction loan, pays for the assembly of the
home. Once construction is completed, the construction loan must be paid off
either with cash or a permanent mortgage.
Many lenders today offer "construction-to-perm" loans.
This type of loan allows one closing instead of the two associated with a
construction and mortgage loan. Lenders charge more for the
"construction-to-perm" loan, but many home builders consider it worth the
cost to not have to go through the paperwork and hassle of two closings.
Make sure you do your homework. Consult with lenders and
real estate agents to determine the best loan for you.
STEP TEN :
ORDER PACKAGE & PLACE A DEPOSIT
Log home companies have different requirements for
payment, but most require some money down when you place your order, more to
schedule manufacturing and the rest upon delivery. Delivery is usually
arranged within a couple months of placing the order. Keep in mind that
delivery is by semi-truck and requires an accessible jobsite. This means no
sharp curves or steep hills, and a driveway already rocked.
************************************************************************************************
|
