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Construction loans? Options
coastal hermit
#1 Posted : Friday, June 20, 2003 4:39:26 PM
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Weird suggestion: if you build out of SIPs, you can get it erected and move in without the finishing. Big savings on the ''eventual'' cost. Admittedly, you are living in an OSB box but you can then ''flesh'' it out of cash flow as you go. True, the SIPs and the foundation are ''up front'' costs but they likely only represent 30% of the ''finished'' house and so the sum needed to get started is just that much less. Financing off the grid houses and especially d-i-y stuff is practically impossible (OK, completely impossible). But you can get started for a lower sum anyway.
loikaw
#2 Posted : Friday, June 20, 2003 5:03:41 PM
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How small can you go?
http://peaceandcarrots.homestead.com/HeathersHouse.html
johnhagen
#3 Posted : Saturday, June 21, 2003 11:14:45 AM
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you need at least 10.000 saved up.Before you start this stage of your life.You dont need the loans from a bank you just have to do it in steps i know,but it will work.A break down here for a simple but realistical home will take this much.Basement, foundation, siding ,shingles and water.Also check on electricity you will need some.I know this may not be what you want to here but i have made it work and we needed these things to start and then added walls a porch a bathroom as the money came in.Make sure your mate and you are very tight as there is alot of stress at the middle of your project,but it is a great life .
skruzich
#4 Posted : Saturday, June 21, 2003 11:14:15 PM
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IF your county will allow you to build a detached garage structure, you can get away with bulding that for a reasonable price. But as far as loans, have you thought about using jim walter homes. They start and build up to what you say to stop, and you can finish it out yourself. They finance it too i think.
andydufresne
#5 Posted : Saturday, June 21, 2003 11:21:48 PM
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I think Jim Walters and the like finance using the LAND as collateral...SO even if you have terrible credit if you own your land or a reasonable percentage of it you can get a loan with them.
johnhagen
#6 Posted : Sunday, June 22, 2003 11:34:17 AM
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A good idea which i did for temporary but am still using,but which saved us 6.000$ was my septic tank.This was not anything to wild and it works great.Have used it 4 years so far but we have now saved enough to have a proper one put in now ,but cant see how it could work any better than this one.What i did is run 3in. non perforated pipe from the stool out to a pair of 55 gallon barells.One pipe going from one to the other barrel is 12in. higher then ran perforated pipe out for 50 feet.Keep your drop to about 1/4 in for every 10 feet.Make your trench about 2 foot wide and put in creek gravel to cover then lay roofing felt paper over it then dirt.We still have not had to pump it out yet, but you can by taking out the bung from the barells and having it pumped.put rid x in once a month and you got it.I am the first to say this was a great day for both of us.
skruzich
#7 Posted : Sunday, June 22, 2003 3:33:07 PM
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John, thats a good idea, but you have to do it without permission around most counties here. They want a 200.00 septic tank application before they even issue a building permit. I don''t know how one could get away with the 55 gallon drum thing. From what i am hearing them all say at the county i am looking into is, that you have to hire a approved spetic tank installer And they get a arm, leg and a firstborn to install one.
I didn''t realized it was so much work to find ways to build against conventional methods. ;(
steve
johnhagen
#8 Posted : Monday, June 23, 2003 11:35:04 AM
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Steve you are absolutly right the cost they told us with all the permits was 6,500$. Our building permit which i feel was just so they could raise the taxs was for a agricultural building/garage/weekend building .I never told them i was having a bathroom or for that mater water but the well driller told them so out comes the health dept. to look were our well is, and to get his 100$ permit money fee.They are not allowed inside and we did not have the vent thru roof yet so he neve knew that the flower garden was so well fertilized we own 80 acres so you dont have people messing around here unless you want them as we built all the way to the back.If it had not been for the well driller i would not of even got a building permit and they are not going to open the gate and drive 1/4 mile to see what is back there.The beware of pit bull sign works real well and we dont have one ,but know one takes te chance.We also have a gate at the road that we keep closed.Unless we know you are coming.May God bless you and your day.
skruzich
#9 Posted : Monday, June 23, 2003 2:34:13 PM
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80 acres, what a dream place. I couldn''t afford that much land.
If i were to get that much here, it would cost me 800,000 dollars
Then the taxes would be 10,000 dollars a year on it just for raw land. If i put a
house on it, then it would skyrocket.
But thats in the county i currently live in.
I am still trying to get going on this project. I bid on ebay for a cement mixer, but this one individual keeps running the price up. SO i will wait til the last 5 min and bid like crazy. Hopefully i will get it.
andydufresne
#10 Posted : Monday, June 23, 2003 6:19:11 PM
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I am doing this from memory and from 12 years ago but when I put MY septic in I did it myself. The rules were and I believe still are...that you only have to get county approval is you have less than 20 acres OR you are going to be withing a certain distance of a property line. They kinda figure that if you are going to poison yourself it''s your business but they don''t want your STUFF going on someone else''s property.

GOOD LUCK on the cement mixer, Steve.
skruzich
#11 Posted : Monday, June 23, 2003 9:28:02 PM
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Bahhh I wish i had the engineering skills that the folks up in pates community has. I would build me one. But i kinda need a working one now. :(
I am wondering if one of these 150 dollar ones that will mix 2 or 3 cu feet would give me enough cement to work steadily without having to mix another batch real fast
andydufresne
#12 Posted : Monday, June 23, 2003 9:44:12 PM
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It would produce enough for me! But I think that is assuming you have someone else there to pour the stuff in the mixer.
skruzich
#13 Posted : Tuesday, June 24, 2003 1:45:39 AM
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Nope I would probably have to do it by myself. I have two teenagers at home and can''t get them to help with anything.
lunailoniafaer
#14 Posted : Tuesday, June 24, 2003 3:50:48 AM
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Wow!

Thank you all so much for your help!

Up here, if you are building out of city/bourough limits, you don''t need any kind of permits- thank god :)

All of you have given me quite a few Ideas- You can buy little barn kits (16x24) for about $6000 up here- no electrical or water implements though.

Land is still relatively cheap here, but they aren''t many programs to support home BUILDERS only homebuyers with bad credit,many children, and no job:)

I am going to be using a biolet- and a hand-pump for water, I hope to have my septic in the next couple years :)
jazzybass
#15 Posted : Friday, July 18, 2003 12:59:50 AM
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WOW I sure can''t help with financing problems other than stay away from it as much as you can...
As a mather of fact I am looking to take some assets and liquidate them to pay my way into 36 acres...If anyone is interested in collecting Baseball Cards I am looking to sell my collection a card at a time or all 577 cards dating from 1966---1973 I have some very interesting cards and I''m wanting to get close as I can to book value...as I can... If you are interested send me an E-mail to ball44269@sssnet.com just so you will be aware total book value today for all in near mint to mint condition is $14,384.60
lunailoniafaer
#16 Posted : Friday, July 18, 2003 12:59:50 AM
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I posted a couple queries about this a while back, and I am still looking for any info on good construction loans.I'm just about out of ideas!

So any folks out there have any info on small loans (under $50k) for construction, for young people with not much credit?

I've found info on the Farm Home Association,and on the Fannie May, but it seems like you have to have at least $50,000 in the bank and a second home to get anything from them!

Does anyone have expierience in this?

I really don't want to have to save up for 5 years to start living off the grid- we can't build out of pocket really- the winters up here aren't that permitting!

Thanks in advance for anyone who throws in their two cents!
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