Building a house. What can wait?
HU-4566257
2 years ago
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Comments (22)
Jeffrey R. Grenz, General Contractor
2 years agoJJ
2 years agolast modified: 2 years agoRelated Discussions
Tile reno in main bathroom: what can wait?
Comments (3)thanks Bill! If, however, our goal is to avoid problems (mold, mildew, water damage) 10 - 15 yrs down the line, should we change out the tub surround (yes, I'm going to presume you'll say) AND the floor? Or, can we seal the grout and call it a day on the floor? Many many years ago, I remember seeing a mushroom grow up between the wall and the floor, in a bathroom, of a place that I was living in. Guess that there was a wee bit of water leaking out of the shower!...See MoreBuy land first or wait and do at same time as build?
Comments (29)i have tried to locate info on usda home loan program, as a first time home buyer. I cant find an honest answer or realistic. All im trying to do is either buy land and build in 2yrs. Or try to locate an area that has already newly build farm style homes. i reside in florida. I have located a mortgage firm that does construction and land all in one loans.? But I cant get an answer if going that way, does that mean the payments i make how much will be put to the construcion or home loan pay back.. ?? I would like to own the land. I spoken to several realtors, chats, bankers, lenders, etc. i cant get a straight answer unless i apply a new applicaiton. NOT!!!!, i just need info before i put my personal or get stuck.. whats the best way to get a newly build farm style home (without farming) with a usda loan? Is it best to go with a banker, or lender? Good Luck to you all. Merry Christmas....See MoreBuilding a house...not sure what to do?
Comments (12)@ mike_kaiser_gw I think there is a strong possibility that we are not going to budge you off your preconceived, "no one needs a house that expensive," notion. If I was trying to convince you otherwise, I could point out that his spending $7,500 per month on a house payment is about equivalent to someone making $100,000 buying a $195,000 home, but that would actually be incorrect. When you consider the free cash flows of both the person making $100,000 and someone of his income it would be closer to a person making $100,000 per year buying a $95,000 house. Furthermore, expansion is more expensive than building, you are essentially advising someone who can easily afford the home to spend significantly more money in the long run to appease your sense of injustice. Also, what if they don't like the look of a house that is easily expanded on? I mean really, you limit yourself to modern or farmhouse architecture if you want a home that is easy to grow. Finally, I have a great friend who lives in L.A. he just bought a great little house, about 2,800 square feet for just slightly over 2 million. The entire house is barely bigger than the basement on the house I am building and I am not even spending 30% of what he did. In some places things cost more. @ engrgirl He probably contributing the maximum $14,000 annually per child for college fund. At the rate he is going each child should have more than $400,000 for college. I know tuition rates are going up but I would say he has it covered. He is putting back money for retirement. He is also obviously concerned about the payments and is not overextending. My best guess is his absolute payment maximum for a home should be about $17,500 per month. He is being conservative! He should easily be comfortable with this payment on 65% of his income. Also, since he bought land and that has appreciated significantly in no more than 2.5 years we can gather he is in a market where real estate is appreciating. Noting that interest rates are essentially as low as they can go and the best time to use the banks money to buy a house is right now, then right now is the time to buy a house. Also, lets not forget that the house is going to increase his take home pay by $18,900 per year. And he is going to be stuck in the same tax bracket even at 65% of his income so the actual cost of the loan is $5,930 per month which makes it even more doable. Everyone should plan conservatively, but that doesn't mean every financial move you make has to be in anticipation of the apocalypse coming tomorrow. There is risk in almost every financial move, do yourself a favor and see that you are properly insured to mitigate losses but in the end take a few risks, it's only money, plan but don't panic. The financial planner in me says he will be comfortable with the payments, and I could have told him that. But my advice was designed to make him feel he is comfortable with the payments, which only he can do....See MoreHouse Plans in Hand and now the waiting
Comments (19)Thank you again for all the great feedback. I've posted my kitchen plans on the kitchen forum and am receiving some great feedback also. Noted on the stacked stone. We will see what the savings will be if we eliminate it. The shower at the lower level is a utility tub and dog wash area. Not necessarily for human bathing or showering. It will be elevated with warm and cold water. We will have two parking areas at our house. One at the lower garage and one at the front entry of the house. My husband is a creature of habit and likes to come in the mudroom after work, set all his stuff down, change before making an appearance. So the mudroom area is what he specifically designed, for his daily routines. I'm more comfortable parking in front of the house and will not be using the stairs for groceries and such. There may be the occasion were I will but. In all of my driving life, I have never parked in a garage. Not sure if I will start with this new house, but one may never know. My mom lives with us now and has already downsized all her belongings. I've asked if she just wants a shower or to have a tub in her bathroom. She wants a tub. We'll have to think about this one some more. The shower/tub area will be a wet room and curb less. Everything that my mom will need will be on the main level. The laundry room, kitchen, her bathroom and bedroom. The lower & upper levels will be available to her if she wants. The master bedroom doors would be better as a single than French. The wc and master shower doors will open inward. The 180 degree doors was one of those fancy items our designer threw in. Thanks again....See MoreJoseph Corlett, LLC
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