by jwbot 20 Replies latest jw friends
I want that house. After doing the budget, Mike and I could put a down payment on a house loan. Houses are expensive here but land is cheap. So would we be better off building? I like the contemporary styles and would like to use solar power.
How much would it cost to build something like that in the link? I know it varies depending on the area but I have no idea where to start. We could probably afford $150,000 but anywhere from $100,000-$200,000.
You might want to try clicking on the link that says, "Estimate the cost to build this plan".
Silly me. I am REALLY sick at the moment...I will use that excuse...
We looked into something like this once, and realized it would take a lot of money. Start by figureing out the real cost of land. Land by itself might be cheap, but the cost goes up fast when you start adding in sewers, water, power, driveways, landscaping and permits to do all of the above. A local real estate agent should be able to help with figuring this out.
I am in the north east...but those estimates are too high, that is more like New Hampshire, Conn., Mass. Not the center of Maine. BUT it does help me out
When we built our home a few years ago, for our area (midwest) a good estimate was $100 per square foot of living space. It can be double/triple that or more in other markets. Since you're looking at a non-development blueprint you'll have extra costs incurred with purchasing the plans, and you'll need to consider the cost of the lot you want to build on. Our lot cost nearly as much as the house.
A great first step would be to meet with a mortgage counselor and look at what you can be approved for, and then you'll be able to decide what you can really afford and how much of a down payment you'll need.
It's a very exciting and stressful process. Best of luck!
Found it:
| $118,950.00 | $157,950.00 |
The cost is for North East, but in the Bangor, ME area, it would be cheaper. For several acres of land, its about $30,000. For a nice plot thats small, but already set up like in a community, its about the same. Ahh my dream home.
Yeah it will be about 2 years, maybe a year and a half before we REALLY start looking at this. We have to get our credit perfect and save some mad $$. Hopeing to save at LEAST $20K for a down payment in 2 years.
Yeah it will be about 2 years, maybe a year and a half before we REALLY start looking at this. We have to get our credit perfect and save some mad $$. Hopeing to save at LEAST $20K for a down payment in 2 years.
Good for you! Saving for a sizeable downpayment (and avoiding costly extra PMI charges) is so important, and even though it takes some sacrifices it's totally worth it. If you have to eat mac and cheese and ramen to save up, do it. You won't believe the difference the tax break will make in your finances. My other piece of unsolicited advice is that you'll need to budget a pretty sizeable chunk of change for all the things you'll need to fill up all that space! When we started looking at all the little things you need for a brand spanking new house that you didn't consider before it added several thousand dollars to our budget--wood blinds alone for the windows were unbelievably expensive.
It's a nice house--I love the overlooks into the vaulted ceilling main floor areas.
Jbot,
Take or leave it advice.
But my vote on this is to buy a pre existing house and or buy one that is a "pre-buy" in a delopeing neighborhood.
My first house, I had the pleasant surprise of knowing I needed an extra $10,000 at the closeing because the bank didn't figure in on upgrades in the mortage.
My second home, was bought from a drug dealer that got busted.
It's my dream home.
All the stuff that I would have debated in my head about:
Built in Bose system.
Some Bull*hit waterfall decoration do-hicky.
Remote controle bull*hit ceiling fan.
Black marble floors.
I got all of that and bought about $40,000 under the market.
