We built a log cabin that is CLOSE to our dream log home, but a few things are lacking. Here are a few things that we would do differently if we were to build a log home again.
Here I summarize our personal experience with log home financing, as well as provide information and tips that will hopefully help you finance your log home.
Need more space in your log home?... Consider a walk out basement! Here are some great reasons to consider building a log home with a basement, plus tips for building your basement while still staying within your log home budget.
Despite the fact that the Log Cabin Society of Michigan has been trying for the past 10 years to get a log cabin featured on a U.S. postage stamp -- no no avail -- the U.S. Mint has decided to put a log cabin on the U.S. penny!
It's been about 2 years since we started the process of building our log home. We had the land picked out, the bank picked out, the GC picked out, the builder picked out, the logs picked out, the floorplan designed the way we wanted it, and we even started clearing the land. Then why isn't our log home done yet? Why haven't we even raised the first log yet?
The first official sign that construction is about to take place on our new log home site: the posting of the Building Permit! But it was a day of highs and lows, thanks to a series of tornadoes that hit in Williamson County the night before.
We got our Building Permit today. Who knew the cost for a Building Permit in Williamson County TN could be so much?... $9,177! It's mostly due to the county's Privilege Tax. And boy do we feel privileged to live in Franklin, TN!
This past Fall was a very difficult time for us to try & get a log home construction loan to build our new log home. There were several reasons for this -- all spelled out here.
No, we haven't secured our log home loan yet. But the good news is... time is on our side. Because the mortgage rates have already come down since our previous closing date in October of 2007, and they are projected to drop even more in the coming months.
Before we could close on our construction loan with the bank, we had to submit proof of 'builder's risk insurance' to the loan officer. We THOUGH there would be a simple builder's risk type of policy from the insurance companies that would cover things like 'theft of materials', 'new construction theft', and 'dwelling under construction. What we found was most insurance companies wanted you to buy a complete homeowner's policy with them instead.
