New from Sierra Nevadas

[cruisershop]

Hi GJ,

My name is Burl and I'm looking to buy a home/land in the next year or so. Not sure if I want to buy bare land and build a barn/shopdominium or find an existing home.

In the area that I work the home prices are stupid expensive and just going by the dave ramsey recommendations the numbers don't add up for making a home purchase with my income. GS7 government pay with literally 0 debt to income ratio. Commuting from Clovis/Fresno is cost prohibitive due to the fuel cost and risk of living in town. Not Paranoid just don't feel that the Fresno area is an ideal place to live/start a family.

My realtor mentioned to me the other day that western homes can purchase bare land for you and roll the land loan and their construction loan all into 1 packaged loan. This option intrigued me because I have found several lots that have all the facilities needed like power, well, and septic. These lots are relatively cheap compared to complete homes.

For starters if anyone has any information on any other home/steel building contractors that do this same type financing I would greatly appreciate the info. I have seen some of the types of barndominiums that you can get out of a steel building and for the price it seems like my best option but a financing deal like western homes does would be necessary.

Thanks,

Burl

 

[1/2 Cup]

Hello and welcome aboard Burl, I am sure one of our learned members can help, any way enjoy the forum.

 

[rburke65]

Hello Burl and welcome from Ohio!

 

[Troutsqueezer]

I would just say this, speaking from experience, buying bare land is fine but you have to be prepared to fight your way through all kinds of obstacles to get a house up and running. There are so many government entities and contractor issues that will pop up at every turn and make your head spin. Various fees and restrictions will frustrate you from start to finish. If I had to do it again, I'd buy something already built.

I might mention, there's no such thing as "Sierra Nevadas". Sierra means "mountain range" and there's only one Sierra Nevada. Picky... I know. �� its a character flaw...

 

[XxToolAholicxX]

Hello Burl and welcome to Thee Garage Journal....
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I am a ToolAholic,Sometimes I regret it,Especially when the ToolMan wont give me no credit

 

[drivesitfar]

Burl: I think if you have a good builder that can get all the permits necessary and a piece of land that doesn't have any issues then just getting an all in 1 loan used to be the mortgage to get. so essentially any builder might be able to do your new home.

Now I stopped selling as a Realtor in 2007 because the banking industry wasn't predictable or fair so those loans might have disappeared. also Troutsqueezer has a point the finding a good piece of land and a good builder are not always something easy to do.

might i suggest reading threads in the garage gallery and finding ones being built in the area that you want to live and ask your questions on those threads to get more specific answers.

good luck