| Choosing a log home floor plan for the house of your | | | | and how big the bedrooms, bathrooms, kitchen and |
| dreams involves answering a number of important | | | | dining areas, living room, porches, etc. do you need? |
| questions such as how much will the house cost, who | | | | You can make paper cutouts of rooms and move |
| will build it, and where will you get financing? The | | | | them around experimentally to create a viable living |
| information which follows will help you to answer | | | | space suitable for your own needs. When you bang |
| these and other questions to make your log home | | | | up against your total budget, pare down the "nice to |
| dream come true. In the first place, you have to | | | | have" from the "must have". |
| consider the land. Are you going to find a piece of | | | | Financial institutions usually don't have much |
| land or build on one you already own. Then, you | | | | experience with log homes. Lenders follow Fannie |
| must consider the design. What do you want and can | | | | Mae's guidelines to appraise a property by comparing |
| afford, and how do you want it to look. Next you | | | | its value to that of similar homes which have sold in |
| must consider sources of construction and mortgage | | | | the past year. This can mean the appraiser must find |
| money - how much cash you can put up yourself, | | | | at least three log homes which have turned over in |
| and how much of a debt burden you are willing to | | | | the same county in the past year - hard task iin |
| undertake (this analysis will give you your total | | | | many areas. However, Fannie Mae considers log |
| budget figure). Finally, you must ask how much, if | | | | homes to be in a class with "rustic-construction" |
| any, of the construction you are willing and able to | | | | bungalow style house plans; therefore any rustic |
| do yourself. | | | | home can be used in the comparison (have the |
| If you will have to buy land, then it is wise to use | | | | appraiser or the mortgage loan officer contact FNMA |
| the services of a professional realtor, to avoid hidden | | | | to obtain clarification). |
| problems and unpleasant surprises. Usually the cost of | | | | The final question to answer is how much of the |
| land shouldn't represent more than 20% of the total | | | | work do you plan to do yourself? This depends |
| budget. When considering possibilities, think beyond | | | | wholly on your skills, interest, available time, and |
| just the view, convenience, and privacy. Consider | | | | budget. However, when hiring contractors or |
| whether the land is buildable - whether it has a septic | | | | subcontractors get at least three bids for each item, |
| permit, or soil percolation tests have been done, | | | | and be very specific in what you request. If you hire |
| whether the land is accessible by vehicle | | | | a general contractor, check for bank references and |
| (encroachments / easements) and whether there are | | | | to see whether the contractor is bonded. If you build |
| restrictions on building materials, size, or style. | | | | with helpers you will need to have builders' risk and |
| When considering the design, whether large or small | | | | workers' compensation insurance (and make sure |
| log home plans, imagine what the house will be like | | | | that any subcontractors have workman's comp as |
| from the inside, where you will actually be living, | | | | well). Also, you should allow a 20% cost overrun, to |
| rather than from the outside (how it will impress | | | | be on the safe side. |
| other people). Make a list of your needs - how many | | | | |