Home Current News News Archive Shop/Advertise Ridecamp Classified Events Learn/AERC
Endurance.Net Home Ridecamp Archives
ridecamp@endurance.net
[Archives Index]   [Date Index]   [Thread Index]   [Author Index]   [Subject Index]

Re: [RC] Financing barn/living quarters - Beth Walker

Question -- what are the advantages of a combination barn/living quarters, as opposed to building a house, with a separate, detached barn? ( I'm assuming that the living quarters are intended to be the main residence).


On Mar 20, 2007, at 2:03 PM, heidi larson wrote:


As a residential real estate appraiser (Washington State) I
can tell you how it can be easier to get financing.  If the
building looks like a house from the exterior and you call
the whole main floor (stall area) a shop and don't finish
with stalls/horsey living quarters til the final
inspection, it will likely go through pretty well.
Otherwise, they may have to put it through as a vacant land
loan with site improvements that aren't considered
liveable. (At a higher interest rate.) I've not appraised a
barn w/LQ, but have done a shop w/LQ and they are pretty
much the same animal.  Make sure the living area is typical
size for the market. So not under 1200+ sf generally (in
our area anyway.) If the exterior just looks like a house
with a large garage it may fly as a residence.  Then add
the stall doors and walls/paddocks after the final
inspection.  (Like adding a bath in a garage/shop for the
county!)  Be aware, for refinancing at a later date, it may
become a problem and if you sell, the buyer may have
difficulty.  I routinely do appraisals for acreage and
unless they are sent to certain eastern bank underwriters,
I typically don't have problems with having a 5-20 acre
parcel in a suburban area, unless like Beth mentioned,the
property is zoned for smaller lots or a development
potential could create another set of problems.

heidi larson


--- Jackie Hardin <jwinkleman_2001@xxxxxxxxx> wrote:


I had no problems financing the house/barn.  I had more
problems with the amount of property being over 5 acres
with a couple lending institutions.  I ended up going
with a local bank since we are in a rural area.

Beth Leggieri <trailyaya@xxxxxxxxx> wrote:    Having
known friends who went through some agony in acquiring
financing for their projected barn/apartment living
quarters, anyone planning to pursue construction of said
structure should do the homework first.  It may or may
not be possible depending upon zoning codes and lending
institutions' policies.  Better to find out if it's even
feasible for a particular location before contacting a
builder, having plans drawn up, etc.

Beth in Texas

---------------------------------
  Sucker-punch spam with award-winning protection.
Try the free Yahoo! Mail Beta.


--------------------------------- Finding fabulous fares is fun. Let Yahoo! FareChase search your favorite travel sites to find flight and hotel bargains.




______________________________________________________________________ ______________
No need to miss a message. Get email on-the-go
with Yahoo! Mail for Mobile. Get started.
http://mobile.yahoo.com/mail


=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=

 Ridecamp is a service of Endurance Net, http://www.endurance.net.
 Information, Policy, Disclaimer: http://www.endurance.net/Ridecamp
 Subscribe/Unsubscribe http://www.endurance.net/ridecamp/logon.asp

Ride Long and Ride Safe!!

=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=



=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=

Ridecamp is a service of Endurance Net, http://www.endurance.net.
Information, Policy, Disclaimer: http://www.endurance.net/Ridecamp
Subscribe/Unsubscribe http://www.endurance.net/ridecamp/logon.asp

Ride Long and Ride Safe!!

=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=


Replies
Re: [RC] Financing barn/living quarters, heidi larson