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Help Support Hardline Crawlers :
Metal building with living area
- Thread starter TNGreg
- Start date
jimbo0076
Well-Known Member
I'm pretty sure TBIToy lives in something very similar. Maybe he'll see this and give his info
hokie_yj
Well-Known Member
I didn't build it but I live in a 30x100. 30x45 is house 30x55 is shop. There's a thread on here somewhere with some pics of mine. I love it, and would absolutely do it over again.
Chuck19
Well-Known Member
My brother in law built one a few years ago it is super nice if you want to go look at it he doesn't live there anymore but I know the new owner I think I could or kit out. And if I had to move from were I am I would seriously consider it!
My business partner is planing to do this in the next few years also.
My business partner is planing to do this in the next few years also.
TBItoy
Well-Known Member
Re:
Yep I live in a 42x60.
Front half is the house.
Mine is a pole barn with a slab. Drain pipes stubbed through slab.
Only "issue" I've had was getting accurate appraisal since appraisals are based largely on what similar houses sell for, and no one in my area that lives in a shop-house has ever sold it. There are 4-5 similar setups house/barn/shop (metal exterior) within 5 miles of my house.
I wish I had built 42x120!
The best part is being able to walk directly into a full shop from my dining room.
Worst part is keeping the filth out of the house when you are doing a big fab project with lots of grinding and such.
Yep I live in a 42x60.
Front half is the house.
Mine is a pole barn with a slab. Drain pipes stubbed through slab.
Only "issue" I've had was getting accurate appraisal since appraisals are based largely on what similar houses sell for, and no one in my area that lives in a shop-house has ever sold it. There are 4-5 similar setups house/barn/shop (metal exterior) within 5 miles of my house.
I wish I had built 42x120!
The best part is being able to walk directly into a full shop from my dining room.
Worst part is keeping the filth out of the house when you are doing a big fab project with lots of grinding and such.
hokie_yj
Well-Known Member
TRUCNUT said:
Haha!
cgodfrey
Well-Known Member
I'm planning a 60x80 with 35x60 being living quarters. So far every financial institution that I have asked about financing have looked at me like I'm crazy....anyone else have a similar experience? Or knows the best/easiest way to finance the building? Any help is appreciated. Thanks guys
hokie_yj
Well-Known Member
Financing was an adventure for me. First i went the local credit union where I bank to get pre-approved. I told them exactly what I was looking at buying. They said sure, no problem. Then after I made an offer and had a contract and went back to finalize the decided they would loan on it because it wasn't a traditional built home. I had to scramble to find a bank willing to loan on it. I tried several, one of which was Wells Fargo. They all turned me down. I finally met the Vice President of a small local bank and she was willing to help push it through. They only originate the loans then sell them. Mine was sold to Wells Fargo. Lol
cgodfrey
Well-Known Member
hokie_yj said:
Appreciate that info. Sounds similar to what we have faced so far. Most of the larger lenders in my area turned us down right away but we have a meeting set with a local bank and hopefully we can get it done.
Neal3000
Well-Known Member
Re:
I always thought you had the perfect setup when you were a bachelor, How is it now that you have a family?
TBItoy said:
I always thought you had the perfect setup when you were a bachelor, How is it now that you have a family?
TBItoy
Well-Known Member
sledneck said:
I have TN Farm Bureau. Zero issues with getting insurance, and I definitely didn't try to "hide" anything to get a policy, I wanted to make sure I was covered.
Since the electrical all passed code, it's no different than having a big garage attached to a "regular" house.
really the only difference is that my house has a metal exterior walls and is a big rectangle, rather than have 14 different roof pitches and vinyl/brick/hardy board on the walls.
Now, my tax statement says its a 40x60 "Garage-Finished" + 8x20 "Open Shed"
I was like WTF, where is this "shed" that I have?!
Then I realized the shed was my front porch laughing1
Neal3000 said:
I used to have concrete floors throughout the house, and outdoor carpet in the bed rooms... Which was great when 3 dudes lived there and we partied all the time and built lots of **** in the shop.
After the roomates moved out and I got married, I had planned to put carpet/tile/vinyl something down.
When the wife and I decided to get pregnant, we made plans to carpet the whole common living area and bed rooms, and put down tile pattern sheet vinyl in the kitchen and bathroom. Didn't want to spend too much $ on something that isn't "permanent".
It's a hell of a lot nicer inside now, the wife is happy, and the kid can crawl/fall pretty much anywhere in the house
My wife also parks in the shop now so I keep the it a lot cleaner than I used to. Still have plenty of room to keep the crawler inside and work on it, I just pull my wife's 4runner outside if I'm going to do any welding or grinding.
Eventually we are going to build a "real house" with a basement and the shop-house will revert to being a shop/man cave.
I've had Dad's backhoe and skid steer at the house for the past couple weeks, clearing in the woods for my new house place, making and burning huge brushpiles, and building up berms/dugouts for my shooting range.
A lot people in my general area do the same thing. Mostly to buy large property then have a place to live while their permanent home is being built.
What I've learned here is if you tie the construction loan in with your land loan at the same time, which it doesn't sound like that's what you're doing, your home builder can figure in the budget for the entire build under one umbrella.
So you contract with the bank for the total amount of building your shop as well as your new home only you build into the budget the cost of your builder to finish out living quarters in the shop first.
It seemed fairly easy when we discussed it a couple months ago.
In reality, verbally the bank doesn't hear you discuss your ideas at the table, the builder just submits a dollar loan amount and the bank says OK. does that make sense or help in any way? Lol
What I've learned here is if you tie the construction loan in with your land loan at the same time, which it doesn't sound like that's what you're doing, your home builder can figure in the budget for the entire build under one umbrella.
So you contract with the bank for the total amount of building your shop as well as your new home only you build into the budget the cost of your builder to finish out living quarters in the shop first.
It seemed fairly easy when we discussed it a couple months ago.
In reality, verbally the bank doesn't hear you discuss your ideas at the table, the builder just submits a dollar loan amount and the bank says OK. does that make sense or help in any way? Lol
Neal3000
Well-Known Member
Thats cool Nick, your actually following through with the plan that so many people dream of....
cgodfrey
Well-Known Member
LightBnDr said:
This helps clarify some things for me. In my situation the land is already owned, i will only need financing for the construction of the building and livings quarters in which i will need to submit as whole to the bank i assume??
gottagofast
Well-Known Member
- Joined
- Dec 11, 2015
- Messages
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OR maybe you could mortgage the land and use that $ to build the shop.
I think my father in law used the equity in their home to build his shop when he retired. I think that banks get stupid and weird when you say what you are wanting to do.
So that's where a home builder comes in handy because they can envelope an entire project under one construction loan.
I don't really have any more experience or advice. Lol
I'm in the middle of it too but we aren't planning to live in the shop for any period of time but if we wanted to while our home is built, it's easy to just say do it to the builder because the entire loan amount is approved.
Good luck man
So that's where a home builder comes in handy because they can envelope an entire project under one construction loan.
I don't really have any more experience or advice. Lol
I'm in the middle of it too but we aren't planning to live in the shop for any period of time but if we wanted to while our home is built, it's easy to just say do it to the builder because the entire loan amount is approved.
Good luck man
TBItoy
Well-Known Member
Re:
Open a line of credit against the land, borrow, build, then mortgage the building+land at a great interest rate and pay off the LOC.
That should be an option
Open a line of credit against the land, borrow, build, then mortgage the building+land at a great interest rate and pay off the LOC.
That should be an option
truckbroke
Well-Known Member
I`ve looked into this a lot here lately. Their calling them Barndominioms. I can build a 50x60 20' walls big open floor plan with loft style bedrooms for the kids, stained concrete floors for 130K complete!! Can`t touch that price on a stick built home. My question has been what you are telling the bank at closing? I see what you are saying by getting a construction loan to build a shop on your land but, at some point (like closing) won`t you have to let them know its a home not a shop for a good low interest rate?? State farm has no problem insuring it and its actually lower than a stick built home.
