Thursday, August 30, 2007

First Bid

This was a nice occasion. The guy was friendly and the wife liked him. He was very personable and willing to give out ideas. The carport/shed starts out with cedar/treated wood framing on a slab. Then, it is basic metal roofing and 4x8 sheets of hardiplank. It will have a terminal or space to put future wiring for electric. Then, it will be estimated with a 10" overhang door (garage door). He figured in a gabled roof, or one that has a mid ridge and then goes down both sides. Instead of corrugated see through roofing, he recommended windows like thin transom windows that go along the top of the walls, for privacy, but some light still. The size will be estimated at 33 feet long by 18 feet deep. Hopefully that will be plenty.

I also asked him to write up a bid for my brother to have a covered slab that is 12x16, which he eventually wants to put a BBQ pit on.

I hope to hear from him by next Wednesday with some $$$ figures that hopefully are closer to $.

I almost forgot to say, I talked to him about the house plans, as he is a house builder, and he was able to give me some financial advice. I told him that I was thinking about starting off the project in sections as I was able to get enough money to pay it off as I go. Then I would get a mortgage/loan to pay the rest off and get it done. I'll be chomping at the bit at that point, I'm sure! He said that some lenders do not like to be surprised at the fact they are supposed to fund a partially built "project" and have the liability of paying out the rest, not knowing the quality, etc. of the current structure. He said that sometimes they will do it, or recommend a personal loan for the remainder of the money. The other way he said it could work is having a lender involved from the start, but let them know the plans and if they want to inspect the work as it goes on. Then they may be more willing to give a mortgage for the remainder of the amount when that time comes. I'll have to take that all into consideration.

Our next bidder is scheduled for Saturday.

2 comments:

Anonymous said...

Hi J & D,

How about a construction loan? Have you thought about that? I know next to nothing about them, but it may be an option for you, considering what the guy said about builders & partially built projects.

Thanks for posting the blog. I enjoy reading about the progress of the homestead & the property looks very nice. I'm very excited for you, building your home from scratch - very awesome indeedy.

:)
Maria

Cedar Creek said...

Yes, I have thought about that. I'm waiting just a little bit for that. I want to put down some $$ up front for the building, as much as I can. Then, I can go from there. I have so many ideas as to directions I can go from here.

I'm glad you enjoy the blog! I'm excited about the process.