Arched Cabins?

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I saw these being advertised as "build your own house for $1000!" Well obviously that isn't true but these still look interesting and really cheap considering how much it usually costs to build a house. What do you guys think? I'd have to take a loan out of the bank but that wouldn't be much different than paying rent would it? I'd have to buy the kit, some property to build it on, and for the labor to have to it built. I already have just about everything I'd need to put in it furniture wise. I make roughly $1700 a month so do you think one of these could be a feasible option for someone who doesn't mind a small home and just wants to get away from their noisy neighbors?

http://archedcabins.com/sizes-and-prices.html

Does anybody know how much the bank would charge in monthly payments if I took out a loan to pay for all this? Would they even give someone like me a loan?

banks are highly variable monsters, and i think loans mostly depend on what your credit its, how long this process is planned to take, how much you need.

i don't know where you live, but finding quiet space for sale would be tough and you may also need to think about permits or contracting especially on the bigger models. plumbing, routing new water, electricity and gas lines if there previously weren't any, etc etc.

unless you plan to transition to a more 19th century style of living.



those do look insanely comfy though.

I know! It wouldn't be much different than living in an apartment, but I'm fine with that. It's not the size that makes me want to tear my hair out, it's the noisy, inconsiderate neighbors.

You can use a mortgage loan calculator to determine how much the maximum amount you could borrow would be. But it’s never advisable to borrow the maximum. Also, you’d need to account for any other debt or payments you have. Etc. From that you’d better be able to determine if you could afford land, a kit, labour, all the requirements to connect to the grid, and then the monthly pmts on everything - including utilities & property taxes.

Also, building loans are usually different than mortgages - shorter term and higher interest. It’s riskier for the bank to finance a build than to buy an existing home because they know what the value of the existing home is, but they have no idea if you’re going to build what you say you’re going to, on time on budget, and to what level of quality. So, buying a kit of any sort of small home or prefab home that isn’t completely assembled yet will likely be a more expensive borrowing cost IF they will finance it. Then once it’s built maybe they’d assess the property and the home and convert the building loan into a mortgage with more preferable terms. I don’t know this all to be fact, it’s an educated guess. You’d have to speak with a local mortgage broker or bank/credit union loan officer to find out what’s possible.

Very rough math, though, is that they don’t like to loan people money for housing that consumes more than 1/3rd of their income. So, in your case the max payment you’d likely be approved for would be around $550 or so per month. They may want that to include utilities and taxes, too. So, it depends on your local prices of heat/other services, property taxes, and of course the property itself. If you live where developed property with city services is very inexpensive, this may be a possible option. But the land would have to be very inexpensive for you to possibly qualify for the loan to buy it, like 10’s of thousands not hundreds of thousands.

It’d be totally impossible where I live because building lots for detached homes in the suburbs are now selling for more the $1M soooo no. But I live in the least affordable real estate market on the continent. You may live where a building lot costs $50k & so then maybe your idea isn’t so financially impossible. You’d need to provide a lot more info and numbers to figure out of this is even possible for you to consider at your income level.

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White noise generators, noise cancelling headphones, and earplugs are all cheaper than moving.

If your neighbours are horribly loud, but not illegally loud disturbing the peace or making noise very late at night, then maybe moving to a quieter apartment is ideal.

Its probably also much more realistically affordable on your income than buying land and building a tiny home on, too.

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No for supporting trump. Because doing so is deplorable.

I want to get one of those cabins. They have a Germanic charm to them.

I love the little cabins. I live in a very small house away from others. It is 100% worth it to me. The quality of my life is much higher without noise and lots of people around.

You might not be able to afford it right away, but I think it is worth trying for if that is what is in your heart.