Not only are the things worth having in life not free, they can also cost the earth. Buying their own home for example, is one thing that many people would like do but very, very few can afford because of the high prices of everything from construction materials to that can of chartreuse color you want to paint your living room walls with. Of course, you would still need to hire people who will actually build the house for you and make sure it's not going to turn out to be a death trap in the event of natural disasters.
So you've decided you want to build your own home and opted for something cheaper like a kit home, which is actually pre-built in a factory and delivered to your preferred site, where all you need to do is assemble it according to the instruction manual that comes with it. It's a project that you can do either by yourself or with the help of expert builders depending on whether or not you have the budget for it. It has become a popular option with most new homeowners because it saves you a lot of time and money, not to mention it is more customizable than a traditionally-built home.
But even something less expensive like a kit home will still entail some considerable costs in some areas. For one, most lenders don't loan money for kit home constructions and most kit home manufacturers want to be paid before they deliver your kit home but if the banks won't lend you money, what can you do?
In situations like this, it seems like even owning one is far from possible but the thing is, there are ways and means that you can still get your loan and be able to build the kit home of your dreams. When you want something really bad, ฝากขายคอนโด fate always has a way of making things work out for the best. They are considered to be high risk by banks because if something goes wrong during construction, only the land where the kit home is being constructed is left as the lender's security and most of the time, this is worth less than the amount they lent.
Your first option is to pay for the kit house funds up front and then get a specialist mortgage broker to help you fund the construction via regular progress payments. It is important to note that you need to hire a licensed builder to help you with the construction because what will happen is the bank will release the funds to the licensed builder who is helping you construct your kit home in progressive payments. You can only do this though if you have enough funds to pay for the kit up front.
In case you don't have sufficient funds available but are using a licensed builder, then you must check with the manufacturer if they have payment options available that will allow you to pay for the home upon completion or if your licensed builder can pay for the kit himself and include this cost in his progressive payments from the bank. Most kit home manufacturers allow extended payment terms as long as you are able to pay the first 25% of the kit and the bank has approved finance for the completed home.
First time home-buyers can usually borrow up to 90% of the land value plus the cost of construction, which is the same as investors. Remember that financing a kit home isn't the same as financing the construction for a traditional home so you must make sure that you understand the terms and conditions of purchasing one from your chosen manufacturer and be clear about financing options you can take to ensure your home's construction from start to finish.
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