Friday, July 5, 2013

"There is Always Another Way"

No one can make you do anything
Violence is always an option
There is always another way
-- Orlanthi sacred laws

 
A first decision anyone looking to purchase a home must make is whether to buy one from someone else, or go for new construction.  Trish and I started out looking for an already built home for the following reasons:
  • it's environmentally sound
  • there are lots of people out there trying to sell off underwater houses
  • taking out a construction loan and acting as a general contractor -- "Are You Nuts?!?"
On the other hand, we also had a lengthy wish list of "must haves" and "nice to haves" and "don't cares" and "Do Not Wants".  I expect Trish or I will post that soon.  Our choices are quite different from most buyers.  And it turns out that although we could finance a mortgage on a mansion, a house which meets our minimal requirements only comes on the market in Eastern Mass once or twice a year.

But... "There is always another way." [1] So we will be neither buying an already built home nor taking on the risk of new construction.  Instead, we're working with Mike Salvador.  (You can see a link to his web site over ---> there.)  He is buying a lot and building a house on it.  He is working from a plan created by Shane Structures (also over ---> there), and customizing it to suit our needs.  He will then sell it to us.

Is this risky?  Yes, for both of us.  Lots of things can go wrong on a building site.  He could go bankrupt and we lose the deposit.  We could lose the ability to get a mortgage in six months and he's stuck with a white elephant of a structure no one else wants to buy.  But that's why I'm a professional worrier.  We're currently working on the paperwork to minimize the risk to both sides.

Another way Trish and I minimized our risk is that this is not the first time Mike has built from these plans.  We visited another homeowner, who raved about his work.  And it's a lovely home.

The outside:


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The other two rules ("NOCMYDA" and "VIAAO") are not especially appropriate for housebuilding. But I digress

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