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Financing a barndominium

12,532 Views | 14 Replies | Last: 5 yr ago by Leander - Ag
SpillersEG
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I am 29 and building my first barndominium but I honestly don't know where to begin when it comes to financing. I have heard you can get a construction loan but you have to put 20% down, I don't know about you but I don't have $36,000 laying around. I know barndos are getting really popular, I'm just hoping for a better option. Any feedback is very helpful.
JamesBREI06
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AG
Is this for an investment or primary residence?
Whoop!
Deats99
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AG
Shoot me an email(profile). We have some options depending on your circumstances.
-Jeff
A good plan violently executed now is better than a perfect plan executed next week.
-George S Patton
SpillersEG
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This is a primary residence
jja79
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AG
Using a builder or acting as GC yourself?
SpillersEG
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Yes i will be using a builder
jja79
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AG
Email on profile. I'd like to talk to you about this. We've got about 530 custom build jobs going now that we're providing financing for and probably 15 or 20 are barndominiums so it's something we do.
aggies12thman
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AG
What is the price per sq/ft for a 3/2 barndominium these days with moderate upgrades (granite etc.)?

Is it close to a general home square footage? 100-150 per foot?
AgProgrammer
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AG
It's hard to calculate when you have a shop rolled in with the dirt work/slab and metal building build out cost. We are finishing up building a barndo in CS with 1900 sq ft of living space, 3400 sq ft of shop, 900 sq ft of porches and 500 sq ft of concrete parking. We finished out the shop as well as the living space ourselves (electrical, plumbing, painting, trim work, window treatments, metal stairs, fixtures, cabinets). We contracted the living space framing, spray foam, sheetrock/texture, HVAC, septic and concrete sealing.

Best I've been able to calculate, we'll end up right around $75/sq ft for the living space and $35 sq. ft for the shop part. I'd say we did go "higher end" on a lot of the finishings just because we were doing it ourselves and saving the money on labor.
BCS AG 2012
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AG
BCS AG 2012
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AG
Who built it? I am looking into one myself.
PFG
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AG
Question for Barndo lenders...

How does potential life span of the structure factor into this? I can't imagine the metal structure ages well as compared to a masonry home. Even on a siding built house, you can strip and re-plank the exterior skin. Can that be done with a metal structure?

Just wondering how these are going to look 20-30-40 years from now. Resale seems sketchy.
emtes
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AG
I think resale is the general reason most lenders tend to steer away from barndominiums
Leander - Ag
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AG
Looking to build a barndo outside Caldwell on 15 acres if anyone knows someone good in the area.....
giddings_ag_06
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AG
Call Doug Gaeke with Gaeke Construction out of Giddings. Has a ton of experience with home construction and can at least give you an estimate or whatever you want.

Tell him Drew referred you.

979-542-8161 (cell)
Leander - Ag
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AG
Thanks
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