Financial Check-Up

Designing a log, hybrid or timber home from the ground up is exciting … thrilling … glamorous, even! And, while it is all of those things, the truth is that there are a few parts of the process that can feel dull or even daunting for those who are new to building. One of those areas is finances.

In order to build that lakeside escape for the family or a mountain getaway for two, you’ve got to first have your finances in order. So before you move beyond dreaming into the first real-life phase of picking out a log cabin kit and designing your home, take our quick financial check-up.

If you can say “yes” to the three statements below, you’re on your way to beginning your log home journey on the right financial footing.

1. You’ve reached out to a financial institution that is familiar with building log homes.
   Many traditional, big-name mortgage companies are not versed in the intricacies of building a log home. A local bank or credit union is often the best place to begin your quest for a loan. You’ll find a few tried-and-true recommendations here. To get a step ahead, check out our post detailing the nuances of financing a log home.
2. You’ve considered the costs beyond the package price and have a clear understanding of what you can afford.
   The cost of your log cabin kit is only the baseline for your log home’s final price. It’s essential that you research costs related to on-site prep work, such as clearing the land, excavating, cutting a driveway, constructing a foundation and installing a subfloor. Don’t forget to factor in costs relating to your utilities, such as installing plumbing, a septic system or digging a well. Additionally, you’ll want to be knowledgeable about what materials are and are not included in your package. Find the comprehensive Ward list here. Lastly, be sure to consider the cost of any upgrades you plan to add.
3. You have a realistic “must-have” list, and you’re committed to sticking to it.
   One of the quickest ways to derail your building budget is to make design decisions without considering your bottom line. This most often comes into play while choosing your finishes. That fancy lighting fixture or those custom cabinet pulls may only be an extra $200, but over the course of the building process, those small things can add up quick. There are a dizzying number of details to catch your eye (and drain your bank account), so keeping a “must-have” list front and center will ensure you make financially sound choices and spend money on what truly matters to you in the long-run — rather than just what looks good in the moment.

Start discussing your ideas for your log home or cabin, and reach out to our team today. We are ready to help you live your best life in a log or hybird/timber home today … and long into the future.

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