Construction Details
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EatSmart Digital Nutrition Scale – Professional Food and Nutrient Calculator $68.99 NEW FEATURES (as of February 2010) – Now features a white backlight to fully illuminate the display for easy readings. Weigh capacity has been increased to 11 lbs. to allow you to weigh most things in your kitchen! The EatSmart Digital Nutrition Scale analyzes the nutritional content of ANY food by portion size and was designed by an unparalleled team of medical professionals. The database stores… |
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12×12 Vacuum Form Machine – Plastic Former for Model, Mold, and Prototype Forming $129.95 Our 12″x12″ Table Top Vacuum Former is perfect for small businesses and hobbyists who want to create parts in plastic up to 1/8″ thick. Produce intricate shapes with results that rival expensive commercial machines in their incredible accuracy and detail: prototypes, custom packaging, RC car bodies, model rocket nose cones, molds for plaster or concrete, chocolate and candy, candles, and soap maki… |
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Safavieh Arion Ring Gray Side Chairs (Set of 2) – MCR4514A-SET2 $1,512.00 Safavieh Arion “Ring” Gray Side Chairs (Set of 2) From formal English manor homes, casual beach bungalows, to slick modern city penthouses, Safavieh covers it all. Every style, Every Price. For four generations, the family behind the Safavieh brand has dedicated its talents and resources to providing uncompromising quality. We believe there is no equal to the durability, beauty and artistry of han… |
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The Renewing of a Vision: The Meyer May House By Frank Lloyd Wright $75.00 The Meyer May house, a 1908 Prairie style home designed by Frank Lloyd Wright, was completely restored to its original condition by Steelcase in 1987. The program traces the step-by-step restoration of this architectural gem. Art historian Vincent Scully, who appears in the documentary of the May House restoration, The Renewing of a Vision, calls the Meyer May House, “a strange, moving kind of rui… |
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Pondless Waterfall Construction $25.28 Learn to create a disappearing waterfall and stream using the Aquascape Designs’ Snorkel Vault and Centipede Module…. |
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First Alert Escape Ladder-Variation … |
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Plastic 12 Goniometer 360 Degree ISOM – 12 $5.00 One Plastic 12″ Goniometer 360 Degree ISOM – 12″ Best Value Listing is for one goniometer. Other sizes available at comparable savings. Visit our store for combined shipping and greater savings…. |
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Youngstown Glove 03-3450-80-L Waterproof Winter Plus Performance Glove, Large, Black $24.49 Working gloves need to be tough and durable, but comfortable to wear and use. Youngstown gloves are made of the highest quality, man-made materials to create a glove that is form fitting, lightweight, breathable, washable, comfortable, and tough. They are designed to be the best working gloves you’ve ever owned. Waterproof Winter Plus gloves are a perfect winter work glove, with an extensive non-s… |
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The Evidence $1.99 … |
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The Emerald Forest $6.72 John Boorman’s 1985 South American epic never quite gets all of its gears working simultaneously, but it remains an often startling work with an extraordinary performance by the director’s own son, Charley Boorman. Powers Boothe plays an American engineer working on a dam project in Brazil. When his young son is seemingly absorbed one day into the dense perils and beauty of the Amazon rain forest,… |
Owner Builder Construction Loans: The Three Imperatives
Owner Builder construction is a great way to build instant equity into your new home by eliminating the costs of a General Contractor. In fact, cutting the overhead of a licensed general contractor can save an owner builder anywhere from ten to thirty percent on construction costs. That’s tens of thousands of dollars in instant equity for an owner builder.
However, owner builder construction loans are a tricky animal. Not only are the very difficult to find, but they can also be a lot more complicated than the typical purchase or refinance loan. Indeed, owner builder construction loans can be a lot more complicated than even a regular construction loan.
Therefore, if you are considering being an owner builder and managing the construction of your new home, then you need to make sure your owner builder financing has the following three features. These three owner builder construction loan features are imperative to the success of your project.
1. Owner Builder Loan Imperative One: A Line Item Budget with Unlimited Draws
Owner builders don’t sign a contract with a licensed general contractor to build their home for them. Instead, an owner builder must put together a detailed budget of the costs to build their new home.
If you are building your home with a licensed general contractor, the construction loan will typically have a fixed number of construction draws to fund the project. For example, the loan may have only five draws that are issued based on the percentage of completion of the home. Therefore, the builder will have to fund the construction until a draw can be taken.
For owner builders, though, this is usually not possible. Owner builders can’t fund construction out of pocket, relying on taking only five draws during the course of the project.
Instead, if you are going to be an owner builder, you are going to need the ability to take an unlimited number of draws during construction, based on the specific itemized budget that you put together during the planning phase.
With an owner-builder line item budget, you can take loan draws every step of the way. When you clear your land, you can take a draw. When dig the hole for your foundation, you can take a draw. This way, owner builders don’t have to carry the costs of construction out of their own pockets. Not having an itemized budget with unlimited draws is a recipe for disaster for owner builders.
2. Owner Builder Loan Imperative Two: The Owner Builder is in Control of the Draws
With typical construction loans, the general contractor will request the loan draws. Many times, the borrower will be required to sign for the draws in addition to the general contractor. However, even in this case, the general contractor has fifty percent of the control of the construction loan draws.
For owner builders, this is not an option. An owner builder needs to be in complete control of the loan draws. The sub-contractors should not be allowed to have any say over the draw process.
As long as the owner builder is the only person who can request the draws, without input from the sub-contractors, then there is no chance of the sub-contractors getting paid until the owner builder is fully satisfied with the work that they did.
If a sub-contractor gets paid prior to doing satisfactory work, the poor owner builder will never get his house built. Instead, you’ll be out of money before the roof is on.
Therefore, if you want to be an owner builder, ensure your construction loan is designed to keep you, and only you, in charge of the construction draw process. If you can do this, then you will never have to worry about giving money to one of your sub-contractors before they have finished the job.
3. Owner Builder Loan Imperative Three: Minimizing Your Loan Down Payment
Every Construction Project has cost over-runs. Sometimes, those extra costs won’t be fully covered by your construction loan. Therefore, it’s imperative that an owner builder has some cash set aside to be fully prepared for any small cost overages.
If your owner builder construction loan requires no down payment, or even a very small down payment, then you can keep as much cash as possible in your own pocket for the construction phase.
If you want to put the money into your construction loan to keep your monthly mortgage payments as low as possible and keep your equity as high as possible, then make sure your owner builder loan will allow you to pay down the balance at any point during construction.
Therefore, if you have no down payment, you can keep the money in your bank account to protect yourself from cost overages. And, when you are safely finishing your construction on budget, you can use that money to pay down the balance of your owner builder construction loan prior to converting over to your permanent mortgage. This way, you’ll be protected and have a smaller monthly mortgage payment.
Most construction loans require at least a ten percent down payment. In fact, many require a twenty percent down payment. However, if you can find an owner builder construction loan that will require little to no down payment, you will be well ahead of the game.
It’s possible for owner builders to minimize their down payments, because a good owner builder construction loan will cover up to 100% of their costs as long as there is a large spread between the cost to build and the finished value. (There should be a very large spread between the cost to build and the finished value if you are an owner builder, cutting out the overhead of a general contractor.)
Therefore, if you want to save tens of thousands of dollars by building your own home without hiring a general contractor, then you will need to find the right owner builder construction loan.
These loans can be difficult to find, and they are almost always a bit more complicated than a typical purchase loan. However, a good owner builder construction loan will always have these three essential features: a line item budget with unlimited draws, owner builder control over those draws, and a minimal down payment requirement.
About the Author
Chris Esposito provides owner-builder construction financing nationwide through his Owner Builder 101 program. Visit www.OwnerBuilder101.com to get all the information you need to be a successful owner-builder, saving tens of thousands on your next home. Or call Owner Builder 101 at (877) 876-3688.
construction details of an outdoor toilet for the disabled?
the toilet needs to conform to bs8300 doc m pack see www.phlexicare.com
hope this helps
GEET Reactor Construction Details
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