The Mansfield – DE010

The second of our newest plans is the rare one story Italianate inspired home design, the Downing. While the elevation is a completely new and deceptively small in appearance, the floor plan is a modified concept of the Collins-DE099 and Letcher-DE082 plans. At roughly 2,378 square feet, it is a fine choice for a retired couple who want to downsize to a comfortable space or a small family of four. It has 3 bedrooms, a Study, and a huge bonus room over the garage that can serve many purposes.

The Downing – DE012

We have dozens of floor plans and designs to choose from, so stop by our stock house plan section (on our main menu at the top or bottom of this page) and look around. You may just find your dream home!

Front /left elevation view

Front /right elevation view

Overlooking the family room into the breakfast/ kitchen area

A view from the family room into the breakfast kitchen area

If you’ve missed earlier post on this construction process start here: “Home Under Construction“. Visit the plan detail page of this house to see the floor plans and a video of this traditional home building plan which features additional photos.

Some fees involved in refinancing a mortgage include percentage rate reductions and broker profit points. Financial advisors recommend negotiating certain charges to achieve lower monthly payments. It is extremely helpful to understand the concept of refinancing before discussing applicable charges.

Brief Refinancing Overview

According to the Federal Reserve Board, the act of refinancing a mortgage pays off existing loans and creates another one under new terms. Combining first and second mortgages creates lower monthly payments for some homeowners. Customers refinance with current lenders or change to other companies offering better percentage rates. Individuals hoping to refinance must meet the following criteria:

- Applicant credit scores must be at least 620. Most companies will not work with individuals who possess poor or mediocre credit.

- Home equity must be approximately 20 percent or more. Total refinanced amounts cannot be over 80 percent of the current appraisal value.

- Applicants must have a record of on-time payments for periods that vary depending on the lender.

Why People Refinance

Homeowners refinance for a vast number of reasons. Many welcome the opportunity to ease financial burdens, while others move from Adjustable (ARM) to Fixed Rate mortgages. When the assessed value of a property is more than outstanding mortgage amounts, homeowners use cash payouts through cash-out refinancing to pay for educational and recreational pursuits or residential upgrades.

Application Process

Applying for mortgage refinancing is gruelling as the initial mortgage process. Homeowners release employment and financial information after shopping around for the best rates. Fees added to base loans create new monthly payment amounts but careful negotiation results in adjustments or omissions in some cases. The Federal Reserve Board and consumer guides indicate that refinancing homeowners frequently encounter the following fees. Prices are current as of November 2012.

1. Application fees of $75 to $300 United States dollars (USD) are non-negotiable and non-refundable.

2. Appraisal costs add between $300 and $700 USD to the application process. Homeowners may be able to sidestep the charge by producing recently completed independent appraisal forms.

3. Document-recording charges range from $350 to $700 USD or more but customers can request the reissue of various forms.

4. Points either average one percent of the mortgage loan and lower percentage rates or make money for lenders. Lenders are happy to adjust this easily negotiated charge.

5. Inspection fees of $175 to $300 USD encompass pest checks and water tests. Each locale has specific inspection requirements.

6. Special interest refinancing programs available to service members or individuals in rural locales include additional fees ranging from 1.5 to 1.75 percent of total loan amounts.

7. High-risk refinancing that covers more than 80 percent of assessed property values requires private mortgage insurance (PMI). PMI fees range from .5 to 1.5 percent of total loan amounts.

8. Homeowners insurance provides coverage in the event of natural disaster or human misdeeds. Policies ranging in price from $300 to $1000 USD protect lender investments.

9. Property taxes must be current to approve refinancing. Homeowners may need to place varying annual or semi-annual amounts in escrow accounts.

10. Credit report fees average between $25 and $65 USD per couple or individual. Applicants can request lowering the charge considering many lenders receive discounted credit report processing rates.

Financial experts recommended closely examining all charges on refinancing documents. Homeowners should not hesitate to point out duplicate or unreasonable amounts. Consumers have the right to delay contract signings until they feel comfortable with document terms and conditions.

Resources:

http://www.federalreserve.gov/pubs/refinancings/default.htm
http://online.wsj.com/article/SB120293045810166013.html
http://www.smartmoney.com/spend/real-estate/4-costly-fees-to-watch-out-for-when-refinancing/

A permanent home standby generator is a perfect solution for homes that experience frequent power outages.

Hurricanes have become more frequent and are appearing in many more areas of America. Superstorm Sandy (Oct 2012) which hit several north east states along the upper eastern seaboard is just one example of this phenomenon. Homeowners whose home is not damaged or affected by the harsh weather often times suffer through power outages for days on end. A home without electricity, especially in the winter months is a tough place to reside. Generators have become a precious commodity and gasoline even more. While a portable generator is valuable in these types of situations, a permanent home standby generator is perhaps invaluable.

A standby generator provides a back-up power source for as long as you need it. They are connected to a propane or natural gas supply line and use an automatic transfer switch to monitor your utility power. From the time you lose power, the generator starts without you having to lift a finger. So if your home survives a storm and/or a major power outage, you can breathe a sigh of relief knowing you will have back-up power in your home through certain areas designated in your homes’ electrical panel.

Permanent home standby generators are sized according to their wattage output. So the more power you need, the bigger the unit. The bigger the unit, the larger the price.  A small unit operating about about 7 to 10 kilowatts may run $2,500 – 5,000.  A mid-sized running about 12 to 20 kilowatts can be up to $10,000 or more while a large standby generator with  22 to 45 kilowatts of power will easily be $15,000 plus. Labor cost is in addition and can vary by location.

As you can see, they can be pricey. However, the cost is only relevant to your particular needs and means.  Ask yourself these questions to quantify your decision:

1. Do you live in a area with frequent power outages?

2. Do you live in an area where hurricanes and other bad weather affect your power situation?

3. Do you rely on electricty to run medical equipment at home?

4. Do you work from home?

If you answered yes to any of these question, then you have a good reason to consider adding a standby generator to your home.

Deciding what you want your generator to power will determine the unit size. You can elect to go for a bare minimum of essentials (“emergency system”) like your central air conditioning unit, the refrigerator, and a few electrical outlets. This setup will use a small or mid-sized kilowatt unit.  The high kilowatt mid-sized or larger generators can power your entire house on what is know as a “load-management system”. There are options in between but the aformentioned are the extremes on both ends of the spectrum.

Having a standby generator can make life a lot easier during a time of power outage. In addition it can also add value to your home, not only for you but for potential buyers should you ever need or want to sell your home.

The installation of drywall is complete and it’s down hill from this point. In the meanwhile, two other projects that were done for the same client are well into construction also. I would have liked to blog the construction progress on these as well, but there is only one of me and many task in which I have to perform. It goes without saying that keeping up with construction when I’m not under contract by a homeowner to do so is a low priority. Nonetheless I will include a couple of photos of these projects to keep you abreast of the latest design works under construction.

Scroll below for the latest construction photos on plan BP12003 along with bonus photos of two aforementioned projects.

Shutters are added and the grade is prepared for sod and landscaping

Finished stair treads are installed and stained along with the wooden hand rail and newel post.

The kitchen cabinets are installed with granite countertops. Walls are painted also.

The fireplace includes a marble mantel and hearth in the two story family room

As you can see, much has been accomplished. Flooring is sure to go down soon and before you know it, all that’s left is the final walk-through to correct mistakes and fix damaged areas. Looking forward to the finished product!

Now for the bonus. The photos below are of the other two plans which are being built a right next to plan BP12003.

This is a modified version of the Collins-DE099. It has modest changes including the addition of stone accent on the front elevation

Two story home with the master bedroom on the 2nd floor. This design is being build on the lot next to plan BP12003

 If you’ve missed the previous post on the construction on BP12003, go back and see the first post “home under construction” and following each post until you have caught up. Thanks for stopping by and be on the look out for the final post of this home as the building process wrap up.

The first set of photos are of the exterior. Up until now the covered porch was incomplete showing just a skeleton of what the concept was. I was happy to see the columns and metal roofing this time around on both the porch and bay in the dining room.

Left frontal elevation view of Plan BP12003

Front view of the elevation

Rear elevation with lap siding…the left and right sides are also finished with lap siding.

From the beginning I have posted exterior elevations simply because it was the most dramatic presentation in terms of the building process. Personally, I find a great deal of interest in how the framing of the interior evolves.

Interior photos were taken during the early framing phase of construction. I thought it was best to hold off on posting any of those pics until the drywall was installed. As you will see, by showing the framing and the subsequent wall covering, the visual experience is much more engaging.

Framing in the two story family room…prefab fireplace in the right corner.

Drywall finish in two story family room…view is from the kitchen/ breakfast area.

While the first shot of the framing was a good indicator of what the space is like, the follow up pic with the drywall installed really bring the space into focus. Now let’s take a look at the kitchen and breakfast area for the same effect.

The breakfast/ kitchen area framed up and ready for exterior wall insulation and drywall installation.

The breakfast/ kitchen area fully drywall and ready for cabinet installation. View is from the two story family room.

I hope you enjoyed my latest updates with the inclusion of interior pics. Be on the lookout for the next update. I’m not sure what I’ll have in terms of exterior pictures or interior photos for that matter, but I look forward as do many of you to what is to come. If you’ve missed my previous post on the construction of this home you can get caught up by visiting the first post entitled, “home under construction” followed by “home construction continues“.

If you are up to date in this post series, continue on to see more of this home construction as it nears completion.

The Logan – DE006, part of the designer house plans collection

Our latest plan release, the Logan-DE006, is an exciting addition to our collection of stock house plans. It is an average size modest home of three bedrooms with the master bedroom on the opposite side of the home in relation to the secondary bedrooms. A simplier way to describe the layout would be a split bedroom design.

The home is just over 2,000 square feet with a formal dining and breakfast room too! The kitchen has a very generous space relative to the size of the house which will make the woman of the house very happy. A vaulted family room adds to the openness of the overall design concept.

For more on this home design, visit the following link:  Logan ranch house plan

The changes have to do with the placement of stone veneer. If you remember from the last post on this building construction process, I provided an image of the elevation as it was designed. The front of the garage is a mix of stone. The base or watertable of the bay was also of stone veneer. As you will see below, the bay is fully finished in stone and the garage is fully bricked across the front. Again it’s a slight change, but these minor field modifications are not jarring to me.

See below for the latest photo installments of our plan BP12003 under construction.

 Get caught up if you missed the first post, Plan BP12003 – Home Under Construction.

Continue on to see the next phase photos,  drywall installed as construction continue.

While the trend of decreasing square footage is becoming the key factor, smaller homes are not necessarily a quick pro qou design that lack space. Some rooms and their sizes are being sacrificed in order to make the best use of the reduced square footage. However, with proper planning in the conceptual design phase, the home can still be a great domain despite a smaller scale. It seems that more and more homeowners are willing to make this transition.

It was once the norm to see a family looking for a home between 3,000 to 3,500 square foot, with 3,500 plus sq ft running a close second. Now, homeowners are looking at the 3,000 square foot range as the maximum and around 2,400 feet as an average size home. This is a bit more than the national average of 1,800 sf which is often sought after by baby boomers and empty-nesters. But, homeowners are now more focused on quality and details as opposed to quantity and blandness.

What compromises are made to accommodate a small home?

The most common compromises made by homeowners include reducing square footage in multiple rooms or eliminating single purpose rooms. The one room that is almost unanimously protected from reduction is the kitchen. This room has become the place of family gathering over the years, so it is wise to make this room as big as the design allows. Another room is the master bedroom; however, this space is more likely to be reduced if the kitchen is in play. Laundry rooms can also be a significant piece of the square footage math, at times being the size of a small bedroom, which is roughly 100 sq ft. Homeowner’s don’t see this room as a sacred cow, so it has become a space to scale back on too. The washer and dryer are more frequently being incorporated in other areas of the home that include the mudroom, walk-in closets, or tucked under a staircase.

What is the best design options for small homes?

The best way to achieve a functional small house is to design it with an open floor plan layout. This design technique minimizes the use of interior walls where that are not needed. This gives a sense of space to the home making it feel larger than what it really is. Adding depth to ceilings via vaults and trays also adds to this openness.

Giving the cost of energy and the maintance associated with owning a home, it has become clear to many american’s that they have to cut their expenses where ever they can. This mindset has lead to what is definitely a trend in buying and building smaller homes. The question that remains is whether or not 2,400 square feet will remain the new small or will more homeowners, seeking to reduce cost, bring the small house trend even lower.

What size home do you think is enough for you and your family, 1500, 1800, 2000, 2400 sq ft or larger?