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  #1  
Old 02-28-2006, 01:58 PM
ROBERT JONES's Avatar
ROBERT JONES ROBERT JONES is offline
 
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Location: Haddonfield, NJ
State: New Jersey
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Default New home plans with pole barn

My order came with plans for a house (28 x 56) rancher and a (36 x 60) detached barn.

It is all covered under the agreement of sale that the builder will be constructing both, total sales price $517,500.

Can we value the barn under fannie mae lending guidelines. Would you use the marshall+swift #'s???

Thanks,

Bob
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Old 02-28-2006, 02:22 PM
Jerry Bone Jr's Avatar
Jerry Bone Jr Jerry Bone Jr is offline
 
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It's not a 36x60 barn. It is a 5 car garage.
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Old 02-28-2006, 02:30 PM
Proactive Proactive is offline
 
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Bob,

In my market that would be pretty typical for a small acreage/suburban residential property. Fannie's concern is they do not lend on agricultural properties. As you must provide a cost source so the lender can replicate your figures, Marshall & Swift IMO would be a good choice. Also, it seems to me there was a thread not too long ago about cost sources for barns and outbuildings; you might do a search and find a better recommendation.
  #4  
Old 02-28-2006, 03:14 PM
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Robert Dunkle Robert Dunkle is offline
 
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You can cost out the barn in M & S. Under the sales approach, you will need to see if the market will pay, and how much, for that amenity.
  #5  
Old 02-28-2006, 05:39 PM
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Ray Miller Ray Miller is offline
 
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State: Wisconsin
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A 36 x 63 plus a 12 foot over hang on the south side, set up to feed from the interior with lights (200 amp), water (flow back), hard surface 8 inch pack millings in our area cost 60K last summer to build. Value add to property 10K that is what the market will support.

M/S has a good source for barn/ag buildings.
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