Barndominium?

[OSU Beavers]

Why can't borrowers just build a normal home anymore. May has been the month of nightmare proposed construction assignments. The latest is a Barndominium (Barndo or Barn Home) A barn built with either wood framing (post frame) or steel framing that is finished inside. A sealed concrete slab floor that is not heated, metal roof and siding.

I looked online and the finishes vary as you would expect. It is hard to imagine how this one will turn out having never seen one locally.

Anyone ever appraise one?

 

[Mark K]

Yeah, we have some of those in this area. Personally, I like them and it seems a lot of other people do too. Some have interior finishes that rival good custom home quality.

OTOH, I never appraised one for the F/F market; its always been local banks.

Most I've seen are pretty good size buildings, 40 x 60 or 50 x 80, with 16' walls and two-story residences in about half and storage or horses/cattle in the other half but some used the unfinished space for collector cars, etc. A couple were small and 100% residential.

I usually used conventional construction comps and hit the subject for quality/design/appeal in the grid. They are certainly cheaper to build than traditional construction but also likely have shorter lifespans.

 

[Proactive]

I usually used conventional construction comps and hit the subject for quality/design/appeal in the grid. They are certainly cheaper to build than traditional construction but also likely have shorter lifespans.

I've also paired conventional construction comps with other atypical construction types (straw-bale, earth berm, modular, etc). Explain the lack of similar data and you'll do fine. Definitely not a three-comper, though.

Good luck!

 

[Terrel L. Shields]

Anyone ever appraise one?

Yes. They are built because they are cheaper. I suggested to the editor of National Building Cost guide that they add a Barndo to their cost book - either as a separate building or simply as a additional feature of interior finish and they promised to look into for the following years. The more complex ones are half shop and half house.

To me they are easier to sketch, very basic, and in my neck of the woods a slab foundation is SOP for most construction. We also have post and pier with a floating slab foundation.

 

[Tiffany Gibbons]

Yes. They are built because they are cheaper. I suggested to the editor of National Building Cost guide that they add a Barndo to their cost book - either as a separate building or simply as a additional feature of interior finish and they promised to look into for the following years. The more complex ones are half shop and half house.

To me they are easier to sketch, very basic, and in my neck of the woods a slab foundation is SOP for most construction. We also have post and pier with a floating slab foundation.
View attachment 63315

I did a beautiful rustic cedar and stone (70s style) last month. Lady said she wanted to install steel panels over the cedar to get the barndomium look. SMH.

 

[Tim Hicks (Texas)]

I can typically find 3+ sales within 1-10 miles. It is kind of like log homes. They tend to breed more in some areas. The costs are getting pretty expensive for these type homes too. I just don't get it. For just about the same price you can get the same interior quality brick and mortar home. It does appeal to the buyer who would take apart his motorcycle in the living room. I have to admit is it cool when they have 5-10 antique/collector cars in half of the building. I don't want to share living quarters with horses or cattle.

 

[TerryRohrer]

I can typically find 3+ sales within 1-10 miles. It is kind of like log homes. They tend to breed more in some areas. The costs are getting pretty expensive for these type homes too. I just don't get it. For just about the same price you can get the same interior quality brick and mortar home. It does appeal to the buyer who would take apart his motorcycle in the living room. I have to admit is it cool when they have 5-10 antique/collector cars in half of the building. I don't want to share living quarters with horses or cattle.

This was once a way to heat the 'ol shack in the early days on the plains. Could become popular again, given the mess we are in!

 

[Overimprovement]

I've done two--agree with Mark--IF there are none available in your area, use lower quality conventional homes and adjust. I was able to find a couple out of area/dated ones that I then compared to similar GLA sales of that same time/area, and derived a quality adjustment from that.

They are less marketable in general, but if the setting is right, and there is a large workshop involved, some folks may actually prefer them. The larger one I did was about 1200sf, with a 3600 sf workshop. If a lender wants to make the loan, they will be flexible on comp selection, IMHO. Just try to support whatever quality adjustments you make.

 

[Dublin ohio]

I saw this one years ago. After I told the lender what I had. They cancelled it. There was also a 1248 sf 3/2 ranch on the property. So which one is the adu. The area behind the overhead doors was just a shop/garage area. But beyond that is approx. 3000 sf of finished area on 2 floors. That is a built in aquarium in the bedroom. They also had a high output generator that he got when the gas company changed the generators out at a compressor station. It could have powered half the neighborhood. Used a Ford straight six truck engine that was converted to Nat gas. It was housed in a separate structure that you can see just to the left of the "barndo"