Barndominiums are one of the most exciting and out-of-the-box real estate ideas in recent years. A barndominium combines a barn’s fine and rustic features with the comforts of living in a modern home. It’s a unique setting for a person or family, with open floor plans and customizable layouts. Millions of Americans are considering adopting barndoiminiums as their primary living area, and if you’re one of them, there are a few things you should consider first. Knowing all the pros and cons before making a major purchase helps, so without further ado,
Here are a few things you should know about Barndominiums
One of the main things you should be on the lookout for when you’re constructing a home from the ground up is, of course, how expensive the process will be. Even if you have a sizeable down payment and don’t need a huge loan from the bank, being money conscious is always a good option.
Barndominiums have much simpler designs than most homes and use fewer and cheaper raw materials. Because the building process is less intensive, you’ll need to pay for less manual labor. The money you save on any possible construction can go towards new additions to the house!
There’s ample space for everything
One of the most obvious benefits of a barndominium is the space you get for everything you could need. A home in the shape of a barn gives you ample room to expand the living area, adding rooms and bedrooms as needed. However, converting the open area into a working area is the biggest convenience. Executives in car companies have used their barndominiums to store several cars. You can use this area as a garage to store up to a dozen vehicles. You can also convert it into a home office, with space for multiple employees if you’re running a startup or any other venture with small, dedicated teams.
Barndominiums are constructed with high-grade materials, commonly cement, and steel. These materials are great for the long term because they don’t get damaged easily from environmental factors like strong wind, rain, or snow. You’ll save a lot on maintenance costs and have the peace of mind of a strong and sturdy home.
Having a barndominium is great for commercial growing of crops and other agriculture. However, most people who buy these properties already have jobs elsewhere. In these cases, it’s still a great space to grow simple farm ingredients on your own garden, so you’ll be able to plant your own vegetables, trees, and fruits. The experience of having a fresh fruit or vegetable in a dish that was plucked from your own garden is unlike any other.
Just as buyers have not fully caught up with the potential of a barndominium, the government has not caught up to update the laws and regulations for it. In some areas, certain zoning issues or regulations restrict the process of building a barndominium. The regulations could focus on the height or width of the design or the fact that it’s a non-traditional dwelling. However, the good news is you can get a special permit in some cases which permits construction. You can also change the design and measurements of the house to fit the regulations. In the worst-case scenario, you might have to buy a barndominium a little farther away than where you were hoping.
It Doesn’t Fare well on the resale market
The housing resale market is very fickle and important to consider if you’re planning on going with a barndominium. Though the advantages of owning such a house are clear, not everyone is forward-thinking, especially regarding a long-term investment like purchasing a property. The possible benefits suddenly become much less obvious when buyers face the price tag. This can result in the value of your barndominium getting lowered if you ever decide to sell it. It could also take some time to find interested buyers. However, the living experience in a barndominium is so good you likely won’t want to sell it in the first place.
Due to the general design and structure of these properties, lack of insulation can be a real issue. Sound can travel easily from the outside through the metal walls of the barndominium, and inside your home. The same goes for the temperature. This can pose a problem in especially hot or cold areas, but, luckily, you can pay extra to have insulation installed to better suit your needs.
Lack of financing
If your dream is to own a barndominium, it may only be possible if you have the cash to build one on your own, with minimal help from the banks. These structures are recognized as non-traditional homes, and, therefore, don’t qualify for many loan or mortgage payment programs. You may need a sizeable down payment to even begin construction. However, as always, there may be a workaround for this issue, but you’ll have to go looking for companies that are willing to give you a loan.
Barndominiums are trendy yet divisive. In short, they’re one of the hottest trends the real estate industry has ever seen. Owning a barndominium could change the way you live and conduct your life. It has the chance to open many possibilities for you and create and customize the home you’ve always envisioned. However, it is a major purchase, and before you decide on it, if you weigh the pros and cons listed in this article, you’ll be able to make a more informed decision.