Friday, January 1, 2010

A New Year with an Old Resolution

Each year, millions of people around the world begin their new year with new resolutions. However, rarely are any of the objectives we set really new. One popular website (www.squidoo.com/newyears) lists these as some of the top resolutions each year:

1. Stop smoking
2. Get Fit
3. Lose Weight
4. Enjoy Life More
5. Quit Drinking
6. Get Organized
7. Learn Something New
8. Get Out of Debt
9. Spend more time with the Family
10. Help Others

There’s only one problem with this list. For log home enthusiasts it has this missing from the top of the list: “Build the log home of my dreams”.

Honestly, appraisals and financing are a struggle compared to the past several years. If you qualify to build a new log home, there may never have been a better time to do so. If you don’t, there may have never been a better time to, “Position myself to build the log home of my dreams.” That being said, create a list of “resolutions” to work through. Here are a few suggestions:

1. Do your Research: Find the log products and manufacturers you like and feel comfortable with. Learn all there is to know about log homes by reading through the magazines, browsing the Internet and so on. Attend log home shows, open houses and other events as well. The very first step might simply be to request free literature, which most log home producers distribute.

2. Pre-qualify and Establish a Budget: Whether you are planning to start building now, or not for another five years, establishing a preliminary budget is a good idea. It helps to keep our dreams in check with reality and what we can spend. Disappointment is a hard pill to swallow, and building your log home should be a joyous process. Don’t set yourself up for disappointment, set up to manage your money and future wisely. Many lenders can do a pre-qualification very quickly with no strings attached.

3. Reduce Debt: Before you actually apply for a loan, you want your credit score and income to debt ratio to be stellar. Making the list at #8 above, taking steps to reduce your debt is smart for your lifestyle all around, not just when trying to build your log home.

4. Save Money: This is a no-brainer really, but it was only a couple of years ago that financial institutions were lending at or above 100% of a home’s appraised value. That is no more. The more money you have saved, the easier it will be to qualify for a loan and construct your future log home.

5. Purchase your Land: While undeveloped land hasn’t decreased in value anywhere near the pace home values, there are still great deals to be found. Through auctions, desperate Realtors and land owners, a bargain could be just around the corner. Make sure the land is suitable for building. As beautiful as that view may be, if you can’t construct a log home on it, enjoying that view as planned with be impossible.

For many, “Building the Log Home of my Dreams” is as old and repetitive a resolution as the effort to loose a few pounds and get fit. It’s an achievable goal, one worthy of making the top of the list for many log home enthusiasts. We hope the few simple steps above might help you take an extra step or two closer to seeing that dream achieved. Here is to a prosperous and happy 2010!

Joshua Beasley
Honest Abe Log Homes, Inc.

If you would like to receive information on our log homes, visit: http://www.honestabe.com/info/
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