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The best way to avoid disappointment when planning to purchase any
log home, is to first determine how much log home you can afford. The following form will help you determine:
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Your maximum
log home budget
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The cost of your
log home project
Then compare these two figures side by side:
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If your budget number is equal to or higher than your
log home project number, then the log home you want can realistically be yours.
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On the other hand, if your budget number is lower than your
log home project cost, then revisions to your log home plans may be
necessary.
Enter whole number values. Follow the mathematical instructions to determine how much
log home you can afford.
| Equity |
$ ________________ |
- If you plan on using money from the sale of an existing property, enter the amount here.
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| Savings |
$ ________________ |
- Enter the amount of savings you plan to put into the project.
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| Income |
$ ________________ |
- Figure your gross annual household income. If interest rates are above 9%, multiply your income figure by 2. If interest rates are 9% or below, multiply your income figure by 2.5. Enter the final number here.
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| Sub Total |
$ ________________ |
- Add the three figures above and enter the sum here.
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| Land |
$ ________________ |
- Enter the amount you owe on the property you plan to build on. If you haven't bought land yet, enter the estimated cost here.
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| Total |
$ ________________ |
- Subtract the Land amount from the Sub Total and enter the difference here. This is approximately how much you can afford for your
log home.
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Estimated Cost: Square Foot Method
If you know the approximate square footage of living space in the
log home, multiply that figure by $140.00 and $160.00 to establish a range for the project's estimated (Turn Key) cost.
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