{"id":1343,"date":"2013-06-06T08:17:08","date_gmt":"2013-06-06T12:17:08","guid":{"rendered":"http:\/\/dankrell.com\/blog\/?p=1343"},"modified":"2021-11-23T17:31:25","modified_gmt":"2021-11-23T22:31:25","slug":"unusual-considerations-when-owning-an-unusual-home","status":"publish","type":"post","link":"https:\/\/dankrell.com\/blog\/2013\/06\/06\/unusual-considerations-when-owning-an-unusual-home\/","title":{"rendered":"Unusual considerations when owning an unusual home"},"content":{"rendered":"

by Dan Krell \u00a9 2013
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\nDanKrell.com<\/a><\/h3>\n

\"Luxury<\/a>\u201cBe different and be damned<\/strong>\u2026\u201d is a telling quote from Margaret Mitchell\u2019s Gone With The Wind<\/i>.\u00a0 Social commentary aside, the quote can be somewhat of a warning to those who build or purchase that unique, unusual, and one of a kind home.\u00a0 Although it is just a quote from one of the highly celebrated novels of the twentieth century, \u201cdamned\u201d is a strong word to use in a real estate column.\u00a0 However, because of the many considerations of owning a unique home, there may be an occasion or two you might feel \u201cdamned.\u201d<\/h2>\n

When would you consider a home as being unique?\u00a0 Mostly, the degree of uniqueness can be to a person\u2019s perception<\/a> of a home as well as what they consider to be unusual.\u00a0 However, there is some consensus to what is generally accepted as \u201cmainstream\u201d in the real estate industry; and if a home falls outside these norms through its construction, size, floor plan, etc – it may be considered as unusual\/unique.<\/p>\n

Some homes are so extreme in their construction, either in size and\/or building materials, that it is clear they are unique and one of a kind; there are other homes that may have been converted from commercial or industrial buildings that may also indicate a unique flair.\u00a0 However, there are many homes that appear to fit in their respective neighborhood, but the custom nature expresses a specific style and preference; which is often found in the luxury home market.<\/p>\n

Some considerations you might think about when purchasing a unique home include: financing, insurance, maintenance, and resale.<\/p>\n

If you\u2019re set on purchasing a home that is unique, check with your mortgage lender about financing; lenders may have objections on lending on an unusual home.\u00a0 It is also not unheard of that extreme unusual homes appraise lower than market value due to uncertainty of value.\u00a0 Unusual homes, including the \u201c\u00dcber<\/span>-luxury<\/a>\u201d market, may require specialized loan products that are offered by specialized lenders.<\/p>\n

Additionally, you should consult with your insurance agent as the home may not meet your underwriting guidelines for home owners insurance.\u00a0 Many people don\u2019t realize that insurance carriers may rate your home based on construction materials, zoning, size, etc, which can affect the premium.\u00a0 And it\u2019s not unheard of that an insurance carrier may also limit or even deny coverage because the home does not meet their underwriting standards.<\/p>\n

Maintaining a unique home can sometimes be challenging too.\u00a0 Many unique homes are constructed with materials that may be exotic, uncommon, and\/or can be found in commercial applications.\u00a0\u00a0 Repairs and labor costs can be much more than the typically constructed home.\u00a0 Finding replacement materials and qualified contractors to work with those materials may also be difficult.<\/p>\n

Home ownership is often a labor of love for the home, and that emotion can be carried into the resale.\u00a0 You could easily be disappointed in the time it takes to sell the home as well as the sale price.\u00a0 Be prepared for an extended time on the market because your unusual home may have a very limited pool of buyers, and negotiation could be long and dragged out due to variances in perception of value.<\/p>\n

\u201cDoing it your way<\/a>\u201d may be the theme of a popular song and an advertising campaign for burger joint; but when it comes to building or buying a home – being unique and unusual can sometimes come at a cost.<\/p>\n

More news and articles on \u201cthe Blog\u201d<\/a>
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\nThis article is not intended to provide nor should it be relied upon for legal and financial advice. This article was originally published the week of June 3, 2013. Using this article without permission is a violation of copyright laws. Copyright \u00a9 2013 Dan Krell.<\/p>\n","protected":false},"excerpt":{"rendered":"

by Dan Krell \u00a9 2013 Google+ DanKrell.com \u201cBe different and be damned\u2026\u201d is a telling quote from Margaret Mitchell\u2019s Gone With The Wind.\u00a0 Social commentary aside, the quote can be somewhat of a warning to those who build or purchase that unique, unusual, and one of a kind home.\u00a0 Although it is just a quote … <\/p>\n

Continue reading “Unusual considerations when owning an unusual home”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[652,270,333,178,419,386,382,405,406,130,13,650,678],"tags":[988,922,490,887,926,914,912,624,797,996],"class_list":["post-1343","post","type-post","status-publish","format-standard","hentry","category-custom-homes","category-home-buyer","category-home-design","category-home-maintenance","category-home-owner","category-home-purchase","category-home-seller","category-homebuyer","category-homeowner","category-luxury-real-estate","category-real-estate","category-resales","category-unique-homes","tag-custom-homes","tag-design","tag-home-buyer-2","tag-home-maintenance","tag-home-owner","tag-home-purchase","tag-home-seller","tag-luxury-real-estate-2","tag-real-estate","tag-unique-homes"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p1VZLf-lF","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/posts\/1343","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/comments?post=1343"}],"version-history":[{"count":4,"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/posts\/1343\/revisions"}],"predecessor-version":[{"id":6317,"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/posts\/1343\/revisions\/6317"}],"wp:attachment":[{"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/media?parent=1343"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/categories?post=1343"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dankrell.com\/blog\/wp-json\/wp\/v2\/tags?post=1343"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}