Yurt Financing for Year Round Living

[arobidoux]

My husband and I are about to close on 5 acres of land. We are considering a yurt as our full time residence and provided we can get approval from the building inspector, etc. I'm curious... does anyone finance yurts?

I can't imagine banks being for this type of structure but I'm hoping there's some rich person out there who's looking to make some interest on their money!

[Jafo]

Here is some info on yurt financing:

Yurt Financing | Yurts

[arobidoux]

Thanks!

It looks like High Meadows Mortgage, LLC specializes in yurt financing in MA (where I am located). This is good news except the number is no longer in service. :/

[Jafo]

Any chance you can call this a commercial deal?

[arobidoux]

Possible. I am self employed. The difficulty is it's raw land so we are very much in research mode... we want to comply with building codes and all that. We're trying to do this as cost effective and "natural" as possible. If we can forego the septic and all that, even better.

The hard part is we are doing this slowly. We don't want to overextend ourselves financially but we want to finally set roots. Which is why we purchased the land first.

[Jafo]

Not to get too much into your business, but did you finance the property, or pay it outright? If the latter, then you should be able to get a loan for a yurt with the property as collateral right?

[arobidoux]

We did put a chunk of money down but a portion of it is financed. Very small private loan... less than what most people pay for their cars.

We don't believe in debt and pay cash for everything (cars too!) so naturally this hinders us when applying for traditional loans.

[Jafo]

Well depending on how much equity you have on the property, you could borrow against that. Financing is financing.

[arobidoux]

True.

Thanks!