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About Brian McElroy
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I am a home builder in the Tampa Florida area specializing in energy-efficient homes built with precast concrete wall systems that are hurricane resistant to 235 mph. I have researched and used many methods of new home construction and find this the most cost-effective, environmentally-friendly method of home building for this area. I am also investigating other alternative methods to improve my products. I am a member of the Florida Green Build Coalition, EPA Energy Star Program, and have other affiliations involving energy savings, safe building practices and quality construction practices

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You are here:  Experts > Home/Garden > Home Improvement/Repair > Alternative Housing > dome financing follow up

Alternative Housing - dome financing follow up


Expert: Brian McElroy - 7/2/2007

Question
Brian,

My wife and I are looking at an existing geodesic dome in Hillsborough, NC. It's 2200 sf were built in 1982 and it's on the market for 179K. The county tax values the property at about 160K. After a little digging, it looks like financing may be difficult, due to the fact that there is no way an appraiser is going to find two comps in the market to make a "valid" appraisal. Any ideas? We have excellent credit and about 20K to work with.

Michael S.

Answer
I spoke with my lender friend. He said it probably would not work out because it is a 2nd home. You forgot to mention that. He had some alternative ideas, such as using equity in your current home to lessen the risk for the NC lender be showing more money down. I am sorry I could not offer more help. Dome homes are very difficult. Brian

I have a friend in Colorado that may be able to assist you. His name is Shawn Dunn. His E-mail is shawn@amtgx.com.  If he cannot help, send me another note and I will try another source.  Brian McElroy.  my e-mail- mcelroybuilder@aol.com

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