A log cabin from Timber Living Log Cabins Ireland is a great investment - half the price of building with block - but its still a lot of money. So, what's the best loan option out there?
How do you finance a log cabin?
The ways things are nowadays, it seems harder and harder to get loans for anything these days, especially when it comes to your residential needs. Which makes you wonder why banks are so picky about lending for log cabins - surely these people - who are so careful with money - should be a lot more eager about log cabins, since they are such good value!
We have many customers coming to us buying log cabins, and there are myriad ways in which they finance their log cabins. If people are lucky enough to have sufficient savings, they may only need a top-up loan, which is usually asy to get. Others manage to borrow from family, with a promise to pay back rent-sized amounts every month for a fixed period of time.
But if you have to go through official channels, what are the options for buying a log cabin?
A Credit Union Loan for your Log Cabin?
Have you thought about a Credit Union Loan for your log cabin? (Read more about Credit Union loans here.)
There's a notion going about that you have to be a member of a Credit Union before you can get a loan. This is not the case with every Credit Union. Each Credit Union is different, and is run soley for the benefit of its members, rather than for the benefit of its shareholders.
Because each Credit Union is different, they can decide individually who to give loans to, and what to give loans for. Many of our customers have financed their log cabins with Credit Union loans, without a problem
Will Your Local C.U. finance your log cabin?
Well, the first thing you need to do is find where your nearest Credit Union is. You can find a full list of Credit Unions here: https://www.creditunion.ie/credit-union-locator/ There are 326 Credit Unions in Ireland, so you're bound to have one nearby. And there's nothing to stop you enquiring for a loan from more than one Credit Union.
How to Appy for a Log Cabin Loan
There's a very simple to use Loan Application systema available on the Credit Union website: https://www.creditunion.ie/enquire-about-a-loan/
Just fill out the form and send off your request - it couldn't be easier :-)
Can you get a mortgage for a log cabin?
Normally, banks will not offer mortgages for log cabins. There are a few issues, not least the fact that cabins are often not expensive enough to qualify for a mortgage. Its almost as if the banks don't want to encourage the Log Cabin market, because they wouldn't make as much money out of it as they are currently making out of the housing market. Could that be the reason?!
How much is it to buy a log cabin?
When purchasing your log cabin from Timber Living Log Cabins Ireland, there are other costs that you will need ot figure in to your financial plan. Let's consider one of our favourite cabins, the Sutton Two Bed Cabin. There's the cost of the cabin itself, currently on sale for €28,000, delivered, built and fully insulated, VAT included. On top of that price (assuming you already wn the site) you will need to install a 5 inch concrete base. You will also need to factor in the cost of electrics, plumbing and a heating system. After that there's all of the fixtures and fittings, sanitary ware, kitchen, and other furnishings. You will need to connect to water and electricity supply, and have somewhere for your grey water and sewerage waste. Finally, I should mention that we don't supply gutters.
Log Cabin Showrooms
Before buying a log cabin, it man=kes emminent sense to actually go aloong to a showroom and see exactly what you're thinking of buying. Many, many people who visit the Timber Living Log cabin Showrooms here in Boyle are first time visitors to log cabins. It is always quite a revalation to people when they come to a log cabin for the first time.
People are initially surprised by the size of the Boyle Log Cabin Showroom interior. They are always very pleased with the soothing atmosphere which the wooden interior walls give - I think there is a bit of sound muffling due to the timber surfaces - one of those things you don't really notice, but which is different to what people are used to...
I had one visitor, Johnny, who had already visited a couple of log cabin companies. He spent the first five minutes of his visit not saying much, but just walking through the different rooms of the show house, and walking heavily in different spots. Finally he said "I'm trying to find squeaks in your floor. How come your floor doesn't squeak, when the other showhouses do?"
What is the best log cabin near me?
Well, Johnny had found the best log cabin company (us!) but we were not the nearest to him. Anyway, he felt it was worth a trip to us here in Boyle, because he wanted floors that didn't squeak!
We have showhouses in Boyle, Co Roscommon, Tullow, Co Carlow, and Carrigaline, Co Cork. So I imagine we're within a couple of hours of you. Come and visit us, and you can see for yourself what I am talking about.