5 Things To Keep In Mind Before Buying An Unconventional Home For Sale

11 June 2020

You don't have to be quirky to be fascinated with the thought of living an unconventional life in an out-of-the-ordinary home. However, if you are considering making an unconventional home your own, there are a few things to know. 

1. Get familiar with what can be defined as an unconventional home. 

If you are going to shop for an unconventional home as a buyer, it is a good idea to get familiar with just what can constitute an unconventional home for sale. Unconventional, on the most basic level, simply means a home that is out of the ordinary, but what is "ordinary" can vary from place to place. A few things that can make a home unconventional include: 

• the house is built out of an unusual material (e.g. a home carved into a rock, built under the ground, or built from storage containers)
• the house is laid out in an unusual formation (e.g. there are multiple floors not positioned one over the other)
• the house is placed in an unusual location (e.g. off-grid, on the face of a mountain, at a tri-county connecting point) 

2. Make sure the unconventional home is going to hold its value over time. 

You may love the idea of living in a lighthouse/silo/church/storage container now, but what happens when you later wish to move on and need to sell? In order to make sure the property is going to hold its resale value down the road, work with the real estate agent to better understand what the prospective market looks like for the particular type of house and how that market could change. 

3. Unconventional homes must be more carefully examined before making an offer. 

Shopping for an unconventional home means you really do have to go into the shopping process with your eyes wide open and your discerning outlook intact. Since these homes are not always built in the same ways (or even with the same materials) as other homes, it can take longer to assess the inner workings of the house. 

4. Check on homeowner's insurance before you buy. 

Insurance to protect a home can be a little more expensive if the house is not conventional. A few factors cause this, such as: 

• the home may be harder to repair, rebuild, or replace if damage occurs 
• the home may be more likely to be associated with property liability claims 
• the home may be more at risk of catching on fire or sustaining some level of damage 

5. Secure financing for an unconventional home before you shop. 

Finding financing for some types of unconventional homes can be harder than finding a loan for a traditional house. Some lenders will view these residential properties as a risk just because the market for these types of homes can be slimmer if something happens and you default on the mortgage. Therefore, it's best if you source financing before you start shopping so you know what you can and cannot buy. 

To learn more, contact a resource that has homes for sale.