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:
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:
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.