Exploring the Pros and Cons of Barndominium Living - Yoder Real Estate (2024)

FAQs

Exploring the Pros and Cons of Barndominium Living - Yoder Real Estate? ›

Pros of barndominiums include a cheaper cost, fully customizable space, and lower maintenance. They're also highly durable with lots of extra room and are a more eco-friendly housing option. Meanwhile, cons include higher upfront costs, difficulties finding financing, and not all cities allow them.

Proper insulation and high-quality roofing materials can also extend the life of the structure. Depending on the materials used, a well-maintained barndominium can last anywhere from 50 to over 100 years.

Barndominiums offer a blend of rustic aesthetics and modern living that appeals to many homeowners. However, like any other type of construction, they are susceptible to mold growth if not properly designed, constructed, and maintained.

In summary, barndominiums make wise value investments thanks to lower initial costs per square foot, flexible use cases, and rising property demands over upcoming years as inventories remain limited. Position your unique barndominium advantageously to reap financial returns for the decades ahead!

**Selling Challenges and How to Overcome Them**

Initially, barndominiums faced skepticism from traditional homebuyers and real estate professionals due to their unconventional nature. Concerns about financing, insurance, and resale value were prevalent, potentially making them harder to sell.

Insuring a barndominium does require a specialized approach due to its unique characteristics, but don't let that keep you from following your plan of building your dream Barndominium because finding an insurance company that deals in barndominiums isn't all that difficult, it's typically a google search away like ...

The most common metal roof options for barndominiums are corrugated galvanized steel or exposed-fastener panels. Corrugated panels in particular amplify noise as rainwater runs down the valleys and ridges. Flat, concealed-fastener metal panels offer a quieter alternative.

So while barndominiums do carry a slightly elevated lightning strike risk compared to traditional stick-built homes, the damage is unlikely and very rare, especially with the proper lightning rod and grounding precautions installed that are highly recommended in rural locations.

Why can't you finance a barndominium? ›

Appraisal and Valuation Issues

One of the most significant hurdles in securing financing for a barndominium is the challenge of obtaining an accurate appraisal. Banks require appraisals to determine the property's value, which in turn, informs their lending decisions.

Barndominiums can make fantastic homes for a fraction of the cost of traditional homes. This makes them an especially great option for those looking to purchase: A large home for less.

Thanks to their grandeur, a barndo could appraise a little higher than your traditional 3-bedroom suburban home. Of course, each property will vary as there is a lot of freedom in the building and design of a barndominium.

Do barndos hold their value? Barndominiums normally retain their resale value and may even increase in value gradually, although more slowly than a standard home. However, these homes are still rare in some parts of the country, and it may be challenging to get an accurate appraisal in an area where there are few.

That being said, barndominiums can still be great investments. In fact, barndos appreciate at about the same rate as commercial properties (about two to three percent per year in a regular market), and they generally do not depreciate in value.

Conclusion:In total, you can expect the construction of a barndominium to take around 5 to 9 months from start to finish. However, this is a rough estimate, and the actual time can vary based on several factors such as design complexity, weather conditions, and material availability.

If you live in an area with high levels of humidity, your barndominium may not last as long. The moist air will cause the wood to rot and the metal to rust. In extreme cases, the metal may even start to corrode.

Barndominiums have the strength and durability that comes with being made from metal, making them just as safe or even more secure than a traditional home. The structural integrity of a barndominium also makes them last longer with less maintenance.

Barndominiums normally retain their resale value and may even increase in value gradually, although more slowly than a standard home. However, these homes are still rare in some parts of the country, and it may be challenging to get an accurate appraisal in an area where there are few.

Constructed with metal, a barndo offers superior protection from severe weather. The steel structure of a steel barndominium has a higher wind resistance than a conventional wood frame home. While the metal integrity of your home can endure a tornado, the windows and doors may not.