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Aloha Lostboystoy,
I've been reading many of the posts about yurts on this site, there is quite a bit of misinformation it seems, or not quite accurate/current information... We have been doing a lot of work to educate people about yurts in the community over the past couple years, there was some resistance in the permitting department, but these structures are stronger than many "box" houses and the engineering specs back this up 100%. They also leave a small footprint and have the potential to help with many of our housing problems. Their uses are extremely diverse as well. Yurts are absolutely permittable, I have walked several through the process myself. They can sell rather easily if they're listed at a reasonable price, but I'm not really into the buy-build-sell-triple your money mentality. There are some tricks to get lending to buy a yurt, but it can be done. Getting financing to build is a bit trickier, but you can typically build one for under 30k, so personal loans can work quite well in that situation. You can pay them off more quickly than a higher loan, so the interest often balances out. Yurt living was an amazing experience for me, one I will gladly repeat someday soon. I have yet to speak with anyone who has actually gone this route that doesn't have wonderful things to say about it. There are some great books on the market, Yurts: Living in the Round by Becky Kemery is one. That is a great source of information on more contemporary yurts. The material does not mold as has been suggested in earlier threads, though you do need to clean the exterior a couple times a year with our rain and vog muck. (We do ths with most "box" houses as well, right?) When the exterior material wears, typically in about 15-20 years, sometimes longer, it can easily be replaced by the manufacturer. DO GET A REPUTABLE MANUFACTURER!!! We've got almost 3 years experience in this field, so if you have any questions that you think we can help you with, just ask. Lots of answers are one the faq page at www.yurtsofhawaii.com
quote:
Originally posted by lostboystoy
ye thanx ,keep me posted on your progress, would love to see your floor plans for the lanai around your yurt?
setting my soul free....
Melissa Fletcher
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"Make yurts, not war" Bill Coperthwaite, 1973
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I'm sorry, YurtGirl, but I have to correct one thing you've said, and I say this as someone who has represented sellers of yurts here on the island. On the Big Island (I cannot speak for anywhere else), it is not possible for a buyer to finance a yurt through banks or other registered mortgage companies. It may be possible in other places and, as I said, I cannot speak to financing options other than here. But here, it is not possible. Have you done one on the Big Island? If you have and can give me the name of a lender, I'd love to have it. I spoke to at least a dozen lenders last time I was in this situation and not one would do it. If you know of one, PLEASE share.
As for permitting, you are absolutely correct. They are permittable as long as proper hurricane requirements and other building codes are met. And they can be quite beautiful. I know of some in Kalapana Sea View that are well-built, sturdy, and make lovely living spaces. And they are fully permitted and legal.
John Dirgo, R, ABR, e-PRO
Aloha Coast Realty, LLC
808-987-9243 cell
http://www.alohacoastrealty.com
quote:
Originally posted by jdirgo
On the Big Island (I cannot speak for anywhere else), it is not possible for a buyer to finance a yurt through banks or other registered mortgage companies....
Are you sure [  ][?]
Why does the lender need to know "what type of house is being built" ?
Couldn't someone apply for a "personal" loan and apply that to building the Yurt [  ]
From the NY TIMES:
The trick, he said, is in the nomenclature. They said, We dont know what the heck a yurt is, but to us this looks like a beautiful, contemporary, architecturally designed house.
From then on, Mr. Reiter said, he advised clients never to refer to their houses as yurts. If you just tell a banks appraisers an architect designed it, he said, theyre fine.
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Today in History:
Kahana Itozaki catches the Hawai'i state record Commerson's Frogfish, 12 lbs, off Ka'u on the Big Island, 1999.
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There's these people called "appraisers" who go on-site and view the property...
They can recognize a yurt.
And yes, I am sure. I know from experience where the contract only mentioned "all structures and improvements therein and thereon" -- no mention of a yurt at all -- the appraiser called after going on-site and said "It's a yurt. I've looked and there are NO comps on the island that have sold that I can use".
Yurts have been approved in other places where they could find comparable properties. Remember that comparable properties have to be similar not just in size, number of bedrooms, etc but also in such things as "method of constuction and construction materials".
John Dirgo, R, ABR, e-PRO
Aloha Coast Realty, LLC
808-987-9243 cell
http://www.alohacoastrealty.com
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How does fire/property insurance work on a yurt?
David
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quote:
Originally posted by jdirgo
I'm sorry, YurtGirl, but I have to correct one thing you've said, and I say this as someone who has represented sellers of yurts here on the island. On the Big Island (I cannot speak for anywhere else), it is not possible for a buyer to finance a yurt through banks or other registered mortgage companies. It may be possible in other places and, as I said, I cannot speak to financing options other than here. But here, it is not possible. Have you done one on the Big Island? If you have and can give me the name of a lender, I'd love to have it. I spoke to at least a dozen lenders last time I was in this situation and not one would do it. If you know of one, PLEASE share.
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John,I am sure you know that"elsewhere" is not possible also.When I was going to buy the yurt in Sea View(MLS # 17003),my friend in real estate who owns the company and has some connections in financial world,tried nationwide - no luck.Of course,we didn't try all the nation...
After almost 2 years on the market the yurt was sold for cash,much less than initially asked.
Hope, the YurtGirl shares info on her lender with us.
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John Dirgo, R, ABR, e-PRO
Aloha Coast Realty, LLC
808-987-9243 cell
http://www.alohacoastrealty.com
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One problem in lending is absolutely getting comparable properties to back up a loan amount, but there are more yurt properties all the time. Kalapana, Hawaiian Acres, Oceanview, Honoka'a... The yurt that I started out in here in Hawaiian Acres sold about a year ago for 90k, property valued at 40k. That was before cesspool, catchment, plumbing or electric. I believe the new owner got financed. The Kalapana yurts sold as well, I'm not sure if that was with financing or not. As I've said, it really is about educating the people you need to work with, lenders, appraisers, etc. If you can provide them with the numbers (engineering specs, comparable properties) and the information that they need, you will be giving them the tools they need to break through old paradigms. I have spoken with many lenders and companies in the business of helping people build homes. Many are very interested and open to learning about them and that is key. It isn't a shut and dry "NO YURTS" policy. It does take more work than a traditional structure in that area though. Same with insuring a yurt. Creativity and willingness to jump through some extra hoops will go a long way. As is posted here, simply claiming the yurt as an architecturally designed house is one way around it. An appraiser going to the property and being given the facts on the weight/wind capacity, durability estimates and the various other information that is key to any structure, is much different than an appraiser going to a property and, without the information at hand, applying old 'yurt stereotypes' to this structure. It's common and aggravating, these old stereotypes... "It's a tent" Well, no, actually, it's very far from being a tent. An extremely strong wooden infrastructure is the main element of a yurt. The exterior material lasts longer than many contemporary materials even though it is flexible. "It's temporary" Not as temporary as you might think, with the capability to replace the exterior material we begin to see a much longer span of usability. "They're easy to break into" No, actually, they are rather difficult to break into, with a latticework wall that goes from door to door, a person would have to cut the vinyl and make several cuts to the 3" thick lattice with a saw to get in, which would place them in danger of the structural integrity holding up once they get in. A traditional house often just takes one rock through the window. If people really want to stick with their old paradigms, then often there is no amount of explanation that can break them out of their comfort zone. A yurt is a yurt and it isn't my aim to claim that they are more than what they are, but often they don't get the credit they deserve due to closed minds and a refusal to take these structures on their own terms. It is my aim to facilitate an open mind to the many uses of these amazing structures. As I've said, yurts have been around for over 1000 years. Something's right here.
Melissa Fletcher
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quote:
Originally posted by David M
How does fire/property insurance work on a yurt?
David
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It doesn't.
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quote:
The Kalapana yurts sold as well, I'm not sure if that was with financing or not.
StillHope -- in answer to your question, I just don't feel that its wise for me to make statements that I do not know to be fact. Could there be financing available in other states? Maybe, I don't know. Is it available here? Not that I've been able to find. Those are factual statements that I can document. Maybe someone else has found a way that I don't know of -- I can hope, right?
YurtGirl, fi you mean the multi-unit ones at the very top of Kalapana Sea View -- uh, no they didn't sell. And the reason they didn't sell was the lack of available financing for the buyers. As for the one just slightly down the street from those, it did sell late last year for $90,000 and it was all-cash. It took over 23 months to sell (they put it on the market almost the day it was complete). When the seller's cost of the lot, the land prep, selling costs and the infrastructure (electricity, cesspool, landscaping, etc) in addition to the cost of yurt itself are all factored in, they maybe broke even. They definitely were not compensated for their work on the place.
I ask again -- have you ever seen a yurt on the Big Island sell where financing was involved?
I imagine that, again, I'm going to get a long answer that never says "yes" or "no".
Sheesh, you'd think I'm asking questions of someone whose sole interest is in selling yurts.
Oh wait, I am.
John Dirgo, R, ABR, e-PRO
Aloha Coast Realty, LLC
808-987-9243 cell
http://www.alohacoastrealty.com
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So, when I described my building to the insurance people as traditional wooden framing, covered with cemenitous (Hardipanel) panel, on post and pier, covered with all metal roof, I guess I should have found a better description so the underwriters wouldn't have classified it as a "10" A "10" meant they felt it would burn to total loss before the fire department would arrive. I feel quite enlightened that vinyl over wooden lattice is more insurable.[?][?][?]
Lostboystoy - just curious as to whether you've had any response from someone actually living in a yurt as you asked?
David
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