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Old 02-07-2007, 05:32 PM
 
90 posts, read 297,356 times
Reputation: 54

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We are looking to buy property in HB in the next couple of months. My problem is.....I would like to go ahead and build a house, but can't take on two mortgages right now. Has anyone built then rented out until ready to move into? Are there any kind of restrictions on that there?

Thanks in advance for any info.
Michele
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Old 02-08-2007, 07:08 AM
 
Location: Boca Raton, FL
130 posts, read 475,484 times
Reputation: 38
we bought in phase I HB. our log home is being built right now, and will be finished this summer in June. we have thought hard about wheather to rent out, and there are No restrictions on this. when you think about it, it could almost be safer for your home and belongings to have some traffic in your home if you will not be there full time. we fingured between the employees at my husbands job, and mine, we may be able to rent to them 1/2 of the time. if we rent it out approximatley 14 times a year for a week, this will cover all of our costs, and pay the morgage down. we too will have 2 mortgages for 3 years, and it is hard. we knew it would be harder to build in 3 years because the demand will be higher along with the prices. we are going to work on getting some info on property management for the property. i think this will be the challenging part, but might have a connection for that as well. what phase did you buy in? what type of home are you building? let me know....
Mary
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Old 02-08-2007, 08:54 AM
 
90 posts, read 297,356 times
Reputation: 54
We haven't bought yet. We are planning on going up next month. When I talked to Paul yesterday, there were only twelve properties left in first 4 phases. Looks like we may not have a choice on which phase to buy in. We are, as of now, planning on building a log house approx. 2000 sq ft. If you find out anything about management companies, will you please let me know. I would appreciate it so much. I've heard it is definitely worth getting one. I just hope there is enough traffic coming in and out of that area to warrant one.
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Old 02-08-2007, 10:33 AM
 
Location: Boca Raton, FL
130 posts, read 475,484 times
Reputation: 38
the only place in the area to stay is the FCFalls Park. when my husband and i went up there last, we had to stay in Cookeville. we would have loved to be able to rent a home in the area. i think the rentals would boom! 8 miles from the state park is the biggest draw! i will let you know how it goes. my husband flew up there today to check the house, and it is 28 degrees... burr.
let me know how your hunt for the perfect lot goes.
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Old 02-08-2007, 11:05 AM
 
90 posts, read 297,356 times
Reputation: 54
Absolutely....thanks so much!
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