A small family living in Missoula, MT, a university town in the Intermountain West, we are in the exploratory phase of looking at our options to build an addition onto and remodel our existing home, or build a new, energy efficient home on our other property in town. Our backgrounds are diverse: I am a visual artist who currently works for a software company, and my husband, Peter has a lot of skills, ranging from all aspect of carpentry to computer consultation. We have a young son, and now need more space in our home. Our path will be charted by a number of variables:
1. Will we be able to sell our existing home for the asking price we need in order to fund building on our other property?
2. What will we be able to lock into for a 30 year fixed rate mortgage?
3. And if our home doesn’t sell, how much can we qualify for in order to refinance our existing mortgages to fund building an addition to our home?
4. And what will our house appraise for?
Watch us as we embark on this project. I will share what we learn along the way.