Friday, September 07, 2007

Open Question: Our electricity keeps going out in our bedroom...should I be concerned about the wiring?


We don't have the best credit and wont be able to get a traditional mortgage but a family member of my husbands has offered us the loan to build the house. The cost will be about $250,000 including house and land and we need to live the house for 2 years because we are building the house ourselves and it needs to be covered by warrenty by us.The terms are we have to pay 6% interest only payments for the two years and then when we sell he gets half of the profits. When we are done the house will be worth approx 400,000-450,000 so he would be getting interest on his money and then also up to 100,000 more after that we are putting alot of our own work into the house and we have all of our own excavation equiptment and dump truck etc which is why there is such a great potential for profit and also we need to be personally responsible for the 10yr new home warenty. If you cant get normal lending are you just at the mercy of private lenders and whatever they charge or else not get intoahome the house will be worth 400-450,000 when building completed not in two years I cant guess that figure and I am not complaining about the offer I just wanted objective feedback because when you are in the situation and are desparate to get in a house to make money you dont always weigh out all of the pros and cons.

Open Question: Our electricity keeps going out in our bedroom...should I be concerned about the wiring?


We had our house built three years ago. Our electricity in our master bedroom has gone out several times (not from storms) in those three years. It seems to always happen when we're either away from home or in bed sleeping. Also, when the power goes out from storms, our master bedroom won't come back on automatically like the other rooms. My husband has to flip the switch in the box like all the other times it goes out. I called the electric company that did the wiring, and they said that we probably have too many items hooked up in that room. We have the normal stuff...tv, alarm clock, phone, radio, satellite, etc...but most of these things aren't even on when the power goes out. should i be concerned about the wiring and make them come out and investigate? or are they correct, and this means we definitely can't get the ceiling fan hooked up in there? i just don't have a good feeling about it. i'm scared there will be a fire one of these days.



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