There is something about growing up in a rural community that draws people back, no matter how long they have been away. For many, the draw pulls the strongest when enrolling children in school is on the horizon.
For Marc and Erika Walker, their careers pulled them closer to the city—Grand Rapids—but their roots were in the small towns they grew up in on the outskirts of the city. As their children approach school age, they began looking for a place where their family could put down roots, providing the small town values and experiences they had growing up.
“My wife and I both grew up in the country,” Marc says. “We moved from a dirt road to a 50 x 100 lot in the city. That’s not where we want to be. We want the lifestyle of living in a rural area where our kids can play outside and go to a smaller school.”
Last winter the Walkers purchased an 18-acre parcel in Plainwell and began working toward their dream of raising their family in the country.
In order to keep costs low and generate more equity in their home, Marc and Erika decided to build their four bedroom, 3,000 square foot home themselves, with help from family and friends.
“This has been much more work than we planned, but it will all be worth it when we move in,” Marc says.
The first hurdle for the Walkers to overcome was finding a lender who would allow them to act as the contractors for the home. “Most banks only let you do what you are licensed for,” says Marc who is a licensed builder having worked on a construction crew in college. “So they would not let me do the electrical and plumbing, two of the biggest cost savers.”
They were surprised and thankful to hear that GreenStone finances do-it-yourself home construction.
“I thought it would be overwhelming to gain the financing and figure everything out. But the people at the office were very helpful and gave us the information we needed,” Marc says.
Before breaking ground last August, Marc attended one of GreenStone’s construction seminars hosted by the Allegan branch. The seminar addressed a number of the unknowns they had and answered their questions.
At the seminar, Nancy and other GreenStone team members walked the participants through the different parts of the construction loan process like how to obtain lien waivers and complete sworn statements.
“Building a new home, especially on your own, can be overwhelming,” Nancy says. “We like to take the time to walk people through our processes, and explain what they can expect before they begin building. Going through the seminar also helps give people a greater perspective of the work involved in home building.”
“I don’t know if I was overthinking it or not, but going to the seminar made it much easier than I thought it would be,” Marc says. “Getting draws and submitting the forms has been simple without any problems.”
The Walkers plan to move into their new home in April—nine months after first setting the foundation.
“This has been way more work than we thought it would be. I spend 4 hours every night working on the house and 12-14 hours on the weekends,” says Marc who does road construction work during the day. “This leaves my wife as the sole caregiver to our two children Ruby, who is four years old and Harrison, who is three years old, while I am away. We have also had a lot of help from my dad and friends. We are reaching the top of the mountain that at times felt unclimbable.”
The Walkers hope that the “sweat equity” they are investing pays off when they finish the home.
“We are planning to save approximately 23 percent in the building costs by doing this on our own,” Marc says. “If we realize these savings, we will have 20 percent value in the home when we finish. which will eliminate the need for PMI (Private mortgage insurance).”
The real value, however, will be the memories the family makes on the land they own.
To view the full online article, click here.
