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If you’re in need of some extra space — whether it’s for residential, commercial, or agricultural purposes — you may be considering constructing a barn on your property. And, these days, among the most popular types of such structures are pole barns. But exactly what is a pole barn, and what’s the best way to go about getting one? This overview tells you everything you need to know.
What Is a Pole Barn?
Simply stated, pole barns are sturdy, adaptable buildings made using a technique known as post-frame construction. This involves burying numerous posts a few feet into the ground to serve as a foundation for the building. Pole barns are generally far more affordable than traditional wooden barns, and they typically take far less time to construct.
Pole Barns vs Traditional Barns
Although pole barns and traditional barns can serve similar purposes, they each offer their own advantages and drawbacks. Here’s a quick look at the few of the most prominent pros and cons to consider.
Pole Barn Pros
Pole Barn Cons
Traditional Barn Pros
Traditional Barn Cons
Do Banks Finance Pole Barns?
If you don’t have enough cash in the bank to cover the cost of a pole barn construction, you may be wondering if a bank can help you finance the project. The good news is that many banks, creditors, and other lending agencies do, in fact, offer pole barn financing options, although these plans typically depend on your reliability as a borrower.
How to Get a Loan for a Pole Barn?
There are many options for getting a pole barn loan. Acorn Finance provides loans up to $100,000 and APRs as low as 4.99% for pole barns. We provide you with multiple options to finance your pole barn with no impact to your credit score.
How Much Does a New Pole Barn Cost?
The cost of a pole barn can vary widely based on several factors including size, location, and complexity. Some large and elaborate pole barns can cost up to $100,000, but most constructions are a fraction of that amount. As a general rule of thumb, a good estimate is $15 to $30 per square foot, plus the cost of labor.
Can You Finance a Pole Barn Used as a Home?
Although most people use pole barns for storage purposes, some folks actually call these structures their homes. Whether or not you’ll be able to live in a pole barn largely depends on local building codes and other regulations. If you get the green light from your municipality, you can certainly live in one of these structures and take advantage of pole barn house financing options. This is great news for some hopeful homeowners because financing a pole barn house is usually far more affordable than mortgaging a traditional home.
What Are the Options to Finance a Pole Barn?
So how do you finance a pole barn? Depending on your credit history, you may have several options available to you. Here’s a quick look at some of the most popular ways people finance their barns.
Traditional banks and other lenders can offer personal loans with terms based on your individual creditworthiness.
Pros & Cons
Some aspiring barn owners who don’t qualify for personal loans may turn to credit cards to finance their structures, which can be a slippery slope.
Pros & Cons
If you’ve got enough cash in the bank to cover the cost of a pole barn, this payment method is likely the best way to go.