The Daily Alaska empire Newspaper, May 8, 1936, Page 12

THE DAILY ALASKA EMPIRE, FRIDAY, MAY 8, 1936. = i« ‘Lo ANDBeoLo/ | COMES TRUE / £ FOR 51337 PER MONTH. ~=~ THIS SMALL MONTHLY NOT ONLY COVERS INTERES COME TRUE ./ A WORKINGMAN'S DREAM S GER, OF LOUISVILLE ,KENTUCKY IS PAYING BSS EorTs LXD;AA\SED AT $2200. AT THE END OF 19 YEARS, MR SIEGER WILL OWN HIS HOME OUTRIGHT. U, NO CREATER THAN RENT, AND REPAYMENT OF PRINCIPAL, BUT ALSO INCLUDES TAXES AND FIRE INSURANCE . THATS HOW EASY IT 1S TO BUY AND PAY FOR A HOME UNDER THE FEDERAL HOUSING ADMINISTRATION INSURED MORTGAGE SYSTEM. TODAY YOU CAN HAVE THE HOME YOU WANT ~ AND MAKE YOUR DREAMS OF HOME. A DOWN PAYMENT OF 20% ~ AN INSURED MORTGAGE OF 807 OF APPRAISED VALUE ~ INTEREST, CHARGES, “Home of Your Own” P L T TUBUES PSSO A ST 9 THE HOUSING FORUM Can I afford to buy a home? Is it better to rent or buy? How much can I pay? There are two schools of thought on owning property — one says: “None but the wealthy can afford to own his own home.” The other is expressed in the widespread “Own Your Own Home" campaigns, which urge everyone to buy a house. As is usually the case with flat dictims and slogans, neither is wholly correct. Many who are in ery small income class cannot ord to own their own homes better off financially, so- cially, and spiritually for so doing. It depends largely on the business of the bread winner, the make-up of the family, and the locale. If the family income is derived teady job that seems perm- f the family interests are center in the locality, and if the neighbrohood is & reasonably stable one, then the wise thing to do is to buy 3 On the other hand, if the income is uncertain, the possibility of hav- ing to move within a short time a real one; if the family interests are widespread and the family is about to disintegrate through the flight of the young from the nest; or if the neighborhood in which one lives is in the process of flux from resi- dential into that nondescript period when business has infiltrated but (has not yet taken over, then own- ing a home is more likely to be a liability than an asset. And now how much should we pay? If we rent, we should ne y over 20 per cent of o e our family life is simple expenditures, other th: t living expenses, are stretch a point and And if we buy, we shou more than a sum one-half times our On this basis under t g-term amortization plan inst by the house can be acquired monthly Federal Housing Adminis payments over a p usual might et e e HOME BUYING and BUILDING A Lot and Its Neighborhood 1n another article we discussed the neighbor- hood standards which the Federal Housing Ad- ministration has set for as a basis for the de- termination of the eligibility of prope:ties for mutual mortgage insurance In addition to the characteristics of th of a house and its neighborhood, the st of an investment in a home depends appropriate relationship between the property and its environment A property must therefore be in harmeny rhood, it must be borne in mind that onformity is not a positive quality and nfermity to low neighborhood standards does not justify favorable consideration. The following regulations are applied from the point of view of relative inappropriateness rather than conformity of a property to its neighborhoed sach property shoul er properties in neighborhood as al condition, type, and design. type of the building should be in harmonious relationship with existing buildings ympare favorably A bungalow surrounded by apartmenf build- ngs, or an apartment building in a neigh- borhood of detached houses, unless the trend is definitely toward the type under consider- vould be a questionable risk. Similarly welling in a district zoned for other uses ly to be a hazardous investment for lling purposes. . The replacement cost of the building hall not greatly exceed that of other build- ings in the neighborhocd. Under average conditions, a $20,000 house in a 85,000 neighborhcod would be doubftul St ty for a mcrtgage loan, due to the prob- y of a limited market for rental or re- E Neither high- nor low-cost residential pr ties are ineligible in themselves, but only in respect to their appropriateness to the neighborhood 4. The quality of the building as to mater- L onstruction, equipment, and finish shall m the standards set by other buildings in the neighborhood. 5. The size and character of the building, its placement with refernece to lot lines and to adjoining buildings, and the relative lot coverage shall be appropriate to the general PRINCIPAL AND INSURANCE PAID MONTHLY IN CONVENIENT INSTALMENTS. practice in the neighborhood. E which are permitted in the nieghborhood R e SR | KRAFFT’S CABINET and MILLWORK Estimates Furnished Satisfaction Guaranteed We carry PLYBOARD Moulding and Finishing Lumber PLATE GLASS AUTO GLASS Also the New Ultra Violet Ray Window Glass FRANKLIN ST. at SECOND Telphone 62 —————————————————————————————— Celotex FOR $13.37 PER MONTH— Augvst Sieber, of Louisville, Kentucky is paying for his cottage, appraised at $2200. At the end of 19 years, Mr. Sieger will own his home outright. This small monthly sum, no greater than rent, not only covers interest and repayment of prin- cipal, but also include and fire insurance. That’s how easy it is to buy and pay for a home under the Federal Housing Administration in- sured mortgage system. Today you can have the home you want—and make your dreams of home come true! A down payment of 209 —an insured mortgage of 80% of appraised value — interest, charges, principal and insurance paid monthly in convenient installments. BUILD NOW! Columbia Lumber Co | LUMBER AND BUILDING MATERIAL CONSULT THESE FIRMS No Obligation At All For INFORMATION ADVICE ESTIMATES CUT FLOWERS AND POTTED PLANTS FOR BEAUTIFYING YOUR ROOMS Trees, Shrubs and Plants for Beautifying ¥our Yard JUNEAU FLORISTS Shattuck Building PHONE 31 CONSULT US FOR FINANCING OF HOMES UNDER TITLE NO. 2, FEDERAL HOUSING ACT LOTS OF LOTS NICE ONES———TOO! Casey-Shattuck Addition Gold Belt Addition Seatter Addition CASH or TERMS Co-operate with the FEDERAL HOUSING ADMINISTRATION and beat the rent game . . . . ALLEN SHATTUCK ——-Since 1898—— Reduces your fuel bills, and beautifies your home. We carry a complete stock for immediate delivery. —ALSO——— Celotex Plank Celotex Tile TEMPERED HARDBOARD—HARDBOARD TILE PLASTERBOARD—FIR FLYWOOD DOORS—WINDOWS—GLASS—PAINT Ask for the CELOTEX BOOK Juneau-Young Hardware Co. Cement Plaster Lime DEFORMED STEEL REINF'ORCING METAL LATH, 3.4 Weight DRAINTILE CONCRETE SEWERPIPE and SPECIALS Chimney Blocks Concrete Footing Blocks Tile, Fireplace Dampers, Ashdumps, Hearth Tile G. E. KRAUSE Dealer in Heavy Building Materials GENERAL CONTRACTOR QUALITY LUMBER ALASKA SPRUCE—HEMLOCK—CEDAR PROMPT SERVICE LUMBER FOR EVERY PURPOSE Build with WOOD for PERMANENCE ‘Juneau Lumber Mills PHONE 358 RICE 8 AHLERS CO. ® PLUMBING HEATING OIL BURNERS H. B. F o s s c o M PANY SHEET METAL A Architects and Contractors Am connrrlomc Old First National Bank Building Juneau, Alaska lllllllllIllwllllllmmmmllllllllllIIIIIIIIlIIlIHIlMIlIIIIIlIIIIIIIIIlIIIIIIIIIIIIIIIIHIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIlIIIIII|II|||IIII|II|IIIIIIIIlIIIIIIIIIIIlIIIlIIIIIIIll!lIIIIIIllllllllIlllllIII||IIIIIIIIIIIIIIIII|II"IIHIlllllIIIlIllllll!llllflllllIIIlllllllllllfilllllllIIflllIIIIIIIIIIIIIIIIIIIIllIlIIIIIIIIIIIIIIIIHHIIIIIIIHIIHImflmlllflWfln