Speakers and mortgage

Discussion in 'Speakers & Subwoofers' started by aaron plazma, Sep 29, 2005.

  1. aaron plazma

    aaron plazma Auditioning

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    Has anyone ever put together a home theater speaker package and paid for it with a construction loan while building a house? I guess if I was to sell the house I would take the speakers so Im not sure if I can funel the cost into my construction loan and have the bank reimburse me. I could probably get away with the surrounds since I could say they are attached to the walls. ANy ideas or comments?
     
  2. John S

    John S Producer

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    I do know people that have rolled all their home theater costs into loans for room additions / home expansions. Display, audio, seating, and everything.

    Not sure about a new home from scratch though, seems it should be possible.


    I mean who is to say where the line is if a home theater is part of the building project.
     
  3. Phil A

    Phil A Producer

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    Some builders have arrangements with home theater installers, electricans or other things to roll extras into the mortgage.
     
  4. aaron plazma

    aaron plazma Auditioning

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    the builder would be me.
     
  5. BrianWoerndle

    BrianWoerndle Supporting Actor

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    Many people take out extra money in a mortgage to pay for expenses when buying a new house. As long as you are not taking out more money than the house is worth, they shouldn't have a problem with it.
     
  6. Shane J

    Shane J Stunt Coordinator

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    Most mortgage brokers will not let you take out more money than what the selling price is worth...unless you do something like 103% financing or 106% financing.

    If you do that though, your $10,000 home theater ends up costing $30,000 over the years.

    I am assuming that when you are done, you will have some equity in your home. I would take out a home equity loan and build the theater with that. Then you can write off all of the interest on your following year's taxes!
     

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