The evening world. [volume] (New York, N.Y.) 1887-1931, 1913-09-01

mont enc mon Of mode0t means " he
would have . home Of htS own. having
saved 0yeW cash.
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In this series Of articles The Evening
World Viii present facts found after
invsstisatSon In the interest Of the
w0uld-bs homs builder 40 that he may
avoid pitfalls that confront the email
Investor. Who can III AFFORD TO lose bis
hard earned SAvinGA
.sino~ ne markss u full Of various
materials Tor building. Il 10 not the
purpose Of these articles 70 90 spscih.
oaliy intO the merits q these. but the
building plAas will pressut matsItais Of
PscoGuiasd worth.
HOW You CAN BUILD WITH the
LGAsr cAoN ON HAND.
/ A man writes 70 The Evening World
ASKING IN what way can he borrow tho
most money at monthly payment rate
While Ws have treatod Of building
and loan associations. which arrange
msnt has proved satisfsctory 10 many
home builders, there 49, very few
associations that lend more than 20
psr cent q the valuation Of the prop.
srty.
Tue naAt Brooklyn savinss and Loan
Association perhaps lends more than
any other concern Of It, kind. allow
1 ing Is to % per cont Therefore
the homo builder - not seQuired 70
have more THAI = 10 . per can't q
the property value In cash to begin
with. Thus . man having $1,000 cash
could. In this way. build home 70
cost a. high - 5000. The rate Of
payment Of this association 10 so
PEI month ON each $1,000 borrowed.
o. this easis he property becomes
| ct0kr Of loan II twelve years end sour
| months.
The leans sAn b procured - ne
building proceeds In structure. Also.
the owner hes the privilege Of paying
on the mortgage - he nnds Dc.
sirabie. There ere NO charges TO Join
" transfer or draw on account The
| expense 70 borrow y me actual cost
Of Appraisemsnt drswins and recording
the mortgage and examining the titles
to the property. THIS cost vAriss.
but u moderate and rsprsssnts . cost
only once. No charge y made fnf -.
uswing . uaortSaSA
In regard to this class OF ASSOC
Citations. the, state Superintendent OF
Banks, In one Of his annual reports to
the Lasisiaturs. says: The local asso-
Citations are strictly mutual. co-opera.
tive corporations The msmbsrship v
usually confined to = limit0 terri
tory, and their Investments are re-.
striotsd 70 the same territory and to
Q specified and safe percentage Of the
appraised value Of the real estate upon
watch their loans are ut8de."
OEST WAY TO PNocUREA HOME
OF VoUR OWN.
After twsnty-ssvsn years OF expert
once. Mr.. Bsnjsmin Thompson. Presl.
dent. Gays: "TersonAiiy. ! regard the
savings and loan associations the best
possible medium by w..loA people with
small means may procure . home. by
these means . home buyer has the 3D.
vice Of practical and experienced men
which V . very important factor IN 60
isctinE and buying = home. In our a.
sociations no Oremaums are charged
simply interest and principal on the in
stAimsnt plan.
These are orSsnixed under the law
OF the SKATE Of New York ana examines
ny representative Of the Banking De
paStment ~ least once each year"
J. J. n. writes A. follows: II am q
the opinion that . ons-story house hai
many ADVANTAGES over other forms I,
make II more suitsb BILE for the Averag,
workingm man with al ambition to owl
his own home First. original cost O
construction 10 less; second. cost Of up
kssp less: third. . vast amount Of lAbo
saved to. the housewife through hav
Ing her WORK At hand and not havin,
TO climb stairs."
0ErA,ls AND PLANS OF A ONE
STORY HoUeE.
This bungalow y estimated to cos
ee.eO. and seemingly meets the require
msnts OF . home seeker having Q small
family.
Only q portion Of the site 10 excavated
giving ample storage space for coal
preserves. vegetables, &c, The celia
has \ ssmsnt floor with q hoor drain
which snskes the cellar perfectly dry a
al times.
The bungalow 10 provided with a com
modtous porch. = living room In com hi
nation with the dining room. two bed
rooms. . hath sfd kitchen with dlreo
communication oh the dining room
s.'' ~ several hiss worthy o