New Britain herald., 1919-09-13
BUILD NOW PROPOSITION,

Zeal men, interested in building in
 of the lum Der industry and allied
 Rs with the idea of aScertaining
 sere is any indication of a decrease
 he price of building within a few
 ss. Literally to a man, concerns
 ht the country have advised the in
 aers that the scale of prices
 the present time will not be
 edied. The letters, in answer to
 New Britain people, were plain XneSS statements in which their
 tions were candidly answered.
 hl people have therefore decided
 se the columns of The Herald in
 ertising their wares and making
 lay of the information that they
 been able to acquire. The atten-
 of the pubic is called to these Eds, which are more complete than
 editorial may be.
 Ee are interested in the proposition
 home building in the city as a
 e for the betterment of the com- &nity, as we have explained at some &sth. There is no worthier motive h that of inspiring all who are
 ncially able and willing to build hes to start work on them at once.
 rent situation may be remedied 1this plan, the truth of which is only evident.
 The Loan association, started by the lnufacturers, the attempt to estab- h series of statistics by other To- men, and even the reassessment of bperty to equalize and, if possible, flower taxes are all movements in ! support of a movement for which Ne Herald has been preaching for he time. With the organization of Loan organization it might be well look further into what it plans to the builders and lumber men have pIained the advisa bility of building W.
 The Loan association, in it's present ms, will make all arrangements for yone desiring a home in regards to 3 cash required. All that is neces- y is for the prospective builder to We a choice in lots and pick out the .le of building he desires. It is also pulated that he must have ten per nt. of the total of the investment in sh, the rest of it will be borrowed r him on first and second mort ges from the banks and the coffers the association. He must pay, on s home, an amount equivalent to one r cent. a month of the total mum Der dollars represented in his property 1t of this the association will pay s taxes, and the interest on his ortgage, placing all surplus to his edit on the second mortgage. % The scheme works out this way. pposing that you own a lot that is ,rth one thousand dollars. and plan place upon it a house that will cost ne thousand dollars. That makes the tai amount represented ten thou sy figure upon which to figure inter ]. The loan association, esta blished hn o Y1J n n ot a in st and second mortgages, accepting UT lot as the ten per cent. payment at you must originally have. The ans on the mortgage are at five per mt. but you must pay one per cent. month, twelve per cent. a year, in der that some cash payments 1uay made to reduce the mortgages. velve per cent on ten thousand dol rs amounts to twelve hundred dol rs a year. Out of this must come terest at the rate of five per cent. on ne thousand which you have bor- wed. This is four hundred and fifty ,llars. Your taxes will probably mount to two hundred and fifty dol rs per year, making seven hundred year of fixed payments. Five hun ed per year, then, goes into paying f your obligations. The next year ,ur interest will be decreased by five 1T cent. on the five hundred and in a short time you will own ,ur own home.
 Ten thousand dollars is more than necessary to pay for the average ,me but, should one figure upon five ousand, it is merely necessary to di- de the above figures by two for d orking plan. The presumption Is at if ten thousand was expended it ould be put into two or three fam 7 house. If one builds a three fam 7 house and an average of thirty dol- rs a month Is paid for two rents, le owner may own his own property a few years by actually putting out yty dollars "a month of his own