Bye bye big city!

[Texas82GP]

I think you guys are going about this as prudently as possible, given current circumstances. I can't imagine trying to finance a house right now, and interest rates aren't forecast to get any better.

The other upside of your delay is being able to really marinate on the details. Mirroring the plans is a perfect example. Having been in my place for about 5 years now, there are certainly some things I'd do different. The way the house is situated on the lot makes perfect sense in some ways but apparently the approach is confusing. We get package deliveries by the basement slider door sometimes because the front door (which is actually way closer) isn't visible from the driveway. You wouldn't even know the small front lawn and courtyard area are there. I guess curb appeal has a totally different meaning when you're rural.

Did your builder give you a timeline once the project is started? Are you planning to do the house and shop at the same time or one before the other?

Thanks. If we're anything, we're financially responsible. The interest rates don't make things easier but as they say, you marry the house, not the mortgage so hopefully we'll be able to refinance at a better rate later. Also, we don't intend to have a long mortgage out there. We want to have the place paid for in ten years or so.

It's been quite a learning experience and we have benefited from not being ready to move forward and having the time to re-evaluate things. I'm sure we'll make some mistakes. There are a million small decisions to make but I think it will be a very nice place to spend the rest of our lives.

I'm guessing that if we pull the trigger in March of 2024, we won't be out there until the spring of 2025, The house and shop will be built simultaneously. The only way for it to work financially is for me to be able to move out of the storage when we move in, so I can put that money into our home.

 

[ck80]

Thanks. If we're anything, we're financially responsible. The interest rates don't make things easier but as they say, you marry the house, not the mortgage so hopefully we'll be able to refinance at a better rate later. Also, we don't intend to have a long mortgage out there. We want to have the place paid for in ten years or so.

It's been quite a learning experience and we have benefited from not being ready to move forward and having the time to re-evaluate things. I'm sure we'll make some mistakes. There are a million small decisions to make but I think it will be a very nice place to spend the rest of our lives.

I'm guessing that if we pull the trigger in March of 2024, we won't be out there until the spring of 2025, The house and shop will be built simultaneously. The only way for it to work financially is for me to be able to move out of the storage when we move in, so I can put that money into our home.

Just a thought, but, if the worst case scenario is the shop built with the house, have you checked with the municipality as to the allowability of the shop being build BEFORE the house? (Sometimes it's called accessory structure without a primary dwelling and not allowed.)

It could do 3 things:

1) allow the shift from rent to savings to happen sooner. I.E - let's say shop built now, and don't by fall. Thefalk. Expect the house done fall of '25. you get 23-24 and 24-25 not paying storage. At $300/mo, that's $7200 +/- that repays itself earlier instead of someone else's pocket. It probably pays off 1/4 of the shop, and, may make the difference affordability wise on a bigger/better shop as well.

2) you guys can keep an eye out for finishes ahead of time to buy and have somewhere to store them until the house was ready. Appliances? NO. (Don't want warranty running early.) But cabinets? Flooring? Fixtures? If you can shop for good deals over 18 months, ESPECIALLY if this country hits recession and there's big discounts on the front end to rebalance inventory so they don't pay takes on holding it, that can really add up.

3) it gives a base of operations for you to do some of the work yourselves ahead of time. Stump removal... maybe you farm that out. But cutting down the trees? Being there to meet contractors and such? Gives a place to toss a cot or two, spend a few days at a time, getting stuff done. Lots cheaper to drop trees yourselves, and, if you can burn the refuse you don't pay for either disposal or risk having them bury junk in the yard.

 

[Ugly1]

I’ve seen (up here in New England anyway) people also use a camper as a base as the house or property is getting worked on. (Not knowing if you have one) but the garage idea ck80 mentioned is a good one if possible. As an added thing you could take marker paint and measure/draw out the floor plan. Seen a friend do it for a nonexistent kitchen and found some of the problems ahead of time.

 

[ck80]

I’ve seen (up here in New England anyway) people also use a camper as a base as the house or property is getting worked on. (Not knowing if you have one) but the garage idea ck80 mentioned is a good one if possible. As an added thing you could take marker paint and measure/draw out the floor plan. Seen a friend do it for a nonexistent kitchen and found some of the problems ahead of time.

As an added bonus you could make a campfire where the stove is supposed to be and tell the women folk this better be the ONLY time you find a fire there

 

[Texas82GP]

Just a thought, but, if the worst case scenario is the shop built with the house, have you checked with the municipality as to the allowability of the shop being build BEFORE the house? (Sometimes it's called accessory structure without a primary dwelling and not allowed.)

It could do 3 things:

1) allow the shift from rent to savings to happen sooner. I.E - let's say shop built now, and don't by fall. Thefalk. Expect the house done fall of '25. you get 23-24 and 24-25 not paying storage. At $300/mo, that's $7200 +/- that repays itself earlier instead of someone else's pocket. It probably pays off 1/4 of the shop, and, may make the difference affordability wise on a bigger/better shop as well.

2) you guys can keep an eye out for finishes ahead of time to buy and have somewhere to store them until the house was ready. Appliances? NO. (Don't want warranty running early.) But cabinets? Flooring? Fixtures? If you can shop for good deals over 18 months, ESPECIALLY if this country hits recession and there's big discounts on the front end to rebalance inventory so they don't pay takes on holding it, that can really add up.

3) it gives a base of operations for you to do some of the work yourselves ahead of time. Stump removal... maybe you farm that out. But cutting down the trees? Being there to meet contractors and such? Gives a place to toss a cot or two, spend a few days at a time, getting stuff done. Lots cheaper to drop trees yourselves, and, if you can burn the refuse you don't pay for either disposal or risk having them bury junk in the yard.

I’ve seen (up here in New England anyway) people also use a camper as a base as the house or property is getting worked on. (Not knowing if you have one) but the garage idea ck80 mentioned is a good one if possible. As an added thing you could take marker paint and measure/draw out the floor plan. Seen a friend do it for a nonexistent kitchen and found some of the problems ahead of time.

Where we're building/moving is deed restricted. They won't allow the shop to be built prior to the house and won't allow living onsite in a camper. The restrictions are a little bothersome in some circumstances but they keep the density down and keep the rifraff out. Too much population density and too much rifraff is the whole reason we want to move so I'll take the restrictions.

 

[DRIVEN]

Any update or still in a holding pattern?

 

[Texas82GP]

Any update or still in a holding pattern?

We are going to rebid everything around Valentines day in hopes of green-lighting the build in March. The inflation and interest rates are working against us though so I'm trying to not get my hopes up too much. None of us want to live here anymore. Dad beat us out so there's nothing keeping us here except our own financial discipline. My vote will be to go and live with less than what we want, if necessary. It's gotten bad here. Over 60,000 apartment dwellers have moved in since 2016. It sucks here.

 

[Ugly1]

We are going to rebid everything around Valentines day in hopes of green-lighting the build in March. The inflation and interest rates are working against us though so I'm trying to not get my hopes up too much. None of us want to live here anymore. Dad beat us out so there's nothing keeping us here except our own financial discipline. My vote will be to go and live with less than what we want, if necessary. It's gotten bad here. Over 60,000 apartment dwellers have moved in since 2016. It sucks here.

Sounds like a heck of a big influx from somewhere! You sure you’re moving far enough out?

 

[Supercharged111]

Sounds like a heck of a big influx from somewhere!

Gee I wonder where the source could be?