From a Client who is building his own house bit by bit
Hello Shawn,
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I’d be happy to email you some info on how we are doing it… basically it requires just saving money for a few months until we reach a goal, and then moving on from there. For instance, the first ‘goal’ was drilling a well on the property, so we saved money for about 3 months to have enough cash. It could have been upwards of $15k for the well, luckily it was only about $5k, that left enough cash left over to immediately move on to the second goal which was having the electric line installed (we are literally in the middle of nowhere, so the electric is very expensive to have lines run)…
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We are basically slowly poking away at it until we eventually will have it all done and are living in it (paid in full) with no mortgage or loans of anykind… One thing we are doing that is a little out of the norm, is we are having the basement completed FIRST. The basement alone is going to be about 1500 square feet, it has a full size apartment on one half, and the 4 kids bedrooms and a massive ‘play’ room on the other half. We are going to have that completely done next, then move into the basement (I guess like hobbits), then we’ll start work on the upper house once we are moved in… It is going to be 3 floors, the top floor is going to be my full size art studio.
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If you have any specific questions, please let me know.
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DA