Is building a house financially reasonable as a starter home?
Posted 01-12-2015 at 09:40 AM by Colombian_parce
Quote:
Originally Posted by brownbagg
i built my house 1100 sq ft myself for $49,000. its very basic, no fancy, stock general over the shelf plans. it will never sell for over 100k. Now remember the $49k is materials only. I did all the labor. To get it build would of been another 50k
but by doing it myself i was able to pay out of pocket for material and no mortgage, so if you have it built it would add another 50k and then if you got a moorage it would add about another 100k over the life of the loan.
so even if you have no experience , if you stay with a basic envelope , its very do able and you can save a lot of money. I recommend everybody build their own house.
I built mine because i couldn't find anything i like, i wanted a two bedroom with big rooms instead of the common three bedroom with very small rooms.
but by doing it myself i was able to pay out of pocket for material and no mortgage, so if you have it built it would add another 50k and then if you got a moorage it would add about another 100k over the life of the loan.
so even if you have no experience , if you stay with a basic envelope , its very do able and you can save a lot of money. I recommend everybody build their own house.
I built mine because i couldn't find anything i like, i wanted a two bedroom with big rooms instead of the common three bedroom with very small rooms.
What percentage of the labor did you do it yourself? Did you had background knowledge in construction? Do you think someone with no construction experience can build his own house if he educate himself watching videos on how to do it? I want to build my own house but im affraid it may be harder than it looks like.
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