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terric


Registered: 04/13/11
Posts: 93
Last seen: 10 years, 28 days
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Looking for my first house (cabin, etc.)
#19217071 - 12/02/13 12:32 PM (10 years, 2 months ago) |
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I'm twenty years old and I'm looking to move out of my parents house finally. A little bit of background information - I've held this same job for about five years now and Im about to graduate from school with an opportunity to make more money. I'll be working two jobs and I'll be making roughly 1K a week. Not the best money, but I have no bills and a new-ish car that is paid for. I live with my parents in a large house on twenty acres in the country. My idea is to build a cabin or a small home on a lake of my parent's so that even when I do upgrade one day it can be a getaway. I have general experience with tools, plumbing, gas, electrical work, etc. and I have family members that have extensive knowledge of construction that would be willing to help so a do it yourself project is definitely on the table, though I'm willing to contract the work out myself if the design is right I want something very small and stylish - it should include 1 bathroom, 1 bedroom, a kitchen, and a living area large enough to accommodate a pool table (odd requirement, but pool is my life). I plan to save a little bit more money over the planning period and to pay for the house in full as to stay debt free so the cheaper the better. I'm looking for suggestions, pointers, tips, designs, etc... Pretty much any advice this community could offer me as it would be my first house and I am young. To give you a rough idea of what I'm after, I really like this design http://www.dreamhomesource.com/house-plans/dhs/styles/country-house-plans/cabin-house-plans/dhsw75242.html#customize_plan
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The5thElement
Smile Friends :)



Registered: 07/01/12
Posts: 4,675
Loc: Canada
Last seen: 7 years, 2 months
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Re: Looking for my first house (cabin, etc.) [Re: terric] 1
#19217129 - 12/02/13 12:45 PM (10 years, 2 months ago) |
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1 k a week is quite a bit man, that's like roughly 26/h
1000 x 4 = 4000 month
4000x12= 48000 a year This is quite a bit of money to make, especially at your age. I would save up money for a loan, 10-15 k and then buy a house. If you have to stay with your parents for another 6-12 months so be it, imagine owning your own place by the time your 20-21 that would be sweet. It's better putting money into your own place rather than renting.
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terric


Registered: 04/13/11
Posts: 93
Last seen: 10 years, 28 days
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Re: Looking for my first house (cabin, etc.) [Re: The5thElement]
#19217144 - 12/02/13 12:49 PM (10 years, 2 months ago) |
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It is, only comes with two jobs and lots of hours though. However, my original plan is to stay with my parents for quite a while and save damn near every single penny and build something rather nice that is completely paid for.
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mpd
Lammen Gorthaur



Registered: 10/22/12
Posts: 9,660
Loc: Mostly at home... Mostly....
Last seen: 8 years, 8 months
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Re: Looking for my first house (cabin, etc.) [Re: terric]
#19217159 - 12/02/13 12:51 PM (10 years, 2 months ago) |
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If you are working two jobs, OP I don't see you having much spare time to work on the house project. You need a plan.
-------------------- There is no truer calling for mankind than that of true conservatism.
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badchad
Mad Scientist

Registered: 03/02/05
Posts: 13,373
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Re: Looking for my first house (cabin, etc.) [Re: terric]
#19217198 - 12/02/13 01:01 PM (10 years, 2 months ago) |
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I'm sure someone with more knowledge than I can chime in, but depending on where you live, building and safety codes can be a bitch.
This will be a much bigger concern if you ever decide to sell the place.
-------------------- ...the whole experience is (and is as) a profound piece of knowledge. It is an indellible experience; it is forever known. I have known myself in a way I doubt I would have ever occurred except as it did. Smith, P. Bull. Menninger Clinic (1959) 23:20-27; p. 27. ...most subjects find the experience valuable, some find it frightening, and many say that is it uniquely lovely. Osmond, H. Annals, NY Acad Science (1957) 66:418-434; p.436
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