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husker16
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# Posted: 8 Jul 2011 11:49am
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I'm at the beginning stages of my teaching career and just worried it'll be difficult to find decent sized land (over 10 acres) that I can afford. Add to that, the difficulty of finding land in an area that will have job opportunities for me and my wife (has a geologist degree). So I was just curious how you all made it work, finding a job that allows you to have a nice size acreage. What's your story on how you ended up with the land you have now?
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naturelover66
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# Posted: 8 Jul 2011 02:10pm
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My story in a nutshell...... I WAS a healthy fit 42 year old whos coronary artery ruptured causing near death and emergency open heart surgery. My lifes dreams of living closer to nature were more than ever slipping away. Realizing this made me finally and happily purchase my five acres and cabin in Northern Michigan..... its a land contract.... but easily affordable and will be paid off in ten years. Its everything ive always wanted and im working towards living there full time within five years.
With the kids grown..... i plan to live cheap and simply enjoy every precious day as it is a gift. I dont need a huge IRA....... I dont need a fancy SUV.......... I need to be day to day happy.
Good Luck to you! I hope you and your wife find your dream and live it.
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husker16
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# Posted: 8 Jul 2011 03:20pm - Edited by: husker16
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Nice story. Did you have to move in order to purchase your land? Did this affect your job? If married, your spouses job?
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naturelover66
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# Posted: 8 Jul 2011 03:27pm
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Nope...... we havent moved ..... we live near detroit. About 4 hours away. My husband is self employed..... im a vet tech with an awesome boss.
Lisa
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husker16
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# Posted: 8 Jul 2011 03:35pm
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Oh sorry, shouldn't have generalized thinking you were a male. Do you eventually want to move out to your land?
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rayyy
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# Posted: 8 Jul 2011 04:11pm
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I know when I was young,I had the attitude that I got the entire rest of my life to do the things I want to accomplish in life.I'll get to them,well Teens turn to twenties turn to thirties turn to fourties turn to fifties real quick.Next thing you know,,,Gee,I havn't done that yet.So,,,I'm getting it done.Especially with modern day technology on our side.I'm having a ball with this cabin building project.
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naturelover66
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# Posted: 8 Jul 2011 06:04pm
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Yes, I want to move out there asap. Im my happiest there........ its where i belong .
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hattie
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# Posted: 8 Jul 2011 07:18pm
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Quoting: naturelover66 Im my happiest there........ its where i belong .
Isn't that just the BEST feeling in the world? To know you have found the place you truly belong!!! We felt the same way when we purchased our property. *S*
In answer to husker16's question about job opportunities, etc. We built a small motel on our property so we don't need to commute to work and we live a very simple, downsized life. Nothing fancy but we don't do without the things we truly need. Life is good!!
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cabingal3
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# Posted: 8 Jul 2011 07:27pm
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Quoting: hattie we live a very simple, downsized life
thats the best,the very best
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Montanan
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# Posted: 8 Jul 2011 07:56pm
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Great discussion. My husband and I are in our late 30s and have 3 children (ages 5-10.) We both grew up in Colorado and when we moved to Montana we knew we eventually wanted to buy some land. I got tired of tent camping (sick of sleeping on the ground and having to be vigilant about grizzlies) and my husband didn't want to go the camper route, so we agreed on a cabin.
We kept our home and bought 32.5 acres last summer (we put a chunk of cash down but financed the rest.) We know many people who wait until their kids are grown and/or until they retire to build on their land, but we wanted our kids to grow up on our property. So, we took the plunge and borrowed the money to build our cabin. We are both teachers, so we have more time than money. We went through a builder to put up our cabin shell and we are spending the summer doing most of the rest of the work ourselves.
It's been stressful, financially, but we are SO thrilled to be realizing our dream so relatively early in our lives. And we're already reaping the rewards in terms of family time spent up there.
Our cabin is 2.5 hrs from our full time home, so no need to change jobs. Have you considered that option?
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Borrego
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# Posted: 8 Jul 2011 09:43pm
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Much like naturelover66, I was a very fit healthy 50 something year old, when one day I didn't feel so hot. A week later I was in the emergency room with a rare viral pneumonia, spent 2 weeks in room 206, almost croaked....
When I got out I couldn't move much for a long time, ended up on my laptop all day. (We had been looking at land before but not the way I started looking now) I decided one day to buy a place, any place, right now. So lo and behold there was a place on the MLS in an area we had looked at with longing before. I bought it over the phone sight unseen. The realtor even tried to talk me out of it - "there's a mountain on your property, you don't want that"
I thought it was cool... we still don't know how this happened or how we came up with the money or anything, it just all happened. My wife's viewpoint is that I got the place as a gift for going through all the pain, I dunno, but it is paradise to us and we will be there forever..... we belong there.
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husker16
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# Posted: 8 Jul 2011 09:51pm
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Montanan, awesome story that I can relate to. I am a teacher (trying to find work actually) and my soon to be wife is thinking of doing the same and I would love to move to Montana. Do you both work at the same school? It's great to hear that as teachers you are able to afford to have an acreage; it was one of my biggest worries. I want to live on my land instead of having a home away from it. I think that's one of my biggest problems. It'll be very tough to find a job for us both.
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husker16
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# Posted: 8 Jul 2011 09:55pm
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Borrego, I can't believe the realtor said that about the mountains.
we still don't know how this happened or how we came up with the money or anything, it just all happened.
That's awesome. Hope the same happens here. :)
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Montanan
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# Posted: 8 Jul 2011 10:26pm
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Quoting: husker16 I want to live on my land instead of having a home away from it. I think that's one of my biggest problems. It'll be very tough to find a job for us both.
Living on your land and getting to work is definitely possible in Montana! There are SO MANY great options near towns with schools. However, finding a job in the state is somewhat more difficult. It might actually be easier in one of the smaller towns (i.e. close to nice options for land) but the pay is terribly low. If I am correct, I think teacher pay in Montana ranks dead last in state rankings (though we might be 49th.) The upside is that the cost of living is also low, especially the cost of land and real estate.
As for us, no, we don't work at the same school. My husband teaches high school and I teach at the university.
If you're willing to move, you could try Wyoming. Starting salaries for teachers there average almost twice what they do here in Montana (and we lose a lot of graduates to Wyoming for that reason.) I don't know much about land prices there, though.
I think it's great that you're pursuing this dream! If you have more questions, feel free to ask.
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Montanan
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# Posted: 8 Jul 2011 10:27pm
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Quoting: Borrego The realtor even tried to talk me out of it - "there's a mountain on your property, you don't want that"
Borrego~ I can't believe your realtor said that, either. Our property IS a mountain!!
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toyota_mdt_tech
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# Posted: 9 Jul 2011 03:29pm - Edited by: toyota_mdt_tech
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I bought some land back in 05 (20 acres) and it was 350 a month for 20 yrs. I hate interest and payments, so we tripled down and paid 1000 a month till it was paid for in fall of 08. Paid cash for my cabin and all improvements to the property (driveway gravle, well fencing...) . I own it all outright. I paid off my home last month, I have zero debt now except a new truck which I got only because I knew my homes was going to be paid for. I got it 12K under MSRP, put 10K down and low interest, only debt, will have it paid for in 2 yrs (2010 Dodge Cummins Crew Cab 4WD) . Very early, I avoided interest/financing, interest makes you a slave to others. I work as a Toyota tech, roll 80K and up per year, wife works for county gov't. I'm 50, cradle robbing wife is 55 :D. I drive a 1/4 million mile Corolla to work, wife drives a 1/4 million mile Tercel, she does have a 4WD Highlander, just saving fuel, we both commute a way) I just ordered my plans for my home which will be on my 20 acres and no more than 800 sq feet. My current cabin wil be a guest house then.
I guess my secret is "use the pay as you go plan", I know its not always possible, but do it in any area you can. As soon as I started to do that, my savings piled up, made paying cash for everything a snap. Its been all downhill from there (as in easy)
I should be living in my new home in 10-12 yrs, start building it in 5-8. I want it small, cheap to hea,t cheap to cool. Big pantry, live simple, cheap, but comfortalbe. I do want intenet, dish TV, large shop that can house my mammoth tool collection which isnt limited to automotive, but wood working, metal fabricating etc.
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husker16
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# Posted: 10 Jul 2011 09:15am
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Nice plan you got there toyota. I eventually want to get to where I can "pay as you go". To be debt free would be amazing.
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Borrego
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# Posted: 10 Jul 2011 12:02pm
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I'm with you, toyota. Learned the hard way a long time ago, but once you get used to it, it's easy. We're relatively debt free, monthly output is down as low as it can go, work less relax more :-)
Our cabin is still under construction (just 'dried in') but so far every thing has been paid for in cash. I figure if you can't get it with cash, you don't really need it.......
I see a lot more of this with friends my age, cutting expenses, reducing workload, kinda backing out of the system. Especially with today's economy, whew......
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toyota_mdt_tech
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# Posted: 10 Jul 2011 06:03pm - Edited by: toyota_mdt_tech
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Well, I have a bunch of co-workers asking me now for financial advise, I'm not investment wizard or financial guru, but to them, it appears I am. Its just simple economics. Avoid interest, you will have so much more money for yourself. Some were way in debt, and after sharing stories all have taken my advice and are on their way to financial freedom, worked it out so when they retire, home will be paid for. I got an early start, as I'm only 50 now.
Some like to play early and go into debt, I worked, knuckled down starting early, now that I'm debt free (or almost) I'm doing the playing now and its much more fun this way.
Wife used to handle all finances, pay bills etc. Then one day I check the mail, notice what looks like a credit card bill. We had a few cards, nothing real high (balance) and I opened it up, and there was a VISA bill for a card I knew nothing about. Limit was 5K, she racked up $4,976 (had only $24 left) and she had just made a $100 payment, of which, $1.50 went to the principle. She had a real high interest, probably had one late payment, it was 22.9%. I called her up and chewed on her. Took the money from savings, paid it off, cancelled the card, paid off every other one, chipped away on all our other debts till we only had a just the home payment. I took over all bills, (banker online makes this so simple) finances etc from the day, it just got easier and easier. I saw that card bill and that is when everything started coming together. Now with banker online, I can see where the $$$ is going. She has freedom to spend $$$, just has to be reasonable, as I'm always watching. I have never had an issue, she knows it. Any big ticket items, we discuss it. She does spoil me too with cool toys and tools. And she like me handling all the bills/finances. So it will remain this way.
I guess in short, if you want to buy land, do it now, set aside and atleast get the land. Work on paying it off as soon as you can. Then work on building the cabin. But get that chunk of land as soon as you can, that will really get the motivational juices flowing all by itself. And before you know it, you are starting on your cabin.
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skinnersone
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# Posted: 7 Aug 2011 11:35pm - Edited by: skinnersone
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Bought my land 3 years ago on land contract. I wanted to leave Florida and go back to NY. It was $55,000. I searched for land that had been listed for a long time. Made offers on 3 of them. 3rd offer was accepted. I offered 10% down and $1000 month payment. The interest was high at 8% and the monthly payment was large but more went to principal so in the long run the high monthly payment saved me money.
Had I got a mortage the payment would have been like $350 and 6% interest but my credit didn't allow for that. It had 5 acres with large garage/shop. Paying the balloon off in November which will free up the cash to build my cabin. I do however wish I had saved the money and then bought.
Get online and find a mortgage calulator and amortization schedule. Its a shock for first time buyers. I paid $8000 in interest, $3000 in taxes, and $1500 for insurance in that time. I used it very little. If you are ready to build, happy to camp on your property for the time being, or just don't want to lose a property then you can try creative methods like this.
If you don't need it now try saving up some money and continue searching. When the right property comes up you will be in a position to make an offer.
You just need to try and be creative. I personally sold the firewood that was from the driveway and a few lots I made. Probably a few thousand worth of wood. Helped pay for gravel, and a few other things.
I am also running power, septic, and well for a lot that I will sell to help further my project.
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Malamute
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# Posted: 8 Aug 2011 11:02am - Edited by: Malamute
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First cabin was $3500 for a very rough cabin and 9 acres. Prices have gone up a bit since then.
Bought a 1/4 section of land for the next cabin, on contract from the seller. One payment a year, good interest rate for them, with the stipulation that I could get clear title to any part if I divided it if I paid them 1 1/2 x my purchase price per acre. I divided it into 3 40 acre lots and 2 20's. Took several years to sell them all, but in the end I had a 40 acre lot paid for and money to build the basic cabin. Ended up selling that place and living in town for a while (I'm claiming temporary insanity). Later bought a lot to build a cabin on to sell, when it sold, I bought 4 lots together, kept a 10, sold a 5 to build my little cabin on, and built houses to sell on 2 other lots. My place was paid for between houses, but I use it as working money for projects to make money with.
I live in my cabins full time.
I agree tho, avoiding debt is good. I've been debt free most of my life. I hate those times I'm not.
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smitty
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# Posted: 9 Aug 2011 06:21am
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Well,
We are blue collar folks.
i was a maintenance man, till lay offs..
Wife is an office lady.. I made 12 an hour she makes 11..
We managed to save up enough and bought our land, now working on getting set up out there. Wanted to be set up by this fall, but it;s looking more like spring..
Working on an old 4wd because we are going to need it, and I refuse to go into debt, so fixing up an old one.
Looking for jobs in the area, but haven't had any luck so far.
I have certifications, she has an associates.. May not find work with those immediately, going to have to do whatever we can get in this economy. I'm not above scrubbing floors..
That's about it. Our story.
We have a dream, and keep moving forward, baby steps..
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BlaineHill
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# Posted: 9 Aug 2011 10:09pm
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It's nice to read that spouses share a common interest in small cabins. My wife does not go to land, but is very supportive of my interests. I put 25% down on the land and financed the rest at 6% for 20 years. I am bulding the cabin pay-as-you-go. One of the benefits of a slow build is spreading the cost out over time. I don't intend to ever live there, but we are living in uncertain times so you never know. By the time I am done I will probably be in 150k. That's kind of an expensive toy so I remind myself that it will be the first thing to go if I end up short of money in retirement. At that point, I would down-size to a smaller property as I think I will always need the sense of peace that I find there.
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TomChum
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# Posted: 11 Aug 2011 03:42pm - Edited by: TomChum
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Being a longtime dirtbiker and nature lover, I've spent a lot of time wandering all over the backcountry. I only hunt for animal tracks, but some family do. I've always wanted a cabin in the woods, building stuff, off-grid. Now having a getaway was becoming even more important for family memories.
I went looking for 10-20acres, starting around 2008, and it seemed like 10-20 was going to cost $150-300k. I set up with JohnLScott.com website which emailed me lists of possibles. I looked HARD for a year, all I could find was 10-20ac subdivisions, with pavement and utilities, and most often with a 1/2 acre scar bulldozed into a hillside with a 3-acre driveway, and the remaining 16 acres so steep you couldn't stand on it. 20ac is a substantial plot (1/8mile x 1/4 mile). Some were nice, but often the nearby McMansions inflated the prices, and ruined all of my small-cabin notions at the same time.
So I "upped" my search to $400,000 just out of curiosity, is that REALLY what has to be paid for what I want? If yes - then I have to scale back my wants. This tact put me in contact with an entirely different set of realtors. I found a realtor who knew about a 1/4 section with no utilities, no winter access, and no asking price but he was CERTAIN that it was exactly what I was telling him I wanted,,,,,,,even though he'd never been there personally. I thought I've heard that one a few times, but what the heck? Well since I did this for the education of it, I at least ought to start looking at what is $400k. I looked at it and was not so thrilled because it had to be about ~~~ $400,000 and there was really no need to look at it critically. Plus I wasn't sure I 'needed' 160 acres or its taxes. I asked him, what offer would you think it would take? He said "I'd start with $150,000.
Game changer. A realtor suggesting lowball - normally its just me. I put on my poker face and said, "hmmmm OK,,, I'll have to think about it". I told my wife "I'm outta here, and jumped in the car to go take another look. This time it was sparkling, like a completely different piece of land. I found TWO little year-round streams, overgrown pine-needle roads leading to a great cabin site, lots of wildlife. It had been selectively logged 15 yrs ago and nature had rebounded.
Turns out the realtor had 30 years experience, and could look at topo map and mix that with his experience, and he knew what land was worth. I suspect it could have gone for at least $300 on the open market but he said that "It worked out well for everyone". The current market for forest land dropped further after I bought, but is still pretty low, it's a good time to buy. However, that said...... I am still on the JohnLScott lists, and while priced seem to have cut in HALF since 2008, I still never see anything quite like the deal I got. Lots more 30s, 40s available now though.
We negotiated a little, and I got it for ~$1300/acre. This was in early 2010. Which left enough in the budget for a 24x36 pole building, and 500 feet away (200 ft vertical!) a tiny cabin and I could not be happier. We even spent christmas 2010 at the cabin. Only problem is that it's too small for a family, and too remote for year-round, and I kinda don't want to change that aspect of it.
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Rob_O
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# Posted: 11 Aug 2011 04:36pm
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I was already established with a job and a city house when I decided I wanted out of the city, but not too far
Started off looking to buy 5 or 10 acres outside the "edge" of the city but not too far out. Found a few lots in my price range but nothing reached out to grab me until one day they dropped the bottom out of the price on one property I had been watching. Going rate in the area is in the $10K/acre range, I got 27 acres for $100K. With the cash I had, the equity in my house and some owner financing we were able to close the deal 4 months after I signed the offer
I've been working on the "pay as you go" plan but as things move forward I'm abut ready to tap that equity line once again to get my electric, water and septic in place. A few grand there will put me a year or two ahead on my build schedule and a that much closer to putting the "for sale or rent" sign in the yard at this place.
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Ann
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# Posted: 12 Aug 2011 04:35pm
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I took a different approach to cabin-building, which might encourage others who aren't particularly "handy" that it is still possible to achieve the cabin dream. I am a single woman in my mid-fifties, who has worked long hours for many years and been able to save a little money.
I was fortunate enough to have access to property through family inheritance, but did not have the know-how or skills to build. I used my savings for site preparation: road, excavation, foundation, well, septic system and electric connection. I functioned essentially as my own general contractor.
Then I took out a margin loan/line of credit against my investments -- it was an amount about equal to the cost of a modest-sized new car, and I have already repaid a third of it. I used that to purchase a custom-built 14 X 32 modular cabin from Zook Cabins. The cabin came wired, plumbed, fully insulated, with kitchen and bathroom, move-in ready after the hook-ups.
The whole process took about seven months, with the government approvals, inspections and permits being the most time-consuming.
I have been thrilled with the result, and have spent nearly every weekend at the cabin since the utilities were connected at the end of February.
It's been a wonderful retreat and reassuring to know that I'll always have a place to go if I lose my job or house in these uncertain times.
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Malamute
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# Posted: 12 Aug 2011 08:55pm
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Can you cook?
Jk, sort of.
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hattie
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# Posted: 12 Aug 2011 09:40pm
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Ann - Do you have any pictures of your place? It sounds GREAT!!!
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Ann
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# Posted: 19 Aug 2011 01:28pm
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I am not much of a cook, although I may learn to bake bread when I retire, as it should save money and taste good too.
I don't have a stove in the cabin at the moment, just a fridge, microwave (thanks, mom!), coffee maker and a one-burner hotplate. I have a hook-up for a stove, as well as for a stacking washer-dryer unit, in case I want to move in full time some day.
My woodstove has a cookplate on top also. Probably will get an outdoor grill at some point. So far, firewood, courtesy of my brothers, has been magically showing up on my porch.
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Malamute
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# Posted: 19 Aug 2011 01:39pm
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Was kidding, but nice reply.
I'd love to learn breadmaking also. Frsh bread smells so good. Would like to learn sourdough also, for bread, biscuits and pancakes. Made some starter once, it was good, but didnt keep it going.
My stove was from a camper, it's a little 3 burner with small oven. Had my cabinetmaker make a base for it so it is the right height, and doesn't take up much room. Works well in a small cabin. The microwave is handy tho.
Thought about using the woodburning kitchen range for an outdoor stove for summer use. It just sits in storage for now. would be nice to have an outdoor place to cook.
Do your brothers get out to Wyoming any? The firewood magically showing up on the porch is cool. Nice of them.
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