How much to take a breath

Discussion in 'Homesteading Questions' started by TNHermit, Mar 28, 2006.

  1. TNHermit

    TNHermit Well-Known Member Supporter

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    I've been totaling up how much it would cost to just get things in a place where I would like it and I could take a breath and be in a maintain mode. At least for a while. It would take about40,000.00 for the house,shop and land. Not counting my regular bills.
    Was wondering where others are at??
     
  2. marvella

    marvella Well-Known Member

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    do you mean what it would take to pay off all debt, so just bills like food and utilities is left?

    i try not to think about it. i'm 52 and took on a 15 year mortgage two years ago. getting ready to re-do it (before interest rates get any higher) and build a little place. i'll be working my 40/ wk until at least 65.
     

  3. TNHermit

    TNHermit Well-Known Member Supporter

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    I'm in the same boat as you. But It would take that much to bring the place to the point I'm satisfied with it. Would still have the mortgage and regular bills. I'm planning on my SS check making the mortgage pmt. But like you I got a few years of work ahead :)
     
  4. marvella

    marvella Well-Known Member

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    yeah well, at least hauling myself out of here to go to work every day keeps me from getting bored. :hobbyhors

    gee, to get it to where i am satisfied?? i don't know, hadn't thought about it. but other than getting that house built, more fence and a few more raised beds, i've about got it where i want it. :happy:

    i like it where i am now. got neighbors, but you don't know it.
     
  5. Jan Doling

    Jan Doling Well-Known Member

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    I'm glad I didn't wait until I could afford it to homestead. What motivated me was my oldest dd starting school...I wanted her to have the stability of attending the same elementary school all the way through. So we parked the VW Vanagon on the unimproved land and roughed it Mon - Thurs nights and then went back home on weekends until the barn shell was up. Then we drove the van into that and were thrilled to have a concrete floor and metal roof. Eventually the studio and bathroom were finished so we did not need the van anymore. By the time she was in third grade, we were in the house. Being on the land gave us more security than the finished building did. If I had waited until the books balanced, we would not be there yet!
     
  6. Frank_P

    Frank_P Renaissance Man

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    About $80,000...pays off property, debts and leaves some for home repairs and home improvements...then the fun begins!
     
  7. Farmer Willy

    Farmer Willy Well-Known Member Supporter

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    I'll let you know soon as I find out. If you're not counting the mortgage---hmmmmmmm
    still no guestimate at this point. I will be keeping the 2nd job, the part time one till I get closer though. Takes away a lot of hometime but sure is nice to see building materials getting stacked up for 'fun time' and it's great to do the 'wiggly butt dance' every time we pay off another bill!!! I'm hoping to drive the last nail when the last bill gets paid, call Ramsey and tell him we're debt free.
     
  8. BrahmaMama

    BrahmaMama Well-Known Member

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    At this rate, the mortgage will be paid and I will be able to breathe sometime after I'm dead. Unless of coarse I win the lottery, and we're all hoping for that aren't we. :D
     
  9. BillyGoat

    BillyGoat Well-Known Member

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    My hubby and I both had a house when we got married 4 1/2 yrs ago.

    The one I had is close to town( the one we live in). The one he had is 2 hrs. away in the country.(our future homestead).

    We are finishing up a little more changes on the house we are living in, then are putting it up for sale. We should clear about 45-50k on it.

    We are going to then pay cash for a newer used travel trailer, (10k) live in that for a year+. While we are doing that we will be repairing, adding sheds and chicken coops and some solar panels to the other house. It is being rented by hubbys dad's wife's daughter.

    That way we can still write off all the changes on that house as rental property repairs.

    Then we will move into it. Right now the balance is 19k. With the rent and paying an extra a month after selling this house, it will be paid off fairly quickly. The house has a well and we are going to put the solar set up on it.

    We will keep the travel trailer for when we go to visit the kids. And having it on our property will be extra place if any family comes to visit or needs a place.

    My X-Terra will be paid off next month!! :happy:

    Then Freedom!!!

    I am medically retired without retirement.

    Hubby will be 50 this year so has a way to go.
     
  10. menollyrj

    menollyrj Joy Supporter

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    Hmmm... Without mortgage, we owe about $15,000 on our 2005 minivan and $1000 in credit cards. I don't plan on quitting work any time soon. I teach and love it, but DH does stay home. He was in Iraq and away from home/me/kids for over 18 months, so I made sure our finances were arranged in such a way that when he came home, he didn't have to go back to work. So far, it seems like we'll be able to make it comfortably on just my salary... :happy:

    I'll be glad when the van is paid in full. Our other vehicles are paid off already (pickup and my commuting car)...

    -Joy