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Old 01-19-2006, 06:01 PM - Thread Starter
 
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we're still in the dreaming phase of building our house but we do already have the land (we inherited it from my grandma). we're trying to figure out how much we are going to need to save. Clearly, the actual cost of things will depend on our specific circumstances. But I just have no clue how much things cost and so its really hard to set a goal of how much we need to save. So maybe you ladies can help me with ball park figures, or what you paid for the following:
1. clearing land - we will own about 5 acres. not sure how much to clear (would love suggestions on much of the lot should be cleared, we want ample room for house, garden, animals, playing etc). I would guess we'll clear around 2 acres. it's not very dense
2. well and septic tank
3. construction of house - hopefully we'll be combining cob and strawbale and we are hoping to do most of the work ourselves but will need to hire someone for electrical, plumbing etc.
4. my final thing i'd love advice on - does anyone know how mortgages work when you own the land? do you qualify for more money since you have equity? would you save enough to do one step, then save more before doing the next? or take out a mortgage and do it all at once?
thanks ladies, you're always so helpful
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Old 01-19-2006, 08:57 PM
 
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I can only help you out with one thing, I'd say don't get a mortgage. It may take longer to get your house built, but you'll save THOUSANDS in the long run. Plus the freedom of not having a monthy payment to make. Also, YOU own your house, not the bank. My dh and I are building a stone house and we won't get a mortgage. I'd reccomend looking for deals and recycled materials. For example, you can often get discounted windows if the store has had orders that were wrong or they never picked them up. Look for recycled lumber from an old barn or house. Your house gets cheaper as your creativty increases. Like my husband always says, "honey you cook better when we have no food in the house.
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