Well, Made A Decision... Shop/House

[Scott Coffelt]

So, those that have been kind of following along. Bought the 2 acres last September, decided to build a house and nice shop. Many delays, put the house up for sale, lots of lookers but always something. More delays.

So I have had some time to think, the wife and I have decided that since we like the house payment we have now, and the new one would most likely be 3 to 4 times higher, and I also like to eat and occasionally buy tools... all of would be in dire jeopardy if we build....

We have decided to stay put and put the lot up for sale. So, looks like I am stuck with a 324sqft shop and will have just dream of what 1000sqft would have been like. Positive is that I get to keep eating, and occasionally buy tools.

Bad thing is I had finished one of the cabinets for the new house with one about 80% complete. I'll have to recycle those into something else. I'll take the 200bdft of B/E Maple I got and build me new cabinets for the old house. Anyways, just thought I would provide an update on my progress or lack there of.

Anyone now somebody in the KC area looking for 2 acres, hit me up. I'll be selling by owner in the upcoming weeks.

[Bob Noles]

Scott,

It sounds like you have made a wise and informed decision. The grass always looks greener until you climb over the fence :)

A 324 SF shop isn't so bad, mine is only 210 and I feel it makes me stay organized because there is no room for clutter.

Look at it this way.... 2 acres of grass to cut wouldn't leave you much time for wood working :)

Thanks for the update.

[Roy Wall]

Thanks for the update Scott........

Tuff decision.......but sounds like a good one....

[Steve Clardy]

Maybe you'll find something else later on. Just keep looking.
Steve

[Chris Padilla]

Big bummer, Scott! I bet you two are quite disappointed. :( Looked like a decent spot when I visited there last September. I hope you can somehow break even from the sale of the land or even make a few bucks if possible. Real estate isn't so bad to have as an investment and perhaps you can build on it in a few years?

[Bill Lewis]

I'm sure that was a tough decision, probably one of the hardest to make.

So, I'm curious, what's 2 acres go for in the KC area?

[Ken Fitzgerald]

Tough decision Scott! But maybe for the best! Once in the numerous times I've moved for corporate America, I got "house poor". Being house poor left little money for other things. I made sure when I moved to Idaho I wasn't in the same boat!

[Frank Pellow]

Scott, I am sorry that you had to make that decision. You must be very disappointed, I know that I would be.

[Don Baer]

Tough decision Scott! But maybe for the best! Once in the numerous times I've moved for corporate America, I got "house poor". Being house poor left little money for other things. I made sure when I moved to Idaho I wasn't in the same boat!

Thats why LOML and I plan on selling our Big $$$$ fairly small house and move out of state to get a $$ bigger house and pay cash with the equity from this house. Then I should have the $$ t support my hobbies...

;)

[Randy Moore]

Scott, Sorry to hear of the decision on not building but it seems that we all have to eat and get to SMC and pay those bills that come every day.

I feel your pain, we was talking about movin'g but food and bills are making us stay put.
That's life

Randy

[Corey Hallagan]

Scott, it could be alot worse space wise, belive me! You will adjust to it and in the end that lower house payment says alot. We have been where you are and I just couldn't do it, so we have been gutting this house and totally redoing it. I also worked a shop rehab and some new tools into the remod plan as well :-) such as new compressor and nail guns, table saw, sawzall, blah blah blah...... see, there is a method to my madness! Good luck Scott!

Corey

Corey

[Scott Coffelt]

I'm sure that was a tough decision, probably one of the hardest to make.

So, I'm curious, what's 2 acres go for in the KC area?

Depends on location, any where from about $100k to $250k. This is a 2 acre all treed lot with full utilities, though septic and has a creek. Many lots you find have just electric, water and telephone. It took about a year to find this lot.

I have no doubt when it goes up for sale it won't be long on the market.

Thanks guys, it was a little hard in the beginning, but then level heads set in and it really wasn't bad. A smaller shop just means more festool equipment :rolleyes: .

[Ron Jones near Indy]

Sounds like a wise decision Scott. You will be able to get additional tools, wood, etc and make some very nice changes in your current house. If you and your wife are happy with this decision, I'm sure it is a wise one.

[Tom Pritchard]

Hey Scott. I'm so sorry to hear of your predicament. I remember when you first posted about the land you bought, and how excited you were about it.

We are in a very similar situation. We bought 7.5 acres over a year ago, and our dream is to build on it in the next 3-4 years. Well, things are always tight as you stated, and my job is not very secure, but we are looking at alternatives. Have you considered a modular home? There are a lot of well built units out there that can put you in a great home for a lot less than building. You could also look into a pole barn for your workshop. Start basic and add the extras as $$$ permits.

I know it was a tough decision, but if it's something you and your wife really want to do, you may want to look at all the options before you give it up. Just a thought....

[Tim Morton]

Hey Scott, something to consider...as land prices continue to climb, why not hang on to that land for a few years...I would have to think that would be a GREAT investment. Eating is WAY overrated anyway...:D

[Bill Lewis]

Hey Scott, something to consider...as land prices continue to climb, why not hang on to that land for a few years...I would have to think that would be a GREAT investment. Eating is WAY overrated anyway...:DTim is right on, If you can hold on to it longer it will only appreciate.

For example, we put a contract on our 2.24 acre lot in 2000. It took a little over year and a half before the sellers got their act together to let the sale go through. It took about another 10 months to build. We've now been in the house for about 2 years. We paid about $150k for our lot. during that year and half "waiting period" the owners/partners were really trying to get us to go away so they could raise the price on it. We hung in there, and we're glad we did. There is a lot directly in front of us that the guy paid about the same as we did for ours, but in 1999. He was going to build (and he's a GC) but has since decided to move in to an existing home instead. His lot is now on the market for, are you ready?, $600k :eek: . Granted, this is one of the craziest real estate markets in the country, but I wouldn't be surprised if he gets it. I did a quick land search, and 1. there isn't alot of it out there, and 2. it is all in this price range. This is a street front lot, with city water (no meter), and septic approved.

[Jim Becker]

I gotta agree with the others, if you can hold on to it for "some period of time", whatever that may be, you'll likely reap a profit, even if things slow down a bit. Someone will want that property a whole bunch one of these days and be willing to hand over a whole bunch of dead presidents for it!

And while I'm sorry you've had to rethink your situation, sometimes things happen for a reason. Consider it an opportunity to take advantage of.

[George Bledsoe]

It is always a little disappointing to have your plans fall through!

But it will work out as it is supposed too, it usually always does.

Bigger question is when is this housing bubble going to burst, it will it is just a matter of when!

[Bart Leetch]

Tim is right on, If you can hold on to it longer it will only appreciate. We paid about $150k for our lot.

His lot is now on the market for, are you ready?, $600k


.

The LOML & I were looking at a place not to long ago 6.3 acres 1550 SQ Ft manufactured home & 1152 SQ FT pole building shop with 2 roll up doors & walk door & 2 3x3 windows & breaker box in the shop. Well & septic. $255K. The above prices :eek: make our prices here look great. :D

[Frank Pellow]

The LOML & I were looking at a place not to long ago 6.3 acres 1550 SQ Ft manufactured home & 1152 SQ FT pole building shop with 2 roll up doors & walk door & 2 3x3 windows & breaker box in the shop. Well & septic. $255K. The above prices :eek: make our prices here look great. :D
I don't think you want all that shop space Bart. :D You have been so creative at using the limited space that you have now that you would miss all that fun.

[Bart Leetch]

I don't think you want all that shop space Bart. :D You have been so creative at using the limited space that you have now that you would miss all that fun.


But but but Frank :rolleyes: I wouldn't be running into my self coming & going while trying to build something.

I really only need space to have a nice assembly table area a & one or two more storage cabinets & easy access to sheet goods & room for a Foley Bellsaw 12" planer & 2 shapers & another Table-saw with an 8'x8' out-feed table with the 2 table-saws set a 90 degrees to each other also room for a 10" RAS to go with my 12" RAS & horizontal boring machine to dowel face frames & another Drill-press. The tools listed are most of my Dad's tools which would be real hard to get rid of. There is also an 1950's Craftsman Jointer which matches the table-saw. I would like room for an 8" jointer & sell the 6" I have now,I may keep Dad's 6" when the time comes though. I just hope he sticks around & keeps using those tools for a long time. he's 83 now.