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How to build a house alone [video]

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Re: How to build a house alone [video]

#211

Post by saalweachter »

walshemj wrote: post #163
icebraining wrote: post #53

Earlier quoted context omitted.

A problem is that you can't get a mortgage to build it yourself. Being cheaper in the end doesn't help you if you don't have the money right now.

You cant get a mortgage for self build in the USA? - its a definite market in the UK and you can save quite a bit.

In the US, I know there is a sort of convertible building loan - you need to present the bank with a plan for something that will in short order be a house that can secure a mortgage. Once the house is complete with a CoO, it turns into a mortgage.

I'm guessing the loan underwriters will be uncomfortable with the risk profile of a decade long project of self improvement, but what do I know?

Re: How to build a house alone [video]

#213

Post by chrisBob »

icebraining wrote: post #100
HeyLaughingBoy wrote: post #87

Earlier quoted context omitted.

As I think about it (not in depth, though), does it matter? If you're building it yourself, you can't go that fast. The amount of building materials you can buy each month with what would amount to a mortgage+taxes+insurance payment each month would be just about what you could use up. So it would probably work out OK.

Land alone is often pretty expensive; can you get a regular mortgage to buy it?

Our land loan had similar interest to a mortgage, but was interest only with a balloon payment after 24 months. The bank's intent was to issue the loan and roll it into a construction loan with similar terms (which is what we did). This was all through a small local bank where the loan officer inspected the house himself prior to each construction draw.

The biggest challenge we had with the loans for land, construction and the eventual end-loan was "Why are you building a 1900 sq-ft house? You really shouldn't be building a house under 3k sq-ft."

Re: How to build a house alone [video]

#214

Post by xbryanx »

Dick Proenneke's Alone in the Wilderness is a wonderful TV show to watch if you're into this sort of DIY building joy. He starts with only a few tools and builds himself a little cabin in Alaska, narrating and filming the whole thing. Quite peaceful and inspiring.

https://www.youtube.com/watch?v=iYJKd0rkKss

Re: How to build a house alone [video]

#215

Post by eloff »

badpun wrote: post #173
dennyis wrote: post #148

Earlier quoted context omitted.

A good friend of mine owns around 50 houses and apartments, and does 95% of the work himself. He is super smart and impressive, however he is his own limiting factor in his growth. He literally can’t keep up with the work and refuses good deals. Learning to lead others effectively is key to growth in real estate investing and it’s a hurdle many unintentionally self limit their growth.

> Learning to lead others effectively is key to growth My personal pet-peeve: In 99.9% of cases, when people talk about "leading" in the business context, what they really mean is just "managing". Let's not infest our language with corporate newspeak.

Leading is a core part of managing. Or at least managing well.

Re: How to build a house alone [video]

#216

Post by madengr »

saalweachter wrote: post #156
madengr wrote: post #58

Earlier quoted context omitted.

Same with mine, back in 1942. Lived in it until he died recently at 100. Had seven kids in a three room house, and wasn’t until the 60’s he expanded it. Of course the only time the kids were inside was sleeping. Unheard of today. He also joked that he had a hard time getting a loan. They wanted to see plans, etc. “Why the hell do you need plans for a house?”. He built aircraft; those you needed plans for.

I recently got a copy of "A Field Guide to American Houses", from which I learned the term "vernacular architecture" and that all the house names you hear on TV (Victorian, Cape Cod, Ranch ...) are just one slice of architecture, "polite architecture", and historically not a very big one. The way most of us think of architecture today, an architect designs the building to some (not necessarily well thought out ;-p) p…

Yep. His house is in Pensacola, FL. So the interior walls are stained pine board (FL panhandle prized by Spain for pine timber & naval stores). Exterior is clay tile with an air gap to prevent interior moisture build up. Steel roof.

Re: How to build a house alone [video]

#217

Post by eloff »

ghaff wrote: post #205
MajorSauce wrote: post #162

Earlier quoted context omitted.

This is irrelevant since he provides labor/services by himself. You are telling me that if economy is properly working, a mother should not cut the daughter's hair since it should not be cost saving ? I'm sorry if I misunderstood your point.

He's basically arguing comparative advantage. You're better off spending the hour programming and paying the contractor a (well, maybe) lower rate for them to do the job faster and better. Which is fine as far as it goes for theoretical economics. But, in practice, as in your example, the mother probably doesn't have a way to get paid for doing some other task rather than cutting the daughter's hair--and would likely…

You'd be surprised. I've met some general contractors making about 2-3x what a senior developer makes. That's in Vancouver where there's a roaring real estate market, and senior developers earn half what they do in the US.

I return my cans and bottles for the deposit. Every time I do it I think it's completely illogical because I'm losing $50 each time over just spending the time programming. I justify it to myself as getting paid $5 to take a walk. I can't spend every waking hour programming or I'll burn out. I'm not sure I'm not just trying to rationalize irrational behavior though.

Of course I look like a homeless person walking down the street downtown with two big bags of cans, but I don't let that enter into my calculation.

Re: How to build a house alone [video]

#218

Post by dsfyu404ed »

vvanders wrote: post #195
andys627 wrote: post #186

Earlier quoted context omitted.

Yes they require _someone_ to have a general contractor's license and insurance.

Most actually go a lot further than that. We're in the process of building right now with a large-ish builder + separate lender. We can't even do the painting ourselves, the mortgage company requires that we hire it out. I'm short on free time anyway so it's not that big of a deal but finding a lender that would let you do everything is probably a bit tricky.

Finding a contractor who will take a few bucks under the table in exchange for putting their name on the paperwork and checking your work prior to code inspections is not usually that hard.

Re: How to build a house alone [video]

#219

Post by newnewpdro »

erikb wrote: post #69
chrisseaton wrote: post #5

It looks like the entire thing is made of chipboard and planks of wood? Is it a temporary building? How long does that last?

This is how Americans build houses. And they sell them more expensively than the massive houses we build in Europe.

What's being done in the video appears to be on the extreme low end of the budget spectrum. The use of OSB joists is not what I would consider the national norm today. Joists I believe are typically built from dimensional lumber of the Douglas Fir variety.

OSB is usually used in the sheathing alone, which can easily be replaced when needed (OSB can't get wet). On higher quality builds, plywood is used for the sheathing.

I've never seen a home with OSB joists, but most of the homes I've seen under the skirt of were built between the 1950s-80s.

Over time the average build quality has certainly diminished. OSB usage continues to increase despite its obvious problems. It's another casualty of population growth. Consumer goods are made of plastic, and your homes are increasingly made from glued together woodchips.

Re: How to build a house alone [video]

#220

Post by badpun »

eloff wrote: post #215
badpun wrote: post #173

Earlier quoted context omitted.

> Learning to lead others effectively is key to growth My personal pet-peeve: In 99.9% of cases, when people talk about "leading" in the business context, what they really mean is just "managing". Let's not infest our language with corporate newspeak.

Leading is a core part of managing. Or at least managing well.

Leadership is about making people genuinely want to do things. Jesus, Napoleon, Lenin, Steve Jobs - they were leaders. Managing, on the other hand, is about handling employees, who are doing what you tell them to do only because you pay them.
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