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Post by M4Madness on Mar 14, 2020 15:33:25 GMT -5
Even though I have excellent credit, I have been saving up to build a nice detached garage. I don't like to borrow money and prefer to pay cash for everything -- my last vehicle payment was in 1994.
Anyway, this garage is going to cost me over $20K, and I was supposed to pay a 1/3 deposit this morning, but decided yesterday after Trump declared a state of emergency that I needed to wait a little while to see how the economy reacts before tossing the majority of my savings at this project.
My quote is locked in for 30 days from today, but I'm free to cancel the project with no repercussions. This is something I've wanted for a long time, so I'll eventually fulfill it. I just have to decide when it's safe to turn loose of the cash. LOL!
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Post by lawrencecountyhunter on Mar 14, 2020 15:37:54 GMT -5
Well we're hoping to close on a house this next or so, so I voted yes.
Interest rates are very low right now, great time to refinance a mortgage.
I guess it comes down to each individual's tolerance for risk, same as any other time.
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Post by treetop on Mar 14, 2020 15:51:53 GMT -5
I’m 50 50 on this as long as your job is on the safer side I don’t think you could find a better time to buy a home add on build a barn money is cheep right now.
But I’m with you not borrowing money right now it may be bad thing maybe a week or two wait could be in order.
I build speck homes as a side job I have one about done and had every intention on starting another in about two weeks that one got put on hold for a few weeks till I see how this shakes out
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Post by M4Madness on Mar 14, 2020 16:00:28 GMT -5
I have the cash on hand to have the garage built with no borrowing, but I won't have much in reserve until I can save it up again. I was initially going to build it myself (with friends) using materials purchased from Menard's and hire someone to do the concrete work -- until my brother talked me into getting a quote from DC Metals in Cannelburg. They will build it (including concrete) for $2K more than I can build it myself, and have it done in a few days instead of the 4-6 weekends it would take me. This will be stick built on a monolithic slab.
Have you guys priced concrete work? Wow! My cheapest concrete quote was $7700 + cost of stone, etc.
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Post by featherduster on Mar 14, 2020 16:29:30 GMT -5
Well we're hoping to close on a house this next or so, so I voted yes. Interest rates are very low right now, great time to refinance a mortgage. I guess it comes down to each individual's tolerance for risk, same as any other time. Is this the property you spoke of earlier with the woods and stream?
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Post by freedomhunter on Mar 14, 2020 16:35:35 GMT -5
A client of mine had dc build two different pole buildings. Very nice and hard to beat them on price. You might save a little doing your own finish work. You can take concrete work prices from 10 years ago and x1.5 you will get price now. Crazy! Try pricing a basement.
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Post by Woody Williams on Mar 14, 2020 16:56:19 GMT -5
When this virus scare is over (and it will get over) the stock market will take off like a sky rocket. The economic foundation is very good in this country. If your job is assured I'd go for it..
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Post by jjas on Mar 14, 2020 16:58:55 GMT -5
Worse case scenario you could borrow half the amount needed to keep a reserve. Then when things settle down, pay it off.
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Post by treetop on Mar 14, 2020 16:59:06 GMT -5
I have the cash on hand to have the garage built with no borrowing, but I won't have much in reserve until I can save it up again. I was initially going to build it myself (with friends) using materials purchased from Menard's and hire someone to do the concrete work -- until my brother talked me into getting a quote from DC Metals in Cannelburg. They will build it (including concrete) for $2K more than I can build it myself, and have it done in a few days instead of the 4-6 weekends it would take me. This will be stick built on a monolithic slab. Have you guys priced concrete work? Wow! My cheapest concrete quote was $7700 + cost of stone, etc. Yes I have I spent just under 23,000 on the last house I built that bought me trenching footers stone all the concrete for the slab and patio. House 1942 sq 800 sq patio plus 970 sq for garage front porch about 90 sq feet by the time I pour drive and side walks I’ll. have close to 32,000 just in concrete this house is a bit more as i have to pour sidewalks down two sides of the lot granted I poured in November and it cost more for hot water and calcium but I still can’t believe how much it cost and that’s not a bad price from what I’ve been quoted from other guys
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Post by M4Madness on Mar 14, 2020 17:04:20 GMT -5
A client of mine had dc build two different pole buildings. Very nice and hard to beat them on price. You might save a little doing your own finish work. I priced both pole barn and stick built configurations, but from the beginning leaned towards stick built. I prefer the look of vinyl siding that matches my house over a metal exterior. My house has a metal roof, so this garage will as well. I feel that stick built is the stronger choice, with its OSB walls and roof, as well as its monolithic slab, which will be much thicker under the overhead door openings than a pole barn's floating slab. I'll be insulating and finishing out the interior at a later date, as well as getting electrical service to it. It'll have 12-foot walls, so my goal is to install some sort of lift in the future.
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Post by M4Madness on Mar 14, 2020 17:10:06 GMT -5
Worse case scenario you could borrow half the amount needed to keep a reserve. Then when things settle down, pay it off. Funny that you should mention this because as a fail safe, I opened a $20K home equity line of credit a few weeks ago before this scare. I have flirted with the notion of borrowing half, as the interest rate is either 1.6% or 1.9% (can't remember) for 6 months, then prime minus one quarter. As long as the economy holds out, I could probably easily save up $10K by Christmas.
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Post by lawrencecountyhunter on Mar 14, 2020 17:16:10 GMT -5
featherduster yes, we're just waiting on the bank to finish up the paperwork to sign. Been through inspection/assessment/all that. It's a long process!
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Post by featherduster on Mar 14, 2020 17:32:55 GMT -5
featherduster yes, we're just waiting on the bank to finish up the paperwork to sign. Been through inspection/assessment/all that. It's a long process! EXCELLENT!
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Post by jjas on Mar 14, 2020 17:34:48 GMT -5
Worse case scenario you could borrow half the amount needed to keep a reserve. Then when things settle down, pay it off. Funny that you should mention this because as a fail safe, I opened a $20K home equity line of credit a few weeks ago before this scare. I have flirted with the notion of borrowing half, as the interest rate is either 1.6% or 1.9% (can't remember) for 6 months, then prime minus one quarter. As long as the economy holds out, I could probably easily save up $10K by Christmas. With interest rates that low, it does make it attractive.
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Deleted Member
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Post by Deleted on Mar 14, 2020 17:47:11 GMT -5
Buy buy buy stocks, it's still low
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Post by jman46151 on Mar 14, 2020 23:41:57 GMT -5
Well we're hoping to close on a house this next or so, so I voted yes. Interest rates are very low right now, great time to refinance a mortgage. I guess it comes down to each individual's tolerance for risk, same as any other time. We just signed the paperwork to refinance our house today.
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Post by HighCotton on Mar 15, 2020 7:45:14 GMT -5
Buy buy buy stocks, it's still low Not so fast. One should be very careful about “buying stock” at any point of a cycle. As a major purchase!? No way! I learned a good lesson in the late 90’s. A friend and I started drinking the “Wade Cook” nectar on rolling stocks and options. My main lesson: Invest whatever “disposable cash” you’re willing to lose! Fortunately I saw the light and did ok with stocks and options. My buddy. Not so. He got sucked into using 10’s of thousands from a home equity loan to fund his new addiction. It took him years to recover. While Cook ended up doing many years in the pokey! Most have no clue how to play the market. They say they play it and in reality the only stock they own is in the likes of a 401k, mutual funds,etc. My Grandpa probably gave me the best advice as a young boy: “You want to double your money? Fold it and put it back in yer pocket” he said!!!
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Post by span870 on Mar 15, 2020 8:07:43 GMT -5
I have the cash on hand to have the garage built with no borrowing, but I won't have much in reserve until I can save it up again. I was initially going to build it myself (with friends) using materials purchased from Menard's and hire someone to do the concrete work -- until my brother talked me into getting a quote from DC Metals in Cannelburg. They will build it (including concrete) for $2K more than I can build it myself, and have it done in a few days instead of the 4-6 weekends it would take me. This will be stick built on a monolithic slab. Have you guys priced concrete work? Wow! My cheapest concrete quote was $7700 + cost of stone, etc. Priced concrete or concrete work? I deliver concrete. There is a, shall I say, substantial mark-up on it. On the flip side have you watched finishers work? Way better being on my side of the windshield than the other. Beware, though. Huge difference between finishers and guys that do concrete. If they are laying welded wire on the ground without elevating it somehow, either pre or during the pour, the are just guys that do concrete. Don't waste your money on fiber. Either rebar or wire or you're just wasting money. This time of year you're going to pay extra for delivery for the hot water. Needs to be above a certain temp or you're going to have issues. Calcium chloride will cost extra. All adds on the bottom end but it's a small portion of what you'll end up paying. When it's delivered, beware of them ordering it on a certain slump and wetting it up when they get there. Each slump wetter than what we deliver cuts the psi rating. Not a huge deal if you're not parking heavy weight on it but something to consider. Biggest thing I can tell you is make sure the wire is elevated. As for pouring walls in basement, cost is in forms and pump. Very few are able to chute pour walls directly off a truck( on driver side and finishers). Pump truck starts around $300 an hour with minimum charge. Usually just no way to get trucks to all sides. Btw. We are going to destroy your yard. Blacktop driveway is 50/50 if it'll crack. They may bucket pour but bobcat will destroy your yards. Showing up with 9 yards puts us at about 90,000 pounds. No two ways around it. You'll be filling in ruts.
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Post by moose1am on Mar 15, 2020 9:23:25 GMT -5
I have the cash on hand to have the garage built with no borrowing, but I won't have much in reserve until I can save it up again. I was initially going to build it myself (with friends) using materials purchased from Menard's and hire someone to do the concrete work -- until my brother talked me into getting a quote from DC Metals in Cannelburg. They will build it (including concrete) for $2K more than I can build it myself and have it done in a few days instead of the 4-6 weekends it would take me. This will be stick-built on a monolithic slab. Have you guys priced concrete work? Wow! My cheapest concrete quote was $7700 + cost of stone, etc. Priced concrete or concrete work? I deliver concrete. There is a, shall I say, substantial mark-up on it. On the flip side have you watched finishers work? Way better being on my side of the windshield than the other. Beware, though. The huge difference between finishers and guys that do concrete. If they are laying the welded wire on the ground without elevating it somehow, either pre or during the pour, they are just guys that do concrete. Don't waste your money on fiber. Either rebar or wire or you're just wasting money. This time of year you're going to pay extra for delivery for the hot water. Needs to be above a certain temp or you're going to have issues. Calcium chloride will cost extra. All add on the bottom end but it's a small portion of what you'll end up paying. When it's delivered, beware of them ordering it on a certain slump and wetting it up when they get there. Each slump wetter than what we deliver cuts the psi rating. Not a huge deal if you're not parking heavy weight on it but something to consider. The biggest thing I can tell you is to make sure the wire is elevated. As for pouring walls in the basement, the cost is in forms and pumps. Very few are able to chute pour walls directly off a truck( on driver side and finishers). Pump truck starts around $300 an hour with a minimum charge. Usually, just no way to get trucks to all sides. Btw. We are going to destroy your yard. Blacktop driveway is 50/50 if it'll crack. They may bucket pour but bobcat will destroy your yards. Showing up with 9 yards puts us at about 90,000 pounds. No two ways around it. You'll be filling in ruts. My Neighbor ordered concrete for his new driveway addition. He wanted to add a driveway right next to his old driveway so he could park more cars in the driveways. He asked me if the concrete truck could drive on my yard to pour the concrete. I didn't want that heavy concrete truck tearing up my grass and compacting the dirt. If I had to replace the grass that would get driven over and torn up I would have to plant new grass. It's hard to get new grass to grow on a yard that is compacted down by the wheels of a heavy truck. I would have had to till up the soil and then replant new grass in my yard and that would cost me. So I said now. Well, he hired a Mexican to do the concrete work. They proceeded to tear up the boundary survey marker pin in the ground and went into part of my yard anyway. I wish I had been there when they did that as I would have called the Sheriff or shot them. My neighbor and I were good friends. We even went on family vacations together as we both had popup campers and like to travel and go camping. My step-daughter used to babysit my neighbor's kids. My wife got his wife a job at the hospital. But I didn't want that heavy concrete truck driving on my grass in my yard. We shared a property line. But they drove on part of my yard anyway. Neighbors!!! You are right about elevating the wire before you pour the concrete. And you need some way to hold the wire up off the ground so that it's in the middle of the slab and not at the bottom of the slab where it's not doing its job of holding the concrete slab together. It gives it more tensile strength.
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Post by beermaker on Mar 15, 2020 9:24:14 GMT -5
Good information from span. I'd weigh the cost of a pump vs potential yard and driveway damage.
He's, in my opinion, 100% right on fiber mesh. If it was my own project, I'd use welded wire across the entire slab and 1/2" rebar anywhere a vehicle will drive/park. Go to Home Depot and get some rebar chairs for elevating both the rebar and wire. Get some wire ties and secure the chairs so the finishers can't knock it off when you aren't looking.
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