Wednesday, August 4, 2010

Plans For The Future

Even though I still have 7 months left on my mortgage plan, I can't help but think about what to do next. A neighbor of mine had a well dug last week so I called the company to find out how much a well would cost today. They sent me the neighbor's exact bill. $31,000. Wow. Actually, it was that much 3 years ago so I am glad the price hasn't gone up. I did a rough calculation of everything that I want to build on my property:

Well $31k
30'x60' steel garage $31k
Solar system $20k
Small 3 bedroom house $80k
Septic system $5k

At a savings rate of $20k per year, I would have to work for 8 1/2 more years. That's too much. If I keep this old mobile home for now then I have somewhere to live. I don't really need a house. If I don't have a house then I don't need a new septic system. I have electricity in my existing garage. I think I could replace my wood garage with a steel one and collect rainwater off of the roof, which would eliminate the need for a well. So all I need is a big steel garage for $31k. I would still have to work for 1 1/2 more years after the mortgage is gone to pay for it. Maybe that would be doable. The long term plan would be to convert half of the garage in to an apartment little by little. That way I could do it in stages without a mortgage.

I have plenty of time to decide but if I don't have a goal then I will be tempted to spend the money elsewhere...like on dogs...and horses...don't even get me started on horses. See there's this horse rescue and they need foster homes and I need a barn and corral and fencing and shade and hay and...and...and...maybe one day.

5 comments:

Over the Cubicle Wall said...

It is so sad to look at all those pups. You are doing a good thing.

Daizy said...

But it is so expensive. I can't imagine having enough money to foster horses. Maybe some day.

bugbear said...

One approach:

Read about drilling technology and techniques. Buy a used drilling rig. Drill your well. Now sell the drilling rig.

done.

much more outlay of $$ but in the end much less expensive after the sale of the rig.

bugbear said...

Since you don't need to move your rig you could build a fixed drilling tower on your land and use it as the base to install the drilling engine and gears. Then when you're done just cut it apart and sell resell the ibeams and the drilling components. Probably a lot less expensive than a portable rig.

Daizy said...

Brilliant Bugbear. I love it. I wonder if I would need a license.