How about a guestamite/budget for a barn & shop?

[woodrail]

Well, a young relative of mine just had an offer accepted for a split level house siting on 5 acres in a township in northern Ohio. Personally, I think he way overextended himself, but what do I know

So he wants an idea of what kind of barn to hold 4 or 5 horses with some shop space will cost. He wants to do this on the cheap, as in real cheap. I suspect t-111 pole barn cheap.

Wild *** guess on size would be 30x40? I have no idea how big of space is required for horses?

Could this be framed up for $5,000? Assuming all labor by him. I'm betting at least $10K to get the project started.

Ugh. I hate to see the kid in for $200k before 30 years of age.

 

[Daedalus]

I'm guessing bigger than 30x40. That's the size of my garage. Can't imagine having 5 horses in there, let alone with "some shop space".

$200k at today's rates is just over $1000/mo on a 30 year fixed. Everyone's idea of affordable is different, but it doesn't seem like that big a sum to tackle. I wish my starter home was that cheap. Good for him getting a place before 30.

 

[jd_1138]

I'm guessing bigger than 30x40. That's the size of my garage. Can't imagine having 5 horses in there, let alone with "some shop space".

$200k at today's rates is just over $1000/mo on a 30 year fixed. Everyone's idea of affordable is different, but it doesn't seem like that big a sum to tackle. I wish my starter home was that cheap. Good for him getting a place before 30.

Beats paying thousands in rent and having no equity. My brother lives in a pricey area of the country and has paid $1,500 a month rent for 20 years. That's $350,000 and nothing to show for it. And his landlord is an a-hole. When they call him to fix something like a leaky window or an old toilet, he goes nuts and threatens to evict them or raise the rent. I am glad I no longer live in that area.

My uncle built a nice barn about 20 years ago by himself with little help. He squatted down the back of his 6 cyl. Ford F-150 truck by having so many bags of cement back there for the foundation. lol. But I think his barn is only for 2-3 horses. Barns are simpler than a house to build. I'd say 10k to 15k might be manageable if he does most of the work himself and gets good deals on materials, but 5 horses is a lot of space.

 

[woodrail]

Just some more info to give you an idea of where I'm coming from. He has about a $50K job for 3 years or so, not real good credit, Married last year to a girl with some pretty serious medical issues, baby on the way. NICE livable foreclosed homes come up for $30k routinely. Granted, these are not property to raise horses on, but certainly good areas to raise a kid.

Quick math tells me $1,100 mortgage (13K a year), 3k taxes, 5k utilities. That gives him a debt to income of about 50% or about $1,700 a month to live on. I suppose that's OK.

So, back to the important barn question! Whats it gonna cost??!

 

[jd_1138]

I found this website. For a 36'x40' barn, they are quoting a price of 25k for materials that they will pre-cut for you so that would save a lot of cutting and planning. 33k to have it erected. But either price probably doesn't include the foundation.

http://www.post-beam.com/html/estimate_barn_cost.html

There might be a local lumber yard who will come out and estimate a price of materials for pre-cut lumber for the project.

 

[mburgett]

If he is doing it himself. There are many websites he can get an estimate on line diy pole barns in Ohio and a few others. Google Ohio pole barn kits

 

[mburgett]

Size of barn, would really depend on size of horses you will be keeping. Whether they will spend most of their time outside and can come in and out of their stalls. Average comfortable size for stall is 12x12, or at very least 10x12 for average size horse.

 

[sberry]

The building is nothing, he already cant afford it and horses.

 

[Spudland_Dave]

$100 per sqft, upfront or eventually, that's the real cost.

Too many Zero's there...or at least I should say, too many zero's for Maine.

To get a Shell up, 10.00/sq ft is about what it cost me. For me to end up with a 100% sheetrocked/insulated/etc garage is gonna be right around 15.00/sq-ft, and that's not cutting any corners and going with real nice materials...2x6 Framing, Zip sheathing, nice Pella windows, fiberglass entry door, 3, 8x10 Insulated garage doors, 3 liftmaster 3800's, etc..

Now this is 100% self built...materials only. Dad's rule of thumb for labor is 1.5x the materials, couldn't honestly tell you cause I only had 2 things done by someone else...the slab and the aluminum trim (Fascia).

Again, different parts of the country have different materials pricing and labor rates. I can also say that if I built my garage today I would probably be looking at 13.00/sq-ft because the materials are quite a bit more then when I locked in.

 

[LB-1911]

The building is nothing, he already cant afford it and horses.

^^ This^^

 

[Spudland_Dave]

I'm guessing some of you guys live in dying communities full of elderly people...where I'm originally from you could easily get a BEAUTIFUL home on 2-5 acres for 80k....down here were there are actual jobs and people, 200k is an average home...Without knowing his income, I don't think he's out of line...
Its not up to me to decide what he can or cant afford...

 

[LB-1911]

I'm guessing some of you guys live in dying communities full of elderly people...where I'm originally from you could easily get a BEAUTIFUL home on 2-5 acres for 80k....down here were there are actual jobs and people, 200k is an average home...Without knowing his income, I don't think he's out of line...
Its not up to me to decide what he can or cant afford...

Post #4

Just some more info to give you an idea of where I'm coming from. He has about a $50K job for 3 years or so, not real good credit, Married last year to a girl with some pretty serious medical issues, baby on the way. NICE livable foreclosed homes come up for $30k routinely. Granted, these are not property to raise horses on, but certainly good areas to raise a kid.

Quick math tells me $1,100 mortgage (13K a year), 3k taxes, 5k utilities. That gives him a debt to income of about 50% or about $1,700 a month to live on. I suppose that's OK.

 

[1967Impala]

The building is nothing, he already cant afford it and horses.

This X2 ......even "free horses" aint free

 

[CNGsaves]

x3 . . . . . . Horses are like boats . . . . only 2 days you LIKE them . . . . . day you bought them, and day you SOLD them !!

Can't afford a proper building, then no way in . . . . he..dubl toothpicks . . . . he can afford all the food, medicine, gear, and unknowns that horses will require.

Sounds like he's just one hiccup in finances from becoming a foreclosure himself.

 

[Daedalus]

This thread is a bit long in the tooth. The guy may already be committed to the place. That said, I agree with the comments. He'll be stretched kinda thin even without horses. Will he need to pay PMI? Don't forget home insurance (and all the other insurances). And what about saving for emergencies and for retirement? $50k ain't what it used to be. The medical issues and high utility costs are things I hadn't initially considered. If his salary is expected to rise steadily each year then maybe it'll only be a few lean years before things get much more comfortable...without horses.

 

[woodrail]

So my Nephew moved into the place, and spent his first night there Sunday. He's a good kid, generally pretty smart and logical. I'm just concerned that he may have picked up some bad habits from other family.

They already have one horse of their own and have two on the way. His wife comes from a "horse family", so I'm assuming they understand the expenses involved for the lifestyle. God knows I have no idea.

I guess the only thing to do at this point is wish him well, say "Good Luck!", and drop a prayer for their well being.

Thanks for the comments.

 

[Spudland_Dave]

So my Nephew moved into the place, and spent his first night there Sunday. He's a good kid, generally pretty smart and logical. I'm just concerned that he may have picked up some bad habits from other family.

They already have one horse of their own and have two on the way. His wife comes from a "horse family", so I'm assuming they understand the expenses involved for the lifestyle. God knows I have no idea.

I guess the only thing to do at this point is wish him well, say "Good Luck!", and drop a prayer for their well being.

Thanks for the comments.

Good for him...maybe?
One of the neighbors down the street from me are "horse people" recently sold their house because the $500.00/mo boarding for it was getting expensive (well to do area, they weren't starving themselves either). And that's on top of everything else...500.00 a month buys you 300 horses and air conditioning...complete waste IMO, but to each their own. I'm sure they see my Garage-Mahal and think they same thing.
To me, the house & garage weren't the financial problem...the horse was. Luckily I suppose you could fix it with $0.46 Cents and a loud bang.

 

[Cjk]

The building is nothing, he already cant afford it and horses.

I agree. He needs to rethink priorities.