I Built My DREAM HOME for just $300k | Part 1
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- เผยแพร่เมื่อ 1 มิ.ย. 2024
- 👉🏼 Watch my full land training video here: kaiandrew.com/free-training-l...
Nowadays housing prices and cost of construction are insane. But what if I told you that with some creative design and planning you can build your own dream home oasis for around $300,000. Well, I did it. The majority of my videos you see on this channel are from the home and property I built for $285,000. This video is part 1 of three videos, where we go over the first critical 5 steps to building your dream home. Be sure to subscribe and comment if you want parts 2 and 3.
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* DISCLAIMER: All content on the Kai Andrew TH-cam channel reflects my own opinions and should NOT be taken as legal advice, financial advice or investment advice. Please seek out guidance of professionally trained and licensed individuals before making any decisions. Some links in the description may be affiliate links at no additional cost to you.
Credit:
Editor - Ayush Rai
Music - Epidemic Sounds
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I did the math, and buying a used excavator or a backhoe will cost me pretty much the same as renting it for a long period of time. And at the end, I can sell it for pretty much what I paid for, and the excavation was free.
Haha smart. We considered that too. I think the one we were looking at was like $20k. The monthly rate was around $2k and we only needed it for 5 weeks. So we ended up just renting.
I'm definitely waiting on part 2. Outstanding breakdown of how to do this realistically. Thank you
So inspiring and clear with practical caveats-thank you!
The clarity in this video is reatly appreciated!! Part 2 pleaaaaaase and thank you!
Sir, we absolutely need part 2. Great details and sharing from experience! Love it, thank you
This is GREAT Kai! Thank you for taking the time. Part 2 please.
We own land on the foast and have been wanting to build. Waisted money on an architect who pretty much ignores my request for smaller and higher design. Frustrating and hard to find the right professionals that align with my values. I'm sure they are out there, just need to keep looking.
I see the confidence and the growth Kai. You cut out the jokes and fluff and give straight facts and great content! Been watching you since you had 5,000 followers
OG sub. Respect. ✊
Great video. Ready for part 2.
Good content !
Waiting part 2 !
This was a great video !!
Thanks
Waiting for part 2
Working on it!
Indiana, land included, this might be possible in most places since you spend $90K for your land. Granted, the parcels will likely be smaller for that price. There are builders in the Central IN region that will build a home for under 300K, but you have to look for them. Being your own contractor, as this video implies, might be able to get you your house for cheaper still.
This is an excellent video. Thank you.
Thank you for all this info!!! I needed this info badly for my plans! ❤❤❤
Straight up information and value.
Subscribed.
Absolutely need part 2
A couple arguments to your points:
- Size: My house is 2300ish square feet and we use *every inch* of it. Your assessment may be right for some, but certainly not all
- Land: you're right you definitely don't have to live in a large city (I don't), but you *cannot* find land for 50k or under everywhere, it's just impossible in some areas (speaking from direct experience)
Exactly, my thoughts. A larger floor plan doesn't necessarily mean wasted space. However, I will concede that it is hard to find functional layouts when purchasing. I'm finding it quite expensive to find the right property and then also wanting to gut or rebuild. But I rather be in the city, I'm used to it.
I really love your videos. I'm at the beginning stage of things. You've done a great job breaking things down. I understand the process already, but you brought more insight to my future plans. Thank you.
Glad to help!
So informative! Thank YOU
Glad it was helpful!
Dang I got invested and not realizing it was multi part. I need part 2 asap!
Love the way you broke it down👍
Love it Kai
Waiting on part 2!
Great video
Thank you i
Land costs in my province are insane! I wish I could find land for less than 300k! you get not even a quarter acre of undevelopped, no utility lines land!
What do you mean at 6:30 when you say off-grid applications don't create any type of equity?
Hey @Kai Andrew , I've just discovered your channel and im quite impressed with the editing. Can you share your editing software? What is your workflow?
Helpful
I have a rainwater collection system for my property that runs through 3 separate filters and I only have to get water trucked in once a year if that.
Nice! That’s a good setup.
Love it ❤
Thanks :)
Septic and well will run about 30k average.
Depends on size of septic and type. Well depends on depth and amount of water required. But $30k is a good estimate.
What about offsetting some water delivery costs by designing for rainwater catchment early in the design phase? Ready for part 2.
Yeah, that's a great option as well.
I rarely comment, but just wanted to say that this was a great video and I'm excited for the next one!
Glad you enjoyed it!
Another quality video as usual, looking forward to pt 2
Coming soon!
@@KaiAndrewas unique and genius there’s only one KaiAndrew your appreciated bro.
Part 2
Maybe you can mention how to find good builders for a fair price in a more remote location.
This why he builds it himself ha.
REALLY interested in this series. We recently bought 10 acres of land from my parents, for $4,000. 1/3rd open field, 2/3rds wooded. Beautiful and quiet. Just had a perk test done ($1,500). We are aiming to keep our square footage under 1,500 - want functional and manageable space, rather than a hassle to maintain. Looking forward to part 2!
🥰🥰🥰
Omg 10ac for 4k! You can't get half an acre around me for less than 400k.
@@baitball4665 Yeah... I feel your pain. It's absurd what real estate is doing.
@@baitball4665it’s cause he bought it from his parents.
What kind of lights are under your cabinets?
Hi Kai. Great video. But did I miss the part where you show what you build from the inside? This could be a random home anywhere in the US filmed with a drone. Also, what do you think about the interior costs? I don't see them in your calculation. Thank you.
Part 3 coming up soon.
Great video!! Can’t wait to see the next one
Thanks! Coming soon.
Hey Kai, In the plot you specified in this would it not be zoned as agricultural or conservation land as its unbuilt? if the land is far away how would it get zoned for housing?
The land should already having a specific zoning designation that will inform you on what you can build.
This was very helpful. How much is a consultation? I'm looking to build one next year. They're many steps I have to do prior to building, I'm literally starting from the beginning. I'm now looking for land, then doing a perk test and survey and then I have to get my floor plans, electrical plans and plumbing plans created. I'm really thinking, "can this really be built for $300K or less?"
what is the design/or builders for the house at 2:50 and at 3:09
Haven't you noticed a steep drop off in bookings, rates plummeting and net income declining?
just 300K
Am I take crazy pills? How much do people think homes and land cost these days?
@@KaiAndrew why so defensive
awesome videos as always... would love a super deep dive on zoning, permit etc... cost can vary wildly ... i called the city to see what it cost for my 4 unit to be hooked up to city sewer and the permit alone was 10k
Glad you liked the video. Yes, things can vary a lot!
Great tutorial. Thank you so much.
Glad it was helpful!
This was good to know, you and Rob give all the truth that we need to go about things the right way.
Who is this Rob guy I keep hearing about...? ;)
@@KaiAndrew Lol 😆!!!!! Great minds think alike 😉
In Australia you cant build a box without the gov arm deep inside you
Great video Kai! Pretty much all the stuff I need to do on that property I wanted you in on in Lincoln Montana 😁
Thanks. Good luck with that property.
You should change the title to " I Built My DREAM HOME for just $300k | Part 1"
itll get a lot more views
Let’s give it a shot…
did not expect you to be here but sup
Part 2?
Just so you know, we typically recommend a liquid budget of at least 40k from our new members, as we have found that to be a good starting point to get involved in land hacking, depending on the area, whether or not you already own land, & whether you plan to do a lot of the work yourself or hire it out. Our top priority is to ensure the success of our students in their land hacking ventures & we believe that starts with a sufficient budget.
Can you do a video those who are in a budget but still able to build their dream homes? For example budget of $180k, buying land, building a container home, ext. just to get an idea.
You can use this same strategy but just scale it down.
@@KaiAndrew got it!! Thank you
Look into kit homes like Arch Cabins
@@This-Is-My-Little-Corner thank you very much
30-60min claim might be true for central /east coast, def not the case on West Coast
What shirt and short are you wearing?
I think either Spoke or Western Rise.
@@KaiAndrew love it!
Maybe another thing to consider when purchasing land is natural disasters like tornadoes? Wouldn’t it be pointless if a nado comes and destroys your house? 😅
Great content!! My 9 year old Emmarosa and 6 year old Tosca say thanks for the shout out during Sunday’s live chat ! Wish I recorded their reactions! Thanks to you and Rob I just close on my first parcel of raw mountain land in the Pocono’s 🤙🏻
YEAH, also... the pricing of houses and land are insanely high. so... there's is that.
In certain cities, of course. You're a person with the ability to choose where to live (assuming you're in the US). Choose a location that's more ideal to your financial situation. Don't sit in the Bay Area complaining of housing costs. Drive an hour north or east and things are more affordable. Can't afford an area? Find a new area.
I've been thinking of doing this for my starter home. Thanks for sharing! QUESTION: Are there construction loans that'll cover building like this? In my research, it seems like I'd have to pay cash for the land and possibly get a construction loan for the rest.
Yep, there are construction loan options. Check with you lender.
@@KaiAndrew Looking forward to Pt. 2 :)
Very nice, take into account buying land on a lakefront and the home would easily be worth 400-500k after its complete if not more depending on the area.
Absolutely!
For those living in Los Angeles, none of this applies to us, the remaining cheap lots are all on a heavy slope and basically not accessible and will probably cost 300k just to get utilities setup.
Ha, yeah it’s tougher in cities like LA or Bay Area unless you go really far east
@@KaiAndrew thanks for the reply, us 20-30 year olds in LA is facing a true housing crisis. Loan officers are telling me people are spending up to 80% of take home income on their house payments, how is this not another bubble?
Also airbnb not allowed in LA....🙄
@@MikeHawk143 That’s interesting because we have stayed in air BNB’s out there
@@This-Is-My-Little-Corner only allowed if owners onsite.
I want to invest in a property and create something unique for Airbnb renting.
I have some money saved and recently got a salary increase that allows me to save 60-70% of my income, I live in Romania, Europe where land is pretty cheap, how can I book a call with you and what should I research prior to our call?
I need a mentor and in Romania it seems like I can't find someone with the level of experience you have. I don't know if the same strategies are applicable in another country outside the US but I still want to do it.
Awesome! Yeah the process is the same but of course legal, politics and zoning will vary.
Andrei. A lot of it is homework. I built in Ro in 2005
Kai is right.
@@mirceaancuta7863 Can we get in touch to talk more about this?
My dream home is in a walkable city lol
Feel that. It's ultimately a trade off of affordable space vs proximity
air b&b's are crashing all over the US. yes build smaller. be careful of flood planes they terrible for ins and financing. talk to the local city/county blg depts too, not just look up the parameters.
Agreed.
Shooot I just listed one last month and Im at 40% of my goal for the remainder of the year already. Not sure if you are talking subprime locations or what, but in Michigan its all going great.
This is true if you live in places like Portland, Kansas etc. You live in LA or NY building a house is like a million lol.
i'm trying to find multifamily kits with with structural engineering included....can anyone help me?
Just hire an SE if it doesn't come with one. But any legit company would have engineered plans.
This is for people who want to build an investment property, not for people (like me) who want to build their personal forever home. The objectives of these 2 groups of people are very different!
You can definitely start your forever home. Just be clear with your expectations. If you’re trying to build a 5k sq ft home overlooking the city of course that’s out of reach. However, if you’re looking for land to start with a high quality 1000 sq ft home this is great place to start. You can alway add on and build more as your family grows. Come down to expectations and imagination.
There are lots I could say about this video, but please pay attention to zoning restrictions wherever you are located. Sometimes, to build that small, you will need to get a zoning variance. My county has different footprint restrictions for either city or out in the county builds. Another city in the county has a $22k impact fee that has to be paid upfront before any home can be built. And, their government is working on getting a 2 mile from center doughnut consession out of the County commission for that same impact fee. The county also has acreage restrictions that might apply to SFH that are not built in a platted subdivision. Again, variance zoning can make or break your dream home build.
1000 sq ft is not that small. Those size restrictions and impact fees are typically inside of cities and neighborhoods. Cities will always charge significantly more to get permits before you break ground. You’re applying your experience with a city’s fees and restrictions to all ‘zoning’. Which is 3006 counties in the US. That’s why I made it very clear in the video to go outside of cities.
@KaiAndrew minimum footprint in the biggest city in my county is 900 sqft. In the county, outside the city, the minimum is 1200 sqft, and without being in a subdivision, you need to have at least a 10 acre lot to build a home without needing a variance. To the south of the main city in the county, there is a construction explosion as everyone seemingly desires to live there as the space in the next city is rapidly running out. That southern city has implemented a 10-year growth plan that is actively trying to slow the growth and keep its character as a lazy, upper middle class to
rich community. Hence, there is now a fee to building the city. The place also can not be the only place in the country that has a doughnut of fees surrounding the actual city limits and out into the county. This means that without talking to the right people, one might still get hosed with unexpected fees. Land in the county is also seeing a rapid rise in price since last year it was about $10k per acre, and now it has a range from low in the north of about 10k/acre, middle ~$15/acre, south ~30k-65k/acre which is just for agricultural land. Industrial or business zoning is much higher depending on what and where located.
600sqft and 300k?! I know that's still a nice price today but Jesus Christ. There's nothing affordable anymore.
Comparably, $300k is a GIANT home in the south lol. On the west coast, a shoebox. I don't understand why anyone wants to live on the West Coast.
Am I the only one noticing the voice isn’t syncing with speaker?
Hi! Can you share when in the video you noticed this?
@@KaiAndrew hi! It’s the entire thing.
Most rich people stay rich by spending like the poor and investing without stopping then most poor stay poor by spending like the rich yet Not investing like the rich but impressing them
People prefer to spend money on liabilities,rather than investing in assets and be very profitable.
@@lucyben9173 You are so correct! Save , invest and spend for necessities and a few small luxuries relatives to on’s total assets ratio.
@@Cm-xo9jf Even with the economic recession or downturn,I’m so happy I’ve been earning $60,000 returns from my $12,000 investment with multifx
@@lucyben9173 Sounds good 😊how do you do that ? I’m interested,how do I go about getting started?
@@bosssss2920 Actually I trade cryptocurrency with multifx, I have been trading with them for 8 months now... I've really made a lot from their strategies in trading of cryptocurrencies.,
Part 3 - how the heck I’m going to get 300k 😂
Simply with leverage, 30-year fixed, FHA loan, conventional financing or a one-time close construction loan. How do you think people buy and build homes in a western culture? Practically all the people who live around you who aren't renting do the same thing. It's called a 'mortgage loan' - look into it.
We need the extra space we live in a 2,280 square foot 4 bedroom home with 9 people there is not enough space at all. There is also atkeast 1 person in a room people kinda claim rooms but there ain't enough rooms for everyone cuz everyone is never alone there always somone around so we all wish we had a bug house with enough rooms for everyone to have they own room also large communal areas an tons of storage. What makes no sense to me is that there is always people like my fiance grandparents who home is 11,000 square feet with lots of bedrooms yet only 2 people live there. That is the size home we need but will never have an they are only 2 people an don't need that size house they cpuld live in our house fine but it's just funny/sad how it's always that way
I hate it when people say Elon lives in a box. Come on, guys! How can you believe this?
I call BS.
Shit 300k for a Cabin in the woods where you need a car for absolutely everything? Real Estate market in the US really is broken.
Some people prefer the woods and not having to drive into the city….
just 300,000 ha.. insane.. housing is radically overpriced
"Just $300000..." On what planet is $30000 "just"?
When it’s a dream home in the United States…
It’s funny that you think 300000 isn’t a lot.
Because it’s not if you’re in a Western country…
@@KaiAndrew Assuming little or no outstanding debt, 20% down, and a 70k (ish) income, then 300k is doable. It's at the very high end of 30% of a person's yearly income, but with two high incomes that number looks a lot better. I think the problem for most people is "existing debt", single income sources, or living in areas where incomes are low.
Nice info, but not realistic. After Covid, no one wants to live in small spaces. Especially if you have 3+ people. Container home? No thanks. You can get custom design plans for $5k. 20k seems ridiculous.
"Just" $300,000...
Real estate is F'ed.
Not really. $300k mortgage is as low as $15k down or about $1900 mortgage payment each month. Or about $22k/year. You get to deduct the interest payments and if you house hack you can even completely subsidize your entire mortgage. Surprisingly, extremely affordable. So yes - $300k is extremely inexpensive in the United States in 2023. You're in a world of hurt if you think things will change. It's easier to change the way you approach the world...
😮u lost me at ' just 300k '
just $300k?
yup.
what's your thoughts ? Airbnb owners are about to SELL (Massive Housing Crash Coming)
Love it. Amateurs who tried to do a cash grab and got caught.
$300k is a lot lol
How much do you think it costs to buy a home these days?
If you have 300k building your own home is easy...
You don’t need 300k to build a 300k home.
'For 300k'. Is that the attempted appeal of this video? To just be in the top like 5% of earners, and just be scammy/overpriced? It's like 'yes' you could also probably make those cabinets and furniture, or just acquire one and redo it, rather than spend thousands on a piece of wooden furniture. Scammers love people like this lol, imagine paying 300k. This looks like it 'could be done' for like, 50k.
Lol. Wut? You think I’m saying to spend $300k on cabinets? You should at least watch the intro before making an uninformed comment.
Ridiculous…if it costs more than 100k to build a house, you deserve to get ripped off
Lol…wut? Just out of curiosity: let’s say you owned a nice house for $100k and I wanted to rent it from you. Market rate is $500/night, would you rent it to me for $50/night?
@@KaiAndrew yes I would because I’m not a deusche bag…. Real estate is the reason the entire country is falling. Homes are to be built to be lived in so that everyone may have a home on this earth…. Not a way for lazy people to charge other people to live so that they may make money without working.
No response? Lol
@@Thesecondcomingpodcastan odd take…
So, are hotels/motels/hostels/bed and breakfasts/cruise ships, resorts, campgrounds, etc. all drains on civilization? People travel, and they need places to stay when traveling. We have stayed almost exclusively in AirBnBs over the last 10 years, when traveling. The experience is superior to hotels, and I’d much rather give my money to a small business owner, than to a large hotel chain. Full kitchens help us save money on eating out, and the privacy and quiet is much better than a hotel.
Real estate has long been one of the best (if not THE best) investments. AirBnB owners are not lazy, either. There is a tremendous amount of responsibility inherent in running any business, as well as hard work (and risk) involved.
Your comment sounds jaded, and misinformed.
@@Thesecondcomingpodcastdon't worry once the airbnb thing saturates a market or made illegal they will be forced to rent or sell these properties for full-time habituation. This is happening all over.
So, you promised a free spreadsheet, but after getting my name, phone number and email address, you guys emailed me a spreadsheet that can’t be edited. And in order to get access to the actual spreadsheet that you promised, and now I have to pay money. Not a good way to start a relationship. Just lost my trust and that’s more valuable than money.
That’s because this entire series is just bait so you buy his consulting course. There are so many factors he leaves out in these videos.
I don't even have $3K. We need basic income. Our politicians are practically useless.
Agreed!
Work harder.
You think the tax payer should provide you with a minimum salary just for being alive? Get a job and work hard. It’s what I did and I am a millionaire now.
@@crosisofborg5524 No offense, but I never said nor implied that the tax payer should provide me a minimum salary. If it were up to me (like if I had the necessary political power), I'd get rid of the outdated practice of taxation, and rely on a better way of funding things.
That being established, I've had jobs almost my entire adult life for the past two decades. I keep moving up to higher paying jobs, but the cost of rent and housing keeps going up too... Oh and then there's all the car repairs, income taxes and other bills, food, gas...
But hey, that's cool you get to be a millionaire! Something like that basically seems like a pipe dream to me at this point, but congratulations!
Cool username by the way. I ♥TNG! The borg were such an awesome addition to the show👍
No you're lazy
I'll save you all time
Just have money
Negative, ghost rider.