[Logs and Dogs]

I’m not saying your construction figures are incorrect, as they may apply to the more populated areas of VT, but we just got done building our cabin/house ourselves and those costs are way high compared to what we spent in 2009-2009. Our entire project cost not much more than your land estimate of $150K. We have a log cabin on just over 2 acres, 1140 square ft + a 768sq ft walk out basement, septic, town water and I had to run electric down our 800’ road.

Granted we saved about $50K or so by doing most of the work after “dry in” ourselves.

On a side note, I crunched the numbers on affordable housing and even went as far as to begin exploring some opportunities and the issue we ran into, before we even got to any local codes etc. was the fact that the most cost effective, energy efficient designs we used required a rent roll of about $650-850/mo for each 2 bed apartment to be financially beneficial to me. The area economy wouldn’t support rent that high, especially not in sufficient quantities of renters we would require to get to a decent level of occupancy.

So I think I’m making the same point as others, building in rural areas can be done much cheaper than Chitty County etc. however, even at our reduced costs, the local job market makes it tough for most to afford. As for “affordable houses”, I was reading the results of a proposed development either in the NEK or near it with decent detached homes proposed with prices at $135K-150K per home, and people freaked the eff out about that not being “affordable” by their standards, so the project was blown up.

The thing is, based on the costs of materials and even cheap labor, that home price doesn't make much $ for the builder and if a couple things go wrong, they would be screwed.

[j_jimerino]

I think I'm agreeing with you! I haven't researched it, but I'm pretty sure land outside of chittenden county is cheaper. But then you either have to spend more on cars/gas or probably take an income hit since the job situation is tighter. I'm not even sure what the construction costs themselves are. I was just saying that the land plots all sell for 100-150K and you haven't even started yet. I've heard the 50-60K for mound septic a few times, once the state gets done with its checks and permitting on it plus construction costs. So I understand why houses cost so much.

I found it kind of shocking though that houses up in the NEK seem to not be a lot less expensive than the ones around here when I looked through the for sale papers up there. 135K-150K seems pretty reasonable. Around here its hard to even find a condo for that.

[Logs and Dogs]

Originally Posted by j_jimerino

I think I'm agreeing with you! I haven't researched it, but I'm pretty sure land outside of chittenden county is cheaper. But then you either have to spend more on cars/gas or probably take an income hit since the job situation is tighter. I'm not even sure what the construction costs themselves are. I was just saying that the land plots all sell for 100-150K and you haven't even started yet. I've heard the 50-60K for mound septic a few times, once the state gets done with its checks and permitting on it plus construction costs. So I understand why houses cost so much.

I found it kind of shocking though that houses up in the NEK seem to not be a lot less expensive than the ones around here when I looked through the for sale papers up there. 135K-150K seems pretty reasonable. Around here its hard to even find a condo for that.

We do agree.

I’m a little surprised about the state and local permitting etc. you are referring to as I had none, and I mean none. The lot had an approved septic plan already engineered prior to us buying it and all we needed to abide by was setbacks on the property lines. Our final inspection for occupancy was for them to flush the toilet and run water………..then we BS’d about hunting for 45mins.

I’ll take the NEK any day.

We had to pick up a horse trailer over on “the other side” a few weeks back, I nearly puked when I saw the Burlington area of 89 and Rt 7 (not Burlington by the lake which I’m sure is nice). It was CT, no if ands or buts. I couldn’t wait to grab the trailer and head back to the NEK.

[arctichomesteader]

The inspections and red tape will tend to be worse in the more crowded places like Chittenden County. Given that a lot of people in the rural parts of the state flat out ignore half the building and septic laws, and lots of people might be a bit dangerous to harass over it, the inspectors can be a bit less picky than where the stuff is tightly enforced, and some may not even care a lot about the rules themselves, they just got a nice paying job for the area...

[Logs and Dogs]

Originally Posted by arctichomesteader

The inspections and red tape will tend to be worse in the more crowded places like Chittenden County. Given that a lot of people in the rural parts of the state flat out ignore half the building and septic laws, and lots of people might be a bit dangerous to harass over it, the inspectors can be a bit less picky than where the stuff is tightly enforced, and some may not even care a lot about the rules themselves, they just got a nice paying job for the area...

Agreed.

Like I mentioned before, Chitty County is great to visit, when you're done you can go back to Vermont.

[VTgoneaway]

I don't agree with the premise of this report. Housing isn't too expensive in VT, wages are too low. That is the problem. VT houses are cheap for anyone that has worked in civilization for a bit. Staying above water after moving to VT might be difficult as is earning enough in VT to buy, all compensation issues not housing costs.

[one09jason]

Originally Posted by Logs and Dogs

We do agree.
I’ll take the NEK any day.
We had to pick up a horse trailer over on “the other side” a few weeks back, I nearly puked when I saw the Burlington area of 89 and Rt 7 (not Burlington by the lake which I’m sure is nice). It was CT, no if ands or buts. I couldn’t wait to grab the trailer and head back to the NEK.

Do yourself a favor. Don't ever visit Los Angeles. You might not survive it looking at it.

[Logs and Dogs]

Originally Posted by one09jason

Do yourself a favor. Don't ever visit Los Angeles. You might not survive it looking at it.

I have less than zero urge to visit CA.............and I'm sure it would make me hurl....

FL is about the same, we have family down there, but it isn't for me....

[68vette]

Originally Posted by VTgoneaway

I don't agree with the premise of this report. Housing isn't too expensive in VT, wages are too low. That is the problem. VT houses are cheap for anyone that has worked in civilization for a bit. Staying above water after moving to VT might be difficult as is earning enough in VT to buy, all compensation issues not housing costs.

I believe what you are looking at is just the price of a home as you see it right now. In all honesty it does not look bad, but you need to look at the whole picture. What I mean is look at home prices from a decade ago with the income of a decade ago. Big difference from now. This article does a decent job of explaining it. Vermont's high cost of housing highlighted in new housing affordability report | Vermont Business Magazine Housing prices have increased almost 55% in this time period while income has not. I don't think there is anywhere in the county where income has increased over 50% in this time period. At the current pace income will never keep up with the climbing housing prices. A sad example is one of my former coworkers moved to Ashville, NC almost two years ago. They owned a trailer in Richmond, Vt. and sold it for more money than what a fairly new 3 bedroom home was priced at in NC.

[miruca]

So 68vette - where do you think Burlington housing prices will go? I have looked at the increase just since 2002 - it is stunning. Although the market is now slowing a bit in Burlington - I don't see how there can be a return on investment if one buys now even if houses are selling at 10-20% less than the peak.