A well-designed home for under $50,000? From Lowe's

Discussion in 'Current Events' started by Heath, Nov 11, 2006.

  1. Heath

    Heath Active Member

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    A well-designed home for under $50,000? This tiny house designed for the battered Gulf Coast will be sold by Lowe's, and is expected to draw buyers from all over.
    The "Lowe's Katrina Cottage" offerings range from a two-bedroom, 544-square-foot model to a three-bedroom, 936-square-foot house. The cottages will cost $45 to $55 per square foot to build, Lowe's estimates, meaning the smallest would run about $27,200 and the largest $46,800. Estimates do not include the cost of the foundation, heating and cooling, and labor.
    "We're starting on the Gulf Coast, where the original idea came from, but as soon as we feel the logistics are worked out we could go national," says Cusato, whose Web site has received more than 7,000 inquiries since January. "We want to be sure that when we say it's available, we're 100% sure we can deliver."
    Stylish cottage for Katrina country is a big hit - Buying a House - MSN Real Estate
     
  2. shel90

    shel90 Audist are not welcome Premium Member

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    $50,000 and under is a whole hell lot better than the $400K houses here in MD that are just a little bigger than this one! GEEZ!
     
  3. Star

    Star Guest

    No thank you. I perfer live in 1500 to 1600 sq feet. it is too small for me. I would not want to live there by gulf coast. No thank you. I perfer live in west coast or north coast.
     
  4. sequoias

    sequoias Active Member Premium Member

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    Pretty cheap there. I'd rather stick with a bigger house with a a nice property, that's just me.

    Remember the costs don't include foundation, labor, hookups, etc which can run around $20,000 or more depending on the area and size.
     
  5. Heath

    Heath Active Member

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    If you have different contractors bidding for work ( and they must be licensed contractors ) you could get a contractor to do all of this for just about $5,000.
     
  6. Heath

    Heath Active Member

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    Also, here is what the article says .....

    Cusato's design also calls for steel frames and James Hardy's fiber-cement-board siding. It's rated to withstand a hurricane with 140-mile-per-hour winds. The siding makes it termite-resistant, noncombustible and immune to rot. One intangible aspect of the house: It is designed to be easy to add on to.

    But the concept didn't really take off until January, when the cottage made its debut -- almost by happenstance -- at the International Builders Show in Orlando, Fla. Susanka was set to build a small, modular show house for the event, but her sponsor pulled out. Duany suggested that Cusato's cottage go in its place -- and it was an instant hit with developers, who clamored for the plans.

    A new niche
    Flying in the face of a "big house" trend, designers of these tiny abodes seem to have found a new housing niche. Some experts cite an interest by some Americans in downsizing their habitats, a reaction to the supersized home, and note the challenge of heating and cooling a big house at a time when family budgets are flat. Others note that changing demographics -- more empty nesters and single adults -- may mean a timely debut of the Lilliputian homes.

    "It's resonating with people because it's a market that did not exist," says Marianne Cusato, a New York-based designer who drew up the plans for the Katrina cottage. "In the past, you had to go either to an apartment or a trailer."

    Californians want to build one in their backyards to use for rental income to help with the mortgage payment. Modestly paid kayakers in Colorado see it as a way to finally afford a house. Elsewhere, people envision building one so a parent can live nearby.

    One of those other companies won't be Home Depot, the Atlanta-based supplier of building materials. "We assessed the opportunity but chose to pass on selling them," says spokesman Tony Wilbert.

    Although Lowe's has not started marketing the houses nationwide yet, the original Katrina cottage has been featured on television and in newspaper articles. As a result, Cusato gets queries every day from around the world. Some of the e-mails and letters envision the cottages as college dormitories, military housing, homeless shelters, zookeeper's offices and rental properties.( This also could be the perfect house plan to have for renting to college students, single moms and men who work away from their families. A very good investment in rental properties. )
     
  7. Dino65

    Dino65 New Member

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    Oh I don't mind living in that house .. nice, cozy and ... privacy! I hate living in my apartment here!
     
  8. webexplorer

    webexplorer New Member

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    It is a kind of small house. If I were this situation, I would get that house, and someday I will put an additional building to attach to the house so that it would look bigger. It depends on how much would it cost me to build the additional house because the prices, for the supplies, are always up and even the food goes up, too. If we get a raise from work, then everything the prices will follow up - not much making a profit.
     
  9. Dennis

    Dennis New Member

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    No, Heath, no contractor would bid that low for your business. Even they have to eat and put a roof over their heads.

    These homes are not gonna maintain resale value. Mark my words, after they're installed and set up, they won't gain in value like a real house would. They're tiny, so families won't want them. The only saving grace is that it's "easy to add onto" so that homes could be made larger with less effort.

    I can't imagine having one "in my backyard" at home. It's still a major construction effort, it's not like plunking down an RV or a trailer home.
     
  10. Foxrac

    Foxrac Well-Known Member Premium Member

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    Don't forget to buy land too.
     
  11. Heath

    Heath Active Member

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    I have seen in the newspapers bidding notices who has won the bidding. Maybe this is true in the more rural areas but in a big city probably more expensive bidding process.

    Well, with resale value. That can be true but you have to think of another factors like in the wintertime, a small house is much easier to heat and keep warm than in a big house, not to mention with the Middle East oil crisis the savings coming from a small house would save alots with the cost of the heating bill.

    What is also nice about this is that you can rent a small house to another people and not have to pay a real whopper on the cost of the heating bill as well. That means you get to pocket and keep more of the rental money that another people will pay you being the landlord too. :) :thumb:
     
  12. neecy

    neecy New Member

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    I think its a great idea -there are a lot of people who would be happy to have a house like that. Its nice to see a new housing niche opening up!
     
  13. neecy

    neecy New Member

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    I think it would depend on where it is - I can see it being appealing to a lot of different people. Singles, older people who live alone, but want "their own" home, a cottage type getaway, etc. My grandfather lived in a cottage that was the same size for more than 40 years and loved it.
     
  14. Dennis

    Dennis New Member

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    These houses are only slightly cheaper than actual homes that end up being 1400-1600 sq feet.

    What I'd like to see is how "well designed" these houses are. Will they hold up for years? Is the cheaper cost due to efficiencies or cutting corners on quality of materials and build method? What I'd hate to have happen is that a number of years down the road, faults start showing up and people have to sue to get their problems fixed. For example, in my area, there's a settlement for the kind of stucco used.
     
  15. MilitaryGirl83

    MilitaryGirl83 New Member

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    This house is wayy too small.. I have too much stuff to bring into. I rather have around 1,000 or more ft sq. home! But that could be good for someone who is single with no kids! :giggle:
     

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