Back in 1974 my husband and I built our first house in Barrington NH.
We were able to qualify for a program called Farmers Home Administration now known as Rural Housing. We were approved for an un-subsidized loan for $25,000 at 8.5%. With that money we were able to build a 24x36' full dormer-ed Cape on 1 acre.
The house required a lot of "Sweat Equity" We cleared our own land!
And stained the siding by hand! The house had an unfinished second floor which we studded, sheet rocked and finished ourselves!
We sold a mere two years later for $35,000-a whopping $10,000 profit!
My husband had a yen for "land" so we headed North to Danbury, NH and purchased an old Farmhouse (known as "The Big House") with a Barn on 2 acres. The property also included an additional 10 acre woodlot with road frontage...just in front of the Danbury school! The price...$21,500.
After only 6 months my husband spotted a small house in "Downtown" that was For Sale for $1000...but had to be moved!
My husband proposed the deal to what was then"Indian Head Bank" (in Concord, NH) and they gave us a loan for $13,000 to include moving the house (to our 10 acres),putting in a custom foundation,a well, a septic system,paying for Utility work and having the house (To be known as "The Little House") put on its foundation!
The payments for "The Little House" were $108/monthly
The school kids were let out (chairs and all) to watch!
Twelve years later we sold the "Little House" for $35,000.
In 1984 we moved to Concord, NH and bought our present home for $65,000. Our rate was 11.4%.
We rented the "Big House" with an option to purchase....and sold in a few years for $50,000.
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THE BIG HOUSE
Purchased 1976 for $21,500
Sold in 1989 for $50,000
Sold again in 2005 for $258,00
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I FIND THIS ALL.......AMAZING!!!
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