Good Morning! A Tuesday update after I hosted the Carnival of Personal Finance yesterday, I hope everyone had a nice weekend.
What a better way to start Easter week, the busiest week of our year so far, with several visits planned and the final push on the works, than with a broken fridge? Can’t complain here since the old fridge was at least 10 years old, and graciously left by the previous owner who couldn’t be bothered to come pick up his stuff when he sold the house. We knew we would need another fridge eventually, not just that soon, and right after buying a second car and a boat. I digress. I was presented with the option to buy another old fridge for $120, have a repair man fix our fridge for $80, or buy a new fridge. Eventually the reasonable part of me went with a new, $750 fridge that will make my life easier and have BF stop calling me cheap for at least 48 hours.
He wanted the fridge that had an ice dispenser, the cheaper ones went for $1250 (after a few frustrating visits at shops asking for ice dispensers and being presented with water dispensers, why would you show me something I don’t want?) and I couldn’t justify $500 to stop making ice yourself. I can empty an ice tray for $500. Still, I bought a pretty cool fridge with little ice trays you can manually pour into an ice bucket, making life easier for my lazier than me boyfriend.
I bought it at the supermarket, that happens to have been recently bought by Walmart, and the manager assured me they would deliver my fridge with a minivan they have that drops you off if you purchase more than $40 worth of stuff. She hugely underestimated the size of the fridge and the seats wouldn’t recline so the fridge came to the house half hanging from the minivan’s sliding door, miraculously in one piece and fully functioning by the time our guests got here.
The rest of the Easter week was spent with our friends, swimming in the lake and sailing our new boat. Holy Thursday and Friday were bank holidays, no workers around, a welcome change of pace. The next week they were back to do a boat makeover. The boat is an old aluminum carcass that they pimped out with wooden seats, coffers, and floors. Those guys have their flaws but they can really do anything. One day they lay concrete, the next they fix a boat. Nothing goes to waste, everything gets a second, third and hundredth life, and gets fixed over and over again. That is pretty amazing.
The wood came from our neighbor who had no use for it.
After Easter it was time to go back to work, and the architect had finally given us the level maps of the 90 acres land, so we are starting by developing the back of it, into cheap, small plots.
As you can see, the Northern part is already accessible by the town’s street network to the East. The good news it that they are fixing up the streets.
This is the street leading to our development, I am standing at the corner of the development.
They are also bringing electricity, yay!
And, biggest surprise of all, asphalting the main road that comes from the village 3 blocks away. Residents will only have to drive 3 blocks on the dirt road. It also adds value to our plots which is awesome.
As I mentioned on Friday Recap last week, we burned down the weed and grass of the land, after finding no one to put cattle there for a while, so it looks a little bare, and three guys with machetes are there full time to weed some more and draw the plots.
This is the future main street of the popular part at the back. Don’t worry, the rainy season is in a couple of months and it will grow back even stronger. Here is a part we burned in January
Why would people trust us? Because we have turned this in week 6
into this, in four short months.
for a grand total of $12,000 including furniture and roof terrace/kitchen.
And a bathroom that will make an interior designer jealous.
Also, we are not borrowing a penny for this development so we are not going anywhere! Bankrupt developments are frequent around here.
To make the plots attractive for locals, we are donating a football (soccer) field to the village, that is the green patch below. The trees you see at the back are the rests of an old Mayan ruin that we also have to preserve and will serve as recreation area.
10 plots will be built around the football field, and in total we are launching around 60 plots.
Plot pricing and sale
We have decided to make this cheap development at the back of the property mainly to free up some cash fast to work on the higher end development at the front. Plots are priced at $2,000 for a 900 sqm size, or 0.22 acres.
Since our handyman was able to afford a $2,000 motorcycle with monthly payments we think this is reasonable and affordable for locals. A same sized plot in the village sells for $4,000 and up to $8,000 for the best locations.
We offer interest free finance over a year, which is roughly the rate our handyman is paying is motorcycle at.
The higher end development is looking greener since we burned earlier, this is what you see from the main road that goes around the lake
That’s it for now, what is new with you?