How did you pay for your shop?

Status
Not open for further replies.

MikeH

New User
Mike
I asked the question a while back about paying for (or financing) your tools. Now I am curious as to how everyone has paid for their shops.

I look forward to your insight on this.

Thanks,
 

NCPete

New User
Pete Davio
nice big fat profitable cabinet jobs are what is going to pay for mine and MG's shop, if our building prospects don't keep turning into churches :)
 

jaustin

john
Corporate Member
credit cards and Christmas got me a basic shop.
than after that i started building pistol racks, they bought me a new table saw, bandsaw, miter saw. which replaced my older stuff. HVLP sprayer

wood pens so far have bought me a 8" bench grinder and a few other small things.
 

DavidF

New User
David
I work 10 hrs a day running customer support for pick and place machines:lol: :lol: Carol has bought most of my smaller tools.
 

walnutjerry

Jerry
Senior User
I worked all the overtime I could get, did most of the work myself, worked on the shop on weekends that I did not work on my job. Took me about 2 years to get it dried in. Payed as I went. For the last 15 years the shop income has payed all expenses for doing craft shows, updating equipment, vehicles for doing shows AND a nice dinner out once in a while:icon_thum .

Jerry
 

cpowell

New User
Chuck
Mike, I negotiated with the contractor when I bought my house (it was newly constructed) to add a detached shop. The interest rate is favorable to Visa/MC! :lol: :lol:

You will likely never recoup full equity from a shop but in Eastern NC they are quite popular. Mine is built to match the style of the house. The other shops in my neighborhood have a fully equipped kitchen off the shop area and upstairs storage above. They are mainly used to entertain - cookouts and such. Mine is too small for a kitchen. :)

I have a few friends who live in rural areas where there are no restrictions on appearance. They have constructed 1500 sq ft shops at a price/sq ft that is much lower than it cost me. I have relocated many times in my career so I try to compromise between functionality and resale value.

Chuck
 

Terry

New User
Terrence P. Rielly
Mike,
The workshop I have has taken me 29 years of work and savings, but made a promise to myself that I would not go in debt or charge anything. This shop has been my retirement dream and I have kept that promise not to go over board to enjoy my dream. My shop is paid for complete, and I have a 20' x 20' Handihouse, insulated and sheetrocked inside with a hardwood floor, Full lighting, Heat and A/C. All new big power tools and hope to get more as I go. Nothing will be put in my shop that I owe on. My shop is not all the way complete yet but very close. But everything I have I am very thankful for and blessed to have. This is not to take from anyone who is working on there dream as I wish all them there dream also. but this is how I did mine and respect those who have bigger shops and finer tools than mine. This site has some of the BEST woodworkers and friends anyone could ask for so I hope you can take a piece of each response and add it to your shop. Good Luck! Terry
 

SteveColes

Steve
Corporate Member
Well, the shop itself is just the 2 car garage that came with the house.

The tools were mostly paid for by my winnings over a 6 month period playing no-limit Hold'em on line. (I think this is first time, I ever admitted this to anyone.:oops: )
 

Travis Porter

Travis
Corporate Member
Paid for half with cash the other half with a home equity loan. LOML has yet to let me off the hook for any of the cost. She claims she paid for it with money she saved from her job. Somewhat true, unfortunately, I paid for all the other household expenses.
 

sapwood

New User
Roger
LOML shared the building cost. But I paid for turning it into a shop and the tools. But she has been generous purchasing tools for B-day and X-mas :icon_thum

Roger
 

Eaglesc

New User
Eagle
I don't know if you are referring to tools or the building itself.
I built a 1&1/2 story 12x16 "shed" to put the riding lawn mower and garden stuff in.Total cost was $1500.00 did everything myself along with help from my wife, paid cash as I went.
Once the table saw came out of the dining room and into the"Shed" the "Shed" became the shop.
I put an 8x 16 addition on the"shed" to house the lawn mower and garden stuff along with lumber.
I cant move from one end of the addition to the other, and the lawn mower sits outside along with the lumber that doesn't fit in either building.
Space and stuff.
 
T

toolferone

Home equity loan covered most of it. I have been nickel and dime the rest of time (still not finished).

Steve, that's pretty cool.
 

Travis Porter

Travis
Corporate Member
I don't know if you are referring to tools or the building itself.
IOnce the table saw came out of the dining room and into the"Shed" the "Shed" became the shop.

I would not be alive if I tried to put the table saw in the dining room. I used to be able to get away with finishing once in a while in the house, but those days are long gone.
 

Mark Anderson

New User
Mark
my wife wanted me to build a house in the back yard for her mother....not my fault it ended up having an 8' crawl space. :icon_thum
 

MikeH

New User
Mike
The tools were mostly paid for by my winnings over a 6 month period playing no-limit Hold'em on line. (I think this is first time, I ever admitted this to anyone.:oops: )

Steve we need you to start picking lottery numbers for us. :eusa_clap
 
Last edited:

Bernhard

Bernhard
User
First off, I am on of those people deprived of financial savy.
So one day I just bought some land and started clearing and then building a shop, once the shop was half finished, I started on the house...and still working on it.
I actually have no idea what I spent so far. Pbrobably better that way, since it would be a very depressing figure. I just keep going until I run out of money, then take it slowly for a while and then start over.
Not the wisest and not quickest way, but it was and still is fun!

Bernhard
 
Status
Not open for further replies.

Premier Sponsor

Our Sponsors

LATEST FOR SALE LISTINGS

Top