Accounting Error, Reduced Price

I based the $15,000 asking price on the tiny house was based on a summation of all the expenses I’d incurred since I began building the tiny house almost a year ago. Those expenses came out to $8500.

What I hadn’t considered was that included a number of tools I purchased, mistakes I made and supplies I didn’t end up using at all. Earlier this week, I went through all my receipts to create a supply list for the plans I’m compiling.

Turns out that including all the 10% discount cards I used at Lowe’s, I only spent $6000 on supplies that I actually used. That makes a big difference.

Another consideration is that the highest big I got on eBay was $4700. Granted, that was about two weeks ago which could be one of the worst weeks of the year to try and sell anything – people have generally already allocated the month’s budget and are still recovering from the holidays.

The other thing is that I’d set a reserve of $9999 on it. I know fewer people would bid on it even though there were 23 bidders. I’m figuring even more people will bid on it if there’s no reserve because you know you’ll actually get it.

So here’s the plan now. I’m reducing the asking price to $10,000. If it still hasn’t sold by the end of February, I’m going to put it on eBay again WITHOUT a reserve.

As an aside, I’ve applied to a few architecture grad schools for the fall. If anyone knows someone on the UT faculty, I’d appreciate if you could put in a good word for me. They’re one of the top 5 architecture schools in the country and have a great sustainable design program that I’d like to do. They’ll be reviewing applications in February.

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20 Responses to Accounting Error, Reduced Price

  1. renee bakerNo Gravatar says:

    I am interested. Where is the house and how does the procurement process work?

  2. LouisNo Gravatar says:

    Renee, I’ve sent you an email.

  3. BradNo Gravatar says:

    Hi Louis,

    I am very interested and have an immediate application and need for it. Please send me any info I may need, as well as your contact info. I am assuming it is still available.

    –Brad

  4. LouisNo Gravatar says:

    Brad, someone just claimed it. The sale is pending though so I can let you know if it ends up being available again.

  5. BradNo Gravatar says:

    Louis,

    Thank you for the quick response. I hope you are able to sell it, but if that sale falls through, please let me know. I have been looking for a small trailer/RV to house a guy I inherited from an investment property we are rehabbing. He has turned out to be really helpful ,keeping an eye on things, etc., and I’d like to offer him a nicer environment to live in more permanently, on the property. I have been allowing him to stay in a unit during the construction, but that is not the optimal living situation, so a tiny house, like yours, would be perfect.

    I am impressed with the thought and quality you put into it. I live in CA but have property in Austin, so I could come out there or otherwise make proper arrangements, if necessary.

    Either way, good luck.in your future endeavours.

  6. etNo Gravatar says:

    “more people will bid on it if there’s no reserve because you know you’ll actually get it” –
    but that’s not how ebay works. You never know you’ll actually get anything – there can always be a higher bidder.

    Good to hear your house is sold and good luck with grad school!

  7. LouisNo Gravatar says:

    Thanks, et.

    What I meant is that with a reserve, you could be the highest bidder and still not get the item.

  8. LouisNo Gravatar says:

    Brad, the other buyer fell through. I’m sending you an email.

  9. Erin SmeadNo Gravatar says:

    Is the house still for sale, or did you find a buyer?

  10. LouisNo Gravatar says:

    Erin, the house is still for sale. It’s going on eBay Sunday if no one has claimed it.

  11. steven Du BoisNo Gravatar says:

    Louis,

    Really impressive work! Until the economy changed I began dabbling in carpentry and became facinated with the concept of tiny homes before I knew they were indeed a category. Would you send me a message. I would be very interested in asking you a question that may not be for the public…

    Steve

  12. Sara DanielsNo Gravatar says:

    Did anyone ever buy your little house?

  13. LouisNo Gravatar says:

    Sara, yes they did. I posted on it here:

    http://www.austintinyhouse.com/tiny-house-is-sold/

  14. Pingback: Austin Tiny House - Sale

  15. Joe CantuNo Gravatar says:

    Do you have or build more tiny houses? I live in town and would love to come see one.

  16. LouisNo Gravatar says:

    Joe, I don’t anymore. Kanga Room Systems is there and has demos you could see.

  17. quiet interested, my friend aother widow is moving to auction, can she view it for me and is it on rented property or your own? thanks,sparrow

  18. please advise asap iif home is available, im truly ready to look and move.

  19. sparrow mcleodNo Gravatar says:

    please advise regarding wee house. Price, and is it on rented pro0perty or your own personal? if on rented please advise of rent…totally interested as jane is moving to Austin and we widows might as well be closer in miles. thanks, sparrow

    803-640-2623

  20. sparrow mcleodNo Gravatar says:

    please advise me regarding Austin tiny house

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