A number of individuals have been inspired to become debt-free by a couple who bought a shed from House Depot, renovated it, and then sold it for a profit before purchasing their dream home. It is a fantastic road to financial independence that manages debt in a responsible manner.
Back in 2019, Nick and Meghan Lucido spent around $27,000 on the purchase of the shed. They bought the property, did some remodeling to it, and then moved there for approximately a year before selling it to a buyer who paid them far more money than they had ever dreamed of receiving.
The couple makes frequent updates about their residence on various social media platforms, and TikTok users quickly became obsessed with their narrative. The process by which they converted a shed into a fully functional house and made a profit from doing so captivated the audience.
Nick and Meghan Lucido, together with their little kid, may be seen here posing in front of their camper van.
A number of years ago, Nick and Meghan were simply young professionals in Georgia who, in Nick’s words, were “keeping up with the Joneses.”
Their adventure started when they got themselves into some financial trouble that they hadn’t planned on having.
Following the birth of their child, the couple made the decision to practice responsible debt management and cut their expenses by selling their 2,000 square foot house and relocating into a camper van.
They were able to eliminate an outstanding debt of $82,000 thanks to the decision, proving that it was the right one. In addition to that, they were able to purchase a fresh piece of land in the Georgia highlands and get the construction of the house of their dreams underway.
On the other hand, Nick and Meghan soon became weary of living in the camper, so they made the decision to purchase a shed from Home Depot and then refurbish it.
They built their new home on the eight acres of land that they had acquired just for it.
When they first purchased it, it was nothing more than a shell, but the couple put in a lot of hard work to make it into a place where they could live comfortably.
Nick said that in order to turn the property into a house, he and his wife “purchased our code book, spoke with the local code enforcement, and did everything else that needed to be done.”
During the course of the home’s refurbishment, Nick served as the general contractor for the project. The pair learned to convert the shed into a two-story house with an area of 860 square feet by mostly watching tutorials on YouTube. It is equipped with one bedroom, a terrace, and plumbing that is in good order.
Nick said that while it was rather revolutionary and extreme, they wouldn’t have had it any other way.
The Lucidos spent close to sixty thousand dollars renovating the shed into a habitable home for their family.
“All that a house is for is to provide you with a place to rest your head at the end of the day so that you can get some rest and recharge your batteries,” We did not spend a significant amount of time inside. According to Nick, “when you have eight acres in the midst of the woods, you have some flexibility to do what you want.”
At first, the couple intended to make use of the shed as their primary residence while they constructed their new house on the same site.
On the other hand, when the pandemic struck and house values surged throughout the nation, they saw an opportunity to sell their property.
“A number of people advised us that we should rent it out on Airbnb,” you said. It was more or less like, “Let’s simply list it and see what happens,” as the attitude was at the time. And there were a lot of people that visited the page. As Meghan put it, “It was like, ‘Oh, maybe people do enjoy this.'”
During the epidemic, many people in the United States made the decision to relocate from the city to more suburban or rural locations.
“I think it was an ideal space and with the market the way it was at the time, people were escaping Atlanta and the metro area and people wanted a little privacy and seclusion and I think that property delivered a lot,” Nick said. “I think it was an ideal space and with the market the way it was at the time, people were escaping Atlanta and the metro area and people wanted a little privacy and seclusion.”
Nick and Meghan earned a profit of almost $225,000 when they sold the refurbished house in April 2021 for the price of $312,000. They utilized this money to construct their new home on a different piece of property.
They moved into an apartment even though it was still being constructed when they moved in.
Nick said that “there’s a lot to digest in this tale,” and he believes that “our experience” is not unique in the sense that there are a lot of individuals who are suffering.
People are weighed down by their obligations and the pressures of daily life. So, I believe that our debt story, how we were probably one of the very, very few people to sell pretty much everything we had – even the furniture, I mean, we sold everything – I believe that there is a little bit of encouragement there that there is light at the end of the journey.
The only thing that Nick and Meghan are sorry about is that they did not get it done sooner.
According to what Nick said to the New York Post about his experience, “the chance to pay off everything, move into a camper, and truly be debt-free was the most liberating experience that I believe anybody can ever have.” [Citation needed]