By Andrea Blanco For Dailymail.Com
Published: 19:27 BST, 17 July 2022 | Updated: 19:34 BST, 17 July 2022
A young Georgian couple has gone debt-free by giving up their spacious home to pay off their bills and flipping a Home Depot shed they later sold for $312,000.
In March 2020, Nick and Meghan Lucido left behind their costly lifestyle in Cummings and decided to sell their 2,000-sq-ft house and move into a camper van.
The couple paid off part of their debts with the money received from the house and car sales and also purchased an eight-acre plot of land for $40,000.
'We never missed a mortgage payment,' Nick told The New York Post. 'We were both just really young ... professionals. And we had two brand new cars, brand new house, and we were just over our head in debt.'
Instead of building a regular home, the Lucidos were suddenly inspired by a shed they saw at Home Depot and got creative.
They lived in the van and managed to pay $82,000 while they worked to flip the shed and make it ready to use. After living in the mobile home for a year with their toddler, the family sold the shed in December for $312,000.
They have since bought the home of their dreams, the couple said, and were able to do so without getting in financial trouble.
'The ability to pay off everything, move into a camper, and literally be debt-free was most the freeing experience that I think anyone can ever experience,' Nick told the Post.
In March 2020, Nick and Meghan Lucido left behind their costly lifestyle in Cummings and decided to sell their 2,000-sq-ft house and move into a camper van
Instead of building a regular home, the Lucidos were suddenly inspired by a shed they saw at Home Depot and got creative
They have since bought the home of their dreams, the couple said, and were able to do so without getting in financial trouble
They lived in the van and managed to pay $82,000 while they worked to flip the shed and make it ready to use
The Lucidos were not only able to pay their bills but also purchased a fully-custom-built two-story home with an open porch they call 'the farmhouse.'
'We moved in February this year. House is all done. And we got the dream home,' Nick told the Post.
He said he did not expect the home to be sold for so much money and that his family was lucky that COVID has affected the housing market in Georgia.
'And that is when we had a guy come by and offer us money more than we could ever imagine.'
In an Instagram post, Nick revealed how he and his wife became trapped in debt as young adults.
He said they made a pattern of mistakes such as buying a home they could barely afford and upgrading their cars that eventually led them to a difficult financial situation.
'I got a bonus and Meghan started making more money and I wanted the brand new car. We were in debt, so what? Everyone is,' he explained.
Nick Lucido said he and his wife made a pattern of mistakes such as buying a home they could barely afford and upgrading their cars that eventually led them to a difficult financial situation.
The Lucidos were not only able to pay their bills but also purchased a fully-custom-built two-story home with an open porch they call 'the farmhouse'
They saved on labor by building the home themselves
The tiny cabin's only bedroom after it was flipped
The Lucidos shared their journey on social media
And showed followers their progress as they flipped the home
Many were surprised by how handy the family was
When the couple's student loan debts, car and mortgages payments mounted up, they were left 'just scraping by.'
They planned for their pregnancy and medical bills but did not expect their air conditioner to stop working once they brought their son home.
'No money, no savings, more money going out more than coming in, new baby with no AC, in August. I had to go to my most amazing parents and ask for money,' Nick shared.
The new parents began downsizing and cutting expenses and eight months after being introduced to a financially responsible lifestyle, they decided to sell all they owned and buy a camper to live in full-time.
The Lucidos paid off over $90,000 in debt while they lived in the camper.
While they flipped the home, the Lucidos lived in a camper van with their toddler
They said giving up their costly life was the smartest decision
Nick said he pulled permits as the homeowner doing the work himself, which saved GC costs and labor, in order to pass residential codes.
The shed, which has 860-sq-ft, has one-bedroom, a full kitchen, a full living room, and a porch.
The Lucidos moved into their new home in February after they were able to afford it with profits made from their shed sale in December.
The couple shared their journey flipping the shed and to their dream house on Instagram and TikTok, and built a community of people inspired by their decision to go debt-free.
On TikTok, Nick thanked them when he completed construction of the home.
'A lot has changed. Good thing for a crazy market and people's love for tiny homes!'
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