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‘This is the dream home’

Common Cents on the Prairie™

‘This is the dream home’

“I know we’re going to have to spend a lot of money, so I don’t want to compromise.”

Build, buy, or remodel? With all the chaos of the housing market in recent years, many homebuyers are feeling stuck.

Small business owners Dr. Ashley Pfaff-Shaver and Chuck Shaver recently joined our podcast, Common Cents on the Prairie™, for a conversation with host Adam Cox about their homeownership journey.

Sioux Falls small business owners Ashley Pfaff-Shaver and Chuck Shaver.

The episode covers everything from their current situation to their dreams of building in a more private neighborhood, as well as how their financial histories impact it all.

Here’s a quick recap of what they discussed:

To build, or not to build

The couple, who met at a charity function, have been married for eight years.

They built their current home in Sioux Falls right around the time that they got married.

“That was our first home together,” Ashley said, “and we love our neighborhood. We’ve got plenty of room for our family.”

But about six years ago, their friend who’s a builder gave them a heads up: he was working on a new development in Sioux Falls.

“It was going to be this great, smaller community,” Chuck said. “Big lots, a lot of privacy, all this stuff. So, we kept in contact with him.”

Development wrapped up about three years ago. They, along with the friend who turned them on to the development, were both looking at two of the lots.

“I’m like, ‘Whichever you don’t want, we’ll take the other one,’” Chuck said. “And he ended up taking the smaller lot.”

Theirs was a two-acre lot in a neighborhood that checked many of their boxes.

Privacy? Check. Big yard? Check. In the same part of town as Ashley’s chiropractic office? Check.

Yet, they decided to hold off on building a new house.

“Because it’s expensive,” Chuck said.

“We still have these goals for our future of retirement and savings,” Ashley said, “and now that we have a son together, we have to consider his future as well. And…that’s on a higher priority list than building this new house.”

“We looked at it as an investment”

“I think, initially, it was like, ‘Let’s buy it as an investment. If we don’t keep it, we can sell it,’” Ashley said.

Despite receiving some tempting offers, the couple has maintained ownership of the lot.

In fact, Chuck has already planted trees on it.

“Some of them even lived,” he joked, adding: “Don’t buy saplings to plant on a lot if you don’t have a way to water them. That’s rule number one.”

The couple is certain at this point that they’ll one day build on the lot. When that time comes, they’re all in.

“This isn’t going to be an inexpensive starter home,” Chuck said. “You know, this is going to be an expensive place with everything that’s going on. …This is the dream home.”

One of those dreams is a tailor-made office space for Chuck, who does most of his work out of their current home.

Another dream is more space for their three-year-old son, Beckham, as he grows up.

“We have this big yard, and Beckham can be running around,” Ashley said. “Seeing him in our minds as older and throwing the football and casting off the dock in the pond.”

Six months out

“We don’t have a deadline,” Ashley said. “We’re sitting in a nice spot for our family, which I think has taken the pressure off of both of us.”

Currently, the couple doesn’t feel like they need to move out or to sell their current house.

That being said, there’s nothing particularly stopping them from moving on.

“It was a great part of our life. You know, it was the beginning of our relationship,” Chuck said. “I mean, there are a lot of memories in it, but I’m not so attached to it that it would bother me, personally, to leave for this opportunity.”

According to Ashley, the right home for their family is more about “the people and not the structure.”

And if you were to ask them today when they might break ground, the couple would tell you they’re six months away.

“We’re always six months out,” Ashley said.

For the whole story on the couple’s plans of building their dream home, watch the full episode of Common Cents on the Prairie below or listen on your favorite streaming app.

And if you’d like to talk to Adam Cox or another financial expert about your own situation, reach out to our team at First National Wealth Management. We’d be happy to start a conversation!

Any comments, insights, or strategies discussed in this article are intended to be general in nature and, therefore, may not be suitable for you and your situation, whatever that may be. Before acting on anything written here, please consult with your attorney, CPA, and/or your financial advisor.

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Adam Cox
JD, MBA

Adam Cox

Executive Vice President and Chief Wealth Management Officer
Maggie Groteluschen
JD, MBA, CTFA

Maggie Groteluschen

Fiduciary Services Manager
Don Rahn
CFP®

Don Rahn

Wealth Advisory Manager
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