A couple in Georgia has found an interesting way to go debt-free—they gave up their large home to pay off all their bills and then flipped a small Home Depot shed and sold it for over $300,000.
It was in March of 2020 that Nick and Meghan Lucido realized they had to do something about their accumulating debt and costly lifestyle. The solution? Sell their 2,000-square-foot home and move into a camper. After selling their home, they were able to pay off a good portion of their debts and acquire an eight-acre piece of land for $40,000.
“We never missed a mortgage payment,” Nick Lucido explained in an interview with 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.”
That’s when the couple was inspired to make some changes in their life. So instead of building a typical new home from scratch, they got creative with a shed they found at Home Depot and decided to flip it into a tiny home.
“We saw a two-story shed in the Home Depot parking lot,” Lucido explains, “and said ‘I think we could make that work.'”
They lived for a year in a camper, while paying off $82,000 in debt and working to make the Home Depot shed a suitable home for someone. And it paid off: they sold the shed in December for a cool $312,000.
The couple says they’ve since been able to buy their dream home, and all without getting themselves into debt.
“The ability to pay off everything, move into a camper, and literally be debt-free was the most freeing experience that I think anyone can ever experience,” Nick says. They’ve now purchased a custom-built, two-story home.
“We moved in February this year. House is all done. And we got the dream home,” Lucido says.
In an Instagram post, Lucido explained how he and his wife got underwater with their debts. They made many mistakes, he says, including buying a home they could scarcely afford, and buying expensive new cars at a time when they should have been saving.
View this post on Instagram
“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 said.
Lucido ended up pulling permits himself as the homeowner to do the work flipping their Home Depot shed, which saved a lot of money on general contractor costs and labor. The shed, meanwhile, is nice enough, with an 860-square-foot footprint, a full kitchen and living room (as long as you don’t expect too much from your kitchen and living room), and even a nice porch.
He also showed off the renovated shed in a viral TikTok post, which has garnered two million views.
@fitnick_ My mountain home is a shed from Home Depot! #fyp #stepintolove #homedepot #tinyhouse #shed #mountainlife #mountain #northgeorgia #usa #trump2020 ♬ original sound – Nick Lucido
“If you go to any Home Depot, at least in the southeast, you go inside of their parking lot, you’ll typically see sheds,” Lucido says in the post. “[T]his right here is actually a tiny home, Tuff shed from Home Depot, two stories, 860 square feet, one-bedroom, full kitchen, full living room, the porch, then of course we got a chicken coop back there…a deck with our above-ground pool and a trampoline for the little one, of course.”
The couple has shared their experience on Instagram and TikTok and amassed a dedicated following. And in February, they were able to move into their new home with the proceeds of the sale of the tiny home.
“A lot has changed. Good thing for a crazy market and people’s love for tiny homes!” Lucido said.
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