3 Ways to Fund Your Doomsday Bunker
We all dream of having our very own doomsday bunker in case things ever get so bad that living above ground becomes impossible for a period of time. The problem is that very few of us have enough extra cash lying around to invest in the construction and upkeep of such a bunker.
The Cost of a Doomsday Bunker
Doomsday bunkers, while necessary, certainly aren’t cheap. This is largely due to difficulties with manufacturing and installation, but is also a byproduct of the small nature of this market. When looking at sales numbers, the market is still pretty tiny and until the market grows enough to increase production, prices will remain high.
The cost of a doomsday bunker depends heavily on what you need. “A minimal bunker can cost upward of $38,000, depending on how hooked-up the safe house is,” says appraiser Joseph Castaneda. “A reinforced concrete bunker averages around 2,500-square-feet. One that includes kitchen gear and other amenities can cost about $60,000.”
But that’s only the starting point. Shipping costs can be $10,000 or more, while excavation and installation may add $20,000 – $25,000 to the price tag. And if you want a larger bunker with more space, amenities, and features, then you can easily spend upwards of $2 million.
3 Options for Funding Your Bunker
Unless you have a lot of spare money in a bank account somewhere, you probably won’t be able to build a bunker on your own. You’re going to need a way to fund your bunker purchase and installation.
Thankfully, there are a number of options.
Much like you can take a loan out to purchase a home, you can also finance a bunker with the help of specialized lenders. Certain lenders will extend financing in the form of an FHA Title 1 Home Improvement Loan or unsecured loan. While you’ll be hard pressed to find a lender willing to finance a bunker that costs $100,000 or more, you should be able to secure enough funds for a basic bunker in the $30,000-$50,000 range.
Another option is crowdfunding. If you can’t secure traditional financing – or if the financing isn’t enough to satisfy the full purchase and installation cost – crowdfunding can provide an excellent complimentary source of funding.
There’s something about building a doomsday bunker that’s appealing to crowdfunders. It strikes an emotional chord with many and can be viewed as an opportunity to help others establish a safe and secure future. There are many different types of crowdfunding platforms, but targeting one that focuses more on personal funding (as opposed to business and startup funding) is ideal, as this will help you reach your target market.
Setting Aside Money Each Month
Another option is to gradually set aside money each month in order to build a fund for your doomsday preparations. This is exactly what American Preppers Network co-founder Phil Burns has done and continues to do.
Burns suggests setting aside as much as 20 percent of your income for preparations. This money can be used towards the purchase of a doomsday bunker, guns, food, and other supplies. It’ll take time, but there’s nothing more satisfying than knowing you’ve done it all on your own.
Make Sure You’re Prepared
“A lot of people say preppers are paranoid, scared, pessimistic, always believing that there’s going to be a disaster,” Burns says. “But if you look at it with open eyes, we’re actually optimists – we’re saying, ‘I don’t care what you throw at me, I can survive it.’”
As you consider purchasing your very own doomsday bunker, keep these three funding options in the back of your mind.