ChrisBWJ
We're also in the process of building a new home, and used the same logic with our recent tractor purchase as you did.
I bought the biggest hoe available from the manufacturer for my new Century tractor (8 1/2 ft) and 2 buckets (18" and 36"). I started excavating the walkout basement using the FEL, but quickly learned that WV clay is too tough for that approach. I then started pounding away at it with the backhoe. This was VERY time consuming. The reach on these TLBs isn't enough to get the spoil out of the way, so I had my father in law use our other tractor's grader blade (no FEL on that one /forums/images/graemlins/frown.gif) to remove it. We also hauled some soil out with an old dump truck I bought, but again, there was a problem with not enough reach to efficiently excavate and load the soil. I finally rented a full-size cat backhoe and did the work in at least 1/3 of the time as the compact TLB. In retrospect, a mid-sized excavator would have worked out even better yet.
I'm not trying to get you down on your backhoe purchase, because that tool will wind up saving you way more money over the long haul than it's cost. Just have a realistic expectation on the amount of work that can be efficiently completed with it. The money spent for a week or even a weekend equipment rental will free up several future weekends for the countless other jobs around the new house, not to mention getting the time to remain acquainted with your family.
I have removed countless tons of mudslide debris, dug up at least a dozen oak and maple stumps, installed several ditches and drain lines, and have lots more jobs planned for my hoe as well (including a pool, possibly running about 400 feet of a creek through some culvert to reclaim some yard, digging retaining wall footers, not to mention the landscaping jobs which we will both become way too familiar with soon enough!), so these hoes don't just sit around.
One last thought - Using your TLB to build up "sweat equity" in your new home may allow you to basically pay yourself with some of the construction proceeds and then use that money to pay down your tractor/backhoe loan, effectively spreading out the tractor's repayment over the life of your mortgage and possibly even writing off the interest on your taxes. Of course, free financing for 3 years is a pretty tough deal to beat!
Sorry for the novel.
I'm sure you won't regret your decision to get the backhoe.
Eric
