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The DMG sets the default to 25 gold per day for the creation of magic items. 5E doesn't follow the formulas of 3rd Edition and has a simplified way of expressing the difficulty of creating magic items.
Type of Magic Item - Level requirement of Creator - Cost of Item if sold
Common - 3rd - 100 Gold (4 days according to basic 5E DMG)
Uncommon - 3rd - 500 Gold (20 days according to basic 5E DMG)
Rare - 6th - 5,000 Gold (200 days according to basic 5E DMG)
Very Rare - 11th - 50,000 Gold (2,000 days [@5.48 years] according to basic 5E DMG)
Legendary - 17th - 500,000 Gold (20,000 days [@54.79 years] according to basic 5E DMG)
Artifact - 20th - 5,000,000 Gold (200,000 days [@547.94 years] according to basic 5E DMG)
The first part of solving the extreme time issue, without resorting to XBOE, is to just set the magic enchantment level up to 100 gold per day.
Common - 3rd - 100 Gold (1 days according to basic 5E DMG)
Uncommon - 3rd - 500 Gold (5 days according to basic 5E DMG)
Rare - 6th - 5,000 Gold (50 days according to basic 5E DMG)
Very Rare - 11th - 50,000 Gold (500 days [@ 1.37 years] according to basic 5E DMG)
Legendary - 17th - 500,000 Gold (5,000 days [@ 13.69 years] according to basic 5E DMG)
Artifact - 20th - 5,000,000 Gold (50,000 days [@ 136.98 years] according to basic 5E DMG)
The second is recognizing that enchanting will have places of power that may enhance this work. Part of this is allowing the creator to even receive help with what they are doing via assistants to speed the process.
0. Inadequate facility
The first way an item can be created is without any special place. This could literally mean making a magic item in a cave, in a moving wagon, on a moving ship, or in the middle of a forest.
A creator with an Apprentice, a Familiar, an Intelligent Item or Divine Steed can double their progress with 8 hours of help from one of these items or people.
The system is to devote 8 hours per day to said result. The creator rolls Religion for Divine items or Arcana for Arcane items. Because of the poor nature of the work, this roll is made at disadvantage,
A success adds one day of enchantment to the item. A failure means no progress. A Natural "1" destroys the item.
Type - Difficulty - Cost to make
Common - 3 - 50 Gold
Uncommon - 6 - 250 Gold
Rare - 9 - 2,500 Gold
Very Rare - 12 - 25,000 Gold
Legendary - 17 - 250,000 Gold
Artifact - 20 - 2,500,000 Gold
I. Barely Adequate facility
The first way an item can be created is a basic workshop. A creator with an Apprentice, a Familiar, an Intelligent Item or Divine Steed can double their progress with 8 hours of help from one of these items or people. Up to two other divine or Arcane spellcasters can assist to add additional days of work in a single day, with 400 gold worth of progress now being possible per day.
The system is to devote 8 hours per day to said result. The creator rolls Religion for Divine items or Arcana for Arcane items. Because of the poor nature of the work, this roll is made at disadvantage,
A success adds one day of enchantment to the item. A failure means no progress. A Natural "1" destroys the item.
An adequate facility has no additional maintenance cost beyond what is standard for such a building in Homebrew or the DMG.
Type - Difficulty - Cost to make
Common - 3 - 50 Gold
Uncommon - 6 - 250 Gold
Rare - 9 - 2,500 Gold
Very Rare - 12 - 25,000 Gold
Legendary - 17 - 250,000 Gold
Artifact - 20 - 2,500,000 Gold
II. Wizard's Tower or Shrine
The next level is a more specialized building. A creator with an Apprentice, a Familiar, an Intelligent Item or Divine Steed can double their progress with 8 hours of help from one of these items or people. Up to four other Divine or Arcane spellcasters can assist to add additional days of work in a single day, with 600 gold worth of progress now being possible per day.
The system is to devote 8 hours per day to said result. The creator rolls Religion for Divine items or Arcana for Arcane items. These are now standard rolls.
A success adds one day of enchantment to the item. A failure means no progress. A Natural "1" destroys the item. A Natural "20" grants two additional days of work to the item.
A Wizard's Tower or Shrine costs 10 gold per day to maintain. This has a cost of 3,650 gold per year or the facility degrades to an Adequate facility until repairs are done.
Type - Difficulty - Cost to make
Common - 3 - 50 Gold
Uncommon - 6 - 250 Gold
Rare - 9 - 2,500 Gold
Very Rare - 12 - 25,000 Gold
Legendary - 17 - 250,000 Gold
Artifact - 20 - 2,500,000 Gold
III. Renowned Wizard's Tower or Renowned Shrine
The next level is an even more specialized building. A creator with an Apprentice, a Familiar, an Intelligent Item or Divine Steed can double their progress with 8 hours of help from one of these items or people. Up to six other Divine or Arcane spellcasters can assist to add additional days of work in a single day, with 800 gold worth of progress now being possible per day.
The system is to devote 8 hours per day to said result. The creator rolls Religion for Divine items or Arcana for Arcane items. These are now rolled with Advantage.
A success adds one day of enchantment to the item. A failure means no progress. A Natural "1" destroys the item. A Natural "20" grants four additional days of work to the item.
A Renowned Wizard's Tower or Renowned Shrine costs 100 gold per day to maintain. This has a cost of 36,500 gold per year or the facility degrades to an Adequate facility until repairs are done. With separate teams, up to 4 magic items can be made in this area at any one time.
Type - Difficulty - Cost to make
Common - 3 - 50 Gold
Uncommon - 6 - 250 Gold
Rare - 9 - 2,500 Gold
Very Rare - 12 - 25,000 Gold
Legendary - 17 - 250,000 Gold
Artifact - 20 - 2,500,000 Gold
IV. Arcane College or Renowned Abbey
The next level is an even more specialized building. A creator with an Apprentice, a Familiar, an Intelligent Item or Divine Steed can double their progress with 8 hours of help from one of these items or people. Up to eight other Divine or Arcane spellcasters can assist to add additional days of work in a single day, with 1,000 gold worth of progress now being possible per day.
The system is to devote 8 hours per day to said result. The creator rolls Religion for Divine items or Arcana for Arcane items. These are now rolled with Advantage.
A success adds one day of enchantment to the item. A failure means no progress. A Natural "1" destroys the item. A Natural "20" grants six additional days of work to the item.
An Arcane College or Renowned Abbey costs 1,000 gold per day to maintain. This has a cost of 365,000 gold per year or the facility degrades to an Adequate facility until repairs are done. With separate teams, up to 8 magic items can be made in this area at any one time.
Type - Difficulty - Cost to make
Common - 3 - 50 Gold
Uncommon - 6 - 250 Gold
Rare - 9 - 2,500 Gold
Very Rare - 12 - 25,000 Gold
Legendary - 17 - 250,000 Gold
Artifact - 20 - 2,500,000 Gold
V. State of the Art Facility
The next level is an even more specialized building. A creator with an Apprentice, a Familiar, an Intelligent Item or Divine Steed can double their progress with 8 hours of help from one of these items or people. Up to ten other Divine or Arcane spellcasters can assist to add additional days of work in a single day, with 1,200 gold worth of progress now being possible per day.
The system is to devote 8 hours per day to said result. The creator rolls Religion for Divine items or Arcana for Arcane items. These are now rolled with Advantage.
A success adds one day of enchantment to the item. A failure means no progress. A Natural "1" destroys the item. A Natural "20" grants ten additional days of work to the item.
An Arcane College or Renowned Abbey costs 10,000 gold per day to maintain. This has a cost of 3,650,000 gold per year or the facility degrades to an Adequate facility until repairs are done. With separate teams, up to 12 magic items can be made in this area at any one time.
Type - Difficulty - Cost to make
Common - 3 - 50 Gold
Uncommon - 6 - 250 Gold
Rare - 9 - 2,500 Gold
Very Rare - 12 - 25,000 Gold
Legendary - 17 - 250,000 Gold
Artifact - 20 - 2,500,000 Gold