So, I decided to buy a single-family home May 2019 (2 days after my birthday)…
It’s a recently “half-ass” renovated house but, I was drawn to it…it was cute to me!
Background: My very first real estate purchase was a “rent-to-own” (click here to learn more about these types of programs) in or around December 2011/January 2012. For unforeseen reasons, I forfeited the deed and returned ownership to the seller. Next, I purchased a condo in 2014.
During the due-diligence period, I made sure that I knew what I was REALLY getting myself into. It was important to me that I understood what repairs I’d be willing to handle myself, and what repairs I wanted to negotiate with the seller – who in this case is a notorious and seasoned investor, Zareh Najarian, Founder/CEO of JarHouse (I could write a whole different blog on my experience with JarHouse, smh).
I managed to get the seller’s to agree to address the following concerns:
- Property invasion while vacant resulted in missing ceiling fixtures and vanity mirrors (I know right, weird.) Seller agreed to replace the fixtures that had been senselessly removed.
- HVAC/Furnace nearing end of life. Seller replaced HVAC and furnace.
- Water Heater was not functioning, this was also replaced.
- Waterproofing and foundation issues in the basement. Seller installed a premier water proofing package (this I love!)
- Where the property was entered during the invasion, the frame was busted. That was repaired.
NOTE/TIP: When you realize that there are water issues in a home that you are interested in purchasing, always feel free to request to see the home following any large precipitation or hire a waterproofing/mold/foundation professional to help you determine the condition of the foundation. A small fee for a consultation can save you thousands in the end.
I took responsibility for the following items:
- Attic missing proper insulation (Peachtree Pest Control)
- Gutters need to be cleaned and properly guarded due to the amount of trees surrounding the home. (Peachtree Pest Control)
- 7-feet of Soffit repairs and the back right of the home required replacing. (Peachtree Pest Control)
- Cleaning the roof of any debris. (Peachtree Pest Control)
- Sagging floor at the kitchen sink – indicative of a previous leak. (TBD)
- Driveway pavement is deteriorating. (TBD)
- Mailbox was murdered by a dead tree at the corner. LOL! (Twin Property Pro)
Home improvements (as of June 2019):
- Waterproofing system installation – $18,000 (Estimated value-add)
- Demolishing wall between the kitchen and the dining room – Open concept (Twin Property Pro)
- Demolishing the walk-in closet in the bathroom which made it physically impossible for anyone larger than me to get into the bathroom without turning side ways (and I still needed to turn sideways) (Twin Property Pro)
- Adding pocket doors to the Master Bedroom (Twin Property Pro)
- Insulation, gutters cleaned and guarded, soffit repairs, and roof cleaning – and I’ve forgot the obvious one pest control (Peachtree Pest Control)
Home improvement plans (as of June 2019):
- Adding an island and pendant lighting to the kitchen (over the future island)
- Adding a deck to the 3rd bedroom and carving the brick to place patio doors/french doors instead
- Landscaping (Phase IDK!):
- Strategically plant native trees (which can reduce energy costs and raise the value of neighboring homes), plant young shrubs, and replace annuals with perennial foliage.
- I learned my neighbors may want to purchase some of the back of the lot so I’ll do some discovery around that to understand how to price and sell a portion of my lot.
- I also want to experiment with goatscaping (FUN!)
- Demo of the wall separating the kitchen and living room; beam required
- Relocate the electricity and
- Demo of the weird bathroom walk in closet; going for open shelving
- Demo and framing of the non “mastery” master closet