Water in the basement. Stinky subflooring. Trim that shatters.
Luckily though, the water was just from a toilet in the basement (not in a bathroom, just plumbed and put in under the steps). $20 plus my dad to fix. Then tear out all the horribly built paneling, walls, and drop ceiling to get the moldy things out. Yay for a clean unfinished basement! It's so pretty.
The subflooring will be sealed, hoping that gets rid of the poopy smell. Didn't smell it until the carpet was removed, so hoping it disappear with sealing. Trim, we had decided to replace it, albeit was going to do it one room at a time... now it is all at once. Shingles are in bad shape, but not leaking, so we're going to wait for a bit cooler weather this fall and then finish it. Getting estimates for A/C, which means we have to get estimates for electrical (box is full+).
We had upped our fix-it up costs before we signed, so thankfully I'm not thinking about how in the world we are going to pay for all this. I gave myself an ideal budget of $10,000, knowing that $15,000 will be more like it. We also have figured out how we're going to pay it over the next year and some odd months, hopefully keeping overall interest costs to a minimum.
My goal is to get it move-in-able by the end of July. If we make enough progress this long holiday weekend, I'm thinking we'll hit it. If I could spend more than one hour a night at the house (two kids 2yo and under 1yo), that date could be moved up, but family time is so important.
Now that we know our monthly principle, interest, PMI, taxes and house insurance ($806.xx rounded up to $850/mo for automatic extra principle every month), we know that we will be "saving" probably just under $400 a month once we figure out how much water/sewer/trash will be (it was free in apartment). Of course, for the first few years, we'll be turning that extra into fixing the house and yard.
I'm already day dreaming about future projects. Things to do in the next five to ten years - new windows, new siding, maybe bump out this wall, put in a path that way, fence, flowers over here, veggie garden over there...
Total Down Payment plus Closing costs: $8320
Total spent on supplies so far: $504
Ah, Homeownership
July 1st, 2015 at 08:55 pm
July 1st, 2015 at 09:23 pm 1435785834
July 1st, 2015 at 11:33 pm 1435793632
I just keep telling myself these updates/upgrades were in a different order than preferred :0 What basics will you need done to make moving in feasible? If you are having serious electrical work, do you require a permit? [we do here, not having a permit can nullify homeowner's insurance]
I like your idea of setting projects and their timeframes like replacing shingles in October when weather is cooler. Had you noticed materials for fences, decks and gardens is sale priced in the fall?
July 2nd, 2015 at 07:42 am 1435822947
(I've left an essay on your previous entry)
July 2nd, 2015 at 01:12 pm 1435842773
Good luck to you!
P.S. - Have you set a target date for PMI elimination?