Author Topic: We FINALLY Bought a House  (Read 19424 times)

Zoe

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We FINALLY Bought a House
« on: August 29, 2014, 09:07:46 AM »
We've been looking on and off for over a year. You might remember our debacle with the trailer property beside my mom's property (still trying to get our earnest money back. It's only been a year *eyeroll*). We've put in a couple offers here and there, and even got a bid accepted on a HUD house MONTHS after we submitted. We declined that one though.

Anyway, there's this house up the street from my mom's that has been vacant since at least the early 90's. It was owned by these little old ladies who are sisters. They never moved into the house but came every week to clean it up until just a few years ago. One of the sister's died and the other one put it up for auction through a real estate auction company. Some guy bought it and started doing a few things to it. I could see activity when I would drive past to go to my mom's. About 4 or 5 months ago, I noticed there hadn't been any activity. So, I looked up the owner's address and sent him a letter about either renting it or buying it.

Long story short, we agreed on a puchase price of $60K. The house is a 3 bedroom, 1 bath home. Somewhere around 1200ish sq ft and sits on 4.17 acres that backs up to a small creek. The home inspection went well. He said there was nothing hidden that we needed to worry about. Everything that needed attention was visible.

It needs updating, but other than that, is in excellent condition for it's age.

We're super stoked! We closed on it at 9am today!

Let the renovations begin!

« Last Edit: September 01, 2014, 07:36:30 AM by Zoe »

MandalayVA

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Re: We FINALLY Bought a House
« Reply #1 on: August 29, 2014, 09:09:31 AM »
Congratulations, the place sounds great!

soccerluvof4

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Re: We FINALLY Bought a House
« Reply #2 on: August 29, 2014, 09:15:47 AM »
Sounds Awesome! Congrats!

hybrid

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Re: We FINALLY Bought a House
« Reply #3 on: August 29, 2014, 09:39:24 AM »
Congratulations, with interest rates being what they are you have picked an excellent time to purchase. Personally, if I were to stumble across a rental house opportunity like that I would strongly consider it given the low purchase price.

frugledoc

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Re: We FINALLY Bought a House
« Reply #4 on: August 29, 2014, 10:43:22 AM »
that is unbelievably cheap.  you would get the worst property in the uk with no land for that price

Zoe

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Re: We FINALLY Bought a House
« Reply #5 on: August 29, 2014, 08:31:49 PM »
Thanks y'all!

We're actually owner financing at an atrocious 8%. ONLY because the house needs too much work for a conventional mortgage.

Funny thing is: Owner said he'd finance it at 8%. I tried to negotiate the interest rate since we could get qualified at a bank for a much lower rate. He said he'd rather us get a mortgage if we could. So, we tried. The house doesn't have heat, and there's some problem with like, drainage or something. They recommend gutters, and I don't even know what else. We don't really have all that money to pony up right at the moment, so my agent recommended just going with the owner finance, do the repairs at our pace (albeit as quick as possible) and refinance to a more reasonable rate. Eh. I hated doing it, because the owner was kind of an ass and the "repairs" he did on the house were horrendous. And one of the A/C window units came up missing that were supposed to remain with the house. But whatever.

It's an awesome house, on awesome property, and like the trailer we were trying to get, is actually 2 properties down from my mom. It's a win.

I'm about to delve into plumbing repair tomorrow! Wish me luck! The house has a matching blue bathroom suite that I just love! The shower diverter doesn't work and the hot & cold valves leak. So, I'm going to see about repairing the stems tomorrow. YouTube has taught me how :D

Also, does anyone know about the old 4 burner, double ovens? The one in our house doesn't work. Nothing will turn on. I want to repair it. I can get the model and whatnot tomorrow when we go back over there.

FrugalZony

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Re: We FINALLY Bought a House
« Reply #6 on: August 29, 2014, 09:10:03 PM »
Great news!! I had been wondering recently what happened to you!!
Glad to see you back!!
Congratulations on the purchase!! Hope you'll be able to refi soon, to get that percentage down ;)

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Re: We FINALLY Bought a House
« Reply #7 on: August 30, 2014, 06:22:35 AM »
My guarded congratulations.  I say guarded, because from personal experience I know what nasty repair surprises can come with a house that has not been lived in for a while.

When we bought our current house in foreclosure, it had been vacant for a little over a year.  And we (prudently) set aside a $25K fund to address issues as they came up.  And believe you me, come up they did.  And a lot of it was stuff that could not wait, like ecoli in the well and a roof that kept us from getting a home insurance approval.

So I hope you too have set aside a "house rehabilitation" fund or credit line.

Good luck in your house living adventure.

citrine

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Re: We FINALLY Bought a House
« Reply #8 on: August 30, 2014, 06:40:25 AM »
Congratulations!  I hope you have money set aside for renovations....if not, take advantage of the Home Depot interest free specials for 12/18/24 months!  I wish you all the best and good luck with everything.  It is a pain in the arse taking on an older home and renovating it!  We are three years into our 1954 beauty :)

steadierfooting

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Re: We FINALLY Bought a House
« Reply #9 on: August 30, 2014, 07:46:51 AM »
nice!  I'd love to have that much land, as long as it didn't have to be maintained to the levels that a 1/4 acre would.  Are the taxes high?

heck for 60K even if the house is a complete bomb you could knock it down, build a new one, and still be good.  But it sounds like that's not the case, awesome.

Rural

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Re: We FINALLY Bought a House
« Reply #10 on: August 30, 2014, 08:00:24 AM »
Congratulations and good luck! Man, I know just how you feel, starting this adventure! If it helps any, our land loan was at 7.5% and it didn't kill us, though we paid it off in short order (~4 years). We had the slightly better interest rate, but you are starting out with a house, not an old trailer and a need to build a house like us- that's a great situation!


When do you hope to move?

You said no heat. We moved into our (long-unoccupied aside from a squatter) trailer on this property with no heat, so I know whereof you speak. You're about to know where all the pipes are, so you'll know the heating priorities to keep them from freezing. :-)

Let me suggest a window unit heat pump as a relatively cheap stopgap/ possible longer-term solution. We wouldn't have done that as a permanent solution for a standard house, but we did okay for four years in that trailer and they work fine in our new house since it's earth sheltered. For 1200sqft, you'd need two, plus some tolerance of variation in temps between rooms, but one would keep the pipes from bursting if placed properly.

You're in the South, right? A heat pump isn't a great source up north. But since you mentioned drainage problems, you don't want unvented propane heat (another common Deep South solution). Those propane heaters vent out water vapor. If you have drainage issue on top of that, you're likely to get moldy walls this winter.

Here's one of the options at the site where we got our most recent pump (methheads stole one for the metal after we moved out of the trailer, so this was about a year ago).

http://www.totalhomesupply.com/Window-Air-Conditioner-Heat-Pump-p/amana-ah093e35axaa.htm

If you go this route, compare and be sure you're getting a heat pump with backup electric heat strip (for when it's too cold for the pump to work well) rather than only heat strip (much less efficient for temps above freezing). You will likely have to install/ have installed a 220 circuit and appropriate electrical receptacle to use these. Some big window AC units use the same power setup, but not all.

Another, possibly better option is a mini split system. They cost more, but not as much as installing a big heat pump and ductwork, and they'll cost less to run than a traditional furnace. If you want to refinance with a traditional bank, they might be more acceptable, too, but talking to bank people is the best way to find out about that. Check with local credit unions if there are any, by the way. They are likely to be more flexible in general, not just about heat.

Just do something before the first hard freeze since you'll have the pipes all fixed up by then!

Zoe

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Re: We FINALLY Bought a House
« Reply #11 on: August 30, 2014, 09:39:47 AM »
We don't have a bunch of money set aside, since we kinda fell into this deal. We'd pretty much given up until I contacted the owner on a whim. Hah!

Taxes are $500ish a year (speaking of, we need to file for the homeowners price!)

We hope to be moved by the middle of September.

We had an electrician out at the house this morning to see about a whole house rewire & adding more outlets and consolidating the fuse panel box. The house has like, 2 underneath the house.....anyway...

Electrical is our top priority. The rest of the house is really liveable.

We do have one of those electric whole house heater things. Supposed to heat up to 1800sq. We'll probably get a central heat/a/c until installed next year. And the windows are also original.

The well water has a funky smell to it, and it's light brown :/ We have a water quality test that we'll perform and see what it says. That definitely needs to be addressed before we move in.

Oh, the contractor that was at the house this morning (there was a contractor and an electrician) said the way our structure is built is awesome and you don't see them built that way anymore.

Calvawt

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Re: We FINALLY Bought a House
« Reply #12 on: August 30, 2014, 09:50:07 AM »
Sounds like a lot of work, but it should pay off if you are patient and put in the time and effort!  Good luck to you.

frugledoc

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Re: We FINALLY Bought a House
« Reply #13 on: August 30, 2014, 12:14:30 PM »
I would be seriously thinking about just demolishing the house and building from scratch.  It will be easier and you will get the exact house you want, plus you can build it eco friendly so it doesn't require much heating or cooling.

Sofa King

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Re: We FINALLY Bought a House
« Reply #14 on: August 30, 2014, 08:19:58 PM »
Congratulations!!! And good luck with your new house!!!  :  )

Zoe

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Re: We FINALLY Bought a House
« Reply #15 on: August 31, 2014, 07:24:00 AM »
The house is in excellent structural condition. Just needs a few updates. No way am I thinking about demolishing it.

Zoe

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Re: We FINALLY Bought a House
« Reply #16 on: August 31, 2014, 07:39:13 AM »
A few pictures.

Zoe

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Re: We FINALLY Bought a House
« Reply #17 on: August 31, 2014, 07:41:39 AM »
Some more.

Zoe

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Re: We FINALLY Bought a House
« Reply #18 on: August 31, 2014, 07:46:33 AM »
Couple more.

Rural

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Re: We FINALLY Bought a House
« Reply #19 on: August 31, 2014, 08:19:00 AM »
Oh, I envy you the transom window over the door to the bathroom! And the farmhouse sink! And the floors!


That looks like a coal-burning fireplace in the master; is it?


In your position, I'd do repair-type "updates" to wiring and plumbing as necessary, but not cosmetic things, or at least not for a while - the style of the fixtures fits the structure.

Editing to add: from the look, I'd bet money there's lead paint on those cabinets, so do check it out if you're thinking of scraping.

Are the walls plaster?
« Last Edit: August 31, 2014, 08:22:57 AM by Rural »

TomTX

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Re: We FINALLY Bought a House
« Reply #20 on: August 31, 2014, 08:22:59 AM »
OMG Transom windows! Real wood floors!

Oh, and good point on the lead paint. Window frames and outdoor paint often had the highest levels. Like really high, hundreds of times the modern acceptable level. Be careful.
« Last Edit: August 31, 2014, 08:24:31 AM by TomTX »

Zoe

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Re: We FINALLY Bought a House
« Reply #21 on: August 31, 2014, 08:32:54 AM »
Oh, I envy you the transom window over the door to the bathroom! And the farmhouse sink! And the floors!


That looks like a coal-burning fireplace in the master; is it?


In your position, I'd do repair-type "updates" to wiring and plumbing as necessary, but not cosmetic things, or at least not for a while - the style of the fixtures fits the structure.

:D The windows over the door (and the shower!) are called transom? I had no idea! I just thought they were super cool :) I am in super love with the sink, too! I'm shopping for cabinets right now, and will probably put "Boomerang" countertops in gray. I can't find the original type "linen" ones without paying an arm and a leg. (The current cabinets could probably be useable, but they need a really good cleaning and a repaint. The countertops are so worn and need to be replaced too. But I could use them for a while.)

I'm not sure on the fireplace. There's no flue or anything.

Yep, "repair" type of updates are what we're focusing on at the moment. And a little paint :)

OH! I just texted a guy on craigslist about an original 50's GE fridge and chest freezer combo! Totally gonna pick those up! They both work!


Zoe

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Re: We FINALLY Bought a House
« Reply #22 on: August 31, 2014, 08:35:57 AM »
I hear ya on the lead based paint. If we don't rip out the cabinets, I'm just going to clean them and apply a couple coats of paint. The interior has been "painted" by the previous owner. And by "painted" I mean, watered down cheap latex paint without covering the door handles, lights, etc. Ugh. So yeah, just a cleaning, then a primer, and a couple coats of latex paint.

Yep, plaster walls. (Will re-do with drywall at a later date.)

Rural

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Re: We FINALLY Bought a House
« Reply #23 on: August 31, 2014, 03:58:34 PM »
You'll find those transoms are a godsend without central heat and air. We framed in for transom windows here in our house, but for now we've drywalled over them (to get the place finished fast). We could use them on cold nights...


The shallow fireplaces often were coal-burning, but I can't say for sure. You could put a small potbellied woodstove in that one in your master bedroom --you run a stovepipe up the chimney to do it.


It looks to me like one of the other fireplaces has already been adapted to a stove (the round opening is for a stovepipe). If you decide to use it, though, you should check/ have the pipe checked first.


When was the house built? I'd hazard a guess at the '20s based on the pics, but country places were/are often done in an older style, so it could've been later.


Good luck with the well. Hopefully, it's just a dead animal (disgusting, but can be fixed with household bleach). With it sitting empty, it would be easy enough for the well house to be breached so that something could get in.

Cassie

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Re: We FINALLY Bought a House
« Reply #24 on: August 31, 2014, 05:07:16 PM »
2 years ago we bought a foreclosure that had sat empty for 2 years and we had no ugly surprises at all. Most of the work we did was cosmetic except for water damage but we could see it before we bought & knew what we had to do to get rid of it.  I loved looking at the pics!   Awesome!

Zoe

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Re: We FINALLY Bought a House
« Reply #25 on: August 31, 2014, 05:56:18 PM »
You'll find those transoms are a godsend without central heat and air. We framed in for transom windows here in our house, but for now we've drywalled over them (to get the place finished fast). We could use them on cold nights...


The shallow fireplaces often were coal-burning, but I can't say for sure. You could put a small potbellied woodstove in that one in your master bedroom --you run a stovepipe up the chimney to do it.


It looks to me like one of the other fireplaces has already been adapted to a stove (the round opening is for a stovepipe). If you decide to use it, though, you should check/ have the pipe checked first.


When was the house built? I'd hazard a guess at the '20s based on the pics, but country places were/are often done in an older style, so it could've been later.


Good luck with the well. Hopefully, it's just a dead animal (disgusting, but can be fixed with household bleach). With it sitting empty, it would be easy enough for the well house to be breached so that something could get in.

The transom windows are only in the bathroom, one over the door, and one over the shower. I figured it was a way to ventilate moisture.

We are kind of undecided on what to do with the fireplaces. We were thinking of putting in propane fireplaces. One in the master and one (or a double sided??!) in the living room (and the double sided would go into the dining room, if we went that route.)

According to the tax records, it was built in '45.

We dumped a gallon of vinegar down the well the other day. I won't be able to check it until I can get the shower stems replaced.

2 years ago we bought a foreclosure that had sat empty for 2 years and we had no ugly surprises at all. Most of the work we did was cosmetic except for water damage but we could see it before we bought & knew what we had to do to get rid of it.  I loved looking at the pics!   Awesome!

That was some good luck! It is pretty rare not to get surprised with a had been vacant house. We have an exterior pic too, but I think I need to downsize it first.

Malaysia41

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Re: We FINALLY Bought a House
« Reply #26 on: August 31, 2014, 06:13:21 PM »
"drainage issues"?  Those need to be addressed ASAP.   If you can get the bank-identified issues fixed and then qualify for a mortgage at 3-4% I highly advise you do that.

When I bought my first house, I paid $30k in foundation structural work to fix a problem that was due to the original owner never having taken care of drainage issues.  (Of course, we scoped the work before closing on the deal so that $30k came off of the price we paid). 


Rural

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Re: We FINALLY Bought a House
« Reply #27 on: August 31, 2014, 08:34:44 PM »
You'll find those transoms are a godsend without central heat and air. We framed in for transom windows here in our house, but for now we've drywalled over them (to get the place finished fast). We could use them on cold nights...


The shallow fireplaces often were coal-burning, but I can't say for sure. You could put a small potbellied woodstove in that one in your master bedroom --you run a stovepipe up the chimney to do it.


It looks to me like one of the other fireplaces has already been adapted to a stove (the round opening is for a stovepipe). If you decide to use it, though, you should check/ have the pipe checked first.


When was the house built? I'd hazard a guess at the '20s based on the pics, but country places were/are often done in an older style, so it could've been later.


Good luck with the well. Hopefully, it's just a dead animal (disgusting, but can be fixed with household bleach). With it sitting empty, it would be easy enough for the well house to be breached so that something could get in.

The transom windows are only in the bathroom, one over the door, and one over the shower. I figured it was a way to ventilate moisture.

We are kind of undecided on what to do with the fireplaces. We were thinking of putting in propane fireplaces. One in the master and one (or a double sided??!) in the living room (and the double sided would go into the dining room, if we went that route.)

According to the tax records, it was built in '45.

We dumped a gallon of vinegar down the well the other day. I won't be able to check it until I can get the shower stems replaced.


If you go with propane, get the kind that is vented, especially if you have drainage issues. The farmhouse we rented before we bought the land here had some sort of trouble with water under the house and had unvented propane heaters. Those put water vapor out as a byproduct, and unvented meant it all went into the house. We had black mold growing up the inside walls every winter and I nearly died of pneumonia the last year we were there -- which is probably the only reason my husband agreed to move me into a trailer; he was very opposed to that.


Transoms only in the bathroom probably are for ventilation, yes, but the will also help to keep the bathroom warmer if it isn't heated.


Talk to the health department about the well, that or the county agricultural extension. The extension is probably a good starting point, and they can help you get the water tested for a fair price.

MrsPotts

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Re: We FINALLY Bought a House
« Reply #28 on: August 31, 2014, 09:03:35 PM »
We bought a house in 1989 that had an ancient smoking oil furnace.   We had a natural gas free standing heating stove put in to the front room for about $800.  The first winter we had a freak ice storm with a week of sub zero temps and although we kept the sinks dripping and slept in the front room we were as snug as bugs in a rug.   That thing kept us warm until we could save up for forced air gas heat.

Zoe

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Re: We FINALLY Bought a House
« Reply #29 on: August 31, 2014, 09:11:04 PM »
"drainage issues"?  Those need to be addressed ASAP.   If you can get the bank-identified issues fixed and then qualify for a mortgage at 3-4% I highly advise you do that.

When I bought my first house, I paid $30k in foundation structural work to fix a problem that was due to the original owner never having taken care of drainage issues.  (Of course, we scoped the work before closing on the deal so that $30k came off of the price we paid).

That's the plan. We kept asking what they wanted us to fix, but could never get a clear answer. Gutters and adding some more dirt somewhere. That's about as much as I could get out of them.

Zoe

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Re: We FINALLY Bought a House
« Reply #30 on: August 31, 2014, 09:12:40 PM »
We bought a house in 1989 that had an ancient smoking oil furnace.   We had a natural gas free standing heating stove put in to the front room for about $800.  The first winter we had a freak ice storm with a week of sub zero temps and although we kept the sinks dripping and slept in the front room we were as snug as bugs in a rug.   That thing kept us warm until we could save up for forced air gas heat.

I contacted our natural gas company. No gas out in our area :( But, we might get even a propane wall heater in case of an outage.

MrsPotts

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Re: We FINALLY Bought a House
« Reply #31 on: August 31, 2014, 09:18:24 PM »
A propane tank would give the kudzu something to grow on!  ;).     

Zoe

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Re: We FINALLY Bought a House
« Reply #32 on: September 01, 2014, 07:22:48 AM »
A propane tank would give the kudzu something to grow on!  ;).   

Haha! I actually haven't seen any kudzu on the property. I'm sure it's there though!

You'll find those transoms are a godsend without central heat and air. We framed in for transom windows here in our house, but for now we've drywalled over them (to get the place finished fast). We could use them on cold nights...


The shallow fireplaces often were coal-burning, but I can't say for sure. You could put a small potbellied woodstove in that one in your master bedroom --you run a stovepipe up the chimney to do it.


It looks to me like one of the other fireplaces has already been adapted to a stove (the round opening is for a stovepipe). If you decide to use it, though, you should check/ have the pipe checked first.


When was the house built? I'd hazard a guess at the '20s based on the pics, but country places were/are often done in an older style, so it could've been later.


Good luck with the well. Hopefully, it's just a dead animal (disgusting, but can be fixed with household bleach). With it sitting empty, it would be easy enough for the well house to be breached so that something could get in.

The transom windows are only in the bathroom, one over the door, and one over the shower. I figured it was a way to ventilate moisture.

We are kind of undecided on what to do with the fireplaces. We were thinking of putting in propane fireplaces. One in the master and one (or a double sided??!) in the living room (and the double sided would go into the dining room, if we went that route.)

According to the tax records, it was built in '45.

We dumped a gallon of vinegar down the well the other day. I won't be able to check it until I can get the shower stems replaced.


If you go with propane, get the kind that is vented, especially if you have drainage issues. The farmhouse we rented before we bought the land here had some sort of trouble with water under the house and had unvented propane heaters. Those put water vapor out as a byproduct, and unvented meant it all went into the house. We had black mold growing up the inside walls every winter and I nearly died of pneumonia the last year we were there -- which is probably the only reason my husband agreed to move me into a trailer; he was very opposed to that.


Transoms only in the bathroom probably are for ventilation, yes, but the will also help to keep the bathroom warmer if it isn't heated.


Talk to the health department about the well, that or the county agricultural extension. The extension is probably a good starting point, and they can help you get the water tested for a fair price.

Thanks for the heads up on the propane! I'm going to see if I can get some clearer answers on our "drainage" issue, or whatever the bank is calling it. We also have, what I'm calling, a root cellar. I'll try to remember to take some pics today when we go over there. It is a little it flooded, so we need to get a sump pump. I'm not entirely sure how all that water is getting in though. It does have some small basement like windows that are broken, but I just can't imagine all that water getting in that way. We need to at least board those up for the time being.

Zoe

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Re: We FINALLY Bought a House
« Reply #33 on: September 01, 2014, 07:37:34 AM »
I added an exterior pic in the first post that addresses the drainage issue I think they're talking about.

Moonwaves

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Re: We FINALLY Bought a House
« Reply #34 on: September 01, 2014, 10:25:00 AM »
Oh, I envy you the transom window over the door to the bathroom! And the farmhouse sink! And the floors!

:D The windows over the door (and the shower!) are called transom? I had no idea! I just thought they were super cool :) I am in super love with the sink, too!
Yep, "repair" type of updates are what we're focusing on at the moment. And a little paint :)
+1 more in love with your sink. It's lovely!

burly

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Re: We FINALLY Bought a House
« Reply #35 on: September 01, 2014, 10:27:20 AM »
I had similar drainage issues, depending on the level of rain, you may want to get a 5in gutter on the side as the way your roof is built there isn't a lot of places for rain to go except the small straight areas, (where you circled), if you put in a gutter system and then make sure the bottom of the drain you attach a pipe to go out 5-10ft. May be a little extreme, but I like water far away from my house.

Secondly, My home is an older home, building 1950, and if you can, I would strip down the exterior walls 1 room at a time, I found that with my old house:
 1. Never enough outlets - added many
 2. No insulation were in my walls - then again you're in the south, might not be as much as an issue
 3. You can get an idea of any other problems you may encounter.

However, it won't hurt to wait a season to see how cold it gets and what your heating bills are like.  Sheetrock is cheap.


okashira

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Re: We FINALLY Bought a House
« Reply #36 on: September 01, 2014, 01:34:39 PM »
Oh, I envy you the transom window over the door to the bathroom! And the farmhouse sink! And the floors!


That looks like a coal-burning fireplace in the master; is it?


In your position, I'd do repair-type "updates" to wiring and plumbing as necessary, but not cosmetic things, or at least not for a while - the style of the fixtures fits the structure.

:D The windows over the door (and the shower!) are called transom? I had no idea! I just thought they were super cool :) I am in super love with the sink, too! I'm shopping for cabinets right now, and will probably put "Boomerang" countertops in gray. I can't find the original type "linen" ones without paying an arm and a leg. (The current cabinets could probably be useable, but they need a really good cleaning and a repaint. The countertops are so worn and need to be replaced too. But I could use them for a while.)

I'm not sure on the fireplace. There's no flue or anything.

Yep, "repair" type of updates are what we're focusing on at the moment. And a little paint :)

OH! I just texted a guy on craigslist about an original 50's GE fridge and chest freezer combo! Totally gonna pick those up! They both work!

I hope those are ultra cheap and only temporary. They will cost you more then a new set over time.

Davids

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Re: We FINALLY Bought a House
« Reply #37 on: September 01, 2014, 02:49:20 PM »
Congrats on the house, sounds like a great deal.

Cassie

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Re: We FINALLY Bought a House
« Reply #38 on: September 01, 2014, 04:34:07 PM »
If the house lacks insulation you can have it blown in rather then taking down the walls. We had an 100yo house in the Midwest that had tons of insulation so just because it is old does not mean it is not insulated.

Dicey

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Re: We FINALLY Bought a House
« Reply #39 on: September 01, 2014, 05:30:01 PM »
Congratulations! I see you have lovely home with new energy efficient windows, which is a big plus. Are the floors new, too?

I'm old enough to remember being excited to get a 7% loan, so your 8% doesn't freak me out at all. Focus on getting the work done asap, so you can get a mortgage while rates are still low. I hope your contract doesn't have any prepayment penalty. Once you ascertain what it is the bank needs to see to get a mortgage (clearly a moving target, but experienced realtors might be a good source of information), I'd focus on that with all my might. I'd even consider a 0% for 18 months credit card to get it done soon enough to lock in a good fixed rate. And don't be afraid of a 30 year loan, you can always pay it off early after all your projects are done, many years from now, LOL.

Sadly, Okashira is completely right about the inefficiency of that old refrigerator and freezer. They will probably cost you a fortune to run. Even it they were free, they might not be worth having in your home. I know they look cool and were built to last forever, but they are woefully inefficient.

Zoe

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Re: We FINALLY Bought a House
« Reply #40 on: September 01, 2014, 08:17:04 PM »
Congratulations! I see you have lovely home with new energy efficient windows, which is a big plus. Are the floors new, too?

I'm old enough to remember being excited to get a 7% loan, so your 8% doesn't freak me out at all. Focus on getting the work done asap, so you can get a mortgage while rates are still low. I hope your contract doesn't have any prepayment penalty. Once you ascertain what it is the bank needs to see to get a mortgage (clearly a moving target, but experienced realtors might be a good source of information), I'd focus on that with all my might. I'd even consider a 0% for 18 months credit card to get it done soon enough to lock in a good fixed rate. And don't be afraid of a 30 year loan, you can always pay it off early after all your projects are done, many years from now, LOL.

Sadly, Okashira is completely right about the inefficiency of that old refrigerator and freezer. They will probably cost you a fortune to run. Even it they were free, they might not be worth having in your home. I know they look cool and were built to last forever, but they are woefully inefficient.

There's only 3 windows that are new. Those two in the front, and one in the back. The rest are all original.

The inefficiency of the fridge and freezer saddens me greatly. /Sigh.

The double oven stove in the photos WORKS! And I'm keeping it! This one is staying! I've wanted a double oven for so long. :D

Edit: Floors are not new. They looks much worse in person actually. The original owners had put down linoleum throughout the living room, dining room, and kitchen. The owner before us had it stripped off and they did a terrible job. We were actually thinking about just painting the floors. But, I decided that was too much work, haha. After we put in our furniture and area rugs you won't see much of the floors anyway.

The contract does not have a prepayment penalty. The only thing that concerns me with putting the repairs on a 0% 18 months card is that our budget is actually pretty tight. We have 0 debt, other than the mortgage. I'm currently unemployed, but am applying & interviewing for jobs, but haven't gotten an offer just yet. And we just signed up for insurance through my husband's employer and it's going to take a nice chunk out of his paychecks :(

Are projects ever really done? :P
« Last Edit: September 02, 2014, 07:36:41 AM by Zoe »

Zoe

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Re: We FINALLY Bought a House
« Reply #41 on: September 04, 2014, 09:04:30 AM »
We gave our electrician a deposit yesterday. He'll start on Monday and be finished on Wednesday. EVERYTHING will be new. I hate spending the money, but definitely like having the peace of mind that the house won't catch on fire :P

We have like, 6 (2-prong) outlets in the house right now lol. We will have between 30-35 outlets and 20-25 switches. We went to a Habitat Restore (like a Goodwill for house building materials and furnishings) and scored 4 ceiling fans with lights, 2 lights, and 3 pendant lights for him to install. And he's going to go ahead and run wire for a dishwasher and a garbage disposal for whenever we put them in.

yogagirl95

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Re: We FINALLY Bought a House
« Reply #42 on: September 07, 2014, 05:54:31 PM »
If you check out retrorenovation.com there was just an article on boomerang countertops. Grey is most affordable but there are some other options not priced bad.

I have a 1945 foreclosure also. I LOVE your sink. The stove looks cool too from what I can see of it. I would keep the cabinets, they don't make them anymore like that.

isbjshaffer

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Re: We FINALLY Bought a House
« Reply #43 on: September 07, 2014, 06:32:00 PM »
Congratulations on the house! Being a homeowner has been very rewarding for us. We purchased a foreclosure not even 2 years ago for 100k. We just had an appraisal done on it last week after some minor repairs and remodels and it came in at 145k! Do it right and you'll make bank! Congrats again!

LouisPritchard

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Re: We FINALLY Bought a House
« Reply #44 on: September 07, 2014, 06:42:54 PM »
Also, does anyone know about the old 4 burner, double ovens? The one in our house doesn't work. Nothing will turn on. I want to repair it. I can get the model and whatnot tomorrow when we go back over there.

If they're plugged in and the breaker isn't tripped, then I bet the heating elements are just old/bad. Get the make/model and see if you can find new ones. Ovens especially the old ones aren't very complicated.

I'm also assuming they're old enough to have a dial on the front for the temp. If you have a multimeter check the ohms on it, not that the actual reading matters so much, as it changes as you turn the dial.

 

Zoe

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Re: We FINALLY Bought a House
« Reply #45 on: September 08, 2014, 07:52:16 AM »
If you check out retrorenovation.com there was just an article on boomerang countertops. Grey is most affordable but there are some other options not priced bad.

I have a 1945 foreclosure also. I LOVE your sink. The stove looks cool too from what I can see of it. I would keep the cabinets, they don't make them anymore like that.

Yes, yes, yes! I've been all over retrorenovation! I think the Grey Boomerang is about the only (affordable) option left. Supposedly my local Lowes carries it in a sheet, I think? So, I'd have to get a countertop person to actually put it on the counter?

I'm torn on the cabinets. They must look better in the pictures. They need a DEEP cleaning, and then I'm going to paint the tops white and the bottoms teal! They're just really super basic cabinets. We're going to need cabinets beside the stove as well. Oh, and we're going to add in a dishwasher beside the wall to the left of the sink.

Congratulations on the house! Being a homeowner has been very rewarding for us. We purchased a foreclosure not even 2 years ago for 100k. We just had an appraisal done on it last week after some minor repairs and remodels and it came in at 145k! Do it right and you'll make bank! Congrats again!

Congrats on that purchase!! I'm hoping our appraisal in a couple years comes back big too!

Also, does anyone know about the old 4 burner, double ovens? The one in our house doesn't work. Nothing will turn on. I want to repair it. I can get the model and whatnot tomorrow when we go back over there.

If they're plugged in and the breaker isn't tripped, then I bet the heating elements are just old/bad. Get the make/model and see if you can find new ones. Ovens especially the old ones aren't very complicated.

I'm also assuming they're old enough to have a dial on the front for the temp. If you have a multimeter check the ohms on it, not that the actual reading matters so much, as it changes as you turn the dial.

 

Thanks for that info! Turns out the breaker was off! (Breaker box is currently under the house...uh...yeah. I'm not going under there! Sent the husband under.)

The stove works and I love it! I can't wait to cook on it!

popsy13

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Re: We FINALLY Bought a House
« Reply #46 on: September 09, 2014, 05:07:32 AM »
Congrats and All The Best for Future. Enjoy your life..Stay Blessed !!!!!!!!!

Zoe

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Re: We FINALLY Bought a House
« Reply #47 on: September 11, 2014, 03:46:48 PM »
The rewire job on the whole house is done! We're moving in this weekend.

Rural

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Re: We FINALLY Bought a House
« Reply #48 on: September 11, 2014, 06:59:16 PM »
Woo-hoo!

Mr. Frugalwoods

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Re: We FINALLY Bought a House
« Reply #49 on: September 11, 2014, 07:07:06 PM »
Congratulations!  I think there are few moments in life that are at the same time so exciting and terrifying!

You probably are right about the drainage in that corner.  A roof needs a gutter.  A roof with a valley like that _really_ needs gutters.  That's a lot of water sheeting off the roof and hanging out right next to the house.  Some gutter and a good long downspout extension away from the house will be a cheap fix.

You might also need to re-grade the area to provide better slope away from the house.  But I'd do the gutters first and see if that fixes it.  You definitely need gutters, you might not need re-grading.

 

Wow, a phone plan for fifteen bucks!