Author Topic: I just found out today that my house has an ocean view.  (Read 2248 times)

clarkfan1979

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I just found out today that my house has an ocean view.
« on: September 02, 2018, 10:31:10 PM »
I bought a foreclosure and it closed in June. Just talked to the neighbor and it's been empty for about one year but the previous owner stopped taking care of the lawn/yard another 3 years previous to that. There are many trees that are overgrown on the property.

After climbing on the roof after week 1 in June I noticed it had a killer ocean view. My mind started spinning on how to go up one level.

I'm now starting to cut back some of the trees that are about 15 feet tall. I just noticed that if I cut them back to about 8-10 feet tall I can block my neighbors house and still get an ocean view!

So Stoked!

lhamo

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Re: I just found out today that my house has an ocean view.
« Reply #1 on: September 02, 2018, 10:49:14 PM »
Just be careful you don't kill the trees!

Here in Seattle many of the older neighborhoods are seeing massive remodels of what used to be more modest houses in order to add space and improve the views -- many expand up a whole story to add a master suite or a whole additional floor of bedrooms.  That actually probably happened to our house about 20 years ago -- our master suite does not seem to be original to the house.  We have a view of the lake from the main floor, but the view from upstairs is nicer.  Not ocean view, though!

clarkfan1979

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Re: I just found out today that my house has an ocean view.
« Reply #2 on: September 03, 2018, 12:11:58 AM »
I'm 2.5 miles away so it's a distant ocean view. It's a valley and the ocean at the end. Way better than starring at block-out trees about 50 feet away.

I could still go up a level if I need to, but cutting back some trees is way cheaper. I'm on a hill. My elevation is about 500 ft. Plenty of views for everyone to share.

I will post some pics when I get it all cleared. Maybe 2-3 weeks?




Linea_Norway

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Re: I just found out today that my house has an ocean view.
« Reply #3 on: September 03, 2018, 01:06:06 AM »
Are you going to live in it yourself, or is it a fix-her-upper for resale?
Clearing the view is smart. Before investing a lot of time and money in the house itself, find out whether the land is worth more without the house on it.

I have often seen that fantastic plots have a old house on it that someone fixed up with new windows, new kitchen, etc. But it is still an older house that you would want to buy. I would have bought the plot if it had had an old, cheap house on it. But not with a medium expensive, middle quality house on it.

clarkfan1979

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Re: I just found out today that my house has an ocean view.
« Reply #4 on: September 03, 2018, 01:25:25 AM »
Even if a buyer is planning on leveling the house they still have to pay for the house, even if they don't want it.

I think my lot is worth about 400K. The re-build cost of the house is about 500K according to my home insurance policy. I bought the house for 603K. I'm going to try to stop myself at 47K for rehab costs. When done, it should be worth about 800K to 900K.


MrThatsDifferent

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Re: I just found out today that my house has an ocean view.
« Reply #5 on: September 03, 2018, 07:09:52 AM »
Why do trees need to be destroyed for a view of water?

tralfamadorian

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Re: I just found out today that my house has an ocean view.
« Reply #6 on: September 03, 2018, 07:43:52 AM »
Why do trees need to be destroyed for a view of water?

That's a little harsh, isn't it? Topping some 15ft trees down to 10ft to improve the view for OP sounds like prudent maintenance to me.

GizmoTX

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Re: I just found out today that my house has an ocean view.
« Reply #7 on: September 03, 2018, 09:09:06 AM »
Why do trees need to be destroyed for a view of water?

Some trees are 'trash', meaning they are invasive, present a risk of falling down, & aren't worth saving.

Friends of ours discovered their amazing house on Sanibel Island, FL, that was languishing on the market because it had a grossly overgrown area behind the house that completely obscured a gorgeous pond that was maintained by the HOA. Why the sellers didn't remove this was our friends' gain.

We are cutting the vegetation, including trash trees, down to the ground for about 20' on the cliff between a house we're building & a lake to create a wildfire break as well as improve the view.

MrThatsDifferent

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Re: I just found out today that my house has an ocean view.
« Reply #8 on: September 03, 2018, 01:24:03 PM »
Why do trees need to be destroyed for a view of water?

That's a little harsh, isn't it? Topping some 15ft trees down to 10ft to improve the view for OP sounds like prudent maintenance to me.

How can that question be harsh? Maybe there’s a reasonable explanation? And sometimes humans are just reckless, destroying life for our own benefit. It’s always good to question and know we’re doing things because they should be done. There is nothing harsh about environmental awareness.

GreenEggs

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Re: I just found out today that my house has an ocean view.
« Reply #9 on: September 03, 2018, 02:09:34 PM »
Assuming you're surrounded by decent trees a 15ft tree, that's blocking a great view, is just a big weed.  Why not just cut it entirely down?  Topping it to 10ft seems like a waste of time.

clarkfan1979

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Re: I just found out today that my house has an ocean view.
« Reply #10 on: September 03, 2018, 04:30:56 PM »
Assuming you're surrounded by decent trees a 15ft tree, that's blocking a great view, is just a big weed.  Why not just cut it entirely down?  Topping it to 10ft seems like a waste of time.

The house is on a hill. The one house behind me is lower on the hill. If I keep the trees at 8-10 ft. I can keep my privacy from my neighbor but also see the distant ocean view from my house and deck. There is no view from the backyard. It's too low. The house and deck is about 8-10 ft. higher than the backyard.

With the trees at 15 ft. I can't see anything past them. They are skinny and tall trees used for privacy. Not very difficult to cut.

-Adam

GreenEggs

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Re: I just found out today that my house has an ocean view.
« Reply #11 on: September 03, 2018, 06:53:34 PM »
That makes sense.  Maybe it will become bushier after you top it, which would provide more privacy. 


Paradise is even better with a good ocean view.  Congrats!

Freedom2016

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Re: I just found out today that my house has an ocean view.
« Reply #12 on: September 03, 2018, 08:50:16 PM »
Even if a buyer is planning on leveling the house they still have to pay for the house, even if they don't want it.

I think my lot is worth about 400K. The re-build cost of the house is about 500K according to my home insurance policy. I bought the house for 603K. I'm going to try to stop myself at 47K for rehab costs. When done, it should be worth about 800K to 900K.

Question - how will a 47K reno increase the value of your house by 50%? Genuinely curious here. I had always read that renos almost never increase the value of the property more than the cost of the reno.

Linea_Norway

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Re: I just found out today that my house has an ocean view.
« Reply #13 on: September 04, 2018, 01:04:29 AM »
Even if a buyer is planning on leveling the house they still have to pay for the house, even if they don't want it.

I think my lot is worth about 400K. The re-build cost of the house is about 500K according to my home insurance policy. I bought the house for 603K. I'm going to try to stop myself at 47K for rehab costs. When done, it should be worth about 800K to 900K.

Question - how will a 47K reno increase the value of your house by 50%? Genuinely curious here. I had always read that renos almost never increase the value of the property more than the cost of the reno.

By doing the reno yourself and not counting your private hours in the price. You only buy the materials and do the work for free. If you do it well, it might generate the price of having a reno done by a professional builder.

lhamo

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Re: I just found out today that my house has an ocean view.
« Reply #14 on: September 04, 2018, 05:33:53 PM »
I believe in this case the OP also may have purchased the house as a foreclosure or short sale, and therefore got a below-market price for it.

DIY renos can be a great way to increase the value on the right house in the right neighborhood.  Where the housing stock is older/in high demand and has not been well-maintained or upgraded for decades, you can get quite a bit of money back on a reno if you know what you are doing.  In tract developments out in the suburbs, not so much.

clarkfan1979

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Re: I just found out today that my house has an ocean view.
« Reply #15 on: September 04, 2018, 07:14:39 PM »
Even if a buyer is planning on leveling the house they still have to pay for the house, even if they don't want it.

I think my lot is worth about 400K. The re-build cost of the house is about 500K according to my home insurance policy. I bought the house for 603K. I'm going to try to stop myself at 47K for rehab costs. When done, it should be worth about 800K to 900K.

Question - how will a 47K reno increase the value of your house by 50%? Genuinely curious here. I had always read that renos almost never increase the value of the property more than the cost of the reno.

I plan to be all-in at 650K. When done, I think it will be worth 800K to 900K. Let's take the middle at 850K. 650K to 850K is a 31% increase, not 50%. I am achieving the 31% increase in value mainly through sweat equity.

This is not a typical deal. I was looking for a good deal and it took me 18 months to find it. House was listed for 549K. I bid 603K. There were 9 offers and I was the 2nd highest. Highest offer fell through and I got it. House appraised "as is" for 615K.

Real estate professionals that use the BRRR strategy aim for a 25% to 30% increase in value after rehab. If achieved they can refinance and pull all of their cash out of the house and do it again. Rehabbing strategies are going to vary based on the local area.

One of the main guys on biggerpockets buys 2 bedroom homes in Florida with a screened in porch. He then converts the porch into a 3rd bedroom. He gets 25% increase in value with hiring the work out. I am doing most of the work myself (sweat equity), which is part of the reason I am able to get to 31%.

The house last sold for 547K in 2003. It was a foreclosure with a remaining balance of 882K. The previous owner must have re-financed it at some point and it probably appraised for 900K to 950K, to be consistent with a remaining balance of 882K. The previous owner was in a wheelchair and let the house go into disrepair. With no chance of selling for 882K in the current condition, the house went into foreclosure.

I am fixing it up and getting it back into it's original condition. The house has been neglected for about 4 years, but not technically damaged. There is a small difference.
 


   


clarkfan1979

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Re: I just found out today that my house has an ocean view.
« Reply #16 on: September 17, 2018, 10:39:57 PM »
Here are my pics of my ocean view. I'm on a hill about 500 ft. above sea level. The ocean is about 2.5 miles away as the crow flies. I took the picture with a cell phone standing on my deck. The view is much better in person. You can see the 15 ft. tall trees on the right. I cut them down to about 10 ft.

The backyard is 8-10 ft. lower. There is no ocean view from the yard.
« Last Edit: September 17, 2018, 10:43:18 PM by clarkfan1979 »