Home owner questions: | TigerDroppings.com

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House_of Cards
LSU Fan
Member since Dec 2013
1513 posts

Home owner questions:


I have recently undergone several upgrades in my home and I was wondering the opinion on some here who may have done similar things. I purchased a hone in Sept. 2013 on HUD for just $37,000. Ridiculously low - and in decent shape. Since, I have undergone a few additions to the property so first, I can really enjoy my home and second, for resale value.

So far, I have already put laminate flooring down where carpet used to be and tile in the kitchen and the bar. See the picture below. Also, I have upgraded the lighting away from fluorescent in the kitchen to recess lighting. Add in a new paint job and the home looks good.



Projects in consideration now are enclosing my patio deck and using my left over laminate flooring to deck it with for a little dining area outside (this I have not been quoted). Also, I am planning to add plantation shutters ($2,665) to the home.

I plan to be here for a few years, but plan to sell when the time is right. I am trying to be responsible with my money and use every saved dollar and invest it in my Roth or my home. Am I doing the right thing?

Next, I am asking if these projects I have done - particularly the plantation shutters, tile flooring ($1,500) and laminate flooring ($3,000) will get good return values for the home later on?







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anc
Member since Nov 2012
1591 posts

re: Home owner questions:


Looks good.

You should be able to get a decent ROI on what you have done. I envy all you guys that can do crap like this.

I have a friend that personally, working a couple hours a night turned an old 70s kitchen into this:







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eng08
LSU Fan
Member since Jan 2013
1542 posts

re: Home owner questions:


You can probably make plantation shutters with several sets of old shutters for much less than that. Especially if you just need a few for the front only. The trick is finding the 4 sets of shutters all the same size.





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reb13
Ole Miss Fan
Oxford, MS
Member since May 2010
9835 posts

re: Home owner questions:


I feel like plantation shutters are at a much higher aesthetic level than laminate flooring and the people in your price range may not see as much value in them.

Full disclosure I am not a homeowner.






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TaxmanMSU
Mississippi St. Fan
Member since Oct 2012
3052 posts

re: Home owner questions:


New floors are great for the eye, do they add a ton to the appraisal? Not particularly.

Best things to do for value are to update the bathrooms and kitchen. Out with the old, in with the new.






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Chad504boy
New Orleans Saints Fan
Five Oh Four
Member since Feb 2005
79285 posts

re: Home owner questions:


Add sqft to home





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wickowick
LSU Fan
Head of Island
Member since Dec 2006
22262 posts
 Online 

re: Home owner questions:


You have to look at the neighborhood also, don't do more than the neighborhood will support...





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Mr.Perfect
Louisiana
Member since Mar 2013
4502 posts

re: Home owner questions:


Are you adding coverage to your homeowners policy? If it burns down its all for naught





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Chad504boy
New Orleans Saints Fan
Five Oh Four
Member since Feb 2005
79285 posts

re: Home owner questions:


I hope he's not insuring his house for 37k!!!!!





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House_of Cards
LSU Fan
Member since Dec 2013
1513 posts

re: Home owner questions:


My house is valued less than every house in the block. It's doubled it's appraisal, my realtor said I could maybe squeeze $80k for it, but definitely $70k. That would be great.





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diat150
Tulane Fan
OPELOUSAS
Member since Jun 2005
18754 posts

re: Home owner questions:


you should have changed those small arse moldings. mdf molding is cheap.





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Chad504boy
New Orleans Saints Fan
Five Oh Four
Member since Feb 2005
79285 posts

re: Home owner questions:


Work to pay loan off, convert to rental, don't sell





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House_of Cards
LSU Fan
Member since Dec 2013
1513 posts

re: Home owner questions:


Don't sell? You'll have to give me more. I can easily make $35-40k in the sell. Minus what I invested in it, that's a net positive $22k in less than a year. I've had roommates which have basically paid my mortgage for me. Why would renting out be better?





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Chad504boy
New Orleans Saints Fan
Five Oh Four
Member since Feb 2005
79285 posts

re: Home owner questions:


You'll always have the equity in house plus monthly income





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House_of Cards
LSU Fan
Member since Dec 2013
1513 posts

re: Home owner questions:


Where are good places to research how to properly wrote rental contracts?





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Chad504boy
New Orleans Saints Fan
Five Oh Four
Member since Feb 2005
79285 posts

re: Home owner questions:


Nit sure exactly but there's lots of samples out there. Think things through like pets maintance damage deposits etc





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TigerAlum1982
LSU Fan
Member since Sep 2011
415 posts

re: Home owner questions:


If you have standard sized windows, you can get these shutters at Lowes for much less than custom plantation shutters; and, they really look nice. We used them in the kid's bedrooms.

LINK #!






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BR Tiger
LSU Fan
Baton Rouge
Member since Mar 2004
1918 posts

re: Home owner questions:


I would not put laminate in an outdoor space. You will have problems with it swelling and warping and it will be very slippery from condensation and rain.





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House_of Cards
LSU Fan
Member since Dec 2013
1513 posts

re: Home owner questions:


Tiger alum: can you post link again?

BrTiger: I plan to enclose it and possibly do a sunroom. I'll be sure to do something that allows it to be moved, if not, simply add more deck.






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Mr.Perfect
Louisiana
Member since Mar 2013
4502 posts

re: Home owner questions:


quote:

I hope he's not insuring his house for 37k!!!!!


Thats cute.

Considering you 1) have no idea if its financed and required and
2) know if he can afford to self insure.....

Whats the premium on a cheap house like this? Next to nothing?

Eta:. Perhaps you were agreeing with me?



This post was edited on 6/10 at 11:04 pm


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