Sunday, May 22, 2016

Buying, Budgeting and Balancing



Farmhouse flip update.

As we start the early process of this flip, it's all about buying renos items and getting the best price for them.
Keep a close eye on my budget and how much I am spending. 
What is the balancing part....your patience!

When I bought the farmhouse, end of April 2016, the sellers asked if they could stay there until the end of May.
Their new home would not be available until that time, I agreed.
As I wait patiently I am starting to buy and collect some items for the renos.
Some bigger items and some small.  It really is in the details.

What I'm Buying
To date this is where I am at, where I bought them and how much I paid for them.

Kitchen



Kitchen cabinets.  Lowes $1809.
They had a sales special - save the tax and I took advantage of it.
This image below is the manufactures pic.  Nimble Cabinets, the Vanilla Shake model.


source


 This does not include the labour, the counter, the sink, the hardware or appliances.
Just the cabinets.
I am plugging away at getting the rest of these items.

Laminate flooring.  Gladstone Oak from Home Depot.
I bought 12 cases.  Covering the kitchen and living room.
With the underpad I paid $303.91 in US dollars.
I bought this on route home through America in Montana, while I was returning from the west visiting my daughter in British Columbia.
This state does not have sales tax, so I was able to save there - thank you Montana!
In Canadian dollars it is approx $408.



Lighting

Ceiling light above table and chairs.  Home Depot on sale $42+tax.

 


Pendant light above sink.  Home Depot. $62+tax USD
Bought this in Duluth, Minnesota




Bathroom
 I am wanting to keep this room bright and white.
I will be using my white shower curtain from the previous farmhouse.
Bought it a year ago, online at Overstock.





Currently the entire room, top to bottom, is covered in ceramic tile.  I will be removing it all.
The bathtub glass sliding doors will be coming down as well.





White painted drywall on top and white beadboard on the bottom.
Still have yet to find a light fixture to fit this room.
I want to go farmhouse style, but it just doesn't seem to go with the flow.
Flooring is getting replaced as well, just have not bought it yet.

Vanity 
Bought this white vanity at Canadian Tire on sale for $131.99 - $8.11 in Canadian Tire points = $123.88 +tax
Picked it up in Waterloo, Ontario while visiting my Mom.
She helped me pick out this cabinet, I had a few to choose from.



Mirror
Silver mirror.  Home Sense $19.99+tax
Bought this while visiting daughter in Langford, British Columbia




Outdoor
I was at the house this week for a quick visit and the grounds are in need of attention.





We cut the grass, but the the flower beds have grown to weed.
I wanted to spray the weeds but the people living there now have a dog, and didn't want to take the risk of him getting sick.
I will deal with the overgrowth in June.




Can't wait to get a paint brush on this porch.




  Can't wait to get started on the grounds period....a house renovated looks pretty, but landscaping outside makes or breaks the property.
I am so excited to start the changes to the outside.

Screen door
I bought this Victorian screen door at Lowes for $169.
Same save the tax sale as mentioned above, so I took advantage of that.
Isn't going to look so pretty with the blue farmhouse!





I have only been home a few days from my trip out west, but the days are dragging.
I know it's all about patience, but right now it seems to be a bit wanting!


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Friday, April 15, 2016

New Farmhouse Flip



Phase 2 starts....as of April 28 I move on to my next phase of my long term goal. 
This sweet blue farmhouse gets a fresh new look. 




I purchased it for $102,000, my goal for Aug 1/16, is to put it on the market for $170,000 all sparkly new! 
I have been busy designing the new kitchen, choosing flooring and paint and everything else that the new kitchen will need.
 I'm getting ideas for the other rooms as well. It's keeping me busy, and loving every minute!








Follow along as I restore then style this sweet farmhouse.
Then put it on the market to sell.


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Sunday, April 10, 2016

Farm #2 - Tour 3



A sweet traditional farmhouse - look past the landscaping....it's there.
Situated on an acre.  Surrounded by farming fields.
Two story, good bones, foundation is good, two outbuildings on the property although one could come down.
Perfect location on a quiet gravel road, not far from nearby small town.




 I am by no means in love with this property.
I have a conditional offer on it, but am spending some time making a decision on it.
It is a 100% gut job.  I will need to address every single inch of this house.
Major work, major restoration, major expenses but on a budget, major challenge for me.
This will be my second small farm, but my fourth older style home I have renovated.
It scares me to go ahead with this purchase, but at the same time I thrive on this before and after challenge.
May not look like much now, but when I am finished I can see the difference.
The purpose of this property is for flipping and profiting from it only.
I need a reno project to keep me busy and this is it.
So lets have a look around.  I also included my reno and design thought process.

Starting with the kitchen.  Cabinets to be torn down, wallpaper removed, archway squared up,
paint walls white.
Not sure what I want to do with the ceiling yet, paint over existing or replace entirely with drywall.
New cabinets, new flooring, new lighting.

Bonus for me, all windows are new throughout the house.






Let's have a look at my reno and design thoughts...

New cabinets from Home Depot.


Here is some pics from the manufactures website of the actual cabinets.




New flooring, Amber Hickory from Home Depot.



Ceiling light above table and chairs.

source



Soft light above sink.

source


Black windsor style chairs with a natural stain table.






Moving into the living room.




Take down paneling, replace with drywall.  Paint ceiling and trim.
Not sure if I want to replace the carpet or just steam clean it.
Beige area rug.
My black buffalo check curtains, white IKEA furniture.




There are three bedrooms - master down stairs and two smaller upstairs.
The downstairs master bedroom has a wall dividing the room, once used as a nursery.
This wall will come down for one large room.

Upstairs bedrooms get a new coat of paint, steam clean carpets.
New drywall already done in both rooms....nice.

The one bedroom is open as you come up the stairs, a style I am finding for this time period in this part of Ontario.
 Would like to put a wall up to divide this room from the other. 
It also has a row of closets against the one wall.  Will be taking these down for an open space room.
.  The other room has its own privacy wall and door.

 


Outside is the most exciting for me.
You can't get a more picture perfect farm setting.
The property is surrounded by farming fields.  Along a quiet gravel road.





I have discussed with my landscaping crew what's what with the yard.
We will work on the areas around the front of the house.
Take down both old cedars.  Power wash the house.  Take down the satelite dishes on the front railing.
The vinyl siding on the house is in excellent condition.  Roof is good.
Paint the front porch.  Maybe replace the lattice under the porch.
Add a small patio area in the back.




Financials
I have an offer on this small farm for $102,000.
Once renovated I would like to sell it for approx $160-170,000.
I have a budget of $10,000 for this property....here's hoping I can stick with it!
I will have a small mortgage, an improvement from my last farmhouse as I was able to cut the mortgage in half.
My time frame goal is four months.  Would love to see it on the market in August.
This maybe my fastest flip yet. 


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