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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3 comments:

  1. This is a very sweet farmhouse and after all of your renos, it will be amazing! If you really want a project, than you will definitely have your work cut out for you with this one.

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  2. Diane this looks like a great project. Here's hoping there won't be anything too terrible lurking in behind those panelled walls. I can't wait to see what you do with the place!!

    Cheryl @ The Creative Me and My McG

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  3. Congratulations on your new venture Diane! It is going to look fabulous and I can't wait to see the journey with you.

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