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Jan. 24th, 2015 08:01 am![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
vicarzToday is my anniversary of going to settlement on my DC house in Columbia Heights. I am nowhere near moving in.
The new plans, splitting the units into completely different drawing sets, were submitted 12/18/14. I believe there is a 90 day ("max") delay in the city responding, though when I checked with my contractor I didn't hear back.
When the plans are approved, I'm told the main build time is only 2-3 weeks. The plan was; possibly is, to do the top 2 floors first, then move in - discover all the detail problems (they say the last 10% of the work takes half the time), all while making the basement. This might make moving in spring to early summer?
When I started I thought of spending 35-50k to make the basement a legal rental on a 610k home, plus renovate the top floors a bit. So say I thought I might spend 700k a the high end. As I saw problems and began to realize how difficult it was to do part of the work, I slipped into the plan of gutting everything - that part of the plan I do not regret in any way. Since there were really no original elements in this 100 year old house left to preserve, it was definitely worth pulling out the electric and water (a pipe burst during the teardown - imagine if I had renovated with that behind the walls?) So the budget now is in the 200-250 range, making this a 800-850 spent venture. Value when done? A sloppy flip a few doors down sold for the 800s some years ago and values appear generally up. It's hard to compare now as any house this size is often bought and flipped into 3 condos for 450-500 each.
My goal was to rent out the basement and my VA condo. I changed that goal to renting 1 bedroom (or 2) in my house and the basement, plus the condo. Now, well more later but I may not be renting out any bedrooms and one will definitely be an office; so just renting the basement and condo.
But...only if I can move in some day. Ever. /firstworldproblems
(funny, like the damage and downtime from my surgery, I have enough comparators in not as good positions that I feel guilty lamenting about my problems)
The new plans, splitting the units into completely different drawing sets, were submitted 12/18/14. I believe there is a 90 day ("max") delay in the city responding, though when I checked with my contractor I didn't hear back.
When the plans are approved, I'm told the main build time is only 2-3 weeks. The plan was; possibly is, to do the top 2 floors first, then move in - discover all the detail problems (they say the last 10% of the work takes half the time), all while making the basement. This might make moving in spring to early summer?
When I started I thought of spending 35-50k to make the basement a legal rental on a 610k home, plus renovate the top floors a bit. So say I thought I might spend 700k a the high end. As I saw problems and began to realize how difficult it was to do part of the work, I slipped into the plan of gutting everything - that part of the plan I do not regret in any way. Since there were really no original elements in this 100 year old house left to preserve, it was definitely worth pulling out the electric and water (a pipe burst during the teardown - imagine if I had renovated with that behind the walls?) So the budget now is in the 200-250 range, making this a 800-850 spent venture. Value when done? A sloppy flip a few doors down sold for the 800s some years ago and values appear generally up. It's hard to compare now as any house this size is often bought and flipped into 3 condos for 450-500 each.
My goal was to rent out the basement and my VA condo. I changed that goal to renting 1 bedroom (or 2) in my house and the basement, plus the condo. Now, well more later but I may not be renting out any bedrooms and one will definitely be an office; so just renting the basement and condo.
But...only if I can move in some day. Ever. /firstworldproblems
(funny, like the damage and downtime from my surgery, I have enough comparators in not as good positions that I feel guilty lamenting about my problems)
