Now available!!
Our latest design project hits the market today!
Happy weekend y'all! Are you in the market for a home? Don't blink because this one's going to move. We just finished a project for a client in a centrally located townhome in the gorgeous Waters edge community…. 5 minutes from Target? Yes please.
This home is absolutely beautiful. Everything has been completely renovated and is TurnKey ready for its new owner. The home includes two large bedrooms with adjoining bathrooms (and extra half bath!) including Master ensuite with office area. Granite counters in the kitchen and glass tile subway backsplash, bar seating with custom molding, stainless appliances, and walk out back deck. Enjoy your beautiful newly tiled gas fireplace and then escape to your whirlpool tub. Closets include custom built-ins for storage and more. This home literally has everything ready to go and had great attention to detail in the design process. All this for an asking price of $160,000.
This home is hitting the market today and is already accepting showings. There will be an open house tomorrow on Saturday May 8th, form 11 am until 2pm. 342 Bahama Loop, Fayetteville.
Send me a message if you need more details and I will get them to you! Hope you enjoy the home tour!
Casey and crew
PREP YOUR HOME FOR SALE DURING COVID - Guest Post
Hello Friends!
Welcome to 2021 - A Seller’s Market! Finally!
Home prices are rising as supply is limited, interest rates are low, building materials are backordered and inflated, and people are restless from staying home! That means it’s a great time to sell….but it also means more people touring your home and more difficulty mitigating the risks for Covid-19. If you are retirement age and looking to move on to your next stage in life, the risk is higher.
Fortunately, Bob Shannon from Seniorsmeet.org, is here to help guide you through selling your home during this hot market, but also provides us with great resources to help prep your home during a pandemic. He also shares market-ready ideas to ensure you get a top offer. Read on for great tips for a great selling experience!
A Quick How-To Guide for Prepping Your Home for Sale
If retirement means a smaller home or moving to a new locale this year, the time will come to put your home on the market. These days, selling a home is more involved than it used to be. And when it comes to attracting potential buyers, you need a plan, one that helps them imagine living happy, healthy lives in your home.
Preparing your home for sale means setting buyers up to have such a pleasurable experience inside and out that they leave feeling like your home is already theirs. If you aren't sure how to go about the process while dealing with the COVID-19 outbreak, then these tips and advice can be a great way to start.
Prepare for Pandemic-Related Challenges
The landscape of selling a home has significantly changed the entire process from start to finish.
How to Sell Your House When There's a Pandemic
Virtual Tours Become the New Norm in Selling Homes
Transaction Guidance During COVID-19
Contactless Buying: Closing Real Estate Deals Remotely
Clean and Declutter
Clearing out your home, staging it and keeping it clean are crucial parts of this process even if you won’t be having in-person showings.
Free Yourself From Clutter | A Simple Guide
Work with Haymount Homes Staging Services
How to Maintain a Clean, Healthy Home During COVID-19
Why You Should Hire a Professional Cleaning Service When You Move
Boost Curb Appeal
Even though people aren’t attending showings or touring homes, they will still drive by, and you’ll want to make a great first impression.
Increase Your Curb Appeal and Get a High Return on Investment
8 Easy Yard Care Tips to Help Sell Your Home
Top 32 Best Curb Appeal Ideas for Every Budget
Outdoor Living Spaces on a Budget
Find Upgrades with Great ROI
If you’re in a position to make updates or upgrades prior to listing, see what people are looking for and discuss options with your real estate agent.
7 Kitchen Trends That Will Takeover in 2021, According to Designers
How a Bathroom Remodel Can Increase Your Home Value
40 Decorating Tips for Anyone on a Shoestring Budget
Use Kohl’s or Macy’s Coupons to Save on Home Decor
Selling your home in retirement can be an exciting adventure, but it’s one that no one wants to last too long. Prepping your home for sale, from remodeling kitchens to landscaping your gardens, is your best chance of standing out in a busy market.
If you’re not keen to sell your home, consider turning it into a rental so you can generate income you can put toward a new home or vacation spot. Haymount Homes can teach you how to be your own property manager, and help guide you toward offering a beautiful rental.
Retire Big For A Simple Life
RETIRE BIG for a SIMPLE LIFE - Guest Post
Hello Friends!
We at Haymount Homes know the value of loving your home - especially through all the seasons of life - your first home and your first child through empty nesting and retirement. The love of home and family can often make it difficult to leave your home in the popular trend of downsizing for retirement. Whether it be that you want to stay in your beloved family home, or if you want to even enlarge your home to welcome the expanding network of family growth through marriage and grandchildren, not all retirement plans include downsizing.
My parents have stayed on our family farm as our family has expanded to include seven children, their spouses and a wealth of 24 grandchildren. They value their farm life and the ability to stay in our family home. Bob at Seniorsmeet.org, contacted us about helping our readers understand the difference in retiring big versus the traditional downsizing discussion. He offered to help outline some of the considerations if you choose to go this route.
Thank you to Bob and happy reading!
Casey and Crew
Retire Big For A Simple Life
If your retirement goals are to bring your family together, purchasing a bigger home and a piece of land may be a smart choice. It will allow you to pursue passions, such as gardening or woodworking, that you may not be able to in a small home. This is especially true if you currently live in the city. Keep reading for a few tips on how to make your move and enjoy your retirement to the fullest.
Prepare
Your first goal is to get your current home ready for the market. Haymount Homes can help you stage each room so that it’s more compelling to potential buyers. This will give you an edge when it’s time to put a for sale sign in the yard. You’ll also want to take a look at your income and other assets so that you can determine a budget for your next endeavor. Your net profits from the home sale will play a significant role in this, so the more you can do to increase its value now, the better.
Budget
Once you have an idea of what you can afford, you’ll need to dive deeper into your personal finances to make sure that you can afford the upkeep. Keep in mind that a homestead-type property will likely cost more to maintain and operate than a small home in the suburbs. A few expenses you may not have considered in your original budget include:
Farming equipment. If you plan to farm, a small tractor can cost up to $11,000, brand new.
Home repairs. A bigger home means more things to maintain and fix. Repairing a broken window can cost upwards of $375, a hot water heater $1,100, and a new exterior door $200 or more, for instance.
Land maintenance. Maintaining your property requires mowing, mending fences, and fixing other issues, such as loose bricks in the walkway. Depending on how much land you have, you may also wind up spending $375 or more per acre to have someone come in and cut hay.
Finding A Home
When you are ready to begin your home search, look for an experienced realtor from the local area. They will be able to give you greater insight into different locations you may be considering. One thing they can help with is determining where to get the biggest bang for your retirement buck.
As you get closer to making an offer on a home, partner with a home inspector. This can cost you $500 or more, but it can save you thousands of dollars worth of home repairs down the line. Inspect-All Services explains that having a professional on-site to inspect the property will help ensure that your potential future home is safe and livable. If you’ve made an offer already, having a home inspection will give you one last opportunity to reconsider if you find damage or problems that you had not anticipated.
Safety
When you move, it’s easy to get excited. In all the hustle and bustle, one thing you don’t want to do is forget about safety. This starts when you’re packing your current home. Start by removing excess clutter, and as you pack, make sure boxes weigh no more than one person can handle alone.
Moving into your new home, make a mental note of the differences that you’ll have to get used to. You might, for example, have to learn about gardening or wildlife safety. The more you know now, the better off you’ll be when it’s time to get your hands dirty and create an estate for your entire family to enjoy for many generations to come.
If it’s time to retire, go big and go home. Now that you no longer have the 9-to-5 grind, you can spend your hours with the people you love the most, doing what you love. Moving into a bigger home with a yard for the grandkids is a great way to enjoy your best years. But make sure to budget and keep yourself safe in the process.
Haymount Homes believes that every home deserves TLC. If you need help in staging and designing a home, contact Haymount Homes for a design consultation.
GREENLAND DRIVE - BEFORE AND AFTER
See the amazing before and after pictures of our newest rental home - Greenland Drive!
We hope you enjoyed the Greenland drive home tour. As mentioned, it was a labor of love for many people involved in the project. If you are anything like us, you love the see the before pictures to help give perspective on what has been achieved.
We are not the best at remembering to take a lot of before pictures, so we need to improve on this. However, we will give you what we have so you can see how far our Greenland home came. It had been neglected for quite some time and we are so happy it has been restored to a home you can love!
Without more chat, here are some before and after photos for you!!
As you can see, Greenland has come a loooooong way! From rotted flooring to unlevel fireplaces, from wild and uncontrolled yards and trees to long past their prime roof and windows, it has been nothing short of a job. With each part of its renovation, a little more of the home’s personality came through. It was almost as if it wanted to be loved.
“Everything has its beauty, but not everyone sees it.”
It is so much fun to restore beauty to our neighborhood and haymount continues to give back to all of us. Thanks for looking at this before and after photos. We hope you they inspire you to create beauty around you!
-Casey
AVAILABLE SOON - GLENVILLE AVE!
Available soon - our Glenville Ave Haymount Homes
We are excited to announce that our newly renovated Glenville Ave Home is going to be available March 30th. If you have been silently stalking our Haymount Homes collection, now is the time to act (you know who you are :) We are sad to see our current clients go, but the military has its ways of changing plans on all of us! We wish them nothing but the very best!
Glenville Ave is sure to be your new favorite spot. With renovations just completed, this darling home boasts subway tile, gas cooking, hardwood floors and more. You can see even more details here. New appliances, energy efficient windows and roof, and custom designs throughout. Love shiplap? Us too - you'll get plenty of it! Featuring two bedrooms, and a full bath, full back yard, attic storage, a workshop, and additional storage building. With lawn care included, off street parking and top rated Terry Sanford Schools, you will be easily situated in convience. A quick walk to Terry Sanford High School or Fayetteville Tech. Centrally located and only 10 minutes from post. Don't pass up this rare opportunity to enjoy classic charm with fully updated style!
“Coming home is one of the most beautiful things. ”
- Casey
GLENVILLE RENOVATIONS - THE KITCHEN
How to maximize the space of your galley kitchen
Welcome to the kitchen renovation for Glenville!
This kitchen was a pretty big mess. We had a fuse box from 1941 complete with cylindrical circuits that I had never seen before, a water heater in the corner (typical of this era of home to have the water heater in the kitchen because it is next to the plumbing), and plenty of outdated everything. This kitchen lacked appliances and the layout was awkward. The floor doesn’t look that bad in the photos, but it was sheet vinyl and it had holes throughout. Long story short, this kitchen needed help!
We also wanted to work to optimize the space, so we decided to move this layout to a galley style kitchen. Sometimes galley kitchens can feel tight, so we made decisions that would help reduce that feeling and still make the kitchen functional. More on that throughout the post.
The nuts and bolts to work on:
Trim and Wall Repair
Floor Replacement
Cabinets and Countertops
Door Fixing
Removal of debris
Appliances
Relocation of the Water Heater (it was in the kitchen - we moved it to open up space in the kitchen for cabinets; this is typical of the 1940’s homes)
Replaced all windows
Replaced sheet vinyl flooring in the laundry room with luxury vinyl tile
Ceiling repair and paint
Light Fixture replacement
New sink and faucet
Relocation of the sink for improved layout
Addition of a dishwasher
Gas conversion
Wiring Update and removal of outdated panel box
Paint, paint, and paint!
The final product was clean and simple. We used Sherwin Williams Extra White in eggshell which is one of my favorite crisp whites . It is pretty neutral white and doesn’t read as warm yellow or too cool. Also, it looked good against the subway tile from Home Depot. The trim is nearly Sherwin Williams Extra White in a semi-gloss. The kitchen flooring is by Shaw Matrix in Franklin Hickory.
There are a lot of repair work that had to happen first, as well as plenty of problems to solve. Once we got things removed it became a game of how to repair all the different holes in the wall. Our contractor had to get pretty creative with some of the repairs as old plaster walls are not as easy to work with as sheetrock!
We debated doing a wall of subway tile as the backsplash, simply because we love the vintage look of that. However, we had already done so much tile in the bathroom, we felt that it might be time to add some visual and textural interest in the kitchen. Thus, we went with the shiplap and subway tile combination; we think that the end result was great. We chose Charcoal grout to really accentuate the subway tile and provide contrast to the shiplap. The shiplap was painted in Sherwin Williams Extra White and we used Primed Pine Nickel Gap Ship Lap Board from Home Depot. The subway tile we chose was also from Home Depot and it was by Daltile in Finesse Bright White.
The photo tour that follows does pretty much walk you through the process. If you have questions about anything specific, please ask!
The new flooring has gone in and the sink and base cabinet were removed. That exposed a giant hole in the wall!
Once the backer board was removed from the other wall, we had a wall with scattered holes throughout! Surprise lol :(
An ancient fuse box was present and had to be shut off and removed.
Walls repaired and cabinets arrived!
Granite counters for beauty, texture, and durability.
We ended up subway tiling to the floor simply because the finished product looks better and is more durable. This does cost more but the quality in the final product is worth the additional cost in our opinion.
To optimize space in a galley kitchen, we chose a counter depth refrigerator. Again, this typically does increase the cost of the appliance, but the end result is more floor space to work with and a more seamless presentation for the kitchen. In our opinion, money well spent.
The vent hood was a lovely addition to this kitchen. It brought it up a notch and also helped break up the shiplap wall behind it. Our electrician was pleased with the ease of install and it had a self venting option, meaning you did not have to vent it to the attic and out of the house. That is a win for time and money.
We chose the 30 in. Convertible Wall Mount Range Hood in Stainless Steel with Aluminum Mesh Filters LED lights, Push Button Control and the self venting filters: Range Hood Carbon/Charcoal Filters for Ductless/Ventless Recirculating Installation and Replacement
Another way we improved the functionality of the space is that we added overhang to the countertop granite. Giving the counter an extra 1.5” inch of space off the cabinet, gives just a bit more counter space in an already tight galley kitchen. Even better, it did not cost anything extra since you already buy the granite for the square footage of the project. It is a marginal change and doesn’t increase the cost.
This kitchen is small, and that allowed us additional savings on the granite. We were able to choose a remnant piece of stone since we did not have a great deal of counter space. This saved us on the cost per square foot. Finally, we also paid in cash, which gave us an additional discount. All we did was ask if they could discount it further for cash, and they were able to because it saved them the credit card processing fees. In a renovation, any little savings helps!
Speaking of savings, let’s talk hardware. We have found Amazon to be an excellent source for cabinet hardware. They offer great savings, even compared to Lowes or Home Depot. We chose Heirloom Silver Francisco Kitchen by Franklin Brass for hardware because we’d used it at the Pearl House and we loved the result.
You can find that here:
Like those open shelves? We did too. Another space saving idea in a galley kitchen is open shelving. When you block in every available surface with cabinets, the end result is very tight. Choosing open shelving does cause some level of sacrifice with space, but it is usually worth pairing down what we actually do use and need in a kitchen to have the space feel better. While you can fashion your own pipe brackets and have pieces cut at the store to save you some money over a premade it, the savings were very small and the additional time invested simply was not worth it. We recommend the kit as time is money! They even have different length pipe available.
You can find the shelf brackets here:
We used poplar wood to create the shelves and the brackets were another find on Amazon. They did not arrive with a protective coating and our contractor insisted we coat them to protect them from rust, as they were so close to the sink. We had liked the finish they arrived in, but we agreed long term wear was more important. He won that battle!
Another great area that Amazon can help is with fixture purchases. The faucet and sink were both Amazon purchases. It is a little risky to buy something without personally seeing it, but sometimes the payoff is worth it. The first faucet we bought, however, did not work and had to be returned. That was not a fun delay and our plumber was less than thrilled after installing a dud. The next one ended up being even better and the sink was amazing!
You can find the faucet here:
You can also find the sink here:
We chose simple lighting for the kitchen as there was a lot going on in a small space. This caged flush mount was a great little piece and is available at Lowes. You can find it here: allen + roth 8.4-in W Antique Nickel Metal Semi-Flush Mount Light
All in all, we think the kitchen turned out great! We love the functionality of it and the fact that we were able to optimize the space for a galley kitchen. We’d love to hear your thoughts. What did we get right? What should we have done instead?
Thanks for looking! More renovations to come!
Casey
GLENVILLE RENOVATIONS - LIVING ROOM AND LAUNDRY
Before and after photos of the living room and laundry room
So with the approaching hurricane, I am looking for a distraction. I figured I would start highlighting some of the renovation before and after photos from our Glenville Ave Project. I never did complete that with Hull Rd (our last project), and I had regretted it. I did not want to make that mistake again!
We had a lot to work on with Glenville. The house was built in 1941 and had gone through minimal updates. We began with the living room and laundry. There was a lot to do including:
Trim and Wall Repair
Floor Refinshing
Bookcase repair
Door Fixing
Removal of debris
Fireplace insert removal
Relocation of the Water Heater (it was in the kitchen - we moved it to open up space in the kitchen for cabinets; this is typical of the 1940’s homes)
Replaced all windows
Replaced sheet vinyl flooring in the laundry room with luxury vinyl tile
Ceiling repair and paint
Paint, paint, and paint!
The final product was clean and simple. We used Sherwin Williams Agreeable Gray in eggshell which is one of my favorite greiges/grays . it has enough warmth in it to be cozy, but not so much that it turns something beige. The trim is nearly Sherwin Williams Extra White in a semi-gloss. The laundry room flooring is by Shaw Matrix in Franklin Hickory.
I will talk about the floor staining in another post, so for now, enjoy the befores and afters!
I hope you enjoyed the before and afters of the living room! Stay tuned for the rest of the series! Stay safe during the hurricane please!
Casey
INTRODUCING GLENVILLE AVE - OUR NEWEST HAYMOUNT HOME
Welcome to the home tour of our newest Haymount Home!
We are delighted to announce the completion (or near completion anyway) of the newest Haymount Home: Glenville Ave. This 1941 beauty features 2 bedrooms and 1 one bathroom and is on a wonderful street in the heart of Haymount.
This project was a shotgun renovation, featuring top to bottom renovations throughout, and it was completed in less than 8 weeks. We discovered this home and realized that it needed to be brought back to its full potential and could not wait to get moving on making it shine!
Please enjoy this home tour. Forgive the fact that everything was not perfectly cleaned up (floors still need cleaning and there are a few little things missing like the smoke detectors that are not in and a few missing outlet covers :) They will be finalized this week. There is also a shed that is still under construction and will be renovated as well. Our focus was on the house for now. Don't worry - over the next few weeks we will be featuring a bunch of blog posts with before and after photos for your enjoyment.
Normally we stage all our homes to highlight their beautiful potential, but we were not able to do that for Glenville....because we already have clients moving in! They contacted us prior to finishing the renovations and fell in love with Glenville. We could not turn them away and they promised to decorate it beautifully and let us come back for pictures; we are excited to see how they make it their home!
We welcome your feedback on Glenville. Please drop us a line and let us know your thoughts. What did we get right? What did we miss? Though Glenville was rented before it even hit the market, there is good news in store: we start our next project at the end of the month, so stay tuned!
“House + Love = HOME”
Hope you enjoyed our tour! Drop me a line and let me know what you think! Have a great week!
- Casey and Carl
CHOOSING HOMEOWNERS AND RENTERS INSURANCE
A guide to identifying which insurance company best suites your needs by Reviews.com
Hey ya'll! Summer is setting in and the heat is going strong. I hope you are all enjoying a less hectic schedule and a little time away from the busy school year.
We are in the process of trying to secure our next Haymount Home, and I have been busy organizing all the paperwork and finances that are required for such things. In doing so, I recently reviewed a lot of our accounts, including the dreaded: INSURANCE binders.
Boy, we love to hate on insurance, don't we? It is a necessary thing, but we all tend to gripe about figuring it all out. This is not without reason. The bottom line is that the polices are extensive, the conditions are specific, and the cost is expensive. We don't want to cheapen out and have lousy coverage, but we also don't want to spend and arm and a leg for things we won't (at least we hope!) need.
Thus, we research, we ask our friends, we call companies, we read....all in an effort of making a good choice that we can afford. As a homeowner, we have to have each of our homes insured against damage and possible loss on the home. As a rental company, we require all of our clients to obtain renter's insurance to protect the loss of their belongings.
My friend, Jonathan Gardner, at Reviews.com, recently completed a wonderful review and guide to choosing homeowners' insurance.
https://www.reviews.com/homeowners-insurance/
Jonathan and his team combed through the details of nine of the top insurance companies to help identify the right combination for your circumstances. They look at several aspects of the company from financial strength to customer service. They also offer several guides on other homeowner topics, such as choosing a security system, best moving companies, and even best rental insurance companies.
Full disclosure, we use USAA for all our insurance needs. USAA is not available to everyone, however, so Reviews.com is a nice source for people that might not have USAA for an option. USAA is not the least expensive option for insurance, but their coverage is complete and their customer service is consistently rated in the top tier for their industry. Because we have had excellent service in the past, we continue to use them for our policies.
I hope these guides help simplify your search for good insurance. At a minimum, they should help direct you on areas to consider when choosing an insurance policy. Jonathan and his team have done a great job and it is my pleasure to share their work with you!
“The most important investment you can make is in yourself.”
I hope to have updates on a new Haymount Home Soon! Until then, happy insurance shopping!
- Casey
DUE DILIGENCE PERIOD - WHAT TO LOOK FOR
How to conduct your own mini-inspection to make sure you've got a home worth dealing with
Hey everyone! We are in the due diligence period on our new rental home on Greenland Dr. I realized today that some of you might benefit from a breakdown on how we go about this process and what it even means, so allow me to explain. Also, I wanted to update you that I will start using #HAYMOUNTHOMESGREENLAND for those of you that want to follow the updates on social media.
Have you ever bought a home? If you have, you know that it can be overwhelming because there are so many things to look when trying to determine if you have made a safe investment. You have a lot of moving parts during this process including but not limited to: two realtors, the sellers, lawyers, loan officers, inspectors, appraisers and more. There can be a lot of companies or groups involved, including home owners associations, managers, utilities, county tax offices and more. Seeing that list can be enough to make you decide to rent forever!
WHAT IS DUE DILIGENCE?
Because things can get a bit complicated with all those people involved, typically written into a contract is a due diligence period. The due diligence period is a protected time designed to allow you the chance to inspect the home and determine that you do indeed want to proceed with the contract for the home you are purchasing. During this time, you can decide to pull out of the contract if you find out something more major is wrong with the home.
Let's give you an example. Pretend you have found your dream home and have signed a contract for purchase. You receive an inspection report and it identifies that the home will need an entirely new foundation. You receive the estimate for the repair and it will be $40,000. Yikes. You might decide to change your offer price or you might decide to move on to a different house. You have inspected the home (and done your due diligence) and have determined that this home is not for you.
If you have a great realtor, he or she will likely guide you through the process of due diligence. That stated, this post can serve as a guideline for anyone looking to purchase a home. This is how I go about looking at things on a potential rental home. Disclaimer: I am not a home inspector, nor are my contractors. I don't recommend you skip the inspection if you want a more complete picture of your home). Sometimes it takes a bit of time for an inspection to happen and I get antsy....so this guide is intended to be used as an overview of what to look for while you wait.
DUE DILIGENCE CHECKLIST
When looking at a home, I don't get too bogged down in the smaller details of a home. I know that much of that can add up, but I know that a lot of small things will likely be addressed as we remodel. This is especially true of property in a rough condition. I will just add additional money into my figure planning to cover several minor things (ie, floor treads, replace and outlet, change a light fixture, etc). What I am looking for during due diligence are the "big guns" that are going to really change the matrix of my situation - aka, a deal breaker.
CRAWLSPACE
Ready to get down and dirty? It's time. With my contractor, I inspect the outside of home home, looking for cracks, instability, and any signs of decreased function. Then I get my trusted 'nasty clothes' on and head under the house. So far, I have not encountered any creatures or dead bodies under houses (though I will admit, I wonder every time...) I get under there and he points out anything of concern. I see the trusses, the floors, the support, any areas of improvement or water damage, or any signs of termites. I look for mold, moisture or entry points that are open. While we are there, we consider the electrical, plumbing and insulation under the house. I am not an expert, which is why I rely on my contractors (who I love!!). I go with them under the house so I can visualize what really needs to happen. If you want to understand, you need to see. If there is any suspected mold, I call my water mitigation people for testing. If there is any question of termite damage, I call my pest people for their opinion.
HEATING AND AIR "HVAC" unit
Here is another area for an expert. I call in my HVAC guy in an have him inspect the unit. We test the functionality and note the age of the unit. Most units can be considered "good" for 15 years, "might consider planning replacement" at 15-20 years. After that point, you are lucky to have it going but better be sure that you plan for an upcoming replacement soon. I also have him look at duct work and any additional venting that I might have to change in the house.
ELECTRICAL
I look at the electrical panel. If that has been updated, you'll know that you are at least in decent shape. If anything in your plan is considering space addition or renovation, you might need to adjust the panel size and that can cost a bit of money. Additionally, I find that the panels are often in less than desirable locations. Sometimes I am considering moving them or flipping them to a new wall to make my renovations. I want to be sure that can be done, and at what cost.
FIREPLACE
Look for damage and functionality. Has it been cared for? Is it safe?
ROOF
Don't miss this. You'll want to have a roofer estimate the age of the roof and condition. Fortunately, my contractor also does roofs, so he is easily available. Flat shingles have about a 20 year life, architectural shingles about 30, metal Roofs about 50, and asbestos roofs can last 80 years. You'll want to see what you might be getting into with the roof as far as any repairs or replacements.
WINDOWS
These can be costly. Look at the seals, seams and any frame damage that might have been caused by water entry. If they are painted shut, old or dysfunctional, you might need to consider replacement. This can get pricey. Know what you are in for.
SIDING
Check condition and type. Look for damaged sections that might need repair. Look for any wood rot as well.
PLUMBING
Check that the water works, toilets flush, fixtures turn on and off. Simple, but easy. If you see a back up, you might want to investigate that. I simply call my plumber and have him go after it and let me know what the issues might be. In older homes, I am often relocating things like washers or hot water heaters. That is the time to ask the plumber about my plans to make sure they are feasible.
LANDSCAPE/OUTDOOR
Don't overlook this. Cracked patios, broken steps, decks, walkways, pools, garages, sheds and other buildings can rather quickly add up in additional costs. Note any issues you see and be sure you don't have any huge corrections to make. Also note any yard maintenance issues that might need to be addressed. Additionally, you will need to look at the trees - do they hit the house? Do they need trimming? Are any of them at risk for being too close to the house? Take a good inventory of what needs to be done.
ASSESSMENT OF FINDINGS
Now it is time to look at everything and determine if the amount of repair or changes to the property that you have in mind is going to fit in your budget and keep the home in the end price range that you anticipated. If the repair list is very long, you might consider asking the sellers to make repairs - or adjust the asking price. If it isn't too high or you are getting the house at a good deal, you are doing well. If the house is sold 'as-is', that means there are no repairs by the seller and you'll be stuck with all of them!
HOW DOES OUR NEW GREENLAND HOME STACK UP?
Great question. We are ending our due diligence period soon. Here are some things that I have called in my "people" for and this is the plan:
1. CRAWLSPACE: Floors have settled which is not uncommon in the historic homes and in the south's sandy and clay based soil. I wanted to be sure that things were not unstable underneath the house. Fortunately, we are in luck. There has already been work underneath the house to reinforce the issue. Perfect. Some of the floors will need repair on the inside of the home, but that is better than all the joists and foundation under the house too!
2. HVAC: HVAC system is 30 years old and somehow STILL working. It's good...for now anyway, but we know a new one is on the horizon. Might have to move a few floor duct vents. No biggie.
3. ELECTRICAL: Kitchen needs a new layout and possibly need to move an electrical panel. I am going to created a laundry area and that will also move the water heater and washing machine. My contractor, plumber, and electrician are all on board for changes.
4. FIREPLACE: Fireplace has a lot of settling, but is stable. I don't think it is safe for use - still need to find that out, but we usually don't allow them to be used in our leases due to safety.
5. ROOF: We will replace the roof. Too many small areas need repair. The roof is not that big on this 1000 square foot house, so we might as well replace it all.
6. WINDOWS: It's time for new windows. The original windows are lead weight windows, which are harder to remove. This will be a J.O.B. Sorry contractors :(
7. SIDING: Good condition with minor issues. We'll probably leave it alone but make sure it gets a REALLY good bath! Some areas of damage will need to be replaced.
8. PLUMBING: Ours sound for the most part, some newer updates, some are older, so we might need to make a few changes here and there. The bathroom is a gut job. The floor has water damage, but fortunately the joists below are still solid (THANK YOU OLD WOOD!!!) and there doesn't appear to be any mold growth or anything.
9. EXTERIOR: Still awaiting an estimate from my tree guy about trimming several trees and removing some dead trees. This won't be anything too intense. Mostly, just clean up here!
“Diligence is the mother of good fortune”
We are moving forward with our new home and will continue to plan on closing in a week. There are repairs to make, but we knew that when making our offer.
What do you think? Have you ever had to pull out of a home purchase during the due diligence period? What was your deal breaker? I'd love to know!
- Casey
OUR NEW PROJECT
We are under contract for the next Haymount Home!
YIPPEE!! I am happy to announce that our next project is underway! We are under contract for our next Haymount Home and could not be more excited to get the ball rolling on this historic charmer. This home will be our smallest home, but we are planning to pack it full of charm and make a wonderful happy home!
There is a LOT to do with this home, so I figured I would give you all a little glimpse on my planning process at this stage in the game. We are conducting our due diligence on this home (meaning we have a week to determine if it is more than we want to handle). Once that window is complete, we are going forward with the contract. Currently, we are set to close 2/1/18.
The rehab work on this little gem is going to be slow and steady because we plan to save up money and pay for everything in cash as we go along. In our efforts to avoid too much debt, we figured that it'd be better to take this approach with this darling little home. Though it will take a little longer, it will be fun to have the time to really think through the decisions and try to optimize this home for it's next occupant.
During this time period of due diligence, I usually do several things to determine what potential work is required for a home. I figured illustrating my thought process might be helpful to someone in the same situation or looking to get into the rental market. However, my brain tends to go all over the place, so just strap-in and take the ride! One disclaimer: Pictures are deceptive. Although adorable, this little home home needs quite a bit of help. The pictures don't fully illustrate that. Once we have the home closed, I will be going through to take more detailed photographs for our projects and repairs needed. For now, you'll have to trust me on these things!
Let's begin.
EXTERIOR
Siding - Pretty good shape. A couple of holes (repairable I hope)
Roof - Time for a new one
Front Porch - some rot - will either repair or replace
Front Porch Trim - damaged - needs replacing
Screen Door - rough. either will clean up or it will get a new one
Front Door - hoping to preserve this with paint
Windows - yikes. Old and charming with pulley systems still in place. Super cool, but not that efficient and difficult to operate overall. Poor painting in the past. We'll see. Either clean them up well and see what we have left, or replace.
Shutters - probably will paint. If need be, we'll replace.
Mailbox - Missing - needs one!
Porch Light - functional, so that will probably stay
Foundation - so far so good, but there are some soft spots inside the home, so I question some of the joists below. I am going under the house on Sunday to inspect everything with a contractor friend.
Backyard is awesome - private and cute - needs some clean up (cannot really see from this photo)
Back Door - Jam is rotting out. Will probably just replace the whole thing. This house is on a hill and water likely heads that way. We are going to have to consider some options for controlling that issue.
Rear Door Light - ugly and needs a new one
LIVING ROOM
Check out those hardwoods! They are lovely however someone did a really bad patch on the side of the room. I will photograph it later, but I am going to see if magic can happen and they can be repaired...then the entire house is desperately in need of refinishing. I wonder what stain we should go with??
Replace Shoe Molding - for some reason, it was removed in this room. Needs to go back!!
Fireplace - no clue if it works. It is also sunken a bit on the right. Not sure it is still sinking, but need to find out. Back to under the house. Either way, it is still charming.
How about that awesome window trim? Love the thickness and detail. probably will loose the window cornices though.
Walls all need some addressing. Ceilings need some crack repair. Work.....
KITCHEN
Yikes. Lots to do here. This is just one side of it. There is actually quite a bit of space for such a small home. Normally you find a lot of galley kitchens in homes like these, so I am excited to have a little room for play here.
Flooring - going to be getting new flooring (unless the budget gets too tight)
Cabinets - replace. We need to add more and these have seen their time. Time to go.
Sink - double stainless steel. Will likely keep unless I find a great deal on something amazing!
Faucet - old and boring. Could work but I would like a better one.
Appliances - time to replace. They are actually nice functionally, but they are unattractive and I would like better ones. Unless something gets crazy on the budget, I plan to replace.
Walls and Ceiling need some work.
This is going to add up in this room, but I cannot wait to see it happen!
DINING ROOM
Floors - again, refinish
Wall and Ceiling repair
Definitely a new light fixture (something beautiful needs to happen here - it will be gorgeous then!)
Loose the window cornices
BEDROOM ONE
Refinish Floors
Repair walls/ceilings
Clean up the closet
New Light fixture or Ceiling Fan
BEDROOM TWO
Same thing, clean it all up by doing the floors, cleaning up the closet, fix walls and ceiling, and then get a new light fixture or fan
BATHROOM
This has to be great for a one bathroom house to work well for anyone. This one is going to be a bit pricey with all the needed work.
Tub - lovely original porcelain tub. Might need a reglaze, but mostly it looks like it needs its own deep cleaning bath first. We'll see. It stays for sure.
Tub surround - this is less appealing. If the budge allows for all new tile in the bathroom (walls and tub included), then I will go for it. We'll have to see what the money looks like. At a minimum, some things need repair.
Vanity - functional, not that old. Might be repainted, but ideally, I will replace this. I love pedestal sinks for beauty, but they do lack storage. We'll see.
Toilet - seems okay, but house is winterized so there is no plumbing to check. It's not ugly though! Needs to be re-grouted at the base.
Mirror - dull. We can do better.
Light - rusted. time for a new one.
Closet - small inside but there - yay storage! Needs repainting.
Floor - OH MY. Mostly rotted out. Not good - needs complete repair and replacement.
BACK PORCH
Enclosed back porch. Loving that ceiling actually. Hating the paneling (what's new?)
Lots of potential on this, but needs to be thought through. I am not sure it is wired and vented for heating and air, so I am meeting with my HVAC man on Sunday to look at options.
If we can get this space heated and cooled, I want to make it an awesome laundry and mud room. I know it has great potential, but at what cost? That is the question. The floor is a little angled away from the house to prevent water being an issue (remember the rotting door - that is at the back of this room). I am wondering if we level the floor with concrete leveler (expensive) if it would elevate the floor more and prevent water issues. Not sure. I need to discuss the options with my contractors.
This would also require re-routing water lines. I would like the water heater and the washing machine (both currently in the kitchen), to find a new home out here. That will require a new plumbing. It will also require my electrician to complete some changes too.
However, if we can finish off this space and make it "finished square footage", we will add nearly $10,000 or more to the value of the house. Not bad, but it could cost a bit in the process. We'll see.
OTHER CONSIDERATIONS
Hallway has need for floor repair and refinishing
Attic access is difficult and small. I have no clue what shape it is in. This house also lacks any storage building or garage, so my easiest place to claim the storage would be the attic. I need to install an attic pull down and stairs in the hallway.
Attic storage - going to likely have to floor part of the attic for storage and I anticipate there being almost no insulation left up there. I am just hoping it is not a disaster up there as who knows when it was last looked at.
Access to wiring. The house looks like it has been somewhat updated for wiring, but getting up to the attic will help further determine that. It will also help create the ability to adjust the wiring in the future. Clearly, we need to get into that attic!!
“Everything has beauty, but not everyone sees it.”
SHARE YOUR THOUGHTS!
Thanks for joining my home tour. What are you thoughts? Have we lost or minds or does this little home have potential to be great? Would you take on a project like this? Does the idea scare you? I would love to hear your thoughts!
I will keep you posted......
- Casey
FINDING A GREAT RENTER - PART ONE
Score a great renter by knowing what prospective home renters are looking for
Success in renting home boils down to the ability to secure wonderful rental clients. We have been blessed and amazed by the quality of people that have rented our homes. We find these great people by looking for great people. The best way to find them, is knowing what they are wanting in a home, and making sure you provide that. Renting a home is a lot less tricky when you know what your clients are looking for.
This is the first in many posts I will make regarding things we have learned in managing our rental properties (and, quite frankly, learned from having rented homes ourselves! We were very aware of what we wanted as renters too!). The list is long, so I am breaking it up over several posts, so be sure to check back for more details!
We have always had the philosophy that if we took good care of our clients, they would take good care of us and our home. The golden rule of life: do unto others as you would want done to you. It naturally makes sense that you would then look to offer qualities in your rental home that prospective clients would want. Thus, it is good to have a global understanding of things that matter to lots of prospective clients so that you can be attractive to them and hopefully gain a great renter in the process!
SAFETY
Everyone wants to be safe. According to recent market date, nearly 70% of prospective renters indicate their home safety as a top priority in their home rental decision. Safety is a basic need in life. When choosing rental properties as investments, choose homes in safe locations. Homes that have access to fire hydrants, fire stations, and law enforcement offer inherent safety measures. Neighborhoods that are well cared for with neighbors that look out for one another increase the safety of homes. Street lights and proper traffic signs, sidewalks, and crosswalks all factor in to improved safety measures. If your client asks to install a home security system, by all means let them. Provide fire extinguishers for their use, and change smoke detector batteries each time a new client moves in. Offer proper exterior lighting to ensure safety outside the home, especially at night. Inform them of community programs that are created to enhance their safety, including neighborhood watch, community briefings from law enforcement, and more. Be helpful regarding safety and what measures they can take to be safe.
ONLINE ACCESS
This is no surprise. The number one way prospective clients look for a new home is through online searching. There is no easier and more efficient way to look for homes, especially if they are making a long distance move. Showcasing your property online is essential to making sure they can save time and energy in their search, as well as discover your property. The more information you can provide them, the better. Don't limit the information to just details about the home for rent. Educate them in the community, neighborhood, schools and more. Help make their distance move easier by answering any questions they might have. If you want to go a step further, offer them the opportunity to transact online. If you can have electronic delivery of your rental documents, your forms, rental payments, and maintenance requests, that is even better. Renting is moving to an online platform and you'll want to be a part of it for maximal success.
GOOD REPUTATION AND EXCELLENT COMMUNICATION
You need to be an excellent communicator to have excellent clients. Try to respond to each request from a prospective client (and current renter) within one day. I personally strive to respond within an hour if the request is made before 9 PM or after 7 AM. Have you ever rented a home? It is frustrating to have issues arise and to have to wait for them to be dealt with. Even if you cannot solve the problem in that first contact point, acknowledging that you have received the problem is enough to help with your client's piece of mind. Have you ever been searching for a rental home? When you made inquiries about properties, you likely were more interested in the properties that had managers that responded more quickly. Your response rate is an indicator of priority. If you respond quickly, you indicate that need is a priority and therefore your client is a top priority. Personally, I am so thankful when our clients let me know there is an issue so that I can care for them AND care for our home. I also love getting inquiries about our properties for rent. It is my chance to educate them on the many offerings of the Haymount community.
The shift to the dominance in online rental home research has also led to more people wanting reviews or testimonials about their prospective rental home. Prospective clients want information on previous or current clients' rental experience. This is not only in regard to the rental home itself, but it means how their experience renting from YOU or your company was. Prospective clients not only want a beautiful home, but they want to be assured they will be taken care of too. As a former renter, I expected the same, and it is important to take care of your clients efficiently and with integrity. If you can, offer these reviews to prospective clients. They will be happy you did.
“Earn your success based on service to others, not at the expense of others.”
The bottom line is, the better you are at offering what renters are looking for, the better your response from prospective clients will be. Your goal is to engage quality individuals that will value a quality home and rental experience. In order to do that, you need to provide that quality to them. This is just the beginning of the list, but it is a good place to start.
Are you renting your home for the first time? Are you nervous about securing quality renters? Have you had a good experience as a renter? What made it good for you? I'd love to hear from you!
- Casey
5 Reasons to Rent Out Your Home
When renting your home is smarter than selling it - obscure reasons why renting makes sense.
Winter is here. Spring is coming. I sound like a Game of Thrones ad!
Seasons matter. I love them all for various reasons - I love the freedom of summer, the crisp scents of fall, the cozy nights of winter, and the HOUSING MARKET in the spring.
Okay, I also love the promise of new beginnings, budding flowers, and extra sunshine that spring brings. However, I have to admit that I love the fun of house hunting in the spring.
Even if I am not moving or buying a house, I am always 'house hunting'. I love doing market research and seeing what is for sale, what has or has not sold, and what is hitting the market. This used to be an "inexpensive" way to window shop; I wasn't able to just "buy a house" with a click of the mouse. However, since we started renting homes, it has become a bit more risky because I tend to fall in love with homes and now have a business that supports buying them!
With every spring comes change. People often move jobs and locations along the timeline of school seasons and semesters, so that means people start to offer their homes for sale in the spring in anticipation of moving in the summer. Therefore, the housing market is most active in the spring and houses tend to sell most easily during this time period.
Most people consider selling their home as their biggest obstacle in the their move, and that is for good reason. It is a lot of work, time, and effort to sell your home. There is a lot of mental and financial stress that goes along with all of that as well. Obviously, there are lots of reasons to sell your home when you move, but some times, people overlook a great opportunity when they are moving. That opportunity is a chance to rent out your current home.
The reasons to rent your home go far beyond this list and I will take the time to cover them in additional posts, but I wanted to share a few reasons that are often not even understood or known by the general public when it comes to renting your home. There are some advantages that you might not have considered beyond the obvious ones that you probably have considered. You can also create an opposing list of reasons to NOT rent your home. That is also true. However, that same thing can be said for any type of situation that has benefits and risks.
So let's get down to it. Here are five lesser known reasons to consider renting out your current home rather than selling it. I hope you find this fun and a nice tool in considering whether or not to rent your home!
YOUR LOAN INTEREST RATE IS LIKELY BETTER
Interest rates on loans for primary residences are almost always cheaper than interest rates on investment loans. This means that you can rent your home with less cost than if you were to invest in a different home to rent. Using an example, let's say your primary home mortgage is $250,000 and your interest rate is 3.50% at 30 years. That makes your monthly mortgage payment $1123/month. If you were to purchase this same home as a rental investment (aka, in addition to your primary residence), you would likely have a loan that was structured more like $250,000 at 4.75% for 30 years. This would make your payment $1304/month for the same house. That is already a difference of $181/month in cash flow and you have not had to do anything different. That amounts to $2172/year. Not bad.
YOU ALREADY HAVE THE HOME
Securing financing for a rental home is time consuming. Remember when you had to secure the loan to buy your home? It's a pain, right? Well, escalate that pain up a notch when you are buying an investment property. There is even more paperwork, time and particulars involved, making the process fairly time consuming and more difficult. If you already secured financing for your home (or even own your home outright), there is very little you need to do to change it to a rental home.
YOU WILL LIKELY PAY LESS FOR INSURANCE
When you convert your primary home into a rental home, you change your homeowner's insurance policy to what is often referred to as a "fire policy". This policy covers your home, the land, and the rebuilding cost of the structure. You are no longer insuring your valuables inside the home (that will be the responsibility of the renter through their rental policy). In our experience, a fire policy has generally been less expensive than a homeowner's policy. That amounts to more money in your pocket again.
TAX ADVANTAGES
This topic is broad enough to fill entire books on the subject, so I will gloss over this and keep it brief. However, there are substantial benefits to renting your home. In a nutshell, when you start renting out your primary home (which will now not BE your primary home and you are allowed to obtain a new one with the same lower financing as before - yay!), you will start making income from your renters. However, any income you obtain will be offset against expenses incurred in owning your home (care, maintenance, repairs, and more). Any improvements you make and or large repairs you make (like a new roof), can be expended as a depreciation expense (meaning you will be able to deduct these costs over each year you rent the home up to the usable life of the item). You even depreciate the cost of the house structure. This is all overwhelming to discuss, but know this: You will be getting to deduct a lot of things from the rental income you make while also reducing the amount you owe on your home. Therefore, you are getting to offset a lot of the income you are making, and your debt on the house is still going down. Your home is gaining equity and you get to do it without a large burden of tax impact. That is a good thing.
LESS TIME ON THE MARKET SAVES YOU MONEY
In our experience, renting a home happens a lot faster than selling it. You can complete the process in a day, in fact, we have often rented a home in a matter of hours. That means, there is not a day that goes by that we spend money on utilities, mortgage payments, or property insurance or taxes in waste. If your house sits vacant on the market while waiting to sell, you rack up costs pretty quickly in all these areas. Renting a home is a less serious commitment for most people than buying one. They are more readily willing to enter into an agreement and the coordination of the transaction is simpler. Time is money. Renting saves on that front.
“Money is only a tool. It will take you wherever you wish, but it will not replace you as the driver.”
Hopefully this was interesting and helpful to you in the process of considering home rental. There are so many factors that go into the decision to rent or sell your home, and this is only a smattering of them. Knowing your advantages, including more obscure advantages, can be helpful when it comes to making the decision to rent or sell your home.
Have you ever rented out your primary residence? What made you decide to do so? Did you decide to sell instead? Were you happy with your choice? I would love to know!
- Casey