Wednesday, August 14, 2013

Step by Step

Our loan approval went through. Even though we were pre-approved and were shopping within our means, there was still a bit of anxiety surrounding this particular step in the process. Okay, I'll be honest, I will probably experience some anxiety with every step until we finish the renovation, move into, and have the other units rented in the building.

We will continue to dance a Cachucha, Fandango, Bolero. 

We got back into town yesterday and were back visiting with our lender, a.k.a. providing more documentation and signatures.  The property appraised and the survey was completed with only one little hick-up. One of the only structural elements we weren't planning on renovating was a wood deck on the rear of the property. This item however has to go now; it was never permitted. This has lead me to day dream about yet another aspect of renovation - gardening.

My cousin's Manhattan roof top herb garden has me drooling.

Some not so "ah" producing moments happened when we got to look through some of the pictures from the appraisal and I have to say, the interior didn't look any better on camera than I remembered it. Oh well. It's nothing some serious sweat, muscle, and cleaver design can't tackle.

Yet, we still have a way to go. I learned that up until our close date we'll need to provide regular updates on our income. We'll be seeing much more of our lender and his little dog who get's to hang out in the office. I think next time we head in for a "visit" we'll bring our pup for a play date. 

In other news: The packing has begun. We're living optimistically and moving forward. 

Wednesday, July 31, 2013

Time is of the Essence

Once we finally get into the building, whenever that may be, it will be a race against the clock to get the renovations done and a renter into the second floor unit.

We have a list of structural and mechanical modifications/updates that we need to take care of:

* Update electrical
* Update plumbing - add laundry in upper two units, add dishwasher in upper two units
* Insulate
* Evaluate roof - white roof
* Add more heating ducts and look into the possibility of running a/c in the future.
* Re-work the railroad layouts, keeping the upper unit a 3 bedroom, modifying the 1st floor unit into a 2 bedroom
* Remove the wall added between kitchen and living room in the upper unit and open the space even further in both units.
* Add closets
* Add transoms to filter light throughout the building.

Then we have a list of cosmetic updates that will entice prospective apartment hunters upstairs and make us happy to live in the building downstairs. These design decisions are what I spend most of my time pondering, following new potential layouts.

I've collected a bunch of inspirational images from the internet and have developed a pretty good idea of what we'll do to both units.

Future Owner's Unit Bathroom: