We had some family from AJ’s side over on Sunday and they spent the night with us. I thought time and time again what an absolute blessing it is to have a house that enables us to have people stay with us and have room for everyone. It was very difficult to do that in our last home so whenever we have people over and we are able to spread out and give them some space it’s so life-giving. I think that’s the word I’d use to describe this house… maybe I’ll go into it more later but it’s just struck me, especially since we’ve been here almost a year how this house has been just that: life-giving.
The chairs I want to order to go around this table are on back order till mid-July. Picture the table with six of these.
Lately I’ve been spending a lot of time lately brainstorming what I would do to this house that I’m just itching to flip in a surrounding town. I guess I want to create life-giving spaces for others… This home is part of a neat program that allows owner occupants to have first dibs for the first 20 days it’s on the market so that investors can’t scoop it up. We have to wait a few more days to offer. I’ve worked out this plan both in my head and on paper for what I’d envision this space to be transformed into so I figured I’d share it with you. Even if we don’t get the house I love the exercise and practice of running numbers, making the spreadsheets, pricing things out and working and re-working a space in my head.
The house, without a doubt, needs some work but the kitchen is in surprisingly good shape. I’m sure you are looking at this photo thinking that I must be a lunatic. The cabinets are missing some essential pieces but with those replaced the cabinets are completely usable. I’d paint them a gorgeous gray using this paint (affiliate) that has excellent reviews for durability for cabinets and install some very light counters (either a granite, quartz or Corian, most likely). The general look would be similar to this but with a little less brown in the undertones:
The green sink with a gold faucet isn’t my thing…
…so I’d install this IKEA apron front sink (my friend Nina Hendrick gave this sink great reviews here). It’s completely affordable and I think it would give the future homeowner loads of space for dishes.
Because the fridge goes a little past the door way I would give the kitchen a custom look by ordering a stainless one that is a counter depth and then have Nate, our amazing builder, frame it in. I want to make it look like all the cabinets go right up to the ceiling, without raising them (that one is for you shorties, like me!) so I’d have Nate frame in the top of the cabinets and add crown molding all around the top.
This awkward cabinet between the two windows would come down and it’d be replaced with some chunky white shelves with corbels. The jury is still out on the back splash, maybe I’ll just keep the one that’s there. 🙂
On the other side of the kitchen there is this blank, and scary, space. I’d replace the small window with a full size window and either add more counter space with seating over there or make the entire back wall floor to ceiling cabinets for added storage. What would be your vote in a kitchen of this size? Would you rather additional storage or additional counters (maybe with bar stools underneath)?
We’d rip out all the flooring downstairs because of water damage and replace it with hardwood floors. This would be something we’d hire out for in order to save our marriage. 🙂 The view from the living room to the dining room leaves much to be desired with the weird little half walls.
I can see two options for this area, one: nix those little walls completely or, budget to replace them with something that looks very similar to these great ones that Rooms for Rent has:
The half bath is so tiny, it’s basically a closet with a toilet and vanity in it.
I want to give the floor a gorgeous statement with some light gray neutral mosaic tiles like these… I have to run the numbers still but hopefully a fun addition like this would work out. The space is so small that a little splurge on tiles would be just that… little.
Lastly, I want to show you how I run the numbers for a flip. There are times that another category will need to be added like if we know something major needs to be replaced, like a heating system, but for this particular house these are the categories and basic expenses we are working with. We generally always work with Cape Ann Savings Bank, we have a great relationship with their commercial loan department. We learned the hard way from our first flip to always ask for money to cover the reno expenses up front in addition to the mortgage. I just noticed I forgot to include carrying costs to this spreadsheet (the cost to hold the mortgage each month) until it sells so you’d want to figure that in as well. I’m still tweaking it based off things that we brainstorm but this is just a basic example:
One of the things I want to talk about soon is why I budgeted $3000 in the reno plan for staging costs. I wouldn’t be hiring a staging company but rather using that money to purchase furniture that we can use from flip to flip. Feel free to ask any other questions and I can expand on things! Shoot me an email (firstname.lastname@example.org) or leave a comment below.