sarenu
Amethyst
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Post by sarenu on Jan 12, 2021 15:25:48 GMT -6
Why are houses so expense?
Why are property taxes so high?!
Someone help me win the lottery.
But in all seriousness, how do I go about hiring a contractor and having them add a master suite. Cause it seriously sounds like we might be headed that way.
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stringy
Opal
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Post by stringy on Jan 12, 2021 19:34:39 GMT -6
I don't know but I'd also like one please
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sarenu
Amethyst
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Post by sarenu on Jan 12, 2021 20:09:58 GMT -6
I don't know but I'd also like one please I just cant stomach taking out another 30 year mortgage after being down to 15. And the difference between the houses we are looking at is like 200k from what we paid for ours now. It's that or I move an hour away from work an may find something in our price range. But then all the kids need to switch schools and friends and girl scout troops, not to mention dance and karate. Someone adult for me please.
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stringy
Opal
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Post by stringy on Jan 13, 2021 7:10:41 GMT -6
I don't know but I'd also like one please I just cant stomach taking out another 30 year mortgage after being down to 15. And the difference between the houses we are looking at is like 200k from what we paid for ours now. It's that or I move an hour away from work an may find something in our price range. But then all the kids need to switch schools and friends and girl scout troops, not to mention dance and karate. Someone adult for me please. Yea we are pretty much in the same boat. After we finish the basement and pay some of that off we will probably look into an addition of some sort. Unless real estate falls greatly in our area or more stuff goes on the market. Which probably has happened...never. Its like one house per month and people all jump on it.
One thing to remember is that what you paid for yours is now worth more (I assume). Ours has appreciated 50-75k in 5 years - so there is some gain in there on top of your equity. But after that my brain goes to mortgage calculator mush.
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milano
Emerald
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Post by milano on Jan 13, 2021 7:35:41 GMT -6
The only advice I have about hiring a contractor is to go over their expected timeline in detail. When we renovated our upstairs the contractor said it should take 2-3 weeks and it ended up taking over 3 months. So put a timeline of sorts in your contract and discuss what will happen if they go over that. And of course make sure your contractor is licensed, insured, etc and that they pull the proper permits so that you have paperwork down the road if you ever decide to sell.
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stringy
Opal
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Post by stringy on Jan 13, 2021 8:26:07 GMT -6
The only advice I have about hiring a contractor is to go over their expected timeline in detail. When we renovated our upstairs the contractor said it should take 2-3 weeks and it ended up taking over 3 months. So put a timeline of sorts in your contract and discuss what will happen if they go over that. And of course make sure your contractor is licensed, insured, etc and that they pull the proper permits so that you have paperwork down the road if you ever decide to sell. I failed to follow all of this advice. See also, mask compliance.
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snowmoon
Sapphire
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Post by snowmoon on Jan 13, 2021 8:28:23 GMT -6
I’ve pretty much given up on the dream of home ownership unless we move provinces.
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sarenu
Amethyst
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Post by sarenu on Jan 13, 2021 8:33:47 GMT -6
The only advice I have about hiring a contractor is to go over their expected timeline in detail. When we renovated our upstairs the contractor said it should take 2-3 weeks and it ended up taking over 3 months. So put a timeline of sorts in your contract and discuss what will happen if they go over that. And of course make sure your contractor is licensed, insured, etc and that they pull the proper permits so that you have paperwork down the road if you ever decide to sell. I'm curious, what stipulations can you add if they go over time limits? I'm assuming now that supplies are the biggest issue. Which can really mess with a timeline.
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stringy
Opal
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Post by stringy on Jan 13, 2021 8:35:24 GMT -6
The only advice I have about hiring a contractor is to go over their expected timeline in detail. When we renovated our upstairs the contractor said it should take 2-3 weeks and it ended up taking over 3 months. So put a timeline of sorts in your contract and discuss what will happen if they go over that. And of course make sure your contractor is licensed, insured, etc and that they pull the proper permits so that you have paperwork down the road if you ever decide to sell. I'm curious, what stipulations can you add if they go over time limits? I'm assuming now that supplies are the biggest issue. Which can really mess with a timeline. I havent heard any supply issues. But unless its a bigger company with lots of alternate employees, covid can mess with a timeline. Quarantines, actual sickness, etc. Around here there are large wait times for subs, like an electrician or plumber.
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sarenu
Amethyst
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Post by sarenu on Jan 13, 2021 8:39:50 GMT -6
I’ve pretty much given up on the dream of home ownership unless we move provinces. The only reason we own a home is because we got one that is older than me and not renovated (no dishwasher and my lovely oven). If we stay, we will be putting a lot of work into landscaping and grading the back yard properly. This whole real estate is an investment needs to be chucked out the window. There is a lot down from us for sale at 190k. It needs a full remodel, and is about the same size as our house (fully finished basement, but it's a walk out so no true storage area). But it has 1/2 an acre. There were 5 cars there the day it went on the market. Then down the road a tiny 3 bedroom 1 bath newly built house on a concrete slab is going for 300k. A developer bought a plot and is splitting it to build 2 homes. Each home is basically 20 feet away.
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sarenu
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Post by sarenu on Jan 13, 2021 8:40:41 GMT -6
I'm curious, what stipulations can you add if they go over time limits? I'm assuming now that supplies are the biggest issue. Which can really mess with a timeline. I havent heard any supply issues. But unless its a bigger company with lots of alternate employees, covid can mess with a timeline. Quarantines, actual sickness, etc. Around here there are large wait times for subs, like an electrician or plumber. Lumber was a big issue here. Fencing and decks were delayed.
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milano
Emerald
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Post by milano on Jan 13, 2021 8:41:47 GMT -6
The only advice I have about hiring a contractor is to go over their expected timeline in detail. When we renovated our upstairs the contractor said it should take 2-3 weeks and it ended up taking over 3 months. So put a timeline of sorts in your contract and discuss what will happen if they go over that. And of course make sure your contractor is licensed, insured, etc and that they pull the proper permits so that you have paperwork down the road if you ever decide to sell. I'm curious, what stipulations can you add if they go over time limits? I'm assuming now that supplies are the biggest issue. Which can really mess with a timeline. I'm honestly not sure. In our case, it wasn't supply issues but he kept taking other jobs that kept him away for days at a time. At the end I finally put my foot down and got a little scary and then he wrapped up real quick. So I guess I would recommend making it clear that you want the job finished in a reasonable time frame and don't let them start until their schedule is cleared to be focusing on your project.
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milano
Emerald
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Post by milano on Jan 13, 2021 8:44:01 GMT -6
Home ownership is pricey, no matter what your mortgage. I have often thought lifelong renters were the smart ones, if you can find the right living situation or are flexible enough to be ok moving every so often.
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sarenu
Amethyst
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Post by sarenu on Jan 13, 2021 8:52:51 GMT -6
Home ownership is pricey, no matter what your mortgage. I have often thought lifelong renters were the smart ones, if you can find the right living situation or are flexible enough to be ok moving every so often. This is why I never look at home ownership as an investment. I'm paying for a roof over my head. But when my mortgage and tax payments are the same, it becomes difficult to afford both.
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tj
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Post by tj on Jan 13, 2021 9:16:51 GMT -6
In addition to licensed and insured, ask around or google or Facebook stalk or Yelp or whatever. My neighbors failed to do so and turns out they hired a con man. Ended up setting up a sting operation for the cops to nab him at their house. It was crazy.
He was showing up and doing the work and taking the money as a contractor, but he was not paying the suppliers. And apparently the suppliers get the homeowners names and go after them, not the contractor. So homeowners were basically on the hook for the double.
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sarenu
Amethyst
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Post by sarenu on Jan 13, 2021 9:24:27 GMT -6
In addition to licensed and insured, ask around or google or Facebook stalk or Yelp or whatever. My neighbors failed to do so and turns out they hired a con man. Ended up setting up a sting operation for the cops to nab him at their house. It was crazy. He was showing up and doing the work and taking the money as a contractor, but he was not paying the suppliers. And apparently the suppliers get the homeowners names and go after them, not the contractor. So homeowners were basically on the hook for the double. Yep, this happened to my mom when she got siding. I have 2 contractor names from people I trust at work. I'm going to grab a 3rd that is a local guy in my town. My plan is to call all 3 (all are licensed and insured and done work for the people I asked). Talk with them about their process, payment plans and see what they recommend. I'm all for saving a buck, but I'm going to go with the contractor that will explain things and communicate with me. Is it right to assume 10 to 20% in additional costs? I plan to pay most of it out right.
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sarenu
Amethyst
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Post by sarenu on Jan 13, 2021 9:26:37 GMT -6
Should I have a list of needs and wants ready?
Like I need a master bedroom, with storage and a 3/4 bath. Double vanity?
How specific should I be when I start this process?
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snowmoon
Sapphire
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Post by snowmoon on Jan 13, 2021 10:49:35 GMT -6
I’ve pretty much given up on the dream of home ownership unless we move provinces. The only reason we own a home is because we got one that is older than me and not renovated (no dishwasher and my lovely oven). If we stay, we will be putting a lot of work into landscaping and grading the back yard properly. This whole real estate is an investment needs to be chucked out the window. There is a lot down from us for sale at 190k. It needs a full remodel, and is about the same size as our house (fully finished basement, but it's a walk out so no true storage area). But it has 1/2 an acre. There were 5 cars there the day it went on the market. Then down the road a tiny 3 bedroom 1 bath newly built house on a concrete slab is going for 300k. A developer bought a plot and is splitting it to build 2 homes. Each home is basically 20 feet away. I haven’t seen any house listed in our city for under 315k in over two years, no matter the condition it’s in. The town houses in our neighbourhood are hitting the market now at 400k and often selling over asking. We’re seriously considering buying a lot and living in a yurt on it for a few years if we want to stay in the area. So many people are moving north from Toronto and the people who have been here their entire lives are getting pushed out of the market.
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sarenu
Amethyst
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Post by sarenu on Jan 13, 2021 10:59:25 GMT -6
The only reason we own a home is because we got one that is older than me and not renovated (no dishwasher and my lovely oven). If we stay, we will be putting a lot of work into landscaping and grading the back yard properly. This whole real estate is an investment needs to be chucked out the window. There is a lot down from us for sale at 190k. It needs a full remodel, and is about the same size as our house (fully finished basement, but it's a walk out so no true storage area). But it has 1/2 an acre. There were 5 cars there the day it went on the market. Then down the road a tiny 3 bedroom 1 bath newly built house on a concrete slab is going for 300k. A developer bought a plot and is splitting it to build 2 homes. Each home is basically 20 feet away. I haven’t seen any house listed in our city for under 315k in over two years, no matter the condition it’s in. The town houses in our neighbourhood are hitting the market now at 400k and often selling over asking. We’re seriously considering buying a lot and living in a yurt on it for a few years if we want to stay in the area. So many people are moving north from Toronto and the people who have been here their entire lives are getting pushed out of the market. It sucks. And I think we are going to be seeing this problem soon in our area as well.
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stringy
Opal
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Post by stringy on Jan 13, 2021 12:26:03 GMT -6
Should I have a list of needs and wants ready? Like I need a master bedroom, with storage and a 3/4 bath. Double vanity? How specific should I be when I start this process? This I don't know. Some people work with an architect. Some bigger contractors have one on staff. I suppose it depends on the complexity - like we didn't have one for the basement because basement. I'd want to see a plan/drawing before they build me something fresh.
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sarenu
Amethyst
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Post by sarenu on Jan 13, 2021 12:41:00 GMT -6
Should I have a list of needs and wants ready? Like I need a master bedroom, with storage and a 3/4 bath. Double vanity? How specific should I be when I start this process? This I don't know. Some people work with an architect. Some bigger contractors have one on staff. I suppose it depends on the complexity - like we didn't have one for the basement because basement. I'd want to see a plan/drawing before they build me something fresh. Yes, this is my situation. That's why I'm hoping to work with an architect. We could do a loft addition or add on. We have a Ranch style house. I know a loft would be more, but I dont want to lose lot space.
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stringy
Opal
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Post by stringy on Jan 13, 2021 14:15:31 GMT -6
This I don't know. Some people work with an architect. Some bigger contractors have one on staff. I suppose it depends on the complexity - like we didn't have one for the basement because basement. I'd want to see a plan/drawing before they build me something fresh. Yes, this is my situation. That's why I'm hoping to work with an architect. We could do a loft addition or add on. We have a Ranch style house. I know a loft would be more, but I dont want to lose lot space. can you show me what you mean by loft? So going up?
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mapleme
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Post by mapleme on Jan 13, 2021 15:13:44 GMT -6
This I don't know. Some people work with an architect. Some bigger contractors have one on staff. I suppose it depends on the complexity - like we didn't have one for the basement because basement. I'd want to see a plan/drawing before they build me something fresh. Yes, this is my situation. That's why I'm hoping to work with an architect. We could do a loft addition or add on. We have a Ranch style house. I know a loft would be more, but I dont want to lose lot space. I would start with the architect. I had no clue how wonderful they could be until my current project. I didn't see any reason to have one here because we weren't doing any major building and I can draw basic plans. But the state required me to have architectural drawings of the building because of the size of the renovation (even though the thing that pushed it over the edge was a walk in freezer). Our architect was amazing. He did drawings of the whole building and looked up all the necessary codes for both our new bathrooms and the retail space. We discovered a couple surprises while building the bathrooms that required him to redraw the plans multiple times. An architect could probably help you formulate what you want.
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sarenu
Amethyst
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Post by sarenu on Jan 13, 2021 15:19:57 GMT -6
Yes, this is my situation. That's why I'm hoping to work with an architect. We could do a loft addition or add on. We have a Ranch style house. I know a loft would be more, but I dont want to lose lot space. can you show me what you mean by loft? So going up? Similar to below. But our starting ranch only has a single car garage. We have a full basement the length of the house, excluding the garage.
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mapleme
Amethyst
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Post by mapleme on Jan 13, 2021 15:20:22 GMT -6
We had stupid covid related delays. Like we didn't have heat for a month because the new stovepipe for the new boiler took a month and a half to ship from California. With *almost* every contractor that we had here we avoided them being slackoffs because it was the biggest project that they were working on. And we still had stupid delays. But I would talk to the contractor about how they deal with delays. Maybe only pay them portions as they finish certain parts.
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sarenu
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Post by sarenu on Jan 13, 2021 15:30:17 GMT -6
Yes, this is my situation. That's why I'm hoping to work with an architect. We could do a loft addition or add on. We have a Ranch style house. I know a loft would be more, but I dont want to lose lot space. I would start with the architect. I had no clue how wonderful they could be until my current project. I didn't see any reason to have one here because we weren't doing any major building and I can draw basic plans. But the state required me to have architectural drawings of the building because of the size of the renovation (even though the thing that pushed it over the edge was a walk in freezer). Our architect was amazing. He did drawings of the whole building and looked up all the necessary codes for both our new bathrooms and the retail space. We discovered a couple surprises while building the bathrooms that required him to redraw the plans multiple times. An architect could probably help you formulate what you want. How did you find your architect? I may call the 2 contractors and ask for recommendations first. Because if we do this, I want to consider opening the dinning room wall and redesigning the kitchen.
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mapleme
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Post by mapleme on Jan 13, 2021 15:39:10 GMT -6
I would start with the architect. I had no clue how wonderful they could be until my current project. I didn't see any reason to have one here because we weren't doing any major building and I can draw basic plans. But the state required me to have architectural drawings of the building because of the size of the renovation (even though the thing that pushed it over the edge was a walk in freezer). Our architect was amazing. He did drawings of the whole building and looked up all the necessary codes for both our new bathrooms and the retail space. We discovered a couple surprises while building the bathrooms that required him to redraw the plans multiple times. An architect could probably help you formulate what you want. How did you find your architect? I may call the 2 contractors and ask for recommendations first. Because if we do this, I want to consider opening the dinning room wall and redesigning the kitchen. I thought that my needs were super basic (needing a drawing of the building), so I literally called the first one that showed up on google. It turned out that I hit the jackpot (multiple people told me this later). I would have called more architects, but I was happy after our phone conversation and didn't feel like I needed to look further.
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