Angela Sells DFW

Journey with me through my real estate, motherhood and Texas adventures

Archive for the category “home for sale”

4 Tips for Buying a Vacation Home

 

Tip #1: Make sure it’s in your budget. Many people buy a vacation home with the intentions of renting it out to cover the costs. Before buying a home with this intent, be sure to check the market and be sure that you can rent your home enough to cover the costs that you will need to have covered. Remember that real estate is not a liquid investment and when the market changes you could be at risk of having to sell your home for a much, much lower price than you paid for it.

Tip #2: Know the Rules before you buy the property. Sometimes HOAs, cities and other institutions will put requirements on which homes can be used as a rental property and may have certain standards in order to do so. Sometimes hotels and resorts can require you to operate your rental through them. It is important that you look into any rental restrictions before you purchase your home.

Tip #3: Be realistic with the amount that you expect to make from renting your property. Remember to be realistic about what costs are going to be required to maintain your property, such as cleaning between guests, HOA fees, and utilities. Also consider how much it is going to cost in order to completely furnish your home. With all these costs, it is important to be realistic about the amount that you expect to make in profit from your rental.

Tip #4: Pick a vacation spot that you can go to regularly. Damages can cost a lot more when they are left unattended. It is important to pick a vacation spot that you intend to and can realistically visit often in order to be able to check on your vacation property and ensure that any needed repairs are done in a timely matter to keep costs down, especially if you do not intend to rent your vacation property.

For all of your real estate needs, please contact the Hornburg Real Estate Group at Keller Williams Realty at DallasFtWorthHomeSearch.net or (817) 264-7087.

Flipping Grandview: Week ???

I seem to have lost track of what week it is… maybe it’s denial that we are more than 4 weeks past the initial goal that makes me want to bury my head in the sand?!? It’s actually week 12 and we have flooring! Hooray! Forward movement is progress and I am happy to have it!

The next hurdles are getting the granite & back splash in, refinishing the shower tile, getting appliances in & completing trim out work & the punch list so far. There is still some touch up painting to do as well.

They did get the exterior painted and the workshop painted red, too, since our last update.

We are over on holding costs putting us $5,000 behind on budget currently which we are adding to our other $1,500 of overage expenses. That has us $6,500 in the red on our budget. We will likely be over budget an additional $6,000 In holding costs & odds, ends that will need to be done. We aren’t going to turn the profit that we had hoped on this one and that’s why it’s important to flip multiple at a time! As always, we are learning great lessons on this one and will do the next one differently.  It is coming together though and looking good!

 

Flipping Grandview: Week 4 & 5

A new week, a new unexpected expense.  Upon further inspection, the water heater that we thought serviced the whole home did not.  The one that does is in need of repair.  Instead of waiting for it to flag on the future buyer’s inspection report, we will go ahead and replace it to ensure it’s up to code before construction is complete.  That will be an additional $1,000 bringing our unexpected total up to $1,500.

Our contractor did see some other unusual items and is going to get them repaired within the original bid which is great!  We are already over budget since we purchased all of the appliances, fixtures, lights, faucets, etc.  We know we will have some electrical work to do once the renovation is done as well so we are really trying to limit our costs.  The holding costs definitely add up quickly, too.  We are getting ready to make our first mortgage payment.

This week, we got the colors right and additional coats of paint on went on.  The progress is visible and that’s exciting.  The contractors believe they will be done around March 23 so our plan is to have the home on the market by the end of the month!

 

Flipping Grandview: Week 2

This week saw some big items being taken care of like a new HVAC system, drywall prepped and repaired for paint, completing some detailed demo to prepare for the new look!

Follow along as we flip Homes in the Dallas / Fort Worth area!

New Listing in Fannin Farm! 1915 Parktree Drive

Great home ready for it’s new owners to add their own personal touches to! Floorplan offers HUGE upstairs Master bedroom and bath. The kitchen has recessed lighting and a cooking island. The open concept floorplan is perfect for entertaining. The home is located in Fannin Farms and features a community pool, playground, jogging trails and a park. List Price: $289,900

New Listing! 6849 Driffield Cir NRH, TX 76182

Handyman special!!! Established community with large trees! Great layout with vaulted ceilings, open floorplan with kitchen breakfast bar overlooking eat-in space & living room! Laminate flooring! HUGE deck with large fenced backyard! Big storage shed in backyard with 2nd story storage space! Don’t miss out on this great opportunity to own this great home in a central location!!! List Price $99,900

New Listing! 1213 Switchgrass Crowley, TX 76036

NO REAR NEIGHBORS! Large yard! Open floorplan with 4 bedrooms, formal dining, granite with staggered cabinets, split floorplan! Large Master bedroom & Master bath! Neutral colors throughout! Convenient location near 1187 and also 35! Beautiful rock façade exterior, large, fenced backyard with a view of no rear neighbors! Come make this home your own! List Price $215,000

New Listing! 3101 Shoreline Burleson, TX 76028

Lakefront beauty in highly sought after Mountain Valley Lake community! Opportunities like this don’t come along often! Fish & kayak in your own backyard! Enjoy the beautiful views from abundance of living room windows, under the covered porch or on the paver patio! Great floorplan has a spacious entry way with split bedroom floorplan, 42” cabinets with granite countertops, stainless appliances, double pantries & spacious Master bedroom! Don’t miss the super long driveway for ample guest parking, too! Listing Price: $210,000

New Listing! 3611 Sandhurst Arlington, TX 76001

You won’t want to miss this well-kept, updated home in highly sought after Martin H.S. zone with a 2-car garage! LARGE backyard with wooden deck offers plenty of outdoor entertaining options! Great split-bedroom floorplan with each bedroom located next to a bathroom! Vaulted ceilings add to the spacious feel, rock fire place, neutral colors throughout, fresh exterior paint, recently replaced roof!!! Listing Price: $125,000

New Listing! 7511 Amsterdam Arlington, TX 76002

Beautiful backsplash and custom features in kitchen. Open concept with vaulted ceilings, hardwoods, and art niches. Office with french doors and updated light fixtures throughout. Tile in kitchen, dining room and bathrooms. Mansfield ISD too!! Backyard complete with deck and fire pit. Listing Price: $180,000

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