OP
Sigarms
Super Star Member
Believe me, the house REALLY needs renovating. This is the master bathroom.
riptides
Super Star Member
Retro is making a comeback.
OP
Sigarms
Super Star Member
Not in our house it is LOL
You can see the master bathroom in the window to the left of the toilet. We're losing a wall to increase the space of both bathrooms, and the master will cut into this one.
ericm979
Super Member
Oww, my eyes!
quicksandfarmer
Elite Member
I don't want to sound like I'm bragging, but I think my shoulders are broad enough that I'd have to turn sideways to use that toilet.
riptides
Super Star Member
That is money.
OP
Sigarms
Super Star Member
If you're referring to renovations, you're absolutely correct.
Both bathrooms are totally stripped now down to the studs except for the existing piping.
Pretty much new plumbing per piping is being replaced and then set according to where the new showers, toilets and sinks will go. We're losing a hallway to increase the bathroom space between the two bathrooms (to increase the master bathroom size. Stackable washer and dryer going in the guest bathroom so laundry can be done on the first floor instead of the unfinished basement.
Basically an entire gut job including exterior.
Thus the reason why I wasn't as enthused as my wife when we went down this path
- Joined
- Aug 31, 2001
- Messages
- 66,099
- Location
- South Bend, Indiana (near)
- Tractor
- Power Trac PT425 2001 Model Year
I disagree.
Home equity loan they hand you a lump sum and you have to start paying it back with interest immediately every month.
HELOC you only have to pay interest on what you draw against, until it comes due, then you start paying monthly like a mortgage for 20 years (or whatever the agreement). So if you don't draw anything, you don't pay anything. If you draw $10k, you could only pay interest on the $10k until it comes due, then take 20 years to pay it off, or, you could pay it all off tomorrow. It's a lot more flexible.
I'd much rather have a $100K line of credit if I need it and make no payments, than take out $100K and have to start paying it back with interest immediately.
They serve different purposes.
- Joined
- Aug 31, 2001
- Messages
- 66,099
- Location
- South Bend, Indiana (near)
- Tractor
- Power Trac PT425 2001 Model Year
Our heloc had a card. So for the most part, it WAS a checkbook. Just made of plastic instead of paper. We called it "the big card" and kept it locked in the gun safe.I guess we could do that (we basically have a checkbook), however, it's only going towards the new home and renovations. That's what's in our budget
Besides that, to my dismay, wife said I can't use that checkbook for a 911! Go figure...
riptides
Super Star Member
I meant the tub was money.If you're referring to renovations, you're absolutely correct.
Both bathrooms are totally stripped now down to the studs except for the existing piping.
Pretty much new plumbing per piping is being replaced and then set according to where the new showers, toilets and sinks will go. We're losing a hallway to increase the bathroom space between the two bathrooms (to increase the master bathroom size. Stackable washer and dryer going in the guest bathroom so laundry can be done on the first floor instead of the unfinished basement.
Basically an entire gut job including exterior.
Thus the reason why I wasn't as enthused as my wife when we went down this path
Renovations are super expensive. First hand experience here.
Budget went over three times. Naive and the unknowns when dealing with old homes.
I'd say two thirds of our farm house was demolished. Only the original 1920's remained and that was gutted in parts to the floors.
But...my wife had vision. I learned to keep up with that.
The end result will be special for sure. You will make it your new home!
- Joined
- Aug 31, 2001
- Messages
- 66,099
- Location
- South Bend, Indiana (near)
- Tractor
- Power Trac PT425 2001 Model Year
Awesome!
Ours had green tile on the bottom and grey where your's has wall paper. They are Miraplas brand. They were in excellent condition, just stuck in the 50s. We were going to remodel our bathroom, but the tub was built into the wall pretty far. We'd have had to bust it out, gut the walls, ceiling, floor, everything....
So we called a guy that does tub reglazing. He gave us an estimate on the tub. Good price. Then we asked if he did wall tiles. He said he didn't see why not. Then we told him it was plastic. He said he never tried it before, but was willing to give it a shot. So we did. It came out great!
Same price as a bathroom tear out if I did it myself, but ZERO work on my part and done in 2 days. I put in a new floor and we're good to go.
Was cleaning out the basement a couple weeks ago and found a case of the tiles in the back corner that the previous owner left.
Here's the stuff....
OP
Sigarms
Super Star Member
Home was built in 1962 and it was a one couple who owned it.
Son lived with the mother to help her out for a year before she passed.
I had a couple of guys I trust on construction go over the house with me. Both said sound structure but they wouldn't buy it to flip it, however, if it was going to be our "forever home" and put more money into what we wanted done, it was a good solid house (honestly, I was kind of hoping they'd tell me/us they wouldn't touch it with a 10' pole LOL).
Believe, with new plumbing, new electrical and ripping out the oil furnace with new duct work (I can save a little there) we're paying about what the house cost us in renovations.
I kind of wanted this to be headache free myself, at our age, but like your wife, mine has a vision. We've only been married 22 years now, but she's never failed me when she had a plan that I wasn't 100% on board with.
The irony is if you saw the kitchen cabinets (which we aren't touching except for fitting the gas stove in) along with the intercom system that was there (we guess when the house was built) it was pretty high end for the time on a smaller house.
riptides
Super Star Member
LOL on the kitchen. One of the first pic's we took of the house as I started in the Kitchen.
Today, it remains one of the last projects to complete. All I did was strip, paint, new plumbing, electric and replace appliances. It will need new subfloors and the walls need to be removed. Basically a gut down to the frame, again. This was/is the oldest part of our house.
Torvy
Super Member
Different purposes, sure. They have the same drawbacks. A HELOC pulls your credit, has a cost to set up, and counts against your credit for the full amount, whether you use it or not. Rates on a HELOC are typically higher as well.
