
So I bought an investment property a few weeks ago. The closing date was this past Wednesday November 25th. I found it by chance. I was searching the MLS like I periodically do and I just happened upon this cute little townhouse for sale in a neighbourhood I am very familiar with. I immediately called my real estate agent and asked him to get me in for a showing. I met him there the next day. The house is old. It has that old, warm, library-like smell about it. I immediately fell in love with it. On first glance I did not see how "rough around the edges" the house was. I saw past all of that. I imagined what colours I would paint it and what patio furniture I would set out on the deck. I imagined myself soaking in the tub and then reading a book on the couch....I would have to read a book because I don't own a TV! The TV I use now is my husbands and somehow when I imagined how this house would look, his stuff was not there. The very next day I applied for pre-approval mortgage financing. The day I received my approval I placed an offer on the house. It was a "power of sale" meaning the previous owners did not pay their mortgage and were kicked out. The bank now owned the house. There was a touch of sadness etched in the walls because it was clear that the family that was unable to afford thier mortgage had small children. This was evident by the safety locks on the toilet seats and on every cupboard and drawer in the house. There was even a cow magnet stuck on the front door left behind by a child. The very same cow magnet that my children play with at home. I saw the potential of this house becoming a home and within 2 weeks the house was mine. Prior to the closing date I posted an ad on Used Ottawa, Kijiji and Craig's List advertising it for rent. Because I wanted it rented for December 1st I had to make a special request to my agent to open the door one Saturday so that I could show the place to all the potential tenants who had responded to my ad. He agreed and I had over 10 people/couples view the house. There was a young lesbian couple that I liked the best. They seemed motivated, driven, clean, organized and when they said they liked gardening I was sold! I later found out that they were accepted into co-op housing the day after they had viewed my place and they would have to choose the much cheaper co-op option over my cute little house. In fact, the unexpected high demand for my house made me up the monthly rent by $100 more dollars than I had originally intended on charging. My second favorite couple handed in their rental application and were accpeted a few days later. I get a really good feeling about them. Roxanne and Patrick - nice people who seem very excited to finally be moving into an actual house rather than thier so accustomed to appartment.
It was only when I did the rental showing that I realized how rough the house really was. It desperately needs to be painted and cleaned and there are a few small touches that would make a world of difference. Structurally there is nothing wrong with it. It has a metal roof - lasts forever, a decent foundation and relatively new windows. With a little paint, a few new light fixutres and a really good cleaning this house will be amazing! I hired a painter and he started on Thursday morning. Just having the upstairs ceiling painted made a huge difference in the overall look of the house.
Today I had the ducts cleaned. The house was built in 1955 and today was the first time the ducts have ever been cleaned! While the men cleaned the ducts I made a list of things I will need from Home Depot. I began raking the leaves on the front lawn and smiled at all of the on lookers wondering who the new girl in the neighbourhood was. I made a trip to Home Depot and picked up a few things on my list. I changed the heater vents to new brass ones and changed the furnace filter. That's it for today. I will putter away at it again tomorrow. Slowly but surely it is coming together.
No comments:
Post a Comment