Three weeks ago, my husband and I bought our first home. After 10 months of searching and seeing roughly 60 homes, we finally found ‘the one’. The house we purchased has good bones but needs some cosmetic updates, and it seems we aren’t the only ones completing home renovations. With limited quality inventory on the market, people are choosing to remodel their homes rather than move. Or like us, find a home and make it their own (http://www.cnbc.com/2016/07/21/nesting-is-investing-as-home-improvement-spending-set-to-hit-321-billion.html ).
I have quickly discovered how much my career in property management has carried over into my new life as a home owner. Before we closed, I prepared a budget, if you will, of repairs we are hoping to complete before we move-in at the end of September. This includes the project scope, anticipated cost and week we plan to complete the repair. Though my husband rolled his eyes when I first put this together, it has become a helpful tool to track spending and keep us focused on the repairs that are most important at this time, rather than repairs that can be deferred.
Luckily, my husband is extremely handy and can handle 90% of the work. The few vendors that we needed to contact were carefully selected after researching and obtaining multiple quotes.
Similar to shopping centers, it can be the simplest update that alters the entire look and feel of a home. The day after we closed, we immediately began our renovations by tearing up the colorful shag carpet (pictured below). This alone made the house feel brighter and, not to mention, 20 years younger. Painting is another cost effective and simple solution to revamp the look and feel. Though at this time if I never have to paint again, it will be too soon.
Being a property manager requires having a keen eye for detail to perform site inspections. Unfortunately, this means every little imperfection in our home will be noticed, so the to-do list will be never ending….
Stephanie Frazee | Asset Manager
Mid-America Asset Management, Inc.
One Parkview Plaza, 9th Floor | Oakbrook Terrace, IL 60181
email@example.com | www.midamericagrp.com