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2023-11: Warosu is now out of extended maintenance.

/diy/ - Do It Yourself

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1532166 No.1532166 [Reply] [Original]

Have a house with four bedrooms. A full bathroom upstairs and a full bathroom downstairs next to a half bathroom. Half bathroom so small can barely turn around.

I recently walked into the half bath (connected to master bedroom) and the floor failed on me. Moved in a number of years ago to help ailing grandmother and the bathroom hasnt been used in like 10. Had a constant leek.

Ended up turning two bathrooms into one very nice bathroom, left doors to both hallway and master bedroom. New insulation, subfloor, plumbing, tub surround, drywall, vanity, paint, etc. Did it all myself

Before this was done it was assessed at 260-300k by two different realtors. But bathrooms were hell, small, rot, grungy tile, etc, now the one bathroom is good. Wondering how bad i will be hit by the bank when they appraise house so i can buy from family.

Any ideas?

My county said no permits were required so i didn't do anything.

>> No.1532168

>>1532166

very nice. just needs base and shoe.

>> No.1532169
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1532169

>>1532168
Yeah. Total price came in at 1500. We have the stuff to finish but got pulled onto a different project. Whole house has like 20 years of accumulated maint.

>> No.1532291

>>1532166
>Before this was done it was assessed at 260-300k by two different realtors.
>Wondering how bad i will be hit by the bank...

So, a question for all - does the market price go up when you reduce the number of bedrooms or baths? I heard it goes down, generally.

>> No.1532302

>>1532166
>will tge price go up because I fixed the toilet, guise.
Breh, nobody but your family members can set the price and that price can and should be negotiated between you and you family.
If your family is going to jew you after what you did for grandma and the house, then fuck those people.

>> No.1532303
File: 31 KB, 450x450, f38c472d-99fe-43ab-aaa7-f6ce284c80b1_1.2e9d50374675b7409434ff14235bc025.jpg [View same] [iqdb] [saucenao] [google]
1532303

>>1532291
>when you reduce the number of bedrooms or baths

real estate jews will tell you one thing, but I'd like to think that in the real world, if you have made the house "better", then the value goes up.

years ago it was trendy to have a fondue pot. so my dad is asked by a co-worker, "do you have a fondue pot?"

"nah, we have a bath and a half"

>> No.1532304

>>1532303
Never mind your father, do YOU have a fondue pot?

>> No.1532307
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1532307

>>1532304

no.

hides in shame while eating fish yum

>> No.1532321

>>1532302
I already have an agreed price of 176. I was hoping to get it assessed at at least 230 to roll in the closing costs and still have 20% equity. If higher i am hoping to second mortgage to make more repairs. Kitchen also needs fully redone cause muh rot.

>> No.1532332

>>1532321
Wouldn’t it have made more sense to get a low appraisal so you could have purchased it “as is” and use the savings to fix the deferred maintenance?

>> No.1532367

>>1532332
I dont have a downpayment saved up. I have thrown all my extra money at paying off debt, in 2018 i paid off 40k of student loans. Where i am my bank counts the difference between home value and what i am paying as gifted equity in a family purchase. My dad is gifting me his portion, so i get 20% equity. This makes me able to avoid the 100ish a month mortgage insurance.

>> No.1532377

>>1532332
Followup a realtor buddy of mine appraised the house at 260 with maybe 40k repairs needed. My aunts appraised it at 300k with 10k repairs needed. Aunt is rich and so desires every penny. Family got her to agree to final price of 220k. So for that having a low appraisal was good. Now its all about having a larger difference between the sale price and the appraisal for home repairs.

I figure two shitty bathrooms for one good is a reasonable trade. But dunno what appraiser will say.

>> No.1532639

>>1532166
Kek. It might be me but it looks like your sink is a flat chunk of plastic. Good work tho

>> No.1532641

>>1532303
Lol

>> No.1532643

>>1532377
Most banks here in the land of the free only loan 80%.
Good luck either way man. Not a bad deal if you can swing it and the area seems to never be going downhill

>> No.1532710

>>1532639
One of those rectangle sinks, like 35x18. Its ceremic but is not perfectly flat, was a bad mold at the factory. Managed to pick it up for 20 bucks because of that.