The Garage (Apartment)- Part 4
>> 7.06.2012
(continued from part 1, part 2, and part 3)
Buying a home with a garage apartment has definitely been a lesson in "you have to spend money to make money." I'm having a tough time deciding if I would go back in time and re-do the whole thing by hiring everything out six months ago. We would have spent more money on labor costs (we were too busy fixing up the other rental, painting our own house, and training for the Ironman), but we would have made around $3,600 by having it rented out over that time period. At the same time, I'm not sure if our bank accounts would have been able to handle all of the upgrades right after buying our house.
Oh well. Here we are at the home stretch!
Thanks to a some mid-week day off of work, there are just a few more things for us to check off of the list before renting it out:
1. Finish the floors- In a perfect world we would put down some hardwood or tile across the entire thing, but with the past mold issues and costs, we'll try to stain the concrete for now. We've never stained concrete and I'm a little worried about the patched portion taking the stain... so I'll let you know how that goes...
2. Add new baseboards and trim- This is another new-to-us task. I'm sure it will be super easy and we won't have any issues at all! (sarcasm)
3. (Re)Paint and hang the cabinets- We primed, we painted, and they peeled so we'll try again. After three unsuccessful attempts, we'll also try to eventually find new hinges that will actually fit with the doors.
5. Make a better path to the front door- The old broken concrete path went through a muddy patch of our yard and we would like to better separate their space from ours.
My July 4th fun:
7. Buy kitchen appliances- I'm leaning towards getting a simple hot plate and toaster oven combo instead of a full oven. There isn't any ventilation in the apartment and I'm just worried it will take up too much space/ budget. Plus, detached apartments in our area are very popular so I think we don't have to necessarily appeal to the masses... If you were renting out a <400 sqft space, would you need a full-sized oven?
15 comments:
Ahh that sucks about the cabinets, I for when you repaint them everything will be fine this time around.
I'm leaning towards a full oven (maybe a small one not a full size one) I would just check out other detached apts in your area and see if most have full ovens- hopefully that will help your decisions.
Oh i'm glad your back to blogging :)
I'm glad you're back and with fun updates! I owned a 500 sq ft condo and used a full-size oven but since you're renting it out and in a market with high demand, I don't think you'll necessarily need a full-sized version. Are you going with a full size fridge or an apartment sized one? That might also be a factor when matching appliances. Have you looked at comparable apartments that are similar to yours and what features/options they have in the kitchen? That may be able to help you gauge the demand.
If it were me I'd go with apt sized fridge and toaster/hot plate. Anyone renting a smaller space isn't whipping up gourmet meals. More than likely if it's a guy he won't cook much at all. If it's a nice new good sized combo unit a renter should be more than satisfied. The extra floor space will be a bonus also.
Did you sand the cabinets? Should help that paint stick! You guys are doing a great job over there.
I love all these updates, Kasey. I hope to own some rental property one day so its fascinating to read about your adventures.
Definitely look into an apartment sized stove. I live in a tiny 300 sq ft studio and I use my apartment size stove so much. I don't think I would consider renting a place without one.
I'm excited to see the progress and hear how it turns out!
Think about your ideal renter - do you want it to be someone who only uses a hotplate and microwave (ie, a college student)? Get an apartment sized (20") stove.
@ashley~ The base cabinets were already painted and we tried to do another coat over it. I think that we probably used the wrong paint type on the lowers oil/latex and caused it to bubble up. I'll definitely sand this time around!
We'll definitely do an apartment-sized fridge with a separate door for the freezer.
@Kira~ In my research I've definitely found that stoves are deal-breakers for a lot of people so I can see that being an issue.
I would for sure get a full range (stove top w/oven) - but I'd get one of those tiny sized ones.
I'd get a tiny apartment oven. I wouldn't rent an apartment without one. So glad to see you back to blogging. I wondered what happened to you.
Re: the cabinets. You should buy TSP to clean the cabinets and then sand them in hopes of the paint adhering better.
Good luck. I'm finding all this information on your rental journey very interesting.
If all you are doing is replacing old plugs, you guys could do that easily. It takes less than five minutes per plug and is just a matter of connecting black to black, white to white and neutral to ground. Be sure you shut off the power first.
A small oven would be perfect. I had one in an efficiency I rented and baked cookies in it sometimes, very nice to have! Also, BIN shellac should eliminate the peeling problem.
Maybe you can invest in a halogen oven. You can still bake stuff in them, and store it away when not in use.
http://www.amazon.com/Morningware-HO1200-MorningWare-HO-1200-Halogen/dp/B000B8YOHG
@mary~ I've never seen one of those before. Very interesting!
They also sell single induction burners (the kind that you can touch with your hand, but boil water really quickly when you put metal on it) Amazing!
I'm all about not heating up a big oven/stove-top
http://www.amazon.com/Aroma-AID-506-Induction-Hot-Plate/dp/B0044WWBGG/ref=sr_1_3?s=home-garden&ie=UTF8&qid=1341941456&sr=1-3&keywords=induction+burner
When I was redoing my rental unit (a smallish studio) I found a 24" stove on craigslist. It was a good price and saved on space. The girl in the unit now cooks, so I'm hoping it's working as promised.
Also in that renovation - I painted the concrete floors. We didn't have the vertical height to add anything to the floor and the existing concrete was too uneven to add stuff anyway. It was painted with an exterior grade latex paint made for concrete & patios. Holding up pretty good 2 tenants later.
Good luck!
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