Wednesday, July 02, 2008

Busy

Hey all, just thought I'd take a minute to update y'all about what Missi and I are up to. We've decided on a house in Farmington that was built in 1900, it's about 2,000 sq. ft., it has an oversize three stall detached garage and the lot if I remember right is about 12,000 sq. ft. The house needs a lot of work to be nice and being as some of the work (such as new roof) needs to be done right away we decided to go with a rehab loan through FHA called 203K. So what we're going to do is borrow the money to fix up the house and add it to our mortgage. The house price is around 100k and we're borrowing an additional 24k. The downside is we've got a time limit of six months to get all of the items that we specify done. Extra money can be used for additional approved items or is applied to mortgage balance. I'll update more later, gotta run. #9

8 comments:

Kuoppala's & in-laws said...

congratulations on the new house! How exciting to have your own place:) The fixing up is fun too, it's just the mess that is hard when you have kids.
Nice to hear from you! say hi to missy.
Jenny

Kuoppala's & in-laws said...

Congratulations! It is so much fun to have your own place to work on. Yeah, lots of work but so rewarding when it is done! Can't wait to see it sometime!
-a

Kuoppala's & in-laws said...

Congratulations Ivan! I'm so happy for you two! Hi to Missi from me too!
~j~

Kuoppala's & in-laws said...

Congratulations on being home
owners. Guess we won't be seeing
you two for awhile. Our plate is
pretty full but wouldn't mind
coming to do something some Sat.
We are committed to doing the
remainder of repairs on Laurie's
heat system. Hi to Missi. dk

Kuoppala's & in-laws said...

Congratulations on the house!! Perfect house for a man who has been doing construction forever right? :)

Can you post some pictures of it on here?

Heather

Kuoppala's & in-laws said...

Thanks all, just want to remind you as I keep reminding Missi and myself, that we don't own the house yet. Keeping our fingers crossed that all goes well but I at least am not taking a final count of the chickens just yet(though I did start packing). As I think I said before closing is scheduled for July 15 @ 10am. After that we plan on doing a number of things to the house including new roof on house and garage, new siding on house, new windows in house, new flooring throughout house, remove existing plaster throughout house, install insulation(may need to fur out some of the walls to 5 1/2" for R19), new trim on all windows and doors(may be able to reuse some of the existing trim). We are planning on carpet in three of the extra bedrooms, master BR, and living room. Pergo floor in kitchen, dining RM, front entry, fifth BR(to be used as a den), and upstairs hall. Front entry and upstairs Pergo will be oak finish(later we'll replace stair treads with oak treads and risers)and kitchen/dining room will be walnut(?) finish. Laundry and bathrooms will be tile, eventually we may upgrade to ceramic tile there. Anyway, long story short we're going to be very busy for a while and to top it all off work is getting real busy and may go to forced OT, which they wouldn't have to force me at all except for all the work to be done at home. See you all later. As for posting pictures, Missi and I have decided that if anyone wants to see the house you should come and see it and bring along your work duds. Just kidding, we'll probably post some pictures sometime. Ivan

Kuoppala's & in-laws said...

Ivan, that works for me. I am always more than willing to help. I just may be a little slow! Just ask Heather! When I went up there I told her that I would be willing to help outside. I did go outside, and man, let me tell you, reading a book while stretched out on the lawn felt wonderful! And as I would work so hard lifting my head up to see both Heather and Shawn working up a sweat, was a major work out!:)Or agree to work at Elizabeth's work party, I worked by eating the food that was left there since I arrived when the labor was almost done! Let me know when and I would be more than willing to help you! :)
~j~

Kuoppala's & in-laws said...

Ivan,
Hope to hear the results from the 15th, can't wait to hear that you own a home!
Heather