Friday, March 24, 2017
Property survey and finances
I am seriously considering getting the property of the home I'm buying, once bought, surveyed and staked, so that I know definitively, where the property lines are on the sides and rear of the property.
Anyone ever have this done? cost projection?
I have a call in to a local surveyor (literally lives on the next street over from prospective home), who was recommeded by my real estate attorney. He will get back to me this afternoon; I assume that he is on a job at the moment.
Hate adding extra costs at this point, but my end goal is to do what is necessary NOW, while I have added income, as this may not always be the case. Electrical, plumbing, appliance upgrades and bringing shoddy work into permitted, up to code work, will be done. Cosmetics can wait a bit, as well as luxuries like a gas fireplace conversion, a remodeled kitchen. As quotes are coming in, I can pay cash for 1/2 of it, depeating my 6 month income reserve. I have my retirement income starting the 31st, guaranteed for life, so I won't "need" the 6 month cushion. My retirement take home will fully cover my projected living expenses, all inclusive, and leave a few hunded to spare. My second income stream continues, which translates into complete savings. I still plan on getting employment with benefits by the end of Summer, as my ins ends at that time.
For the other 1/2 of the remodeling/upgrade costs, I will most likely get a home owner's line of credit, but I could* put it on my CC (9 % interest rate)and pay it off well under a year, faster once I add another job's salary to the mix. I continue to crunch the numbers in my anticipated, new budget and it looks very feasible. Better to pay interest to a bank, however, and deduct that interest. I've already reached out to my mortgage officer, and we agree that this would be done after the home sale closing, as I don't wish to add additional debt to a 30 year mortgage.