Monday, January 18, 2010

Rehab 101

In case I haven't already bored you with the details: Erik and I purchased our home using (all of our wedding money - thanks! - a bit from my parents, and) an FHA 203K (aka "rehab") loan. Basically, we were able to finance the price of the house plus the estimated construction costs; our contractor draws money from the allotted escrow account as needed, and anything that doesn't get spent gets tossed right back at our mortgage. The program is great in that it provides under-financed buyers with the ability to buy fixer-uppers that may otherwise sit unoccupied, and I highly recommend it to anyone considering unconventional loans (provided you have a bit of patience - the government backing means a lot more red tape and owner-initiated processes). The only catch: all improvements must be made within three months. That timeline was just fine with us, since our lease expires on Jan 31. And so the countdown began!

By the time we got back from Florida and called our contractor with the happy news, we were down two weeks. Everyone was in agreement that the roof was our first priority... unfortunately, you can't tear down a roof in rainy weather, and Maryland Januarys aren't exactly famous for their blue skies. After two heavy rains and many nights spent pacing through the apartment as I worried about the flooding that was surely taking place at our house, the roofers were able to start their work. Here's what our roof looked like before:
Everything - from the shingles to the sheathing - was rotted straight through and had to be replaced. Erik got this shot on Jan 13, while they were replacing the underlayment (dig all the technical terms?):

We got our first bit of bad news when it was discovered that the dining room leak (which originated under the left dormer) had caused more than just ceiling damage - the window frame was rotted through, and the structural beams were also in jeopardy. This whole wall was going to have to come down:

And I just like this last picture because it showcases our Pepto-pink wall so nicely! (Plus it was really nice, after 4 1/2 months of watching our house sit there and deteriorate, to know that things were finally getting done.)


Here is the update I got from our contractor on Jan 17 (she's a builder, not a writer):

hi amy, just to give you an update.
your roof is done. we purt out the drywall in the basement and remove the drywall in the ceiling. i waited until sunday. because i wanted to make sure when i gave you the update the roof was completed.
you had a lot of rotten boards on the roof. we completely rip off the entire roof and replace the entire roof. you roof was a little more steep then we has thought so it took a little longer.because we had to be very careful.
all the damaged drywall has been removed from the basement.
the ceiling in the dinning room has been removed.
we removed the old appliances from the basement and kitchen.
this week we will be working on the
gutters.
heating system. water heater.
plumbing
i did speak with jim if once you order the windows then i will install them. so as soon as you can order them i take care of it.

1 comment:

  1. Wow, you are correct, your contractor certainly is NOT a good writer :) But so glad things are continuing to move along!!!

    -RB

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