Updated over 4 years ago on . Most recent reply
House Hacking While Living In and Budget Improvements
My wife and I just closed on our first investment property, which we will be house hacking a dupelx for the next couple of months. The goal is to live in one unit (3bd/1bth) and make updates while living in, and at the same time, rent out the bottom unit (3bd/1bth). Since this is our first go around at house improvements and landlording, I thought this would be a good forum to pose the question to folks who've been doing this for a while.
My main question is... how did/do you approach creating a timeline and budget for making certain updates while you're living inside the unit. For example, here's a short list of things we'll be looking to update while living in the unit:
- Clogged upstairs bathroom drain
-Need bathroom fan
- Bathtub porcelain chipped
- Broken balcony door
- Broken kitchen window
- Missing smoke detectors
- Redo kitchen floors
- Refinish living room floors
- Paint in all rooms
- Improve kitchen cabinets
We don't have a specific $$ budget, but we're always looking to keep costs low while providing quality. Based on the list above, are there certain areas/tasks that you would tackle first before others? What's the best approach to set a budget if you've never done home improvement projects? Appreciate any responses on this!