All Forum Posts by: Chantel Holsather

Hey Peter,

Unfortunately, a window can't be added to the basement. I thought about maybe converting the living room with a fireplace on the main floor to a 3rd bedroom, but I'm not sure if the HOA would allow such a big change to the layout. Also, I think it would make the kitchen and dining area awkwardly small. Maybe a breakfast nook is ok for the main floor? I suppose I could email them and see.

Hey Jaron,

I only reached out to one guy in the summer to see how much I needed to save. But I definitely plan to get more quotes. I don't remember exactly, but its on top of my 2-car garage, so 20 ft by 22 ft maybe? He said the frame was rotten under the floorboards, so that also needs to be done.

 

Thank you, Vince! I'm slowly making smaller improvements, like paint, light fixtures, and outlets, but my townhouse does need some larger repairs, such as new floorboards for my large deck (not covered by the HOA), an overhead light in the master bedroom, and new flooring in the basement. The deck floorboards aren't in the best shape, so I should probably do that first, and the estimate I got last summer was $12000. I could probably hold off on the basement flooring, though. I think I'll have to wait 2-3 years to pay for the renovation unless I take out a loan for the shower renovation.

I own a 2-bedroom townhouse with one full bath and 2 half baths. I am currently house hacking by living in the basement and renting out the two bedrooms upstairs. Legally, I can't rent out the basement as there is no window. In a few years I'd like to rent the property fully, and it looks like I can conservatively get get $2000 a month. I'd like to get more cash flow from this property. Doing the math for maintenance savings: $200.00 month, Cashflow: $308.93. Should I rent it out with some small cosmetic fixes or make the master bedroom closet smaller to add a shower?