We bought our first investment property!

July 28, 2022

Written by 

Sarah Richardson

We bought *ANOTHER* house! It has been a whirlwind last few weeks. Ty and I were casually browsing Zillow when I stumbled upon a house in our neighborhood just down the street. The price was higher than what I wanted in another home, so I sadly closed the app and and moved on. Two weeks later, the home is still available! So out of curious, we had to see it and one thing lead to another and….

OUR OFFER WAS ACCEPTED.

So here’s the juicy details. Ty and I have always been interested in real estate as an investment. But, it had to be for the right house, at the right time, and of course, the right price. The reason we were so interested in this particular property is that it is down the street from us! It is in the exact neighborhood that we live in now. We will have quick access to be able to fix this house up the next 6 weeks before we rent it out.

So what have we been up to the last couple weeks? Our offer was contingent upon inspections and appraisals. The original owner lived here for 40 years and the house has been empty for the last 6 months. We hope there would be nothing too major as we loved this house! Thankfully, Ty and I had friends/ family come in to help so after the general inspections, we were able to also have professionals inspect the Roof, Exterior, Plumbing, Electrical, Air Conditioning and Chimney.

INSPECTION COSTS

General $530
Plumbing $250
Electrical $195
Chimney $125
Air Conditioning $0
Exterior Wood $0
Roof $0
TOTAL $1100

Now that the inspections are over, we can focus on the house closing and final paperwork. We are set to close August 18th if everything goes well. We cannot wait to get in this house and start cleaning it up. For some fun facts, the house has 5 full bedrooms and three full bathrooms downstairs. The main living space opens up into this beautiful open concept kitchen which is what really sealed the deal for us. We will share the final house cost break down but for now, enjoy the sneak peak of this kitchen!

Cant wait to bring you all along!

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I'm so glad you're here. I'm Sarah, a retired NCAA Division I volleyball player who bought my first house after college and fell in love with all things home improvement. From design, DIY, and thrifting, you can find it all here. I hope you will be inspired and encouraged to make your house a home.

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