Forge Posted January 21, 2022 Share Posted January 21, 2022 2 minutes ago, MWil23 said: I’m getting a meeting setup to ask about this in a potential addition. My wife’s parents had one in their house, and the AC worked fine, but the heater if it got too cold wasn’t sufficient, so I’d recommend baseboard electrical. Granted by you, you probably don’t have to worry about it. Because its for the garage specifically, I'm concerned about inefficient heating / cooling with one. My house has 3 regular units for the house and casita, and they are fairly new, so I probably won't mess with them at all. I'm moderately concerned about the cost in terms of monthly usage, but I'm like 90% sure I'm going to buy solar panels for the house before the summer hits. Quote Link to comment Share on other sites More sharing options...
MWil23 Posted January 21, 2022 Share Posted January 21, 2022 1 minute ago, Forge said: Because its for the garage specifically, I'm concerned about inefficient heating / cooling with one. My house has 3 regular units for the house and casita, and they are fairly new, so I probably won't mess with them at all. I'm moderately concerned about the cost in terms of monthly usage, but I'm like 90% sure I'm going to buy solar panels for the house before the summer hits. Is your garage insulated? Does it have windows? Wall Mount units can be an effective option for contained spaces if so. Like you said, cost is a factor so a solar option would be great. I’ve contemplated it myself but it’s at least 5 years away realistically if we go this addition route. Hey here’s a random question for you: What financing options would I have for an addition that doesn’t involve a cash back refi or HELOC? Good credit and no debt aside from my house, not even a car payment. Quote Link to comment Share on other sites More sharing options...
NateDawg Posted January 21, 2022 Share Posted January 21, 2022 32 minutes ago, NickButera said: Oh man I had no idea we had this thread! Where have you guys been the past year. I completely demo'd my basement, walls ceilings, made built in murphy beds and wall niche's, redid all my lighting, floors, new drywall, gutted my kitchen and remodeled, new AC and furnaces. ....I feel a little idiotic trying to do it all myself when I had some quick help at my fingertips this whole time.... lmao Thread is a useful gold mine for sure. If I knew how to post pictures on here I would have a lot of before and after shots from work the past year. We bought a fixer-upper June 2020 and been getting after it since then. Quote Link to comment Share on other sites More sharing options...
Forge Posted January 21, 2022 Share Posted January 21, 2022 Just now, MWil23 said: Is your garage insulated? Does it have windows? Wall Mount units can be an effective option for contained spaces if so. Like you said, cost is a factor so a solar option would be great. I’ve contemplated it myself but it’s at least 5 years away realistically if we go this addition route. Hey here’s a random question for you: What financing options would I have for an addition that doesn’t involve a cash back refi or HELOC? Good credit and no debt aside from my house, not even a car payment. No, it's not. Honestly, I'll probably just kick out until later when I have the panels. At that point I really won't care about the efficiency lol Your best options are going to be a HELOC or Fixed rate 2nd, particularly if your first mortgage is in a nice state with regards to your rate and everything. Probably more or less comes down to a math problem, but I imagine the addition isn't nearly in the same range as your primary mortgage. If you don't have the equity to support the cost of the addition, then a renovation refi is probably your best bet, though that is going to be a full on refi of your primary mortgage. Quote Link to comment Share on other sites More sharing options...
NickButera Posted January 21, 2022 Share Posted January 21, 2022 1 minute ago, NateDawg said: Thread is a useful gold mine for sure. If I knew how to post pictures on here I would have a lot of before and after shots from work the past year. We bought a fixer-upper June 2020 and been getting after it since then. We did the same. Oct 2021 and have been remodeling it. I'll post pictures later when I get home. 2 Quote Link to comment Share on other sites More sharing options...
MWil23 Posted January 21, 2022 Share Posted January 21, 2022 3 minutes ago, Forge said: No, it's not. Honestly, I'll probably just kick out until later when I have the panels. At that point I really won't care about the efficiency lol Your best options are going to be a HELOC or Fixed rate 2nd, particularly if your first mortgage is in a nice state with regards to your rate and everything. Probably more or less comes down to a math problem, but I imagine the addition isn't nearly in the same range as your primary mortgage. If you don't have the equity to support the cost of the addition, then a renovation refi is probably your best bet, though that is going to be a full on refi of your primary mortgage. Cool thanks! What is a fixed rate second exactly? Yeah the addition wouldn’t be close to my mortgage thankfully. Quote Link to comment Share on other sites More sharing options...
NickButera Posted January 21, 2022 Share Posted January 21, 2022 Before: After: Draft Day Party lol: 5 Quote Link to comment Share on other sites More sharing options...
Forge Posted January 21, 2022 Share Posted January 21, 2022 1 minute ago, MWil23 said: Cool thanks! What is a fixed rate second exactly? Yeah the addition wouldn’t be close to my mortgage thankfully. It's just a straight loan as opposed a heloc which is open ended (can be used, paid, used again). A fixed rate second is basically the same thing as your primary. Just a closed ended loan (pay it off and it's done) that's secured by your property. Functions just like any normal loan. They basically give you a lump of cash to do with whatever you need to and you just make payments until it's satisfied. Talk to your CPA, but the interest you pay on those (and helocs) should still be tax deductible if you're using them for home improvement as well. 1 Quote Link to comment Share on other sites More sharing options...
Forge Posted January 21, 2022 Share Posted January 21, 2022 2 minutes ago, NickButera said: Before: After: Draft Day Party lol: I miss basements. We don't really have them here. Assuming you live in the midwest lol Quote Link to comment Share on other sites More sharing options...
NickButera Posted January 21, 2022 Share Posted January 21, 2022 Kitchen isn't quite done yet. Just got cutout the dining room passthrough and need to get the backsplash in. Paint the ceiling after I took out the soffit also. Floors are next. 1 Quote Link to comment Share on other sites More sharing options...
NickButera Posted January 21, 2022 Share Posted January 21, 2022 2 minutes ago, Forge said: I miss basements. We don't really have them here. Assuming you live in the midwest lol Actually no! West Coast (Lake Tahoe Area). Just found a really old neighborhood. We got lucky. There aren't a ton of basement homes here. 1 Quote Link to comment Share on other sites More sharing options...
Forge Posted January 21, 2022 Share Posted January 21, 2022 1 minute ago, NickButera said: Actually no! West Coast (Lake Tahoe Area). Just found a really old neighborhood. We got lucky. There aren't a ton of basement homes here. Damn, you did get lucky. We just bought another house in Vegas and we tried to find basement homes and they are practically non existent. I think we looked at maybe a half dozen that were listed at the time. We ended up opting for a home with a guest house or casita and ultimately settled on the latter. Quote Link to comment Share on other sites More sharing options...
NickButera Posted January 21, 2022 Share Posted January 21, 2022 1 minute ago, Forge said: Damn, you did get lucky. We just bought another house in Vegas and we tried to find basement homes and they are practically non existent. I think we looked at maybe a half dozen that were listed at the time. We ended up opting for a home with a guest house or casita and ultimately settled on the latter. We're Just north of you, As you go down from Tahoe to Reno there are some neighborhoods built in the 70s that are pretty overgrown with plant life (which you know is rare here in the high desert). But being in the hills and not in the valley afforded them to build some unique homes. I think there are even more when you get closer to the lake area homes. Quote Link to comment Share on other sites More sharing options...
Shanedorf Posted January 21, 2022 Share Posted January 21, 2022 1 hour ago, NickButera said: Interested in the murphy beds...where did you purchase them and are you happy with them ? We just started our project and I think they'd be perfect. thx ( we're in San Diego area) Quote Link to comment Share on other sites More sharing options...
NickButera Posted January 21, 2022 Share Posted January 21, 2022 4 minutes ago, Shanedorf said: Interested in the murphy beds...where did you purchase them and are you happy with them ? We just started our project and I think they'd be perfect. thx ( we're in San Diego area) We went through a local custom closet company. However we regret not going through California Closets, they should be in SoCal I'd imagine. I hear amazing things about them. 1 Quote Link to comment Share on other sites More sharing options...
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