Sunday, March 9, 2014

Renovation Finished & SOLD!

It all happened so fast. Our renovator finished the renovations a few weeks ago. While we were waiting for the photographer to take the photos, we put up the for sale sign at the front window. Then before we even had a chance to list, a realtor called. Before you know it we had an offer. This Friday we officially sold the place.

Here are the final numbers compared against originally planned.

Estimated: 
$215,000 purchase
$20,000 renovations (the townhouse is similar to Mom & Dad’s townhouse we just renovated) $15,000 for Realtor fess, lawyer fees, etc.

Estimated Cost: $250,000
Estimated Sale price: $290,000

Actual:
$215,000 purchase
$18,622 Renovations
$19,984 Realtor Fees, Lawyer Fees, Condo Fees, Utilities, Property Taxes, Interest payment etc.

Actual Cost: $253,606
Actual Sale Price: $293,500

So we made $39,894. About $106 less than the $40,000 we estimated. Not Bad! To be honest I think we got very lucky because the Calgary housing market is pretty hot.  But $40,000 good profit so if we had a hard time and the time on market dragged on we were prepared to take less profit.  Also, the rental potential is great for this place so that was going to be our backup plan. 

Now we are pumped to find the next project.

Sunday, January 12, 2014

Update on the Reno Project

We took possession of the townhouse this week.  We already had a couple of quotes for the renovation and decided on a renovator.  He's already started the demolition.  Of course we could make even more money if we did the renovation ourselves but realistically that was not going to happen in a timely manner.  With the renovator, he said he will bed one early February, which is a good time to list it.  If we were to do it, with our busy schedules it won't be done for months.

The renovator's quote was quite reasonable.  Looks like we will still be within the $20K budget including buying new appliances.

Thursday, November 28, 2013

Renovation Project bought!

It's been a long process and lots of waiting.  But the Reno project I wrote about is bought.  We take position in early January.  This is perfect timing because Beau and I will be back from our vacation around the same time.

Wednesday, November 27, 2013

Steps

Nov 27 - 5416 steps

Actually this Saturday was even more pitiful.  I walked 2890 steps.  Thankfully, I snow shoed about 10km on Sunday so that makes up for it.

I actually really enjoyed snowshoeing.  It's cheap and easy to do.  And the trails are beautiful.  I talked to Beau afterwards (he couldn't make it) and we are going to try to get out there more. 

Thursday, November 21, 2013

Walking with my Pedometer

I've noticed a weight gain in the last year.  Not much, around 8 pounds?  But I'm using the weight loss goal as a opportunity to get my health back on track.  This is why I picked up this booked called Flex Diet.  It's suggest weight loss by making lots of small changes.  The idea is the small incremental changes will lead to big results.  One of the many suggestion is to wear a pedometer.

This speaks to me.  I've noticed that I lead a very sedentary life recently.  Even worse because most of my sitting seem to be happen in front of a computer screen.  This pedometer hopefully will motivate me to walk more and get away from my computer more frequently.

I thought it might be fun to track my steps too. 

Nov 21: 9511 Steps.  I thought I would have been much less.  But I did do a lot after work today because Beau and I had to go to Ikea and Costco. .