Have you ever wondered what it would take to buy a house and get it ready to rent as an airbnb?
Well, I've been finding out.
Just over two years after buying our property, we will hopefully have it ready to rent soon. We're hoping to have our first guests come stay this summer.
When we bought our house, we weren't able to focus solely on getting it in shape to rent. My husband had (has) a full time job, and I was taking care of two toddler-age foster kids for the first six months into ownership. We've also taken weeks and months off the project when we've gone out of town, went home for the holidays, or just had to focus on commitments at the home/house. So even with the help of my nineteen-year-old son, it's been slow progess.
There were four major tasks: 1) getting the whole house painted (including all the dark molding everywhere, my major time eater), 2) finding and buying all the furniture and accessories, 3) getting the waterfront excavated and boathouse built and 4) setting the house up as a vacation rental, something we've never done before.
So we're hopefully 4-5 months out from renting, and how are we doing?
As for 1) getting the house painted: we're almost done! Finally! I was told by my friend April, who is planning to manage the property for us, that we could have rented it as-is when we bought it, and lots of painting wasn't necessary. But because the house felt so dark, and because we want to use it when it's not being rented (and have it feel like our house), I felt like it was necessary to paint it. If it stayed dark and dated, and didn't look great, I didn't feel I'd be able to charge much for renting it. And if the house isn't great, would renters want to return? My hope is to find some great renters who want to return regularly.
As for 2) finding all the furniture, etc: that is 90% done. And was that a task! Aside from countless trips to estate sales, Goodwill, retail stores and craigslist pickups, we rented a uhaul many times to cart furniture bought in Nashville to here. And many, many carloads. At this point, I'm down to some very particular needs furniture-wise. As I put the house together in the next few months, I can determine what is left to get.
3) The waterfront excavation: so, months away from (hopefully) getting this rented, we still haven't done a thing to the not-very-user-friendly waterfront. It took almost a year to find someone help us make a plan for the land and get our permit approved by the state. Then the excavator/dock builder interviews...but we tentatively have someone lined up to do the land excavation and hopefully the work will start within the next two months. The excavator said it should take a week. Then we'll have to get the yard back in shape.
We decided to wait on the dock build until after summer, as just having the waterfront done should make it rentable this season, and the sooner we have some income coming in to help cover the excavation/dock build, the better. (I'm guessing the entire project will be in the ballpark of $100,000.)
And then I have to cross my fingers and hope the (only) dock builder I found last year is still interested and willing to do it!
And finally, 4): setting the house up as an airbnb. I haven't even started on this yet. This will consist of all kinds of little things: setting up the website, learning the best ways to outfit a vacation rental (as in, how many rolls of toilet paper to put out? Should renters have access to cleaning products? etc.). We also want to put locks on closets that are for our personal things; we need to set up a security system, iron out the management details with our property manager, etc. Certainly, this will take more time than I anticipate.
Funny, this is not the post I intended to write today, and in the interest of not making it too long, I think I'll wrap this one up for now and post my progress update tomorrow.
I'll just leave this with one small update, that is actually HUGE to me:
When we bought this 1970's-built house, one thing I totally loved (love) about it are two enormous stone fireplaces, one downstairs, one up. But one thing the living room fireplace just seemed to be missing? A mantle! The fireplace was just an enormous rock focal point with nothing on it.
After a lot of discussion, above the fireplace seemed like the best place to locate the tv, so that's where it went. But it still seemed a bit naked. I love, love, love fireplace mantles. There's no better place to put candle and vases of flowers. And that's what's missing!
One gloomy Saturday morning last February, I remember drinking my coffee early in the morning with a book (of course) and quiet piano music (of course), and I couldn't help but think that what really was missing were some candles glowing on the fireplace mantle that didn't exist.
But finding a mantle maker proved just as challenging as finding a wall-finisher, a dock builder, and everything else.
Finally, after contacting several possible carpenters, and having them all fall through, I was just about to lose hope when we got a new next door neighbor, who just so happens to own a contracting company with a great reputation. ("He's expensive but does very good work" I was told.) That's a great new neighbor!
So long story short, after nearly two years, we finally had a mantle consultation with the new neighbor who is planning to install a mantle for us in the next month or so.
Yes!!!
And here are the pics of what's to come:
I found these cedar slabs on craigslist; a guy was selling them who was processing trees on his property. These 8' long, 3" thick slabs were around $100 each.
I thought they'd make perfect mantles, it just took some time to locate a maker.
The new neighbor was very impressed with the wood!
The fireplace now - isn't it missing something?
Our neighbor (the contractor) put that piece of duct tape in the center where the mantle's going to go.
That plank is heavy (!) and will involve drilling into the stones to mount it.
It's funny; once we installed the tv I realized for the first time that the fireplace opening is not centered.
How did that happen?
(It becomes pretty obvious when something is centered above it!)
Oh well - it's the little quirks that make it home, right?
Because our neighbor said there would be a lot of dust from drilling when installing the mantle, and because he's going to varnish the mantle in place once it's installed, I have been waiting to finally (!) get our living room set up till the project is done. (Finally set up = mess out, final furniture brought in and placed, rug and artwork placed.
After two years of living with a house-in-process, it's finally going to resemble a home, and I could not be more excited about it!
Just in time to turn the keys over to renters...