2 things, I’m a plumber. After a few years your gonna want to have your sewer scoped again for roots. Those roots will work their way back into your sewer. Also, after your rehab you may want to have you re house appraised. The renovations should add some equity to the property.
I couldn’t agree more with the sewer scope suggestion. We purchased our home in 2019 in within the first 6 months found out we had roots in our pipes and it cost 20k to fix. Now I recommended a sewer scope to anyone buying a house, it can save you so much!
@@chrislanejones This is our business and I can't complain, although my husband is really the one doing the work but I tell everyone who is in the market for a place to have a septic inspection and have the entire line camera'd. We do a ton of these but when people call and ask for an inspection they have no clue what that actually entails and I always recommend having the line camera'd!!! It's rather expensive but so worth it and don't buy a place without the completed inspection, which should include the septic system and the main line should be recorded. The cameras to do this type of work can cost upwards of $100 grand and even more!!
Good luck with all the renovations! On the flip side, even brand new homes have some flaws when you start finding areas where the contractors cut corners!
Exactly! 😅 in the long term it’ll all worth it in the end 😍 Btw if you’re looking for something to watch, I have a channel with videos from London and other places where I travel☺️
As a realtor I can tell you this is spot on. However, keep in mind that this home was built in 1960. They build homes using much different materials now. If you are intending to live in and remodel or purchase and flip one of these oldies, you had better allocate a lot of extra money to getting things to modern code or you'll never pass an inspection. Clay pipes, cast iron pipes, cloth wiring, old unsafe electrical panels and who knows what else lurk in these older homes. Modern homes will not have these issues to deal with.
Modern builders cut corners in other areas like cheap, poorly installed concrete that begins to fail shortly after the homeowner warranty expires. Improperly vented gas furnaces and water heaters that leak carbon monoxide into the walls. Inadequate foundation sealing which allows moisture infiltration. Bare minimum wiring potentially causing the home owner to spend thousands on electrical upgrades. Siding so loose it falls off the house in light winds. Most of these will not show up in the average inspection, at least in my state. California may be more stringent.
@@bugatti314159 more specifically TRACK home builders. It might seem like a good idea to buy in a cookie cutter neighborhood from a nationwide builder but they’re the WORST. I’ve been in the industry 10 years and will tell anyone to go with a custom smaller local builder, they actually care and this is their livelihood on the line. I get constant calls from homeowners about shoddy work from the big guys but rarely ever hear complaints from people who hire custom builders. You get what you pay for!!
@@Desert_Dreamin024 Definitely. The local "walmart" of cookie cutters is throwing up hundreds of houses simultaneously. We have looked through many of their houses just for curiosity and they all had issues. I feel sorry for the people buying them but some have no choice with the insane real estate market right now.
Shelby, Thank you for being transparent of your real experience on buying and owning a home and going through remodeling and repairs. Its a pain and I personally don't want to deal with it after having a year of repairs and remodeling projects. Home ownership isn't all glits and glamour.
One good thing out of all of this: you will know that home inside and out by the end of the renovation! Also, when something breaks that you can’t handle, you have a contractor and a team of professionals that will be there in a jiffy to fix whatever it is. Still enjoying the daily reno vlogs on your other channel. ❤️
Shelby you are an inspiration!! I lost my job due to the pandemic. Since then, I’ve started a TH-cam channel on money… And it is growing!!! Thank you for all of your content, and everyone else, never give up!
@@BrianClarkpharmd Veritas. It is also true that when something begins you start getting closer to the end. I have “owned” my house for decades....but I also know in only a few years I won’t be able to do basic maintenance....too old, too fragile (fall off a ladder). Soon I will sell my house & I will move on & the new folks will be willing imprisoned by ownership.....
A sewer scope is a great inspection to have when buying a home. We had a sewer scope done and it looked clear at the time but years down the road roots crept in and then you get to repair the damage done. Oh the joys of home ownership.
A seasoned realtor would have RECOMMENDED the sewer inspection. Plus, a GOOD home inspector would have identified the electrical and mold issues and recommended a separate electrical and mold inspection. At the very least, you could have been in a position to negotiate for some serious seller credits. That's a real shame.
Hahaha. This was me when I thought it might be a good idea to develop a side hustle flipping real estate. I did one house, had a complete nightmare, lost money and never did it again. The stupid tv programs don’t show the blood sweat and tears it involves.
You become wiser as you get more experience in renovations. You'll still be ahead in the end, its a nice house/yard. Not sure why you need a hottub in paĺmsprings. Its so hot there.
You can make money flipping homes, but you make all your money on the day you buy the home for a significant discount. You can't buy a decent home and expect to have a margin by pouring more money into it. You want to find the house no one in their right mind would buy. You want torn drywall, stained carpet, electrical problems, and so on. And you want to pay what it's worth, which is next to nada.
Wow, I just got out of a home buy, it was a bad house flip, in that it was sloppy. But as you know homeowners are supposed to disclose the issues you talked about. I got out of everything by paying a home inspector 350.00. He discovered stuff the homeowner didn’t disclose. I then was easily able to pass, on it, but not without my real estate agent trying to con me into purchasing it. So when back on the market it was bought by someone else immediately. Buyer beware.
Happy Birthday Shelby. I believe that everyone should have the best birthday that they can in this new year in a safe way and that includes you. So have an amazing birthday today.
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Every new home or used home buyer should be required to watch this video. I have bought a couple homes and these things are 100% unavoidable, so you just need to be prepared. Great job on this video!!!!
Also when shopping for financing, it's important to watch the "points" which is a flat fee for doing the loan. Lenders will cut the interest rate, but add points to make up for it. That can add thousands of dollars, and you're paying interest for 30 years on the points as well.
@@Angelcake1371 The lender charges a fee for creating a loan, and rather than you paying out of pocket, they add it to the loan amount. You can pay it out of pocket, which is much better in the long term. One point is 1% of the loan amount. Rather than call it percent, they call it Origination Points, which I feel like is a tactic to make it not sound expensive.
Loving all the renovation videos from both you and Monica. As well as Tara, so blessed!! Thank you for making good content in these uneasy times. Thank you!! 🥰
Yes! I am first time home buyer and I am going through this exactly the same process right now. I have learned so much by doing allot of the details my self by working alone side with the contractor. It is very true by visiting the property once with the inspector will not find anything useful for later. The best thing for buying a old house or condo really is just to check the lighting and direction of the property is facing, which is something you can not change for sure. I would suggest to gut it out completely and it will save you more money down the road and keep a healthy life in the long run. With my condo, it looks all ok from surface, once we start digging, everything is Rotten under the surface, we end up spending more and more on material. Also be careful with contractor you choose to work with, I end up fire 2 contractor team in this process and last one I found in front of the Home Depot is perfect. But you really have to have some knowledge of what they are doing, understand the right material is a key, other wise those contractor will screw you left and right.
I really lucked out when I bought my house. My realtor knew it was my first time buying a home and explained most of these to me so I wasn't blindsided. I just assumed most realtors would do the same but I guess not!
Really great video, and very informative! We are looking to buy a home soon and you tackled things we never thought about. Good luck with the rest of renovations!
In buying a house new or old always run the water in all sinks, tubs washer lines. To make sure they all drain. In the past houses that were foreclosed had plaster of Paris and other such products to plug plumbing. In many new homes arguments between contractors have caused sabotage. You also need a real inspector go through to discover hidden problems. . Be sure to make accurate real estimates as repairs can tun you 50% more than you estimated have A/C and heating checked and only buy newer units as old units may need replacing almost immediately
I have bought and sold 12 houses over the last 40 years, we live in the 12th one and don't plan to sell. Reality TV shows on this are not what it's like in real life. Renovations take longer are always more expensive than you planned. Still a great investment, but the best investments have been in stocks; less hassle.
Yes definitely agree with number one 1! And this kind of problem happens everywhere, we bought our home Branford Ontario and the trees that were on the front property did the same thing to our clay pipes. Thousands and thousands of dollars later we had to replace the clay pipes and get a scope to clean out. Luckily my husband is really handy and did a lot of the work too but we still had to pay a lot of money. This is such a great investment for you and it will do very well in the future. It is such a cool AirBnb and it’s going to be amazing!!!!!
I just LOVE your approach to video making. I watched at first to see how you structure things. I’m trying to deconstruct them to be honest. But, time after time, I end up watching the whole thing. You are kind of magician in my mind. Love your work and appreciate your skills so much. Your new fan....Andy
Hi Shelby! I love your content and love that you provide so much value to us subscribers. You provide real content that is so essential to young people!
I'm so happy to have found your channel. You are a very smart young lady financially, and though I'm a bit older than you, I definitely value your input and respect you. It's so very refreshing to see such a young adult on TH-cam that is so motivated and so financially sound, rather than most TH-camrs your age that upload nonsense. Thank you. I have subscribed to your sister as well. ❤
Also some insurance companies will cover sewer pipes or water pipes. Here in Colorado when we first moved into our house our neighbors were talking about how the water lines going from the street to the house more than 50% of them fail and need replacing which can cost anywhere between $5k and $25,000. Luckily I called my insurance company and they said it was already covered under our policy for 35K.
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I’m sure the previous homeowner knew about the sewer. The agent may have known also. If so, that’s a disclosure issue and the agent could be liable. I wouldn’t have re done the concrete, I would have put in grass. Welcome to home ownership. Hope you got the house at a good price. And yes, once it’s all done you’ll be happy and also have gained a lot of experience in the renovation world. Cheers from Northern Ontario Canada.
I really liked the last point that the buyers remorse will pass. That happened with our home - there was so much more than we expected! But we got through it and love our home.
I wish I would have searched for these kinds of videos before we bought my house. This is really helpful. Thanks for sharing your experience and tips! I bought my house in the middle of winter and the inspector couldn't check the air-conditioning. Once summer came we found out it didn't work at all and that we have to replace it completly.
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Totally! And I was so not aware of all these costs 😅 Btw if you’re looking for something to watch, I have a channel with videos from London and other places where I travel☺️
I've bought and sold 11 houses/condos/townhouses now and every time I think I've got it figured out - something surprising comes along. It doesn't get much better with experience. You just have a better idea of what to expect but even then - you won't know everything. I think the best rule of thumb is to take your estimated reno expenses and add 30%. That might get you close ;) Thanks for sharing Shelby!
I love your house and upgrade share videos. I‘ve spent a lot of time in Palm desert. Nothing is more relaxing than the pool in the spring. It’s like a resort out there. I realized the cost of the backyard at the beginning, but I think in this particular case it is totally worth it and you will recoup it. You may find you need a overhang? Roll out or built? I’m so happy for you guys. I want a house out there. 👍😂
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You’ll get all your money back easily because the value of the house will go up after renovations and also I believe in the meantime it will be a good income source for you guys! can’t wait to see when it’s done and for the update
Buyers remorse is a real thing but as you noted it does go away. I have done many renovations to my place. The sense of pride you develop is a real thing...
Buying a house it feels like there is always something to enhance or fix lol loving the house vlogs it’s so inspiring and can’t wait to see it once it’s all Complete ❤️👍🏼
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This is very unfortunate to have these issues. A few things people might want to know buying for the first time: In California, buyers should not be paying fees to a Realtor typically. Sellers pay the buyers agents for bringing them clients. Usually the 6% listing fee to sell is a commission split between the selling and buyers agents (that fee is negotiable by the way). Additionally, Realtors should not be giving or assigning monetary costs to renovate or remodel unless they have a contractors license through that state. Inspections: We always recommend getting a pest inspection (this will identify wood destroying insects and molds, such as dry rot), home inspections (will not cover the following - interior wiring and buried plumbing, pre-1975 homes - asbestos inspection, roof inspection (some loans require a separate roof certification, like VA or FHA, banks want to know if the home will still be habitable during the duration of a 30-year loan), chimney inspection (if applicable), and septic inspection (if applicable). If there is an in-ground pool, always get that inspected. I talk people out of more homes than I sell. If you have contractor or carpenter friends take them with you to look at houses prior to submitting an offer. You can always negotiate points on your loan into the deal as "seller credits". Realtors do get a bad wrap, and sometimes rightfully so...
I think they saved money They each make more than $300k/ year and Monica made a video on how they both were able to save like $100K in a joint account 🤷🏻♀️
If you have to take out a loan for the cost of renovation, then you most likely shouldn't be in this line. There are so many costs in rehabbing that paying interest on a loan is just too much off the bottom line. If I had to guess, I would say over 90% of flippers are all cash from start to finish. The other 10% are soon to be not doing it.
As far as u having a home inspection (subject to purchasing the house) -- the inspector should have known that the very long roots of the trees/plants were blocking the pipes -- since the water in ur house was backing up. He didn't want to mess up the sale - I had the identical situation when buying an old home in 1986. Many home inspectors are also incompetent. I always say NEVER pay points --- $5,000 - was way too much. Better to pay a little higher interest rate. You also could refinance at a lower rate now - and the $5,000 would be a loss. Buying an old home has lots of challenges - and it's stressful having to deal with all the construction. I'm happy that u now love ur home.
Great video. I hope this helps people. I am in real estate and it’s unfortunate how not all of this is communicated by agents. There really just isn’t enough practical training for agents. Even if they don’t know the answer they should know how to point you in the direction where you can research it yourself.
omg the same thing happened to me with the plumbing at my house!! first weekend there and the basement/garage was completely backed-up and flooded - turns out there was a huge tree root blocking the main pipe (legit same haha) my house was built in 1956 and i think it's funny that basically everything you said in this vid is way too relatable 😂
Next time bring a contractor during the home inspection he/she can give you a more accurate estimate. But I assume you would have bought the house anyway because of the market we’re in
Nicely done, keep doing the updates, it's great info for new and repeat house buyers. Would love an update on final cost vs your estimate (no real numbers needed, just how many times more was it) and what work was done (like I had no idea about pool wiring etc)
My mom tells me to expect a 12-20% over estimate for the renovations you want and to do them at the same time in the timeframe of when you’re purchasing/looking to purchase/building so you can get the keys all at once and all done before you move in :)
Rent, rent, rent. Real estate is like a boomer trap unless it's a hot market area where the property will increase in value over time regardless of any improvements done. Since this is a profit generating project I wonder if some land lords would agree to allow you to AirBnB the property as long as you meet the rent because you'll be doing all the work of listing, booking, arranging cleaning, paying for staging, furniture and photos, etc. Good luck in Palm Springs Shelby!
Same!! I’ve watched so many videos about this house!😍 Btw if you’re looking for something to watch, I have a channel with videos from London and other places where I travel☺️
I bought a rental house recently, it was built in 1957.... I got the sewer line scoped and it showed it needed replaced. I estimated it would cost $10k Canadian to change it out, and negotiated with the seller that they would take $5k off the price of the house. It ended up costing me $8k to replace. Always get an older house sewer line scoped!
2 things, I’m a plumber. After a few years your gonna want to have your sewer scoped again for roots. Those roots will work their way back into your sewer.
Also, after your rehab you may want to have you re house appraised. The renovations should add some equity to the property.
Then your taxes immediately go up!
You only need a new appraisal when ur ready to sell.
I couldn’t agree more with the sewer scope suggestion. We purchased our home in 2019 in within the first 6 months found out we had roots in our pipes and it cost 20k to fix. Now I recommended a sewer scope to anyone buying a house, it can save you so much!
20k time to leave web development and become a Sewer Scoper and Sewer Maker.
Indeed - a sewer scope & a colonoscopy
@@chrislanejones
This is our business and I can't complain, although my husband is really the one doing the work but I tell everyone who is in the market for a place to have a septic inspection and have the entire line camera'd.
We do a ton of these but when people call and ask for an inspection they have no clue what that actually entails and I always recommend having the line camera'd!!!
It's rather expensive but so worth it and don't buy a place without the completed inspection, which should include the septic system and the main line should be recorded.
The cameras to do this type of work can cost upwards of $100 grand and even more!!
This is incredible to hear actual *COSTS* wow. I'm surprised and this was very specific and helpful.
Exactly! She’s always so real but also gives me headache 😅
First 5-7 years after buying the house, there was a breakdown that one needs to hold to be in great shape for making gains.
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Good luck with all the renovations! On the flip side, even brand new homes have some flaws when you start finding areas where the contractors cut corners!
Exactly! 😅 in the long term it’ll all worth it in the end 😍 Btw if you’re looking for something to watch, I have a channel with videos from London and other places where I travel☺️
As a realtor I can tell you this is spot on. However, keep in mind that this home was built in 1960. They build homes using much different materials now.
If you are intending to live in and remodel or purchase and flip one of these oldies, you had better allocate a lot of extra money to getting things to modern code or you'll never pass an inspection.
Clay pipes, cast iron pipes, cloth wiring, old unsafe electrical panels and who knows what else lurk in these older homes.
Modern homes will not have these issues to deal with.
Oh I’ve learned 😩 we upgraded the electrical panel and have to get a lot of other random stuff fixed
Modern builders cut corners in other areas like cheap, poorly installed concrete that begins to fail shortly after the homeowner warranty expires. Improperly vented gas furnaces and water heaters that leak carbon monoxide into the walls. Inadequate foundation sealing which allows moisture infiltration. Bare minimum wiring potentially causing the home owner to spend thousands on electrical upgrades. Siding so loose it falls off the house in light winds.
Most of these will not show up in the average inspection, at least in my state. California may be more stringent.
@@bugatti314159 we live in a society where they don’t make things to last, but to break so you have to BUY MORE! 😅 it’s a shame
@@bugatti314159 more specifically TRACK home builders. It might seem like a good idea to buy in a cookie cutter neighborhood from a nationwide builder but they’re the WORST. I’ve been in the industry 10 years and will tell anyone to go with a custom smaller local builder, they actually care and this is their livelihood on the line. I get constant calls from homeowners about shoddy work from the big guys but rarely ever hear complaints from people who hire custom builders. You get what you pay for!!
@@Desert_Dreamin024 Definitely. The local "walmart" of cookie cutters is throwing up hundreds of houses simultaneously. We have looked through many of their houses just for curiosity and they all had issues. I feel sorry for the people buying them but some have no choice with the insane real estate market right now.
Shelby, Thank you for being transparent of your real experience on buying and owning a home and going through remodeling and repairs. Its a pain and I personally don't want to deal with it after having a year of repairs and remodeling projects. Home ownership isn't all glits and glamour.
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One good thing out of all of this: you will know that home inside and out by the end of the renovation! Also, when something breaks that you can’t handle, you have a contractor and a team of professionals that will be there in a jiffy to fix whatever it is. Still enjoying the daily reno vlogs on your other channel. ❤️
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Shelby you are an inspiration!! I lost my job due to the pandemic. Since then, I’ve started a TH-cam channel on money… And it is growing!!! Thank you for all of your content, and everyone else, never give up!
Dude you have 12 views. Calm down.
@@love_nyc_ Got to start somewhere
@@love_nyc_ what an awful thing to say ! How about encourage the individual and wish them luck!
@@Neil_S. No, it's called REALITY.
On way to 12 million you pass 12. Fact.
I have owned my house for over 30 years. I have learned that in many ways you think you own the house but the house owns you
Wow.. that’s very true 😅
Btw if you’re looking for something to watch, I have a channel with videos from London and other places where I travel☺️
@@VASIGTravelingLifeinLondon I love London. Been there often!
Not to mention, thanks to property taxes, you never really own your house
@@BrianClarkpharmd Veritas. It is also true that when something begins you start getting closer to the end. I have “owned” my house for decades....but I also know in only a few years I won’t be able to do basic maintenance....too old, too fragile (fall off a ladder). Soon I will sell my house & I will move on & the new folks will be willing imprisoned by ownership.....
@@alexius23 great! What do you like about London?😍 it’s so empty now though😅 I can’t recognize the city!!
Can’t wait to stay in this house once it’s finished and on Airbnb!
facts!
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A sewer scope is a great inspection to have when buying a home. We had a sewer scope done and it looked clear at the time but years down the road roots crept in and then you get to repair the damage done. Oh the joys of home ownership.
There were a lot of things done that were "wanted" not "needed". You always pay more for the things you want.
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@@sushmitasingh673 stop spamming!!!
A seasoned realtor would have RECOMMENDED the sewer inspection. Plus, a GOOD home inspector would have identified the electrical and mold issues and recommended a separate electrical and mold inspection. At the very least, you could have been in a position to negotiate for some serious seller credits. That's a real shame.
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Hahaha. This was me when I thought it might be a good idea to develop a side hustle flipping real estate. I did one house, had a complete nightmare, lost money and never did it again. The stupid tv programs don’t show the blood sweat and tears it involves.
Flipping houses sounds so stressful to me now haha
You become wiser as you get more experience in renovations. You'll still be ahead in the end, its a nice house/yard. Not sure why you need a hottub in paĺmsprings. Its so hot there.
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You can make money flipping homes, but you make all your money on the day you buy the home for a significant discount. You can't buy a decent home and expect to have a margin by pouring more money into it. You want to find the house no one in their right mind would buy. You want torn drywall, stained carpet, electrical problems, and so on. And you want to pay what it's worth, which is next to nada.
Wow, I just got out of a home buy, it was a bad house flip, in that it was sloppy. But as you know homeowners are supposed to disclose the issues you talked about. I got out of everything by paying a home inspector 350.00. He discovered stuff the homeowner didn’t disclose. I then was easily able to pass, on it, but not without my real estate agent trying to con me into purchasing it. So when back on the market it was bought by someone else immediately. Buyer beware.
Yeah Real Estate agents can be skeevy....
you need a better buyer agent.
@@fenomfrey4639 Realtors are all the same - they're out for the commission. The words, "Buyers Agent" make no sense.
Happy Birthday Shelby. I believe that everyone should have the best birthday that they can in this new year in a safe way and that includes you. So have an amazing birthday today.
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Thanks for covering this about getting a sewer pipe inspection and mold. It's always good to be reminded and informed for when I'm able to buy.
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Doing a proper Inspection and shopping around for the best mortgage rate can save you a good amount of money and time in the long run.
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Every new home or used home buyer should be required to watch this video. I have bought a couple homes and these things are 100% unavoidable, so you just need to be prepared. Great job on this video!!!!
Also when shopping for financing, it's important to watch the "points" which is a flat fee for doing the loan. Lenders will cut the interest rate, but add points to make up for it. That can add thousands of dollars, and you're paying interest for 30 years on the points as well.
Could you explain more? I’m new to this
@@Angelcake1371 The lender charges a fee for creating a loan, and rather than you paying out of pocket, they add it to the loan amount. You can pay it out of pocket, which is much better in the long term. One point is 1% of the loan amount. Rather than call it percent, they call it Origination Points, which I feel like is a tactic to make it not sound expensive.
I get it. Our home we bought in May was built in 1830 so it has a lot of old quirks. And we had to replace a sewer line to fix tree's roots too.
Loving all the renovation videos from both you and Monica. As well as Tara, so blessed!! Thank you for making good content in these uneasy times. Thank you!! 🥰
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@@sushmitasingh673 stop self promoting
I just had that happen to me in Florida. The tree roots grew into our pipes and caused a terrible mess.
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Shelby is so intresting how she explains stuff good job shelby for explaining stuff
Yes! I am first time home buyer and I am going through this exactly the same process right now. I have learned so much by doing allot of the details my self by working alone side with the contractor. It is very true by visiting the property once with the inspector will not find anything useful for later. The best thing for buying a old house or condo really is just to check the lighting and direction of the property is facing, which is something you can not change for sure. I would suggest to gut it out completely and it will save you more money down the road and keep a healthy life in the long run. With my condo, it looks all ok from surface, once we start digging, everything is Rotten under the surface, we end up spending more and more on material. Also be careful with contractor you choose to work with, I end up fire 2 contractor team in this process and last one I found in front of the Home Depot is perfect. But you really have to have some knowledge of what they are doing, understand the right material is a key, other wise those contractor will screw you left and right.
I love her energy
I really lucked out when I bought my house. My realtor knew it was my first time buying a home and explained most of these to me so I wasn't blindsided. I just assumed most realtors would do the same but I guess not!
You got lucky ! Majority of real estate agents have no clue what things cost and are just after the commissions
Most realtors know as much as the buyer.
I bought a house in July 2020 and in 30 days had to pay $14000 for a new sewer line. Same thing happened to me, tree roots in the pipes.
Really great video, and very informative! We are looking to buy a home soon and you tackled things we never thought about. Good luck with the rest of renovations!
Congrats on the baby!! 🙌🏾🙌🏾
Nobody gives a shit
In buying a house new or old always run the water in all sinks, tubs washer lines. To make sure they all drain. In the past houses that were foreclosed had plaster of Paris and other such products to plug plumbing. In many new homes arguments between contractors have caused sabotage. You also need a real inspector go through to discover hidden problems. . Be sure to make accurate real estimates as repairs can tun you 50% more than you estimated have A/C and heating checked and only buy newer units as old units may need replacing almost immediately
I have bought and sold 12 houses over the last 40 years, we live in the 12th one and don't plan to sell. Reality TV shows on this are not what it's like in real life. Renovations take longer are always more expensive than you planned. Still a great investment, but the best investments have been in stocks; less hassle.
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Yes definitely agree with number one 1! And this kind of problem happens everywhere, we bought our home Branford Ontario and the trees that were on the front property did the same thing to our clay pipes. Thousands and thousands of dollars later we had to replace the clay pipes and get a scope to clean out. Luckily my husband is really handy and did a lot of the work too but we still had to pay a lot of money. This is such a great investment for you and it will do very well in the future. It is such a cool AirBnb and it’s going to be amazing!!!!!
I just LOVE your approach to video making. I watched at first to see how you structure things. I’m trying to deconstruct them to be honest. But, time after time, I end up watching the whole thing. You are kind of magician in my mind. Love your work and appreciate your skills so much. Your new fan....Andy
I love the helpful content on here, it applies to everyone at some point in their life
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We paid $150 for a sewer scope on our house and it ended up saving us $10,000.
Money Moves!!
That’s very wise!!👏🏼 I honestly never even though of looking into this when buying a house 😅
@@VASIGTravelingLifeinLondon there are other things too, we paid extra for a radon inspection and a mold inspection.
Actually very helpful. As an immigrant in the US I'm buying my second property, first house ( the first property was a lot) and this great advice.
@@thewaltersshow609 maybe not themselves but definitely their ancestors... I've been here for approximately 6yrs.
Welcome to America Gabi!
Hi Shelby! I love your content and love that you provide so much value to us subscribers. You provide real content that is so essential to young people!
I'm so happy to have found your channel. You are a very smart young lady financially, and though I'm a bit older than you, I definitely value your input and respect you. It's so very refreshing to see such a young adult on TH-cam that is so motivated and so financially sound, rather than most TH-camrs your age that upload nonsense. Thank you. I have subscribed to your sister as well. ❤
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The tree roots thing!!!!! Happened at my house. I just put tree root killer down the pipes every 6 months to take care of it.
Also some insurance companies will cover sewer pipes or water pipes. Here in Colorado when we first moved into our house our neighbors were talking about how the water lines going from the street to the house more than 50% of them fail and need replacing which can cost anywhere between $5k and $25,000. Luckily I called my insurance company and they said it was already covered under our policy for 35K.
Thanks for your comment,
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Good thing you have 1.63 million subs. Keep the content coming. You do great work
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I’m sure the previous homeowner knew about the sewer. The agent may have known also. If so, that’s a disclosure issue and the agent could be liable. I wouldn’t have re done the concrete, I would have put in grass. Welcome to home ownership. Hope you got the house at a good price. And yes, once it’s all done you’ll be happy and also have gained a lot of experience in the renovation world. Cheers from Northern Ontario Canada.
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I really liked the last point that the buyers remorse will pass. That happened with our home - there was so much more than we expected! But we got through it and love our home.
I wish I would have searched for these kinds of videos before we bought my house. This is really helpful. Thanks for sharing your experience and tips!
I bought my house in the middle of winter and the inspector couldn't check the air-conditioning. Once summer came we found out it didn't work at all and that we have to replace it completly.
Great Video! So helpful, thanks!
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Wish to buy my own place soon this is so inspiring ❤️
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Hi from Seattle miss that rain .
never knew about the sewer scope inspection or that the home inspection didn't cover these things!! thanks for the letting us know!!
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This is a great and very detailed informative video.
Totally! And I was so not aware of all these costs 😅 Btw if you’re looking for something to watch, I have a channel with videos from London and other places where I travel☺️
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These new estate videos are soo helpful, thanks. STONKS😍🚀
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I've bought and sold 11 houses/condos/townhouses now and every time I think I've got it figured out - something surprising comes along. It doesn't get much better with experience. You just have a better idea of what to expect but even then - you won't know everything. I think the best rule of thumb is to take your estimated reno expenses and add 30%. That might get you close ;) Thanks for sharing Shelby!
I love your house and upgrade share videos. I‘ve spent a lot of time in Palm desert. Nothing is more relaxing than the pool in the spring. It’s like a resort out there. I realized the cost of the backyard at the beginning, but I think in this particular case it is totally worth it and you will recoup it. You may find you need a overhang? Roll out or built? I’m so happy for you guys. I want a house out there. 👍😂
Great video! I just wish I saw your video before buying my first home last year I had all the same issues that your house did
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I LOVE all of your house renovation vlogs!!!
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Thank You So Very Much for the heads up Shelby😊
You’ll get all your money back easily because the value of the house will go up after renovations and also I believe in the meantime it will be a good income source for you guys! can’t wait to see when it’s done and for the update
Buyers remorse is a real thing but as you noted it does go away. I have done many renovations to my place. The sense of pride you develop is a real thing...
Love your videos! I learn so much from you. I peeped your PR t-shirt. You have great taste!💜💜💜
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Buying a house it feels like there is always something to enhance or fix lol loving the house vlogs it’s so inspiring and can’t wait to see it once it’s all
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Could you please do a video on the rental Airbnb rules for Palm Springs?
Hey Shelby as usual amazing advice keep up the great work
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Seen a shelby truck black was real nice
you got good Contractors looking at those photographs and that is definately a Blessing
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Yeah Graham is going to react to this
Good point about sewerage inspection.
All things aside, this place will be amazing once it's done 🙌🙌
Great info!!
Hey there :))
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This is very unfortunate to have these issues. A few things people might want to know buying for the first time:
In California, buyers should not be paying fees to a Realtor typically. Sellers pay the buyers agents for bringing them clients. Usually the 6% listing fee to sell is a commission split between the selling and buyers agents (that fee is negotiable by the way). Additionally, Realtors should not be giving or assigning monetary costs to renovate or remodel unless they have a contractors license through that state. Inspections: We always recommend getting a pest inspection (this will identify wood destroying insects and molds, such as dry rot), home inspections (will not cover the following - interior wiring and buried plumbing, pre-1975 homes - asbestos inspection, roof inspection (some loans require a separate roof certification, like VA or FHA, banks want to know if the home will still be habitable during the duration of a 30-year loan),
chimney inspection (if applicable), and septic inspection (if applicable). If there is an in-ground pool, always get that inspected. I talk people out of more homes than I sell. If you have contractor or carpenter friends take them with you to look at houses prior to submitting an offer. You can always negotiate points on your loan into the deal as "seller credits". Realtors do get a bad wrap, and sometimes rightfully so...
Do you have to take out another loan for the cost of renovation? Or did you save money for renovation also?
I’ve been wondering this as well
I think they saved money They each make more than $300k/ year and Monica made a video on how they both were able to save like $100K in a joint account 🤷🏻♀️
If you have to take out a loan for the cost of renovation, then you most likely shouldn't be in this line. There are so many costs in rehabbing that paying interest on a loan is just too much off the bottom line. If I had to guess, I would say over 90% of flippers are all cash from start to finish. The other 10% are soon to be not doing it.
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This video is very realistic unlike others. Thanks!
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Always get asbestos inspection too for really old homes
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As far as u having a home inspection (subject to purchasing the house) -- the inspector should have known that the very long roots of the trees/plants were blocking the pipes -- since the water in ur house was backing up. He didn't want to mess up the sale - I had the identical situation when buying an old home in 1986. Many home inspectors are also incompetent. I always say NEVER pay points --- $5,000 - was way too much. Better to pay a little higher interest rate. You also could refinance at a lower rate now - and the $5,000 would be a loss. Buying an old home has lots of challenges - and it's stressful having to deal with all the construction. I'm happy that u now love ur home.
Great video. I hope this helps people. I am in real estate and it’s unfortunate how not all of this is communicated by agents. There really just isn’t enough practical training for agents. Even if they don’t know the answer they should know how to point you in the direction where you can research it yourself.
This is all so very important! Thank you!
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Thanks for the tips Shelby! As someone who plans to be looking for a house at some point in the near future, I found it very helpful and interesting!
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Genius video! Who should you ask to check for mold? Also I would love to hear more about actual cost of demo and reno etc
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Glad to see you're almost at the finish line, I am sure will be worth it!
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omg the same thing happened to me with the plumbing at my house!! first weekend there and the basement/garage was completely backed-up and flooded - turns out there was a huge tree root blocking the main pipe (legit same haha) my house was built in 1956 and i think it's funny that basically everything you said in this vid is way too relatable 😂
Next time bring a contractor during the home inspection he/she can give you a more accurate estimate. But I assume you would have bought the house anyway because of the market we’re in
Nicely done, keep doing the updates, it's great info for new and repeat house buyers. Would love an update on final cost vs your estimate (no real numbers needed, just how many times more was it) and what work was done (like I had no idea about pool wiring etc)
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Great video, really interesting. It has been so fun to follow your house renovation vlogs 😁
This videos supper informative and helpful, thanku!
My mom tells me to expect a 12-20% over estimate for the renovations you want and to do them at the same time in the timeframe of when you’re purchasing/looking to purchase/building so you can get the keys all at once and all done before you move in :)
Rent, rent, rent. Real estate is like a boomer trap unless it's a hot market area where the property will increase in value over time regardless of any improvements done. Since this is a profit generating project I wonder if some land lords would agree to allow you to AirBnB the property as long as you meet the rent because you'll be doing all the work of listing, booking, arranging cleaning, paying for staging, furniture and photos, etc. Good luck in Palm Springs Shelby!
Awesome info Shelby! Your house is looking so good now!
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Think of how much smarter you are now, and better skilled to do this successfully in the future! Great job on the video too.
cool video lots of great information
I'm starting the process (pre-approval step) and I'm super excited!
This video makes me feel so much better about my purchase.
Omg. I am so happy that I chose a boring, basic old house.
Great video. Very informative. Love the Prince shirt .
Loving the home buying or owning vids!
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9:23 I subscribed to your channel when I saw your t-shirt 💜🌧
Thank you for the advice!
Amazing video! Can’t wait to see it done!
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So helpful!!! Renovations are definitely a costly endeavor
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Hoping all the renovations work out, can't wait to see it finished!
Same!! I’ve watched so many videos about this house!😍
Btw if you’re looking for something to watch, I have a channel with videos from London and other places where I travel☺️
@@VASIGTravelingLifeinLondon sweet I'll check it out!
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You are an inspiration. Thank you for your honest input on everything.
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With a house older than 30 years a home warranty is one option to look into. It can cover sewer, roofs, mold, appliances, ect.
I bought a rental house recently, it was built in 1957.... I got the sewer line scoped and it showed it needed replaced. I estimated it would cost $10k Canadian to change it out, and negotiated with the seller that they would take $5k off the price of the house. It ended up costing me $8k to replace. Always get an older house sewer line scoped!
I've been loving all the videos related to the house.