What Does A $60K Condo Look Like?
I realize one important part of having a blog is being transparent. I share my successes and have even opened up about a few speed bumps on my journey.
When I tell people that I bought my condo with cash, they usually expect some type of shack, because I live in the DC Metro Area (Things are expensive here). If you have ever heard of the show The Real Housewives of Potomac, that is about 30 minutes from where I live.
In the spirit of HGTV, when I bought this place it was not in pristine condition, like it is now :). No, I did not move in right away, I worked on it for 30 days before moving in.
The reason I am sharing this with you, is to motivate you to set high goals and regardless of what people say, believe in yourself. Buying a condo with cash is way out of the norm, almost unheard of in today’s society.
When I would share this goal with my friends, co-workers, and even my family I was met with “Phil, you need to be realistic” or “That will never happen”. I still love to hear those words today about my current goals because I already know I can do it.
Here is my condo!!!
Before I moved in I hired a company to take all of the carpet out and put in new floors. Also, My Dad and I painted the whole condo which took several weekends to complete. Once the cosmetic part was complete I got new furniture to go inside :).
Floors - in the whole condo $2500 850 sq. ft.
Fresh Paint - $200
Furniture - $1200
Boat Pic – Free (Mom’s old house)
Coffee Table - $40 (Facebook yard sale)
I have this weird thing about using old appliances. :/ They were old so I got all new stainless steel appliances installed. I also resurfaced the cabinets and counter tops myself and put in the new temporary floors. One project I will eventually get to is putting in a whole new kitchen!
Appliances - $1800
Resurfaced Cabinets and Counter tops - $120
I know nothing about plumbing and don’t trust myself with a wet saw, to cut tile. So this one was not completed until 1 year after I moved in. The bathroom worked perfect, however it wasn’t the nicest looking, clearly. I did take off the handles on the wall myself and caulk the holes.
New Bathroom - $5000 (After 1 year living here)
The dining room as you can see was a little junky. The previous owner left several items in there when I bought it, and I sold those on Facebook yard sale. The table is actually my girl friends grandmothers and the courier is from my Mom’s old house… I am not that fancy in real life lol. I have started the picture collage wall too.
Table – Free
Courier – Free
All in, I spent $10,860 on upgrades, $5000 of that on the bathroom which was done 1 year after moving in.
So.........What do you think? I am no HGTV host or Fixer Upper prodigy, but I think it turned out pretty good. All this with no mortgage?!?!?! Sign me up 🙂
One side note--I do realize that location is very important. Where I live currently, it wouldn't be my first choice to raise a family, however, for a guy and his dog it works for now.
What are you goals? Have you set any crazy goals? Have you done something crazy that people said you could never do?