Looking for some guidance on process/steps for purchasing and renovating our first house.

We are looking into the possibility of purchasing the house that we are currently renting from the homeowner. Home is a 1950's 2/1 inside the Houston loop. Work would include adding a master suite, move laundry from garage to interior, and fully renovating the existing bathroom and kitchen.

We are starting to reach out to contractors for quotes now and then were going to finalize the loan once we had an idea on renovation costs.

Is that the right process? What steps are we missing? Should we get a realtor involved to confirm current pricing of home or post renovation pricing on the house or help with the loan and paperwork needed?

Any help/tips/recommendations for contractors realtors etc. are greatly appreciated.

I'd like to talk to you. Email on profile. We have a loan program that will purchase, renovate and close the permanent mortgage in one transaction.

Make sure you have a good set of drawings so contractors are all bidding on the same project, plus you will need to submit drawings for permit and to make sure your addition is still within the building setback lines

Talk to jja79. Don't need a realtor. Hire a good, experienced architect and contractor.

Frost bank has a really good program as well

Frost does have a good program and I've referred a number of clients to them for pools and some remodeling loans. The OP doesn't own the property yet so he's got a different situation than what that program fits.

Not a ton of value add....but when possible i recommend not going too all-in on things before you live in the house for a bit (again, if possible. not always). Thankfully COVID hit and stopped us b/c we would have done several things differently as we were planning to remodel within 6 months of moving in. Now 1.5 years in our thoughts on several things have changed.

We re-finished all hardwood floors and added hardwood everywhere there was carpet before we moved in a single item and I am glad we did that b/c we still find dust on trimming, etc....

We just did this and it's a major project. Generally, you will need to use a contractor since you are financing and your options will be a design and build firm, hiring an architect and a builder, or hiring a builder who can do drawings.

If you can afford design and build do it, it will save you a ton of headache. If not hire an architect who works hourly and have them draw some options. Ask for.everything you think you'll want in the next 10 years in the drawings don't be afraid to ask.Look at Pinterest and Houzz for ideas. Then get structural engineering and soil samples done. I'd also pick out as many finishes as possible. Consider an interior designer, we were lucky enough to have two who were happy to be rewarded with dinner and drinks. It's hard to pick that stuff without seeing it. Now go to the builders, you will have everything need to get a solid estimate but be prepared to revise your scope on cost. Limit the number of allowances in bids amd if you can get the builder to agree, ask them to take a flat fee rather than a percentage of any allowances. What sucks is when you want to to upgrade something and it cost 20% more (builder fee) than it should

Get atleast 5 quotes, ask specifically about change order process, project management style and things you can do to avoid delays and cost over runs. I'll link my other thread on HI but happy to answer questions

No realtor needed but if you know one bounce your design against him/her/they ours made two awesome a suggestions 1.
To add a solar light to the bathroom and 2. To vault the ceiling in the master

We ended up putting over 300k in to get the addition and remodel done and scope was add bed bath and office (700 sq feet), redo the kitchen and add a pool

https://texags.com/forums/61/topics/3091809

Thanks for the info everyone. Met with a contractor this week and unfortunately he informed us that part of the property falls on the FEMA flood line and we would be extremely limited in what we can do for renovations without raising the foundation.



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are you the pin in the brown area? that looks like the 500 year.

I believe in Houston, you have to add a pretty significant amount of square footage to be subject to building out of the 500 (33%).

Yes, in the 500 year zone. The contractor said county permit office and banks will limit the amount you can renovate/borrow based on value of original structures. Per that contractor we would be looking at a cap of $25k for renovations.

We are getting a second opinion from another contractor and doing our own research to confirm.

I have not heard that. Seems strange but it is Houston.

we have a crap ton of homes in Westbury getting totally gutted and many are in the 500 so i'm doubtful that is really the case.

Also don't despair it might cheaper to wipe it off the face of the earth and start over

Is that White Oak Bayou? If so, a 2/1 is likely in the Heights or outskirts?

As someone said, I'd get a 2nd opinion. You might check w/your insurance co. & ask them what their data shows.

Yes, off of white oak bayou in Timbergrove.

You need a 2nd bathroom. It will be very hard to market a 3/1 down the road. Someone may want the dirt, so make sure you think about an exit strategy from that place.