Almost two months ago we published a blog on the site in regard to buying a new home in St. Petersburg, Florida. Rebecca and I were under contract on a property that would be our first home. The contract ended up falling through due to the appraisal coming back low, so we lost the deal. At first we were pretty bummed because we really liked the house and it had a great pool. With that being said, there were a lot of renovations that would need to be made in order for it to be an ideal Airbnb property. Quite frankly we wouldn’t have had the money to make those renovations so it would be a slow process.
We ended up finding another property for sale that was just up the street from the other home. It didn’t have a pool but it did have an extra room, bathroom, and two car garage. Even better–it was listed for $40,000 less. We put an offer in that day and were under contract by the weekend.
As of last week we closed on the home and are officially home owners. No more renting, woohoo!
The bad news–the house needs a lot of work. It was completely renovated with high-quality materials but the workmanship was terrible. Lucky for us I am quite the negotiator and got the sellers to write us a check for $15,000 that would go toward fixing the botched renovation. Don’t worry–I hired a different contractor to do the work!
We are pretty excited as we feel this house has GREAT potential for an Airbnb property. Right now we are working on renovating the interior of the house. Here is the list of renovations that are being done:
- Master bedroom
- Master bathroom
- Full kitchen
- Guest bathroom
- Guest bedroom
- Wood floors
We are also working on the landscaping and are trying to find someone to put up a new wood privacy fence for the back yard. We are furnishing the entire house to be Miami-style contemporary with an emphasis on making it Airbnb accessible.
I will post more updates as the house comes together. Stay tuned and look for our new property on Airbnb!