We finally received our permits, and are in the final conversations with our contractor regarding pricing of the bid and the all-important contract.
Hopefully we can begin construction the second week of October.
Monday, September 22, 2008
Wednesday, January 9, 2008
First floorplans meeting
We had a meeting with the architects last night to review their thoughts on floorplan options. While we don't have the final and definitive version yet, the theme that is the core layout and flow is almost definitive.
So, until we can get you something definitive, we can tell you that we're looking at bridges, large windows, a cantilevered bedroom and what could be a very awesome staircase.
So, until we can get you something definitive, we can tell you that we're looking at bridges, large windows, a cantilevered bedroom and what could be a very awesome staircase.
Wednesday, December 5, 2007
Week 8.1: Starting with the Attorney
Larry is someone I've known for years. Saturday we went to his office to talk about the whole range of things we needed to do: title for the house, financing the house, living wills, wills, and all that stuff. Our goal was to start getting things taken care of. When we left, we had a much longer to-do list.
Item #1 on the agenda: Real Property
Here's our situation: I own the row house we will be renovating. Juan Felipe owns the condo we will be living in while we renovate. After the renovation, the plan is for us to both own 50% of the renovated row house, and 0% of the condo.
We can register as domestic partners in the District and avoid the transfer and recordation tax if I give Juan Felipe half the house. If we do that, however, the federal gift tax hits us. If I sell him half the row house, we avoid the gift tax problem, but then we get the transfer and recordation tax.
Another catch - while married couples can pay their bills however they want - we can't. We have to be able to demonstrate to the IRS that we have equally contributed to the house in order to avoid having estate tax due on the whole house when the first of us dies. Unlike my father and his wife, who each pay different bills, we have to be able to demonstrate that everything was paid 50/50. That adds a new item to the to-do list: get a joint checking account and keep scrupulous records about money in and money out of it.
The easy thing would be to trade half an interest in the condo for half an interest in the row house, but Virginia's vindictive constitution prohibits any contractual arrangements that could confer any "benefits of marriage" to same-gender couples. We would get probably be pounded by taxes there. This from the state (although they insist on being called a "Commonwealth") that tenaciously held onto laws making it illegal for different races to intermarry. Virginia is for lovers, but only if you're straight, married, and white.
We also need to find out what the mortgage lender may require on the title, as that will affect what we need to do.
Item #2 on the agenda: Powers of Attorney, Living Wills, etc.
We need to make sure that if anything happens to one of us, the other can take care of things. This is especially important as Juan Felipe does not have any family nearby. Another thing on the to-do list: find alternates for medical and financial decision making in the event we are both incapacitated.
Item #3 on the agenda: Prenup
If people get married and it doesn't work out, there is a whole set of statutes and case law for what happens when a marriage ends. Not so for couples that cannot marry. To avoid costly, lengthy court cases, we will need to work this out ahead of time.
Item #4 on the agenda: Wills
Larry had an interesting take on this. I think we had both assumed that if we went down on a plane together that our families should get the money. He pointed out there is no reason that needs to be the case. Sure, it would be nice to provide for our nephew's college (and for any other nieces and nephews we may get), but why give it to them if they don't need it? Another thing for the to-do list: what should happen to our money when we die?
I have give really short shrift to all of these issues. Consult an attorney if you want to know the painful, intricate details.
Tuesday night Juan Felipe opened a joint checking account for us with Bank of America. Who knew you could do that over the internet? He put $25 in, so now I owe $25.
Item #1 on the agenda: Real Property
Here's our situation: I own the row house we will be renovating. Juan Felipe owns the condo we will be living in while we renovate. After the renovation, the plan is for us to both own 50% of the renovated row house, and 0% of the condo.
We can register as domestic partners in the District and avoid the transfer and recordation tax if I give Juan Felipe half the house. If we do that, however, the federal gift tax hits us. If I sell him half the row house, we avoid the gift tax problem, but then we get the transfer and recordation tax.
Another catch - while married couples can pay their bills however they want - we can't. We have to be able to demonstrate to the IRS that we have equally contributed to the house in order to avoid having estate tax due on the whole house when the first of us dies. Unlike my father and his wife, who each pay different bills, we have to be able to demonstrate that everything was paid 50/50. That adds a new item to the to-do list: get a joint checking account and keep scrupulous records about money in and money out of it.
The easy thing would be to trade half an interest in the condo for half an interest in the row house, but Virginia's vindictive constitution prohibits any contractual arrangements that could confer any "benefits of marriage" to same-gender couples. We would get probably be pounded by taxes there. This from the state (although they insist on being called a "Commonwealth") that tenaciously held onto laws making it illegal for different races to intermarry. Virginia is for lovers, but only if you're straight, married, and white.
We also need to find out what the mortgage lender may require on the title, as that will affect what we need to do.
Item #2 on the agenda: Powers of Attorney, Living Wills, etc.
We need to make sure that if anything happens to one of us, the other can take care of things. This is especially important as Juan Felipe does not have any family nearby. Another thing on the to-do list: find alternates for medical and financial decision making in the event we are both incapacitated.
Item #3 on the agenda: Prenup
If people get married and it doesn't work out, there is a whole set of statutes and case law for what happens when a marriage ends. Not so for couples that cannot marry. To avoid costly, lengthy court cases, we will need to work this out ahead of time.
Item #4 on the agenda: Wills
Larry had an interesting take on this. I think we had both assumed that if we went down on a plane together that our families should get the money. He pointed out there is no reason that needs to be the case. Sure, it would be nice to provide for our nephew's college (and for any other nieces and nephews we may get), but why give it to them if they don't need it? Another thing for the to-do list: what should happen to our money when we die?
I have give really short shrift to all of these issues. Consult an attorney if you want to know the painful, intricate details.
Tuesday night Juan Felipe opened a joint checking account for us with Bank of America. Who knew you could do that over the internet? He put $25 in, so now I owe $25.
Week 8.1: Starting with the Architects
When we got back, we arranged another meeting with the architects. We set the meeting for 9:00 Thursday. Tip: When setting up a meeting, make sure everyone knows where the meeting will be. I assumed it would be at our house. Juan Felipe assumed it would be at their office. None of the e-mail messages we sent back and forth specified where we were meeting. I'm not sure why, but when I called their office around 10:00, somebody there answered on the first ring. They got the boss on the phone, and let us know it would be at our house.
John is one of the partners in the firm. Ultimately, he is responsible for the work they do on our house. Chris is the architect that seems to be doing the bulk of the actual work.
We discussed the contract, specifically the provision about the copyright. I wanted to make sure that we can take pictures of and in our house and use them. Not a problem. In addition to talking, we walked around the house again, Chris making a rough drawing of the floor plans. We set up a time for the next day for Chris to come over with another guy and take measurements of the house. The meeting on Thursday was about an hour. Measurements on Friday took over hours.
The following Wednesday, the contract was mailed, and 10% of the estimated architect's fees were paid. We really need to get the financing figured out.
John is one of the partners in the firm. Ultimately, he is responsible for the work they do on our house. Chris is the architect that seems to be doing the bulk of the actual work.
We discussed the contract, specifically the provision about the copyright. I wanted to make sure that we can take pictures of and in our house and use them. Not a problem. In addition to talking, we walked around the house again, Chris making a rough drawing of the floor plans. We set up a time for the next day for Chris to come over with another guy and take measurements of the house. The meeting on Thursday was about an hour. Measurements on Friday took over hours.
The following Wednesday, the contract was mailed, and 10% of the estimated architect's fees were paid. We really need to get the financing figured out.
Week 7: Vacation
After making such a big decision, we left the country for 10 days. We still have to meet with our attorney and get together with the architects we have selected when we get back.
Week 6: The Decision
We have decided on an architect. My job is to let them know and set up a meeting where we fork over the retainer fee. Juan Felipe will notify the firms we decided not to use. I also need to make an appointment with our attorney so we can, hopefully, get the financing settled before money becomes an issue.
I wish I could tell you we made a carefully calculated decision based on objective criteria, but that's not really how we did it. I do think we made a good decision, though. We know the quality and style of work they do, and we had a gut feeling they are the ones. I think we would have been happy with the other firm as well, but we had to pick one.
I wish I could tell you we made a carefully calculated decision based on objective criteria, but that's not really how we did it. I do think we made a good decision, though. We know the quality and style of work they do, and we had a gut feeling they are the ones. I think we would have been happy with the other firm as well, but we had to pick one.
Week 5: One More Architect
We interviewed the last architect today. It wasn't easy as a house across the street was burning down at the same time. Apparently, in the course of the fire, a propane tank exploded causing someone to call 911 and report an explosion. Well, an explosion ten blocks from the US Capitol beings law-enforcement types out from everywhere. The DC Police, Capitol Police, FBI, ATF and probably others were there as well. I got a call from the architects on my way home, as I was leaving Union Station, and I met them a block away. We snuck through the alley and in through the back door. Three houses burned. About 30 years ago, the same three houses burned. That time, someone died. This time it was only a dog. Four fire fighters were injured, one seriously.
We both had the same impression of this architect: that he would be telling us what our house would look like rather than building our house. He is very good, but we have concerns that his personality may not be a good match with ours. His fees are also the highest of any of the architects we have interviewed. The guy with him noticed changes made to the living room in the prior remodeling may be contributing to problems in the upstairs hallway. Good eye.
We both had the same impression of this architect: that he would be telling us what our house would look like rather than building our house. He is very good, but we have concerns that his personality may not be a good match with ours. His fees are also the highest of any of the architects we have interviewed. The guy with him noticed changes made to the living room in the prior remodeling may be contributing to problems in the upstairs hallway. Good eye.
Subscribe to:
Posts (Atom)