The Benefits of Home Ownership?

[Orbert]

Not bad at all!  Mine were over $6000.00.

[Chino]

Damn. I got that done back in summer 2020 and it was only $1600. That was with them thinking I was getting a roof too.

I wonder what it'd cost at today's prices. I was talking to the contractor who did $8500 in tree removal for me that same summer. He said that same job would easily be $12,000 today. Probably more because I didn't need to rent cops for the two days to shut down my road. Covid had nobody on the roads, so they rolled the dice and didn't hire them.

[King Postwhore]

Not bad at all!  Mine were over $6000.00.

Leave guard, white. My house is probably smaller than yours Bob.

[Orbert]

We went with a company called LeafFilter.  We looked at Leaf Guard and all the others, and maybe it was just that the LeafFilter guy was a good salesman, but I never did understand how Leaf Guard was supposed to work.  It always looked to me like the leaves would not just flow over the little slit, but could easily drop into the troughs.  LeafFilter was more expensive, but with the lifetime warranty blah blah blah, it seemed worth it.  Also, yeah, we've got a lot of roofline.  It's a split-level house with a carport.  Much linear footage equals mucho dinero.

[jingle.boy]

We went with a company called LeafFilter.  We looked at Leaf Guard and all the others, and maybe it was just that the LeafFilter guy was a good salesman, but I never did understand how Leaf Guard was supposed to work.  It always looked to me like the leaves would not just flow over the little slit, but could easily drop into the troughs.  LeafFilter was more expensive, but with the lifetime warranty blah blah blah, it seemed worth it.  Also, yeah, we've got a lot of roofline.  It's a split-level house with a carport.  Much linear footage equals mucho dinero.

We had the LeafFilter guy out over the summer.  Sorry Bob, but it's a borderline scam.  High pressure sales tactics (ie, sign now or the price goes away), and their first quote started at $8000, and after 15 minutes of saying "no" to him, the price eventually worked it's way down to about $2000.  Even after another "we're not deciding today", and we were getting pretty fed up with him, he wanted to call his "regional VP" to speak with us.  Mrs.jingle lost her shit on him, and I practically had to throw him out of our backyard.  Did a little research afterwards, and the reviews of the product were pretty mixed.

It was the exact same selling tactics as time-shares, except in my backyard (and I didn't get a free DVD player)

[Orbert]

Well, shit.  The reviews we checked all seemed pretty positive.  It was a lot of money, but I figured if it was a superior product with a lifetime guarantee, then it made sense that it would cost more.

[T-ski]

So we’ve got a bit of a conundrum.

Our home insurance company sent us a letter about three months ago saying they would no longer be working with the agency we were going through so we needed to find a new insurance company. We worked with the agency and found a company we felt good about, did the paperwork and everything and thought we were set.

Yesterday we received a letter from the new insurance company saying they are terminating our coverage after they did a visual inspection of our house. Their reasonings were mildew stains on our garage (which takes 15 minutes to clean with our power washer), one crack in our foundation (it’s an 80 year old house), and our roof, which is about 15 years old, has “significant granular loss and is at the end of its life.” (which is not true at all).

I’d fix the crack but weather conditions in Wisconsin currently aren’t conducive to an effective fix and no way in hell am I paying for a new roof.

We now have approximately a month to find a new insurance company and are completely nervous another inspection will yield the same result.

[jingle.boy]

Da Fuq?  I've never heard of a home inspection for home insurance.  Then again, I think the general market and coverage for HI is different up here.  Like, my coverage only is for truly catastrophic issues (fire, floods, weather damage etc ...)  If my roof leaks, or I need to replace it ... that's on my own dime.

[axeman90210]

Soooooo any advice for a hopeful soon-to-be first-time homebuyer?

[Grappler]

Soooooo any advice for a hopeful soon-to-be first-time homebuyer?

Have fun and don't be afraid to make it "your own." 

[Stadler]

Soooooo any advice for a hopeful soon-to-be first-time homebuyer?

- Keep up with the little stuff.  Little stuff almost always becomes big stuff, and big stuff is almost always more expensive than the little stuff.

- Be realistic.  Shit's gonna happen, and it's part of doing business. 

- Have fun with it.  It's YOURS.  Make it yours. 

If this is on the horizon for you, I'm happy for you.  Good luck!!! 

(Oh, bonus tip: during the purchase phase, don't hesitate to get experts in to help you.  If you want an inspection? Don't let them bully you into not doing it; you can do an inspection without it being grounds for ending the purchase contract, which is what some sellers are worried about.  It's a weird psychological thing, but that water problem that you knew about and knowingly walked into "feels" better than the same - or lesser - water problem that you find out about six months after purchase.)

[lordxizor]

Make sure you budget and save for repairs and maintenance. You'll have a few small things every year and a big thing every few years. And learn to do minor maintenance and repairs yourself. You can find anything on YouTube.

[hefdaddy42]

Start watching HGTV immediately.

[cramx3]

Make sure you budget and save for repairs and maintenance. You'll have a few small things every year and a big thing every few years. And learn to do minor maintenance and repairs yourself. You can find anything on YouTube.

10 years in my house and I'm still a terrible handy man.  I can't do shit  thankfully, my gf moved in last year and her father has been super helpful with showing me how to do some things (replaced the hose valve otuside the house that froze, replaced the bath drain that started leaking, hooked me up with his power wash - he offered to do my house, I said no and did it myself, but he was there to help if needed).  I've been fortunate for that regard because those are kind of simple fixes that I could never do on my own and would pay a lot more money to get a professional in. 

I actually do have a much larger project to tackle this year.  My front steps are crumbling.  It's becoming a safety hazard as it's leading to the hand rails losing stability.  I need to get that fixed before someone gets hurt and sues me. Thinking the spring though because with the winter weather, it's going to deteroriate the steps further and so just got to survive with it a little longer.  I'll hire someone, no way I know what I'm doing there and my gf's father says he's got a guy. (my landscaper also offered to take on the job, but I'm not terribly trustworthy of him to do that).

[Nick]

Soooooo any advice for a hopeful soon-to-be first-time homebuyer?

If you're hopeful, I'm assuming you haven't had an offer accepted yet? In that case it's be realistic in your search. Especially when it comes to your abilities and what you're comfortable with. Know what your top priorities are, no what you can and can't live with. When it comes to things to be worked on, think about how soon, if you're able to do it, or if you'll have the additional funds to have someone else do it.

[axeman90210]

Thanks all. I'm still early in the process, I have a realtor and have been talking with a couple mortgage providers this week to gauge rates and my budget.

[Jamesman42]

Fill your house with stuff at your leisure as you make it your own. Maybe that's more true for me with 2 kids and not much time, but we took years to settle in and make our house feel like it was ours. We still want some things done, most importantly to paint the white walls, but it will get there. Part of the journey.

[Cool Chris]

So we’ve got a bit of a conundrum....

What was the result of this?

axeman90210,

Make sure you budget and save for repairs and maintenance. You'll have a few small things every year and a big thing every few years. And learn to do minor maintenance and repairs yourself. You can find anything on YouTube.

This, but while I don't mean to discount what others have said, but regarding maintenance and repairs, keep in mind just because you watched a TikTok or YouTube video of someone installing an outlet, that doesn't make you a journeyman electrician.    Sometimes it's just better to call a professional. Doing remodeling we see lots of "homeowner work" that usually ends up with us doing work more to fix the crappy work they did before we can get on with what we were originally hired to do.

Regarding the purchase, we did ours in 2009, in a totally different economic period. Unless there is an underlying urgency, I would start off by saying be patient.

[Jamesman42]

Our dishwasher recently was malfunctioning, and reading online how to fix it, it was straightforward and yet I had to get near cables but also some standing water at the bottom. I just don't like taking a chance of doing something wrong and getting electrocuted so I had the guy come out and look. I would've done it right but it wasn't worth the small and probably unwarranted fearful chance.

[Podaar]

Regarding the purchase, we did ours in 2009, in a totally different economic period. Unless there is an underlying urgency, I would start off by saying be patient.

This seems wise, to me. Odds are that interest rates will continue to fall until summer.

[hefdaddy42]

Sometimes it's just better to call a professional.

In my experience, you can remove that "sometimes" lol

[Chino]

Soooooo any advice for a hopeful soon-to-be first-time homebuyer?

Have fire extinguishers and plungers in multiple, easy to access locations. 

[cramx3]

Regarding the purchase, we did ours in 2009, in a totally different economic period. Unless there is an underlying urgency, I would start off by saying be patient.

This seems wise, to me. Odds are that interest rates will continue to fall until summer.

Patience is definitely a good thing to have in home buying.  And while I also lean to believe rates will drop, I wouldn't use that as a reason to hold off potentially buying a house you might fall in love with.  You just can't predict the market, but if the house is "the one" then I don't think there's a wrong time to buy (assuming you can afford it and are safe in your job).

[lordxizor]

Patience is really hard in my experience when purchasing a home. Of course there's never a perfect house, so you could always be waiting for that next house that's just a little better, or a little cheaper. I've never felt great about the houses we've bought. I always feel like we comprimised too much and paid too much. But we also had some unique criteria this last time which made houses that fit rare (5+ bedroom on more than an acre). Someday maybe we'll build the perfect house on the perfect land, but probably not. Just find a house that checks most of the boxes, that you feel pretty good about, make a reasonable offer, and hope for the best.

[faizoff]

Budget for unexpected repairs. In my one year of home ownership, I've had an unexpected patio ceiling collapse, an AC coil replacement and I just won the lottery a few hours ago with a burst water pipe in my lawn in the front yard. I'm in Florida so no freezing pipes though it has been unexpectedly cold on and off. Either way, not sure how much this is going to set me back and what portion of it I can DIY it.

[Podaar]

Make friends with the following people, and be certain that they owe you favors: A journeyman electrician, a plumber, an HVAC tech, a carpenter, a finish carpenter (they're different), and anyone who can lift 250 lbs over their head without grunting. Optionally, a sheet-rocker, a bricklayer, and a tile setter.

[jingle.boy]

Soooooo any advice for a hopeful soon-to-be first-time homebuyer?

Have fire extinguishers and plungers in multiple, easy to access locations.

Agreed.  Bedside table for the latter is crucial!

Budget for unexpected repairs. In my one year of home ownership, I've had an unexpected patio ceiling collapse, an AC coil replacement and I just won the lottery a few hours ago with a burst water pipe in my lawn in the front yard. I'm in Florida so no freezing pipes though it has been unexpectedly cold on and off. Either way, not sure how much this is going to set me back and what portion of it I can DIY it.

This.  So.  Much.

Also, plan to do minor improvements (eg, paint, light fixtures, door/cupboard handles ... ) so that you can make the house fit your own style.  The longer you leave it in the condition you moved in, the more it can feel like you're simply living in someone else's house.  Within a few years of owning both of my last two houses, we'd painted every surface (walls and ceilings), and replaced the flooring (all of it in my last house; main floor in my current house).

Make friends with the following people, and be certain that they owe you favors: A journeyman electrician, a plumber, an HVAC tech, a carpenter, a finish carpenter (they're different), and anyone who can lift 250 lbs over their head without grunting. Optionally, a sheet-rocker, a bricklayer, and a tile setter.

Good advice.  If you can't make those friends, at least know a reliable local mom/pop place for most of that - especially plumbing and HVAC.  We've had emergency plumbing and heat issues, and you want those people showing up pronto.

[King Postwhore]

This year I need to purchase a new furnace. A lot of green there bruhs.

[jingle.boy]

This year I need to purchase a new furnace. A lot of green there bruhs.

Did that last summer ... the AC went first, and the furnace was just as old and bound to go at any time, so we double-dipped - better discount when you combine the purchase, and last thing I need is the furnace dying in the middle of January.  We already had 2 other issues (naturally, both on a Sunday morning in winter) with the furnace.  I was kinda amazed to hear them say that furnace/AC are lucky to last 20 years nowadays.  I had to replace the furnace on my last house at 26 years.

[King Postwhore]

My nephew works in the field so well get a discount. We have a tankless hot water system. I'm lucky to get 5 minutes of hot water for a shower.

[Podaar]

My nephew works in the field so well get a discount. We have a tankless hot water system. I'm lucky to get 5 minutes of hot water for a shower.

Really?! Your unit is severely undersized then (not a euphemism). I have a tankless and I can shower indefinitely while the dishwasher and laundry washer are running.

[King Postwhore]

My nephew works in the field so well get a discount. We have a tankless hot water system. I'm lucky to get 5 minutes of hot water for a shower.

Really?! Your unit is severely undersized then (not a euphemism). I have a tankless and I can shower indefinitely while the dishwasher and laundry washer are running.

Gregg, my furnace is also 30 years old. Funny though, the sink has endless hot water.

[jingle.boy]

My nephew works in the field so well get a discount. We have a tankless hot water system. I'm lucky to get 5 minutes of hot water for a shower.

Really?! Your unit is severely undersized then (not a euphemism). I have a tankless and I can shower indefinitely while the dishwasher and laundry washer are running.

Yeah... that's the whole point of a tankless... it's a constant stream of hot water.  My only beef with it is how long it takes to actually get the flow of hot water going.

[jammindude]

For the first time in my life, I’m actually fairly financially stable. I’m two years into a salaried position as a building inspector for a small, local, fairly prosperous jurisdiction. But I only fairly recently got “back to black” and haven’t had the opportunity to save much. In fact, I make enough to get by, but I don’t have a lot off the top to stash away.

But now I’m 20 years into this home and I feel like everything is going to hit critical mass very soon.

I have a huge rear deck that is in massive need of repair. It is my only means of egress to the back yard, so I can’t just eliminate it.

My furnace is making horrible noises and is on the verge of going belly up.

I have a HUGE maple tree in my backyard that is in desperate need of topping. But I need to have it assessed as well.

There’s also an old hot tub shell in the backyard that the previous owner turned into a planter and planted a Japanese maple in it. Which was beautiful when we moved in, but a few over 100 degree days two summers ago killed the tree, and the hot tub shell/planter is falling apart and become an attraction for critters.

I’ve only got about 150k left on what is pretty much a 750k home…but it needs TLC and I’m not sure if I can afford payments on a home improvement loan or not.

So ya…this house needs about 50k of work.  We had the roof redone 17 years ago…but that might need to be redone within the next 5 years as well

[DragonAttack]

'New' home owner?  Depending on the age of your home, it could have the old clay pipes as the main drainage to your area's drains.  Eventually, tree roots will crack them and grow into.  We've been here for twelve years, and in our community of 369 homes, we'll see a handful having them dug up every year.  Our turn came last year.  Fortunately, it happened the day after returning from a trip, so the dog/house sitter didn't have to experience the back up (and I caught it before there was a huge mess in the basement while doing laundry).  $7800 later....

If we were to move, we'd mention that repair as a big selling point.

Home inspections:  some miss the obvious, like overwired fuse boxes, or water line shut off valves right above a fuse box (a big no-no).

Don't be turned off by the colors in the house.  We repainted all the rooms in our two homes we purchased but one.  Look at reasonable potential.
Hell, I finally panelled our small basement three years ago.  Being retired allowed me to remove the old shelving and closets and spruce it up at a decent daily pace.  Part of the joy is making the home into 'yours'.