The joys of home ownership.

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  • K_W

    Grandmaster
    Rating - 100%
    8   0   0
    Aug 14, 2008
    5,386
    63
    Indy / Carmel
    So... My wife and I have a house that's more than 1/2 paid for. Not bad for 27. :)

    Built in 1957, this house is a typical suburb boom, ranch style, single story 3 BR, 2 BA, 2 car garage, unfinished basement, hardwood floor, brick house. It's in great shape and we love it.

    But... It doesn't stay that way by itself.

    This year alone (365 days +/- 30) we have replaced a garage door, shower, plumbing x2 , water softener, and electrical outlets.

    First the garage door had been crooked since we got the house. It was original, was heavy, solid wood, partially rotten, and coated in lead paint. So that was $700 for a new light weight, insulated steel door, and tracks.

    Then came the water softener, $450 + $50 in plumbing parts.

    Next a water heater element, $38 + $9.99 socket.

    Then two weeks before Thanksgiving a tile fell off the shower wall while I was removing old caulk. The tile relieved wet moldy dry wall behind it. Off came 4 more tiles (by hand) which relieved that behind the tile was wet moldy plaster over more wet moldy drywall. So, down came the entire master bathroom shower. $600 in material and tools later, the shower is half finished, probably be done close to Christmas.

    But when we switched to the shower in the back bathroom, we found that there was a leak in it. After cutting a hole in a closet wall we found that there was a galvanized pipe from the fixture to the head that had rusted through at the threads. $10 in pipe fixed that, but I still have to patch the wall.

    Now today, we had a socket wear out and stop making contact and being a 50+ yo house it was a 2 prong plug. So I bought new 3-prong plugs to replace all the 2 prong plugs in that room (kitchen). After checking the boxes for ground wires and ground with an old fashioned neon tester light, and installing the outlets, we found that none of the outlets where grounding properly with a modern plug in tester. We traced the circuit branch and found the first box on the branch was in the living room; This box had proper ground when tested with the modern tester. So, we traced the grounds and found that there was a break in the ground wire, inside the plaster wall, between the first and second boxes in the living room. If we hooked a wire from the plate screw of box #1 to the plate screw of box #2 then all 6 boxes (including kitchen) had proper ground again. So we are going to have to run a new cable from the first box down into the basement and back up into the second box, or go into the attic and wade through 10" of blown cellulose insulation and hope to find a junction box with a bad connection.

    It's a mess here and I still have to hang the Christmas lights.

    But we still love this house. :patriot:


    P.S. When my wife bought the house in '07, it had lime green shag carpet ontop of the nice hardwood nearly throughout the house, mauve walls, peeling linoleum in the kitchen, mold in the basement ceiling, leaky basement, a bad roof, and a failing furnace. All that was fixed before we moved in (except the furnace, that was a surprise).
     
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    jblomenberg16

    Grandmaster
    Rating - 100%
    67   0   0
    Mar 13, 2008
    9,920
    63
    Southern Indiana
    As much "fun" as it can be, it is still fun in the end. I enjoy working on our house, and helped do a lot of the work when we built it. Looking forward to finishing the basement next!
     

    phylodog

    Grandmaster
    Rating - 100%
    59   0   0
    Mar 7, 2008
    18,960
    113
    Arcadia
    I feel your pain. I bought this house 6.5 years ago, it was built in 1990. I built a $4K privacy fence when we bought it and a $6K rear patio a few years later. Between 2010 & 2011 I've replaced a water softener, water heater, heat pump, roof & gutters and like you I have a master bathroom shower which is disintegrating and shedding tiles.

    The best part of it all is that since I bought it, I've poured around $25K into it and it's almost worth what I paid for it to begin with. Still needs new windows, kitchen cabinets, new shower and 2 new doors.
     

    Titanium Man

    Master
    Rating - 0%
    0   0   0
    Sep 16, 2009
    1,778
    36
    Indy---USA
    It's like running a restaurant, always something to do.

    Everyone dogs living in an apartment, but during those days, I did EVERYTHING!!!! Now, I'm always doing something around the house, or to the house, and my world semi-revolves around getting things done around the house. If you know eventually a house in on the agenda, enjoy the apartment life for its relative freedom.

    When you're ready and able to acquire stuff, buy a huge safe and build a house around it.:D
     

    Indy_Guy_77

    Grandmaster
    Rating - 100%
    16   0   0
    Apr 30, 2008
    16,576
    48
    Every time someone mentions "Ah...the joys of home ownership"...it makes me want to punch them in the throat.

    And I'm just about the most easy-going feller I know...

    *sigh*

    -J-
     

    Hoosier8

    Grandmaster
    Site Supporter
    Rating - 100%
    27   0   1
    Jul 3, 2008
    5,016
    113
    Indianapolis
    Tell me about it. My house was built in 1872 and has an Historic Landmarks covenant so I have to keep up the original wood siding and you can guess it takes a lot of exterior repairs/maintenance/painting and a couple of my windows are crumbling and need repair/replacement and if I do anything but repair them, I have to go before a board for any changes.

    I have the money to take care of it, but it is a pain.
     

    DaveL

    Marksman
    Rating - 100%
    3   0   0
    Aug 5, 2011
    278
    16
    Lafayette
    I just sold the house we lived in for 32 years. We will never own again. Went from 4,000 sq ft to 1,200. Forced simplification is wonderful. I was lucky though; I sold right on the front edge of the "replace everything" cycle. In general, I found my house needed everything replaced (not cabinets) about every 17.5 years. I don't think a house will ever be a good investment monetarily and will NEVER be a good investment time wise. I too enjoyed doing everything myself ... until I really thought about how much I would have enjoyed doing OTHER things.
     

    EvilBlackGun

    Master
    Rating - 100%
    5   0   1
    Apr 11, 2011
    1,851
    38
    Mid-eastern
    A financial hint from a former mortgage refinancer and lender.

    This can save you THOUSANDS of dollars, and it's almost FREE. Make of it what you will. Your bank or lender would NEVER tell you this secret. I'll just pencil in as a for-instance, that a homeowner's mortgage payment is $1,000. Again a surmise that of that $1,000 about $900 is interest, and the remaining $100 is the principle. So paying a $1,000 mortgage payment will reduce your total mortgage balance by only $100. Check your mortgage balance receipts to see that this is indeed the case, for whatever your actual figures are. And there is an easy way out, to painlessly pay off your mortgage in a LOT fewer years. You pre-pay just the PRINCIPLE; pay the $100 of principle, and don't pay the interest. The bank just keeps the interest anyway. Don't buy a few boxes of ammo, and accumulate the $100 principle amount. DON'T send it in with your regular monthly mortgage payment, unless there is a line to check for having it done. If there is a provision already for it, you can pay any amount ahead on your principle. And besides drastically reducing your balance, at the same time, you are increasing your equity, should you ever need it. Your Credit Score is going up, also. Give it a try. EBG
     

    Arm America

    Expert
    Rating - 0%
    0   0   0
    Jan 26, 2009
    1,381
    38
    West of Greenwood
    Every time someone mentions "Ah...the joys of home ownership"...it makes me want to punch a politician in the throat.

    ----------------------------------------------------------

    I've owned a few homes, made sacrifices, done without and
    completed most repairs and updates with the wife's help.

    Then, do to no fault of anyone here, I sit here knowing my neighborhood
    property values have dropped enough to suck up all of my sweat equity. ( lot$ )

    Words can't describe the complete and utter disgust I have
    for those in charge that not only allowed the housing market to disintegrate but actually orchestrated it.
     
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    Htrailblazer

    Sharpshooter
    Rating - 100%
    7   0   0
    Aug 13, 2010
    433
    28
    Franklin
    This can save you THOUSANDS of dollars, and it's almost FREE. Make of it what you will. Your bank or lender would NEVER tell you this secret. I'll just pencil in as a for-instance, that a homeowner's mortgage payment is $1,000. Again a surmise that of that $1,000 about $900 is interest, and the remaining $100 is the principle. So paying a $1,000 mortgage payment will reduce your total mortgage balance by only $100. Check your mortgage balance receipts to see that this is indeed the case, for whatever your actual figures are. And there is an easy way out, to painlessly pay off your mortgage in a LOT fewer years. You pre-pay just the PRINCIPLE; pay the $100 of principle, and don't pay the interest. The bank just keeps the interest anyway. Don't buy a few boxes of ammo, and accumulate the $100 principle amount. DON'T send it in with your regular monthly mortgage payment, unless there is a line to check for having it done. If there is a provision already for it, you can pay any amount ahead on your principle. And besides drastically reducing your balance, at the same time, you are increasing your equity, should you ever need it. Your Credit Score is going up, also. Give it a try. EBG


    Are you saying not to pay your regular payment and only the 100 principal payment? :n00b:

    Or are you just saying send in an extra 100 to pay more of your principal. which is no secret at all. It is basic financial wisdom.
     

    Mgderf

    Grandmaster
    Site Supporter
    Rating - 100%
    43   0   0
    May 30, 2009
    18,144
    113
    Lafayette
    Go rent the movie, "The Money Pit".

    You'll either laugh, or cry, or both yourself silly.

    Nothing like home ownership. Congrats, and keep your chin up. You're WAY ahead of the game for your age.
     
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