The things they don't teach you when you buy a house.

914Driver said:

I swear I didn't know.

Need to be "roto-rootered" based on slow flushing - which is easily discovered yet speculative?

... or because tree roots compromise the drain every couple years?

In reply to Toyman! :

In Illinois there's a questionnaire that requires a yes/no answer and they hit the topics - flooding, leaks, radon but no fill in the blank answers are required.

OHSCrifle said:

Budget 2-4% of the home's value for repairs, maintenance and upgrades.

Annually.

Some years you skate. Other years you get crushed... but having something available makes that stuff a lot easier to stomach. 

Wow, I don't think I've hit that number in a single year, except maybe the 2% when doing a kitchen remodel. DIY helps a lot with the budget :)

When I was young I worked on my house to sell and reap a profit. As I approach retirement, I feel like I'm improving my house for the next guy that buys the house and erases all my improvements when I'm dead.

Keith Tanner said:

OHSCrifle said:

Budget 2-4% of the home's value for repairs, maintenance and upgrades.

Annually.

Some years you skate. Other years you get crushed... but having something available makes that stuff a lot easier to stomach. 

Wow, I don't think I've hit that number in a single year, except maybe the 2% when doing a kitchen remodel. DIY helps a lot with the budget :)

Well - Grand Junction is fairly expensive so the percentages vs true costs to do things can get skewed. My point is don't go into home ownership thinking only about mortgage, taxes and insurance.

Here are some of the not inexpensive "maintenance and upgrade" things I've done to my (46 year old) house in the last ten years:

• paint inside
• paint outside
• replace roof
• replace HVAC
• replace windows
• new hardwood floors
• finish basement
• remodel a bathroom
• turn electrical panel
• re-insulate attic
• replace concrete driveway
• new kitchen counters and appliances
• replace deck

The kind of things that should make my house worth more than a non updated 50 year old house when I go to sell... or at least make it nice and comfortable in the meantime. 

914Driver said:

In reply to mad_machine :

"Things they don't tell you when you buy a house".

possibly OT, but how much DO you disclose?  
Selling my (deceased) parents 3BR Ranch, asking $214k, which I thought was a lot.  Got an offer for $234k.

Growing up there and recent stuff, I know the pipes should be Roto-Rootered.  Do we tell the buyer or buyer beware bye bye?

I feel bad about Plan B.

How much is it for them to come out? If it's $500, just do it and you only get $19,500 over what you think was a high price anyway. Why not be the good guy?

Back to wallpaper and paint.  My FIL was a painter, apprenticed in Scotland and had a business in this country so he knew his stuff.  His paper jobs looked great and stayed up.  Most importantly they came off without major drama.  He always picked the paper and put it up.  I just stood there and handed him stuff.  

New painting drama, son bought a house with oil and latex on the walls.  It peels off like rubber sheets.  Had a discussion with the contractor(her family), I felt it needs to come off but he just wants to spray primer on and paint again.  Great excuse for me to avoid helping in the future!

OHSCrifle said:

Keith Tanner said:

OHSCrifle said:

Budget 2-4% of the home's value for repairs, maintenance and upgrades.

Annually.

Some years you skate. Other years you get crushed... but having something available makes that stuff a lot easier to stomach. 

Wow, I don't think I've hit that number in a single year, except maybe the 2% when doing a kitchen remodel. DIY helps a lot with the budget :)

Well - Grand Junction is fairly expensive so the percentages vs true costs to do things can get skewed. My point is don't go into home ownership thinking only about mortgage, taxes and insurance.

Here are some of the not inexpensive "maintenance and upgrade" things I've done to my (46 year old) house in the last ten years:

• paint inside
• paint outside
• replace roof
• replace HVAC
• replace windows
• new hardwood floors
• finish basement
• remodel a bathroom
• turn electrical panel
• re-insulate attic
• replace concrete driveway
• new kitchen counters and appliances
• replace deck

The kind of things that should make my house worth more than a non updated 50 year old house when I go to sell... or at least make it nice and comfortable in the meantime. 

Ouch! That's why I'm glad I bought my house the day it went on the market. 

It had been a total loss to smoke damage, so everything was new when I bought it 6 years ago. Flooring, windows, roof, granite countertops, paint, HVAC, water heater, etc.

The only thing it really needs to be done is have the chimney repaired to be safe/usable. 

And with the insanely hard water here, I expect having to replace the water heater in the next few years.