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For you youngsters; The truth about owning a home
Posted on 12/20/22 at 10:07 am
Posted on 12/20/22 at 10:07 am
Besides your mortgage & escrow, you should expect to drop another $5K/yr average on upkeep & maintenance.
I’ve owned for 20+ years, and I’m convinced it’s a scam.
Renting sucks for the lifestyle compromises, but it’s probably more cost effective.
I’ve owned for 20+ years, and I’m convinced it’s a scam.
Renting sucks for the lifestyle compromises, but it’s probably more cost effective.
83
Posted on 12/20/22 at 10:08 am to Eli Goldfinger
quote:
you should expect to drop another $5K/yr average on upkeep & maintenance.
My house is almost 100 years old and I don't pay $5k per year in upkeep and maintenance
Posted on 12/20/22 at 10:09 am to Eli Goldfinger
It can go either way. Get a good deal on a house during right time period, know how to fix shite yourself, and sell at right time it works out well. You can also pay out the arse for rent
Posted on 12/20/22 at 10:09 am to Eli Goldfinger
You millenials should be happy that you’ll never be able to afford a house
As a boomer, I hate how I always have to fix up my house that cost 12k in 1985 and the worst part is there’s some nagging woman that lives there!
As a boomer, I hate how I always have to fix up my house that cost 12k in 1985 and the worst part is there’s some nagging woman that lives there!
Posted on 12/20/22 at 10:09 am to Eli Goldfinger
quote:
Renting sucks for the lifestyle compromises, but it’s probably more cost effective.
Tell me you haven’t rented in 20 years without telling me
Posted on 12/20/22 at 10:09 am to Eli Goldfinger
quote:
you should expect to drop another $5K/yr average on upkeep & maintenance.
maybe your house just isn't great, slick
Posted on 12/20/22 at 10:09 am to Eli Goldfinger
quote:
you should expect to drop another $5K/yr average on upkeep & maintenance.
Naw
Maybe $1k
Posted on 12/20/22 at 10:09 am to Eli Goldfinger
quote:
Besides your mortgage & escrow, you should expect to drop another $5K/yr average on upkeep & maintenance.
Jesus man, there’s no way.
Posted on 12/20/22 at 10:09 am to Eli Goldfinger
Can't say I've spent $5k a year on maintenance/repairs pretty much ever with the two houses I've owned.
Upgrades on the other hand....
Upgrades on the other hand....
Posted on 12/20/22 at 10:10 am to Eli Goldfinger
The first few years of owning a newly built home are the salad days, after that there is always something that needs attention and it often requires big chunks of money to fix (correctly).
Posted on 12/20/22 at 10:10 am to Salmon
Yeah, I’ve got a rental property that I haven’t laid eyes on in 16 years and have barely spent 5k in upkeep in all of that time
Posted on 12/20/22 at 10:12 am to Eli Goldfinger
How much equity do you have in your rental after 30 years.
Houses are maintenance items. Nobody said it would last forever.
What maintenance are you doing year over year for 20 years that costs $5k a year? Appliances go out every 5-10 years. Only one I can think of is the air conditioner that costs more than $5k.
Houses are maintenance items. Nobody said it would last forever.
What maintenance are you doing year over year for 20 years that costs $5k a year? Appliances go out every 5-10 years. Only one I can think of is the air conditioner that costs more than $5k.
Posted on 12/20/22 at 10:12 am to Eli Goldfinger
quote:
$5K/yr average
the house i just sold i spent that much every couple of months cutting down trees.
:caddontmissthosetrees:
Posted on 12/20/22 at 10:13 am to Eli Goldfinger
Don't forget homeowners and flood if you need it. Thankfully I inherited my house and it is paid for.
Posted on 12/20/22 at 10:13 am to Eli Goldfinger
On my third house over 18 years and have never even come close to spending that much money
Posted on 12/20/22 at 10:14 am to WhiskeyThrottle
quote:
Appliances go out every 5-10 years.
what appliances are y'all buying? I've been in my house 12 years and yet to replace a single appliance
what are you people doing to your homes?
Posted on 12/20/22 at 10:14 am to Eli Goldfinger
quote:
I’m convinced it’s a scam.
how so?
Posted on 12/20/22 at 10:15 am to grizzlylongcut
quote:
Jesus man, there’s no way.
Probably a high maintenance wife.
Posted on 12/20/22 at 10:15 am to Eli Goldfinger
quote:You homeowners will be surprised to learn that landlords just pay for repairs and upgrades without planning for such and passing the costs on through rent rates.
Renting sucks for the lifestyle compromises, but it’s probably more cost effective.
quote:Oh yeah…Landlords also got the bill for taxes and insurance without planning for it and including those costs in the rent rates too.
Don't forget homeowners and flood if you need it. Thankfully I inherited my house and it is paid for.
It’s a wonder any landlords are able to survive subsidizing all of these expenses for those Wiley renters.
This post was edited on 12/20/22 at 1:56 pm
Posted on 12/20/22 at 10:15 am to LNCHBOX
Two good things from long term home ownership.
1. Your house appreciates over the years. If you buy a house and sell it 20 years later you will have made a nice profit.
2. You mortgage payment remains the same unlike rent which goes up every year. I’m in year 20 of my current house and my house payment is less than a thousand dollars.
1. Your house appreciates over the years. If you buy a house and sell it 20 years later you will have made a nice profit.
2. You mortgage payment remains the same unlike rent which goes up every year. I’m in year 20 of my current house and my house payment is less than a thousand dollars.
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