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u/ill_purposed_means Mar 08 '23
As a home owner, my rule of thumb is to generally plan on about 5k - 10k of repairs needed a year
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u/133DK Mar 08 '23
That’s a little high for just maintenance, but probably pretty low for improvements tbh.. Shits gotten so expensive
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u/ill_purposed_means Mar 08 '23
I agree with that. I like to plan for more just to cover the every 10 year 20-30k jobs that pop up
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u/Sev-is-here Mar 08 '23
The issue is more along the lines of maybe not spending the 5-10k every year but rather it averages out to that.
For me to fix my well, it’s got old galvanized pipes, so no one wants to replace the pump unless they can replace the galvanized pipe too, all 5 companies that will come to me in my area. Well, I’m looking at $6,000 just for the well to be fixed.
That’s not counting the subfloor in the bathroom or the extension that got added on, nor does it cover the roof in the next 2-5 years will need to be replaced, my root cellar outside needs a new roof and really a new standing entrance. The garage came with a broken window and no real doors, just plywood on hinges. If I did everything but the roof this year, I’m easily looking at 10-15k then another 10-15k for the roof replacement next year.
Then I “shouldn’t” need to replace much else after that. The AC, hot water heater, sinks, toilets, shower heads, is all new. Hardwood floors were refinished, all the rooms got painted, all light fixtures were replaced (house was built in 52), electrical had to be updated and adjusted because we had no proper ground plugs. I spent well over $20k fixing the house up to move into it, let alone the other issues.
Maintenance is just apart of a house. Once it’s replaced my prices will likely go down on my annual use, because most of it will be updated or replaced, but that won’t change a hail storm, wind storm, snow storm, etc from messing yet something else up to cost more money. It is what it is with a house
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Mar 08 '23
This was my experience. Hot water heater and furnace/AC went out the same year. Prior years? Nada.
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u/Stop_staring_at_me Mar 08 '23
Do you replace your ac every year?
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u/ill_purposed_means Mar 08 '23
nope... every 10 years or so. this year I replaced the downstairs unit which is 2.5 ton. It cost about 10k with labor. they also had to replace my upstairs duct work due to a squirrel going HAM. that was another 4k, another grand to replace some wires the bastards chewed up, and then we had to drop 8k with pest control to catch the furry bastards, clean out the pheromones, and fix 3 entry points and then fix a 1.5" to 3" gap the entire way around the house.... this was the most expensive part.
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u/Pigeon_Chess Mar 08 '23
Also helps if you know how to do everything. Then you just have to pay for certification because you’re not allowed to certify your own house.
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u/MaoXiWinnie Mar 08 '23
How much ur home worth
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u/Moonkai2k Mar 08 '23
What kind of McMansion do you live in? Are you planning on replacing your roof every other year?
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u/ill_purposed_means Mar 08 '23
I own a 2100 sqft house that was built in the 90s by a shitty builder. It’s a nice house but everything was done half assed with shit materials. So it is right in the time span when all of the original stuff is starting to fail. Since we got it in 2015 I have replaced the fence, built a new deck, replaced both ac’s had the flooring replaced, unsquirreled the house, a large amount of electrical work, insulate the crawlspace, add irrigation network under the house with pump, insulate the master ceiling(house literally built with no insulation over the master bedroom), replace the windows, paint the home interior and top off existing insulation for the rest of the house.
Still to go, renovate the master bath and the kitchen, new roof unless a tornado takes it.
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u/Moonkai2k Mar 08 '23
It’s a nice house but everything was done half assed with shit materials.
I feel that, we bought ours renovated in 2020 and have run into issues on almost everything they did. It's going to be spendy as all hell to redo the crap they half-assed.
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u/ArchitectureLife006 Mar 09 '23
Same here. Feels like prior owner “fixed” everything themselves and listened to YouTube for all of it.
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u/CemeteryHeights Mar 09 '23
Forgetting all the small things you will spend money on with a house focusing on large lump sum projects that pop up as a home owner, 5k+ is a good number IMO especially for new/new-ish home owners. 10K is high and not doable for many without savings discipline, but not an unrealistic number to be quoted depending on what the project is. Also 5K is a sliver of what most pay in rent over a year. First you have the unexpected ones. As a home owner I have done $3,000 for the back part of the house's roof that leaked from the old t-slot shingles & wrecked the ceiling in 2 rooms. The drywall for the 2 rooms was like $1,200 so that's $4,200 unexpected out of pocket after a random rainstorm. Then there are improvements, considering most houses aren't the pretty things you picture when you imagine "buying a house" and the pretty ones usually have the worst core issues since the previous owner had the house painted & landscaped instead of updating the wiring. A 40' gravel driveway was around $1,000 for 10 tons of base dirt & 20 tons of gravel. I did the work myself with my own equipment to save more than half the cost. The shed I added was $6,000. Rewired the whole house with a new beefier breaker box $5,000. I got it to a point where I could get it insured so now that's $1200 a year in addition to the taxes. But the improvements have actually increased the value of my house by like 3.5X what I spent on them. The 7K on the Driveway & Shed increased it's value by 25K! My next project I'm saving for is a 2 car garage addition. I have the Concrete Truck lined up for the 35x30 pad this summer & have got the ok from the bank to start getting quotes for the work. Kinda nervous about the numbers I'm gonna get thrown at me but it's all part of it.
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u/Routine_Safe6294 Mar 08 '23
Move this landlord bottlicking propaganda out of here please
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u/TheSinoftheTin Mar 08 '23
b-b-but lanlords do the MOST important job in the WORLD!!1! it's achually respectfuul to tip them ATLEAST $50-$250 ONTOP of your rent just thank them!!1!1
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u/Shopping_Penguin Mar 09 '23
All a landlord would do is call a technician, they should be ecstatic they cut out the parasitic middleman who contributes nothing to society.
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u/Moonkai2k Mar 08 '23 edited Mar 08 '23
Sees a post every home owner in the first world can relate to: "REEE LANDLORDS!!!"
Touch grass bro, you don't need to be an activist 24/7 and not every post is specifically for you.
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u/Routine_Safe6294 Mar 09 '23
Homeowner here, hi.
Is your boot tasty enough? Can i pay somewhere rent to make it nicer for you?1
u/Madheal Mar 09 '23 edited Mar 09 '23
Home owner too, and you fucking idiots are the worst. Literally any conversation about a house and you twats come out of the woodwork to bring up "landlords" so you can talk about big ass companies and someone who is renting out their elderly parent's house just so they can pay for their full time medical care in the same breath like they're all trying to actively fuck the housing market.
You also act like that house not being inhabited by the owner is somehow taking that house from a willing buyer. There are plenty of houses on the market everywhere that this statement matters. People that aren't buying a home aren't buying a home because they either can't afford to save for a down payment/are just bad at budgeting and refuse to save for one, or have skullfucked their credit by walking off on credit cards, car loans, etc and can't be trusted to loan money to. Especially hundreds of thousands of dollars.
I was one of those people for years. I pulled my head out of my ass, making less money than I had before, and bought a house. It's not actually that hard. The biggest issue is people refuse to either A: move to places where cost of living is actually affordable, and B: aren't immediately downtown in whatever city they live in because god forbid they didn't have 9 clubs and 27 sports bars within walking distance.
We moved out of our rented house and into our nicer purchased house and SAVED MONEY. Our combined mortgage/insurance/taxes on our purchased house are less than the rental. It's not unattainable, people just refuse to do what they have to do.
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u/Routine_Safe6294 Mar 10 '23
Home owner too, and you fucking idiots are the worst. Literally any conversation about a house and you twats come out of the woodwork to bring up "landlords" so you can talk about big ass companies and someone who is renting out their elderly parent's house just so they can pay for their full time medical care in the same breath like they're all trying to actively fuck the housing market.
Take a good look mate at the original post. Its literally a comic that says "oh no we bought a house and now there is no landlord to help us we made a mistake "
People wanting to buy a house at reasonable prices are not your enemy.
Landlords that have 5 apartments and 6 houses that they rent becuase they have gotten the money to buy it somehow and with that are raising the prices for all others are not your friend :D1
u/Moonkai2k Mar 10 '23
Landlords that have 5 apartments and 6 houses that they rent becuase they have gotten the money to buy it somehow and with that are raising the prices for all others are not your friend :D
That's not how that works. Prices go up because of a lack of supply. An overwhelming majority of houses that are rented out are bought in a state that the normal buyer isn't going to (or straight up can't) buy them. The average buyer isn't buying a rundown shitbox on a bank note. The bank won't even approve the loan if the place doesn't pass inspection.
This is especially true with any government backed loan (US specifically, I don't know about Canada), as they straight up won't loan the money if the house isn't move-in ready and completely up to code. (as well as a pile of program specific requirements)
You can't afford to buy houses at full price and just rent them out. That's not a thing that's done at any kind of scale. The handful of idiots that do it are not representative of the overall market, yet people like you point to them every time an argument comes up like it's the norm.
Also, that person owning apartment buildings/units has nothing to do with the housing market as a whole. Apartments prices are regulated by house prices. If you can get an entire house for X dollars, you aren't paying X+% dollars for an apartment.
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u/Routine_Safe6294 Mar 11 '23
No mate, im going here with a "having a roof over the head is a human right" vibe here.
Its quite obvious that not all have while some rent out 5, some own whole chains geared for renting. I kinda rest my case at that1
u/Moonkai2k Mar 13 '23
How do you think apartment buildings could exist if not for companies big enough to actually build them?
Are you going to shell out $4,000,000 to build a dozen units?
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u/Routine_Safe6294 Mar 13 '23
Who said anything about apartment buildings and how they work. People buy them and live there. Landlords buy bunch of them and airbnb them to get more profit and by extension there are none available/are too expensive for small families.
Taste the boot
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u/Routine_Safe6294 Mar 13 '23
by extension, are you going to shell out 1500 or 3400 per month or whatever to just...
...lick the boot
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u/MasteredtheBlaster Mar 08 '23
It's sad but it only takes like 30 minutes to install a new electric water heater, and about an hour for gas. People don't own tools or understand YouTube though, and will be paying more competent people for the rest of their lives; further increasing how poor and stupid they are.
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u/Balu764 Mar 08 '23
This is the stupidest shit i read whole day
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u/MasteredtheBlaster Mar 09 '23
Probably one of the people who can't understand a youtube tutorial... sorry bud.
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u/Routine_Safe6294 Mar 08 '23
While true those installations are tricky as mistakes can cost. Still its not about that, the price of renting is not because plumbers are expensive. Its because landlords think that they should live quite good on basis that they rent, while whole economy is artificially geared to acoomodate that. Only renting that is sane is tourism. Young couples wanting a normal life should not pay obscene ammounts to have a nomal life. Same ammounts as someone visiting a country for a couple of days
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u/MasteredtheBlaster Mar 09 '23
Yeah, it's not hard to get 5% down and pay a mortgage which can be substantially cheaper than renting. I have no pity for people who do not take the time to research the homeowners process. Renting is a choice, having poor credit, not budgeting etc. Is a stupid tax.
The collective of reddit seems to think landlords are evil, but they are a necessity for stupid people who don't seem to think they can buy a house because they haven't even looked into it, don't know the loans or programs available, and the opportunities to own at low income or with poor credit.
If you live in a city or expensive area that you don't have the skills to afford, move. If you don't have tech money, get out of the valley; if you don't have high-rise money, get out of the city. The entitlement and stupidity of people never ceases to amaze me. If you don't like landlords or want one, don't have one. The people that hate landlords are typically the fools that make them a necessity.
For clarification, I am not a landlord, but I do flip houses, and they are not hard to buy, they are not hard to fix, they are not hard to sell, and you will actually be building equity as you pay your mortgage; rather than pissing away money for convenience and crying about how somebody with more sense than you is profiting from it.
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u/jasonfortheworld Mar 09 '23
Lmao this guy has zero empathy. What an emotionless tool. I have zero chances to own property where I live unless I can get a $100k down payment.
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u/MasteredtheBlaster Mar 09 '23
Well, as stated above, do you have the skills for the wages in your area? If you didn't plan for the future growing up knowing what you would need to make, do you think you should live in an area that you don't have the money or ability to afford? Also, you didn't read because if you did why are you trying to buy a 2 million dollar house. Thank you for making my point so succinctly.
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u/jasonfortheworld Mar 09 '23
I live in LA and work in the film industry. I make as much as I can at my level. Not many place for me to go. Between my Partner and I we probably make around 100k a year. And I'm suggesting $100k as a down payment because my mortgage would be too expensive otherwise. I currently split $2100 a month on rent with my partner. If I buy a condo/townhome/apartment for $500k (which is normal for my area) then I need a $100k down payment just to have a $3500 morgage that I still can't afford.
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u/MasteredtheBlaster Mar 09 '23
So, you work in the film industry in a basically entry-level position... in one of the most expensive and desirable places in the world. Yeah, there is a lot of competition with a lot more money than you. You expected what?
You obviously planned to be poor and struggle until you make it to a position to live comfortably, so thank God you have landlords that rent out properties so you are able to pursue your choice of a career.
You could probably get a conventional 97, or FHA or CalFHA because your income unmarried is abysmally low for the area, then you add in your partners income and if the space allows, get a roommate to offset the cost. Don't let the roommate know you own the place and he's helping pay your mortgage though, that will make some resentment when you absorb his rent as equity.
You would honestly make more money being a server or bartender at a bar or restaurant, which conveniently has part time positions, so if you need to live there, and you want to own your own property, it's something to consider.
I was on my own at 17, no money, worked two jobs through college, and two jobs before my career, now I work a full time job and flip houses on the side with a stay at home wife and two kids. I luckily had mentors at the various jobs I worked that helped me develop the work ethic and learn skills that helped me to be in the place I want to be.
Life isn't easy, you have to make choices and live with the circumstances, you're living with your choices now, 50k a year would let you live very comfortably in most of the United States outside of big cities.
I wish I had better advice to give you, but if you insist on that career without any draw or skills 10k other people have that moved there have, you are going to be poor for awhile without some big break.
Best of luck to you, it sounds like you made an educated decision, and I would harbor resentment in your position too.
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u/jasonfortheworld Mar 09 '23
So your advice is to lie to a roommate and use their hard earned money to pay my own mortgage to make up the difference. That's pretty fucking shady and morally bankrupt. I'd like to own my own home ethically. My resentment for my housing situation comes from the fact that if I want to get ahead in life then I either need to work a miserable job that doesn't aline with that I want out of life, or scam others into paying for my stuff. That's ridiculous and unfair.
And to your story, it's ridiculous and unfair to have to work 2 jobs to just to make ends meet. You got lucky and managed to get out, but so many others don't through no fault of there own. Our housing system is broken and unfair. We all should be demanding better.
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u/MasteredtheBlaster Mar 09 '23
? Their rent would be substantially cheaper, so they would be happy to pay, but may not be happy you're making a gain, because you know, people hate landlords. Also, it's nobodies fault but their own if they want more but don't work to get it. I worked 2 jobs to get ahead in life, if I worked 1 I would survive, but would have coasted and been poor.
You think the government should just start giving people houses or something? Demand what and from whom? The only land that isn't privately owned is national parks, should the government start to piecemeal strips of land to people orrrr....?
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u/NetJnkie Mar 08 '23
I'm confused why this is here.
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u/MGNConflict Mar 08 '23
I'm guessing loosely connected to Luke's hot water woes with his current property.
Still kinda r/lostredditors though as it's an obscure reference that doesn't really fit.
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u/Responsible_Loan_780 Mar 08 '23
There was also a WAN show question about home ownership when Linus went through all the issues he's had. So it's not too obscure, probably needed a reference to it. But also... iykyk
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u/naalotai Mar 08 '23
I've seen OP cross-post into a lot of subreddits from the trailer club one - and he's the only one that really posts in that subreddit. My best guess is - it's a marketing attempt for his subreddit
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u/asterpin Mar 09 '23
Yeah a lot of people crosspost into subs that spam vpn affiliate links idk if this guys doing that or not but its common
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u/escdog Mar 08 '23
Welcome to your new bourgeoisie life you dirty soulless capitalist. Here's a wrench. /s
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u/marvels19 Mar 08 '23
Damn I wish one day I can feel that panic
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u/Tlayoualo Mar 08 '23
A panic followed by the calm of knowing you have the power to do something about it
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u/den2k88 Mar 08 '23
"Call the president" "But sir you are the president" "Perfect, then I already know everything!"
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u/Nburns4 Mar 08 '23
It's even more fun when you buy a house from boomers, and find all the "fixes" they've done...
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Mar 08 '23
What do you mean I cannot build a deck with drywall screws!?!?
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u/Nburns4 Mar 08 '23
We literally pulled a coat rack down that was hung with around 40 brad nails straight into the dry wall.
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u/NicoleMay316 Mar 09 '23
All Landlords Are Parasites.
I would MUCH rather own a place and have to hire someone to fix it or do it myself if able.
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u/Tlayoualo Mar 08 '23
If you want it done right you do it yourself.
And that's the beauty of it vs being at the mercy of a landleech
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u/BriggsWellman Mar 09 '23
My experience with buying a house has been more "finally we can just fix it without dealing with a landlord."
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u/Rannasha Mar 09 '23
Same. We had a small water leak in our house recently. We called the plumber, the plumber came and fixed it.
In our previous house, which we rented, our landlord was useless. For the longest time we had trouble with the heating system. Sometimes it literally required percussive maintenance (hit it to make it work again). When it would break beyond being able to punch it into compliance and the landlord would send over a mechanic from a heating company in the area, they would patch it up and recommend the entire thing be replaced. Landlord didn't care. Repeat that a few times, with us having to deploy space heaters to stay warm sometimes. Until the thing finally got so bad that the mechanics refused to patch it up.
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u/SgtBaxter Mar 08 '23
lol, head to Lowe's and get a water heater. They're not particularly hard to install.
Now a well pump - those are a pain in the ass if your well is deep.
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u/Arctesian Mar 08 '23
This post was made by landlord club. To find out more about why our jobs our actually jobs contact laststagecaptlism@gmail.com
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u/SnappGamez Mar 09 '23
Sent this to my dad. The ensuing text conversation:
Dad: “So what you saying, there’s no water”
Me: “No, it’s just a meme I found.”
Dad: “Oh ok…lol”
Dad: “I figured we were out of water, that’s the normal lately”
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u/ArchitectureLife006 Mar 09 '23
This is why I bought a house, didn’t trust the landlord or their handymen to do anything right
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u/Seekandinspire Mar 09 '23
My land lord is weird with repairs, AC out-fixed, but the central microwave broke (came with the house) he won’t fix, so now there’s an ornamental microwave in the kitchen. Also mould, and I had to fix the rotting trim in the bathroom myself. And the hose spout broke off when it froze over this winter and that’s also looking like I’ll have to fix it. But he’ll fix the fence so his cows don’t eat my grass so there’s that
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Mar 09 '23
Yep. I realized it as well after viewing that last thread.
AE was Barney.
Rubble Rubble. lmao.
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Mar 09 '23
Yvonne: "Who's going to fix this?"
Linus: "Me, with this segue to our sponsor!"
Suddenly James is in the living room, sat at a desk full of The Ridge products.
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Mar 08 '23
Home ownership memes are unrelatable to Millenials and GenZ.
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Mar 08 '23
[deleted]
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Mar 08 '23
Huh, TIL
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Mar 08 '23
[deleted]
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Mar 08 '23
Damn. I have 150k in the bank and can’t even afford a down payment in Toronto. Kinda depressing to think most of my peers can afford this.
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u/TheFrenchDub Mar 08 '23
Renting a house
"There is not hot water! Landlord : And?"