How much does the maintenance of a house cost?

[FauxLiz]

@littleoc I completely understand that thought I had a great job no need to relocate built a house and with the dot com crash in the early 2000's lost my job, the entire state economy tanked and it was relocate or lose the house and be unemployed. Stayed in my next location 8 years but since I barely had the 20% down needed and could only afford a 30 yr mortgage by the time I moved then I hadn't paid enough in principal to recoup my entire down payment and investment after paying the broker their 6% and closing costs. Now I rent. I try to live frugally and I am continuing to put money aside so that when I retire I can afford to pay cash for housing where ever I choose to retire. I currently live in a colder climate so I am thinking when I am older might want more sunshine and less snow. LOL.

 

[Friday]

I am thinking I won't move for a long time, but I'm young enough that I should probably triple check. My goal is to not have to move for several years at least. I love stability. :)

As long as you own it for 2 years, you can bypass the capital gains tax. It’s worth leasing out if you’re leaving before that, or just eating a few months of mortgage, usually, to miss that tax.

 

[Freida]

when you move into a house you are responsible for everything and it can kind of surprise you sometimes. Like the water heater going out, or needing a new fridge, or something is wrong with the air conditioning/heat unit. Those costs can add up fast. Plus think about things like a lawn mower :laugh:

heres a good rundown.....
Easy Ways to Budget for Home Maintenance and Repairs

 

[Changing4Best]

Putting a new roof on a house, for instance, can cost $1,000s of dollars. Especially if the old roof is 3 layers of shingles thick. This is because you cannot put 4 layers of shingles on a house, the roof could cave in during snow storms, etc. SO! You have to remove all 3 layers of shingles AND put a new layer on BEFORE it rains. Then there can be things like termites or carpenter ants. This can get expensive FAST.

Is there a septic system or sewer? Septic tanks have to be pumped out every so often. Guess how much that costs?

Plugged toilet or sink? Electrical hazzard?? (Caused by a short). Insurance? (If you have a mortgage, it will be required). The list is ENDLESS. Count upon the unexpected. It will come up.

So there is no exact figure or even a ballpark figure. I speak from experience. I rent. I make sure the landlord is responsible for all repairs. PERIOD.

Oh, and by the way, I have been a landlady too. It is one headache after another....

 

[littleoc]

That's also great to know!!

So, maybe my goal should be to eventually own a house, but not right away. Maybe rent a house first?

Or consider a one or two bedroom apartment?

It would be a lot easier if I weren't responsible for so many animals! But I'm currently unwilling to let them go. Service dog I obviously am allowed to have anywhere, luckily, but I will need a puppy as soon as possible to begin training. The bird really needs me at this point. The snake I adore, plus he has unique colorings, but he would adapt the best without me in his life (though he now lets me pick him up without getting spooked! but he's also the cheapest friend to care for and he helps me chill). The two cats I'm getting from my sister, one has a hip issue but is otherwise fine. But Taz was diagnosed with feline PTSD when he was less than six months old, so I already know I can't have too much change for him. I'm already going to have to get him some valium before we move because I can't just explain to him that he's going to be safe. Poor guy.

But anyway. It's looking like renting a house would be a better idea right now! Plus, that means I may be able to afford a better house later on? Once I have a better paycheck?

 

[Justmehere]

There will always be reasons to stay. Don’t forget the cost savings of the increase in mental health that you will experience when you get out of your current living situation.

 

[Freida]

There will always be reasons to stay. Don’t forget the cost savings of the increase in mental health that you will experience when you get out of your current living situation.

This!!!!! This!!! ^^^^

 

[littleoc]

Oh, great point. I probably wouldn’t need as much therapy, but previously every single time I’ve stayed here for holidays and breaks whatnot, I’ve had to take two to five extra medications to be able to function. And sometimes that still hasn’t worked.

So, that’s something to look forward to!