If you own your own home, what's the hardet thing about being a homeowner?
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Hardest thing about home ownership?
- Thread starter ClicketyKat
- Start date
The hardest thing for me is prioritizing projects. Some are more money than others, but should be done first and vice-versa. I want to extend my back porch overhang, but my fiancé wants to put in new flooring. I personally like the floors we have. No idea which idea is gonna be acted upon first, lol.
Having to pay to fix or replace things that break… our boiler broke down last winter, bye bye £650 to get it fixed so my pregnant wife didn’t freeze 
Heck, these days it seems hard to even own a home due to major inflation.
We’re fixing things cheap as it can be. Ideally we want to break down the house in a couple of years to build a new home integrated with our business shop building that was built in 2016.
We’re waiting for a couple of years because by then a few loans are paid off and then we’re able to spend that kind of money in a new home.
So that’s our main and biggest issue. Running repairs, trying not to overspend so we get to keep more money for the new house. Our house is built in 1975 which is still pretty good, but a bit outdated and not exactly our thing for a 100%. Still, we’ve moved in 11 years ago and it’s a good house. Also lucky it’s build durable and we haven’t had to do much repairs.
We’re waiting for a couple of years because by then a few loans are paid off and then we’re able to spend that kind of money in a new home.
So that’s our main and biggest issue. Running repairs, trying not to overspend so we get to keep more money for the new house. Our house is built in 1975 which is still pretty good, but a bit outdated and not exactly our thing for a 100%. Still, we’ve moved in 11 years ago and it’s a good house. Also lucky it’s build durable and we haven’t had to do much repairs.
As some have said.. it's the maintenance. If you can do the work yourself, you are WELL ahead in the game.
What we are actually thinking of doing, since we currently have an RV.. is have a large metal shell building built on property we own, have a section of it as a "garage" for our vehicles and the RV and then finish the remainder out ourselves. I worked a few years in commercial construction, so am familiar with much of the type of work involved (as my brother-in-law who was my boss required me to work my way up). Some stuff I would still have to have contractors do (plumbing in the foundation and electrical/HVAC), but much of the "finish" work I can do myself.
Of course, we could simply keep the house we have that's paid for and maintain it and then either sell the land at a substantial profit and "update" the house, or use the land as a "second home" by building a small metal building on it and keeping the RV under cover in that building, while still having the ability to take out out for trips.
I'm leaning towards selling the land (about 225 acres @ $5K minimum an acre if parceled correctly) and taking a portion of it and updating our current house and investing the rest.
What we are actually thinking of doing, since we currently have an RV.. is have a large metal shell building built on property we own, have a section of it as a "garage" for our vehicles and the RV and then finish the remainder out ourselves. I worked a few years in commercial construction, so am familiar with much of the type of work involved (as my brother-in-law who was my boss required me to work my way up). Some stuff I would still have to have contractors do (plumbing in the foundation and electrical/HVAC), but much of the "finish" work I can do myself.
Of course, we could simply keep the house we have that's paid for and maintain it and then either sell the land at a substantial profit and "update" the house, or use the land as a "second home" by building a small metal building on it and keeping the RV under cover in that building, while still having the ability to take out out for trips.
I'm leaning towards selling the land (about 225 acres @ $5K minimum an acre if parceled correctly) and taking a portion of it and updating our current house and investing the rest.
The taxes would be rough. Well, the utilities would be the same as if you rented. Of course, I mean in many cases.
Our house in in my wife's name since she inherited it (even though we refinanced it) with the tax office... and since she's classified as disabled she gets a healthy reduction, then we have our homestead on it... the issue with taxes... they are based upon value... and our house that was worth about $80K when she inherited it in the mid 90's is now worth about $400K according to the taxing authorities.
For those owning homes - would ya'll recommend home warranties? I know some of the biggest struggle is fixing things that just seem to fall apart! I'm looking at purchasing a new build and there is of course a 1 year home warranty, but then I can purchase the 10 year home warranty as well.
Some people swear by them.. some swear at them.
I personally have never had one...my son, when he owned his own home kept one because the realtor he dealt with "gifted" him one. It turned out he benefitted (after having to jump through a bunch of hoops) with a new HVAC unit when his old one went bad. Took about 4 repair persons trips out before the warranty company would write it off... and somebody had to be their for each repair visit (which lasted on average about 2 hours). He couldn't spare the time off, and luckily we were retired so we were able to go stand by.
We simply put money into the "home repair kitty" each month. I also do most of the repairs myself... but as I get older, that's going to have to drop by the side.
I look at it the same way I do a warranty for the RV.... usually there are too many "outs" that they have written into them.. you have to be careful and read the policy and what it covers carefully.
I personally have never had one...my son, when he owned his own home kept one because the realtor he dealt with "gifted" him one. It turned out he benefitted (after having to jump through a bunch of hoops) with a new HVAC unit when his old one went bad. Took about 4 repair persons trips out before the warranty company would write it off... and somebody had to be their for each repair visit (which lasted on average about 2 hours). He couldn't spare the time off, and luckily we were retired so we were able to go stand by.
We simply put money into the "home repair kitty" each month. I also do most of the repairs myself... but as I get older, that's going to have to drop by the side.
I look at it the same way I do a warranty for the RV.... usually there are too many "outs" that they have written into them.. you have to be careful and read the policy and what it covers carefully.
The house we rent has a home warranty, which I think saves the home owner a lot of money. We've had the same issue your son had where someone had to come out a few times to actually figure out what was wrong and truly fix the problem. Ours has been the AC as well as the oven.
I myself do not own a home, I rent one but I know from my mum and dad owning their home just how much it can cost when things go wrong.
Things like the boiler breaking, and walls needing to be repaired are all costly and years ago before my dad lost a lot of his mobility, would do a lot of the fixing in the home and they would only hire someone if my dad could not fix the issue.
I am thankful that I rent especially at the moment as I couldn't imagine how much it would cost to have my own home now.
Things like the boiler breaking, and walls needing to be repaired are all costly and years ago before my dad lost a lot of his mobility, would do a lot of the fixing in the home and they would only hire someone if my dad could not fix the issue.
I am thankful that I rent especially at the moment as I couldn't imagine how much it would cost to have my own home now.
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