The joys of home ownership

Ayanla · 10-30-2009, 11:58 AM

I bought my first house this past February. It's a 50 year old house and for the last ten years before I bought it, the older lady who lived there basically did little to no maintenance. I've done non-stop small things like repairing leaky faucets, and a few bigger things like completely stripping one wall of wallpaper only to discover it was wallpapered to hide badly damaged drywall. That was fun.

The back third of my back yard is "wooded". I have to assume this was done for privacy, as in our neighborhood the back yards butt right up against each other on the sides and back to back. Everyone else uses a fence. I have about 700 square feet of unkempt trees, bushes, and underbrush that have been completely untouched for at least ten years. There are six honeysuckle trees with trunks over 6" in diameter, and a dying tree that's collapsing in on everything, as well as one medium size 12" diameter tree. When spring hit this year, I discovered that I had a yard full of squirrels, raccoons, birds, and tons of bugs from the dying/dead vegetation.

So I got some estimates to clear it down to the dirt so I can reclaim my yard. The cheapest estimate has been $800, and I think I'm going to take it. I just can't stand to look at it any longer and I refuse to go through another spring and summer looking at that. I want to fence in my yard so I can sit out there and let the dogs run around and have fun.

With that taken care of, that'll just leave clearing up the rest of the foliage around the house, bringing in some fill to fix the negative slope, having replacement windows put in, having siding put on, having a shed built, and having the patio recemented...and that's just the exterior issues.

Boy, this owning a house thing sure is fun.

Pics of the "wooded" yard:

hulkamaniac · 10-30-2009, 12:09 PM

I'd do it myself to save the money. Actually, it's just straight manual labor. Depending on where you are, you may be able to hire day laborers to clear it out pretty inexpensively. I hired a couple of guys who have been laid off here and were looking for work to build a deck for me. They did a great job.

FilleBelle · 10-30-2009, 02:58 PM

For a long time it was my dream to own my own home. Right now, I'm renting someone else's and I gotta say I feel like it's the best of both worlds. I've got a decent landlord who doesn't care what I do to the house as long as it's undone before I leave and when something goes wrong, I just call the management and a repair guy shows up within and hour to take care of whatever it is. The owning thing is certainly makes financial sense, but I'm sure it's all it's cracked up to be.

DJsMom · 10-30-2009, 03:07 PM

I like that natural habitat back there! But, I can understand where too natural could be an eye sore, or even a danger.
That really doesn't seem like too bad a price, it cost us $1,100 to have the trees in our back yard trimmed a few years ago - course they had to use a boon (? not sure that's the right word).
But I do sympathize with you in general about the cost of home ownership. Our home is well over 100 years & I just don't know if continued updating is worth it ... to an extent maybe.
If I didn't have so many pets, I would def RENT an apartment or condo!

RBark · 10-30-2009, 03:27 PM

Quote:

Originally Posted by FilleBelle

For a long time it was my dream to own my own home. Right now, I'm renting someone else's and I gotta say I feel like it's the best of both worlds. I've got a decent landlord who doesn't care what I do to the house as long as it's undone before I leave and when something goes wrong, I just call the management and a repair guy shows up within and hour to take care of whatever it is. The owning thing is certainly makes financial sense, but I'm sure it's all it's cracked up to be.

Owning doesn't really make any financial sense unless your house is actually making money. It is a good deal when you pay in full, but when you need to take out a loan... it's a whole new game.

Like anything in life, it has it's advantages and disadvantages. Renting is a very convinent thing, the only issue being the rules set by someone else. I.e. no dogs, limited amount of dogs, etc.

Personally, I'm very much disliking owning my house with the mortage I have. I lose money every year, for the last 3 years, compared to renting. And not by a small margin, but in multiples. It was a good deal when economy was booming and I made money off every house I sold.

Ayanla · 10-30-2009, 04:03 PM

There is no way we can do this ourselves. We just don't have the free time, the tools, or the knowledge. I'd rather pay someone with equipment, experience, and more importantly insurance, to come in and knock it out in a few days. You see that sort of cleared corner on the right hand side? Yeah, that's the amount we cleared ourselves...since February. I'd just hire some day laborers, or get family to chip in, but the lack of insurance thing makes me way too nervous.

I actually really like owning my own home. I have just experienced quite a bit of shock at just how much time and/or money it takes to physically maintain. I've lived in apartments my entire life, so It's taken a bit of an adjustment.

Of course, I went as financially conservative as I could. I bought the house solely on my income, even though our household income is more than twice that. I was approved for 120k and bought a 90k house. I got a 30 year fixed mortgage at 5.5% apr. My mortgage, including PMI, taxes, and homeowners insurance, is less than I would pay to rent a 3 bedroom apartment or house anywhere around here.

Overall I'm still confident I made the right decision in buying when I did. Of course, when I woke one morning last month to find water puddling under my hot water heater, I sure did wish I had a landlord to call.

hulkamaniac · 10-30-2009, 04:15 PM

Quote:

Originally Posted by RBark

Owning doesn't really make any financial sense unless your house is actually making money. It is a good deal when you pay in full, but when you need to take out a loan... it's a whole new game.

Like anything in life, it has it's advantages and disadvantages. Renting is a very convinent thing, the only issue being the rules set by someone else. I.e. no dogs, limited amount of dogs, etc.

Personally, I'm very much disliking owning my house with the mortage I have. I lose money every year, for the last 3 years, compared to renting. And not by a small margin, but in multiples. It was a good deal when economy was booming and I made money off every house I sold.

I don't agree and here's why. If you own and you have a mortgage, you can write off the interest on your taxes. You can't do that if you rent. Your house is a place to live first and foremost. I'm sure my house has probably lost money lately too, but I'm not in the market to sell right now, so it doesn't matter. Second of all, sooner or later, your house ends up paid off (usually in 15-30 years). Then you're living completely rent and mortgage free and you're light years ahead of anyone who's renting. Also, you can sell your personal residence and pocket the money tax free up $500k (if I remember correctly).

Now, that being said, owning a house has it's downsides. It can be more expensive (in the short run) and I've seen too many people buy too much house. Renting as a way of life though seems like a poor financial decision to me.

Quote:

Originally Posted by Ayanla

There is no way we can do this ourselves. We just don't have the free time, the tools, or the knowledge. I'd rather pay someone with equipment, experience, and more importantly insurance, to come in and knock it out in a few days. You see that sort of cleared corner on the right hand side? Yeah, that's the amount we cleared ourselves...since February. I'd just hire some day laborers, or get family to chip in, but the lack of insurance thing makes me way too nervous..

Free time I can understand. You can rent a bush hog cheaper than $800 though and there's not much knowledge involved. You just go in there and start whacking whatever you don't want. It's quite cathartic actually, but I digress.

Anyway, if you've got home owners insurance you should be covered against injuries that happen to people on your property.

Ayanla · 10-30-2009, 04:46 PM

Quote:

Originally Posted by hulkamaniac

I don't agree and here's why. If you own and you have a mortgage, you can write off the interest on your taxes. You can't do that if you rent. Your house is a place to live first and foremost. I'm sure my house has probably lost money lately too, but I'm not in the market to sell right now, so it doesn't matter. Second of all, sooner or later, your house ends up paid off (usually in 15-30 years). Then you're living completely rent and mortgage free and you're light years ahead of anyone who's renting. Also, you can sell your personal residence and pocket the money tax free up $500k (if I remember correctly).

Now, that being said, owning a house has it's downsides. It can be more expensive (in the short run) and I've seen too many people buy too much house. Renting as a way of life though seems like a poor financial decision to me.

Free time I can understand. You can rent a bush hog cheaper than $800 though and there's not much knowledge involved. You just go in there and start whacking whatever you don't want. It's quite cathartic actually, but I digress.

Anyway, if you've got home owners insurance you should be covered against injuries that happen to people on your property.

A bush hog doesn't take down trees, though, does it? I've got six 6" diameter honey suckle trees in there. I've also got a 12" diameter tree and a half broken/dead 9" diameter tree. This isn't just bushes and weeds. Our honest plan in the beginning was to do this ourselves, but I'm not too proud to admit when it I just don't have what it takes to do it. This guy's price includes taking it down to the dirt, grinding all stumps, hauling everything away, and clearing the rotting fence from our yard's back line. So after three days and $800, I'll have a clear yard that I can throw a fence around.

That is a good point about the homeowner's insurance. I guess I was just thinking along the lines of if they have their own insurance, then my premiums don't go up if there's a mishap. Also I don't think my homeowners insurance would cover damage to my neighbor's property if I hired someone to do work and their work caused a tree to fall on, say, their pool, would it?

digits mama · 10-30-2009, 05:22 PM

These...

Can cut these...

Into this....

GOOD LUCK!

ETA... Anyone you hire should be licensed and bonded!

Willowy · 10-30-2009, 06:16 PM

Yeah, home ownership is fun....I've lived in my house for 6 years and just replaced the water heater for the second time (first time was right after I moved in). I must have corrosive water or something. At least my uncle did the installation this time so I didn't have to pay for that. And usually if I need something cleared, I just have my dad and his crazy friends go at it with a chainsaw.

But at least I can have as many pets as I want. That's the main reason I bought instead of rented. I refuse to be told how many pets I can have in MY house. So there are good reasons to buy instead of rent. But it would be nice to just call the landlord and let them deal with it.....

hulkamaniac · 10-30-2009, 06:23 PM

Quote:

Originally Posted by Ayanla

A bush hog doesn't take down trees, though, does it? I've got six 6" diameter honey suckle trees in there. I've also got a 12" diameter tree and a half broken/dead 9" diameter tree. This isn't just bushes and weeds. Our honest plan in the beginning was to do this ourselves, but I'm not too proud to admit when it I just don't have what it takes to do it. This guy's price includes taking it down to the dirt, grinding all stumps, hauling everything away, and clearing the rotting fence from our yard's back line. So after three days and $800, I'll have a clear yard that I can throw a fence around.

That is a good point about the homeowner's insurance. I guess I was just thinking along the lines of if they have their own insurance, then my premiums don't go up if there's a mishap. Also I don't think my homeowners insurance would cover damage to my neighbor's property if I hired someone to do work and their work caused a tree to fall on, say, their pool, would it?

That is a good question and I honestly don't know. I know home owner's insurance usually covers people injured on your property. People on your property damaging other people's property, I don't know. Worst case scenario is you just write the other people a check though. I know that's not what you'd want, but it's not an end of the world scenario. I would check w/my insurance company for sure.

Dog_Shrink · 10-30-2009, 06:32 PM

I LOVE my house and home ownership despite all the things you no longer have the landlord for, which for me didn't matter since I was the apartment super I got it all anyway.

Our house was built in 1850, and in the same family since 1863. The lady I bought it from, the last of her family line was 91. The house had all new mechanicals in the last 5-7 years and 2 of everything since she had it as a 2 unit (just devided by a flight of stairs and a door). When #1 goes bad hubby just realigns everything into #2... it's nice. Remodeling hasn't been done inside (ie decorating) since the 1970's so that's where our fun is. I'm in the middle of like 6 different renmodeling projects...but I wouldn't give it up for the world... 3000 sq. ft on .67 acre corner lot in a nice suburb.

Only downside is it's not all fenced and that would cost us like $7000 but we do have a fenced dog area (50x50) Sorry just had to show off some pics... This is almost my dreamhouse... put it on 50 acres in the middle of nowhere near a beach and that would the dream

Spicy1_VV · 11-03-2009, 12:29 AM

Yeah I totally feel you!!

But not sure I'd want it any other way right now.

Wow dog_shrink your home looks so traditional american.

Binkalette · 11-03-2009, 01:41 AM

Wow.. You've made me very glad that we bought new this spring.. I mean, the basement isn't finished and there was nothing but weeds in the yard when we moved in, but there is also nothing that needs fixing or replacing. Still it's going to take quite a bit of time and money to get the basement and yard finished off.

This year was a great time to buy though I think... We got a 3.4% fixed loan, and a nice $8,000 ..tax refund? From the government to keep and spend on whatever we want... It doesn't really matter to me where the housing market goes after this, We plan to grow old in this house.

Also, $800 seems like a lot to just take out some bushes and small trees.. It might be hard work, but you could just get a nice chain saw and get to work

Unless you wanted to take the roots and stuff out too.. then it might be worth it.. I don't even know how one would go about getting the roots out by yourself.

Dog_Shrink · 11-03-2009, 11:50 AM

Yeah Spicy1... traditional colonial but what could you expect being built in 1850... It's solid tho... you go into the basement with it's 9 foot celings and you can see the main beam that runs the entire length of the house is ALL 1 PIECE of wood plus the entire foundation is all field stone not cinderblocks... Man craftsmanship was all that back in the day... I would NEVER buy a new built house...

.308 · 11-04-2009, 05:52 PM

Quote:

There is no way we can do this ourselves. We just don't have the free time, the tools, or the knowledge.

Lowest quote when we moved to our house to mow our front lawn was $150 per mow. Easy job, just mow a bunch grass.

Ended up borrowing my neighbors zero turn for a month until I bought one. I ended up paying more for that mower than most do for a used car. HOWEVER, that mower has already paid for itself in the years that I've owned it.

Joys of home ownership.

The list would be endless on my end. However, wouldn't change a thing for the world, and love where I'm living at.

hulkamaniac · 11-04-2009, 06:35 PM

I love my house too, but I may be looking to move. I am sick and tired of my neighbor calling animal control on me. I have to deal with animal control at least once a month it seems. I'm tired of it. I don't have the time. I don't have the energy. I've got an animal control officer who is actually going to come over to my house tomorrow when I'm off work so I can show them that I really don't torture my dogs in my free time. Hopefully they will stop coming out every time she calls.

.308 · 11-04-2009, 06:40 PM

Quote:

Originally Posted by hulkamaniac

I love my house too, but I may be looking to move. I am sick and tired of my neighbor calling animal control on me. I have to deal with animal control at least once a month it seems. I'm tired of it. I don't have the time. I don't have the energy. I've got an animal control officer who is actually going to come over to my house tomorrow when I'm off work so I can show them that I really don't torture my dogs in my free time. Hopefully they will stop coming out every time she calls.

One reason why we paid for the land. No neighbors. I could mow my lawn butt naked with a push mower and no one would know. I know, don't ask

Leroy&Lucy'sMom · 11-04-2009, 07:09 PM

Quote:

Originally Posted by .308

One reason why we paid for the land. No neighbors. I could mow my lawn butt naked with a push mower and no one would know. I know, don't ask

How many acres is your land?

.308 · 11-04-2009, 07:18 PM

Quote:

Originally Posted by Leroy&Lucy'sMom

How many acres is your land?

Not much by farming standards, but well over a mile of fence line.

Talk about the joys of owning. I don't look forward to replacing that fence line.

That said, wouldn't change anything for the world.