23 Difficult Aspects Of Homeownership, Told By First-Time Buyers

[ZLoth]

From BuzzFeed:

"It's Ruining Our Lives": People Are Sharing The Hard Realities And Regrets Of Actually Being A Homeowner
"I was so excited about the home price and the area that I missed that major piece when I bought it – and I can't work around it now."

Previously, I've shared stories about the regrets that first-time homebuyers had and the things that they'll do differently when purchasing their next home. But when u/orangeblossomhoneyd asked the homeowners of Reddit to share the things they learned after buying their first home, I was reminded that many unfortunate homeowner realities only make themselves known once closing day is just a distant, stressful memory. These are just some of the most helpful responses.

FULL ARTICLE HERE

[ZLoth]

I'd like to talk to the fellow who said to budget "1% to 2% of the purchase price of your home each year for routine maintenance projects". Every year, the improvements made on my home have exceeded that 2%, whether it be putting in more energy efficient windows, replacing the air conditioner, putting in new patio doors, or repairing a leak in the swimming pool. At least I'm spending the extra money for the "good stuff" instead of the "cheap stuff", because in the long run, the "good stuff" lasts much longer than the "cheap stuff", and doesn't have to be replaced as often. I also believe the critical and very important improvements have been completed.

[formulanone]

I'd like to talk to the fellow who said to budget "1% to 2% of the purchase price of your home each year for routine maintenance projects". Every year, the improvements made on my home have exceeded that 2%...

That 1-2% number is probably fine for new homes; like a new car, your expenses are wear-and-tear items or minor improvements. We've realized that 5% is more realistic for something over 5-10 years old, and greater for a home approaching 20 years old and up.

Case in point, we needed a new HVAC system in a 40-year-old home two months after we bought it...was literally 3% of the same price of our home. We had one other major home expense during the next 11 years in that house, and our insurance covered half of the repair. But we've learned from hurricanes and storms to have a safety net or budget for other home expenses which might be minor but become more numerous.

I personally wouldn't replace trouble-free items for the added perk of "energy efficiency" unless you can literally make up the the cost in 1-3 years, or some other major immediate needs or gains. If one is just removing "cheap stuff" for "good stuff" merely for the sake of it, I wouldn't factor that into the 1-2% rule.

One thing I'd also recommend: don't be afraid to go home hunting on or right after a really rainy day. Or check your favorites once more if unsure...You'll be able cross off a few from your list and see how well it or the area deals with standing water. (This may not apply in places with limited rainfall.)

Finding perfection is difficult, maintaining it to perfection is almost impossible. Dealing with a certain amount of imperfection is easy, too many imperfections creates difficulty again. Find the balance.

[Max Rockatansky]

Really you can expect most household appliances to start breaking down at the 10-15 year point.  Our house was built in 2007 and had all the original appliances when I moved in.  The dryer died in 2019 and the washing machine needed to be replaced this year.  I want to say I replaced the original microwave in 2018.  Right now I need to replace a motion sensor light switch with something conventional and the faucet in the shower. 

I do most of the ground maintenance myself.  One of the first projects I did was repair the irrigation system and clear the gutters.  Most normal people I know would struggle with similar items even though they can be easily learned.

[ZLoth]

I'd like to talk to the fellow who said to budget "1% to 2% of the purchase price of your home each year for routine maintenance projects". Every year, the improvements made on my home have exceeded that 2%...

I personally wouldn't replace trouble-free items for the added perk of "energy efficiency" unless you can literally make up the cost in 1-3 years, or some other major immediate needs or gains. If one is just removing "cheap stuff" for "good stuff" merely for the sake of it, I wouldn't factor that into the 1-2% rule.

Except for the light bulbs when I moved all (all bulbs were verified and if necessary replaced with LED equivalents except in closets) and the addition of attic insulation, the replacements have been on a "as needed" basis. I knew the windows all had to be replaced when I moved in because they were original to the house and one-two were falling apart. The air conditioner broke down twice during the first Dallas summer and was replaced with a more efficient variable speed unit just prior to Covid, plus some bad duct work was fixed. The electrical box was a priority replacement, and I made sure it had a whole house surge protector. The patio doors.... well, they were double French Doors, and were put in by a previous homeowner because of his disabled wife. That meant three sets of double doors plus a single door had to be replaced. I was holding off, but then one set of doors didn't lock at all. That kicked off a two-year replacement project where one set of doors were replaced every six months, but these doors are much nicer and have a better latching system to deal with the high wind situations. These replacements were all itemized on a list that I created when I moved in. I just wish it wasn't on such a compressed timeline, but thankfully, all of the "priority" items are now completed.