Coming up on 2 years as a homeowner, some thoughts

[washman]

Well I'm just shy of 28 years in paying off the mortgage, should I live that long!

 

And it's been both an interesting and traumatic 2 years let me tell you.

 

Traumatic because I lost my dad my last remaining family member in October. My beloved uncle, my mother's brother, died some 2 weeks before.  Needless to say, October simply just sucked as a month. I'll probably hate it more than I will hate January.

 

Interesting because well, I have a home and all the little things that go with being a homeowner.  Like lawn care. Like fighting onerous property tax increases.  Keeping up with homeowners policy and coverage. Planning for a concrete driveway.  Fussing over the performance of the lawn tractor.  Cleaning the outside windows with a squeegie.  Making sure the mailbox does not get blindsided from the street department blasting snow on it.  trying to rid my yard of interloper moles around my catch basin on the property. Et cetera. 

 

So far as the appliances go, Speed Queen pair excluded because I had them when I moved in, thus far (as should be expected) all the contractor supplied appliances are performing well.

 

The Goodman HVAC setup works very well and I am a convert to high tech sophisticated Hi-eff furnaces. Especially when they are made in a union factory someplace in the US of A.  Ditto for the AC.  I cleaned it once last fall and it really wasn't too grody but I figured what the hell, might as well get some practice. I know where I can source USA made capacitors for when, not if, the china sourced one bites the dust.

 

The Whirlpool made smoothtop electric range is working ok as well. I had to adjust the temp setting as it was about 10 degrees below what the digital readout said on the panel.  One annoying quirk, it beeps when it "thinks" the set temp is reached but my trusty USA made Springfield thermometer is about 15 degrees off although the temp will "catch up" in about 8-10 minutes if I leave it set. Perhaps Whirlpool had issues with the temp overshooting in past models?  After Super bowl Sunday, when I plan to bake some chicken wings and get the oven all crudded up, I will try the clean cycle and see how it does.

 

The Frigidaire ice box is a mook. Noisy, virtually impossible to get the 37/0 setting, freezer warms up far too much in the defrost mode, wire shelves, and an impossible to clean condenser coil is a complete fiasco. Does it work? Sure it does. Does it work in a matter that I find acceptable? Not even close. When it craps out, I will replace it for sure. Not sure which brand, but I doubt seriously I will go with Frigidaire except...........see below..........

 

 

The basic, contractor grade dishwasher is a pleasant surprise.  Noisy, unless it is jammed full, it nevertheless cleans very well. It is an "exclusive" Lowes unit and I have a vid of it running on my youtube channel.  No fussy food filter to clean, dries a 100 times better than the GE I had at the condo, and it likes the Cascade platinum 10x "pacs".  It does not like powder detergent nor does it like the Finish tabs with the red ball (in spite of mfg recommendation). It likes Jet Dry and cleans all but the most horrid baked on burnt on gunk.  Would I replace it with a like unit when it craps? Certainly.  Not keen is the made in Vietnam motor and the cycle is longer than what needs be to accomplish a normal load, but thanks to it I don't have dishpan hands.

 

The Bradford-White union made WH is working very well.  With 2 4500W elements, it does not take long at all to reheat should I use a hot wash in the SQ for my cleaning rags.  I drained it last Sept and the water came out clean.  Other than daily bathing, I really don't put too much stress on it and 50 gal is a bit much for one single person living here. I guess because of 2 full bathrooms perhaps that was code requirement I don't know for sure.  Other than me having a slightly higher electric bill because of it, I have loads of nice hot water.

 

Things that I don't like are pretty minimal.  The Project Source crap from Lowes for the shower stuff is a joke. I had to replace both handles in my bathroom because they simply crumbled away. Don't ask me how that happened, it just did after less than 2 years. NOt even living in a mobile home did I experience h/c handles breaking apart!  Seriously folks. I guess Chinese made plastic just ain't what it used to be. Et Cetera.

 

The project source crappers work........sort of.  If you do #1, no problem. Do a #2 and use Cottenelle aloe duke paper, you better plan ahead on the flushing sequence lest Korky the plunger is recalled from semi-retirement.  The guts are holding up well, no leaks but I don't know if I will be able to use the traditional Korky flapper as a replacement when the time comes. The rest of the faucets are Peerless, Delta and Fister and appear to be genuinely good quality units.

 

No drainage problems with the gutters.  All the utility connections are brand new including the sewer so I would like to think I have a great many years of trouble free service.  A PA required digital electric meter was installed when the home was built so that is all up to snuff.

The Simonton windows are without question contractor grade yet they have not leaked or caused me any issues.  If I was involved with the construction (which I wasn't, I bought this after it was built) I would have gone up one level to the ones that have covered channels which are much easier to clean.

 

Oh, the only other carp are the bathroom exhaust fans. Talk about a effing joke!  They are 8663RP Nutone units, I think Agent Orange carries these and barely 5 months into living here, I had to replace the one in my bathroom. It simply came apart, the motor housing that is. I complained on Nutone site and they sent me, free of charge, a whole new power assembly.  The carp on this is they are beyond noisy.  Enough to wake a light sleeper.  And they don't ventilate worth a piss either.  Plus you have to drop the whole grill assembly just to change the light bulb.  And forget about using the old school incandescent. Too hot. I know. I had 2 burst so last time I replaced it with a CFL.   No more worries.

 

So year 3 I am sure will bring more lawn challenges, and the like but I do enjoy being a homeowner. Now I can legitimately bitch about property taxes and such and have a leg to stand on.  Will I hang my hat here? Well, I'd like to but we'll see what the future holds.

 

[moparwash]

You have accomplished much in a short period of time..I found after 9.5 years of this you are almost never done, but at least its time and money well spent!

 

[petek]

As the years pile on sometimes I yearn for the days of our apartment living.

 

[sudsmaster]

Well, I'm about 20 years into a house built in '41. It's been an experience. Not only are there yardwork and appliance issues, but also ... foundation work ... refinishing all the hardwood flooring ... repainting the interior ... replacing the carport roof ... replacing huge (13'x 8"x8") carport roof beam that was riddled with termites ... restoring the fish pond ... installing drip irrigation everywhere ... sealing all the leaks to attic and outdoors ... adding about R30 worth of insulation to previously uninsulated attic floor... etc...

The biggest job was doing a seismic retrofit on the foundation, which involved adding more bolts, plywood cripple wall reinforcement panels, and steel clips to help tie everything together. That was a three week vacation one year...

The appliances I basically all replaced. Dishwasher, two fridges, replaced electric cooktop with gas, replaced washer and dryer, etc... The two things that I haven't had to replace is is the forced air gas central heating, even though it's from 1983, and the 50 gallon gas water heater, also about the same vintage. Both are doing well, and I've swapped out the anode rod in the water heater twice in the past 20 years.

Put it this way... count your blessings you didn't get a fixer-upper. Not that brand new houses don't have their share of issues, as you have discovered.

My word of advice is to accelerate principal payments on your mortgage as much as you can. The sooner the better, because it will cut down on the total cost of the loan, especially early on when the interest is a major portion of the monthly payment. I'm assuming you got a great interest rate to begin with, but you might look into a shorter term loan as well, like a 15 year. Usually these have lower interest rates. The downside is it locks you into a certain monthly minimum payment, which is probably higher than your 30 year. Take your pick...

 

[gusherb]

You have done pretty well for 2 years into owning a house. Two of my pet peeves are cheap toilets and cheap exhaust fans. I'd replace those POS fans and toilets with Panasonic or upper end Nutone units, like 1 SONE or quieter, and the toilets with Toto Entrada's or American Standard Cadet Pro's. The Cadet Pro's come with Fluidmaster pro parts installed including the brass shanked fill valve. And they have all metal handles.

 

[DADoES]

 
24 accumulated years of ownership (2nd property).  There's always something new happening.

Just to say ... the two elements on an electric tank water heater typically don't operate simultaneously.[this post was last edited: 1/29/2017-18:41]

 

[wayupnorth]

22 years in this home (5th property) and a homeowners work never ends. It is in your best interest to speed up the principal payments, as Rich said. And then you own it free and clear in a shorter time.

 

[washman]

Way ahead of ya guys

I make an extra 1 grand payment towards the principle only every year. In fact getting ready to do an extra principle payment now.  Rate is 3.125 per cent, fixed for 30 years.

 

Actually I found out both elements energize on the BW when I do a heavy draw off, if I just run enough to trip the stat into calling for heat, the top one runs briefly.  At any rate, I'm not short of hot h2O when I need it.

 

If anything gets replaced before its time, it will be the commode. At least in my bathroom. So far as the fans go, I never run the one in the 2nd bathroom as I never use the shower in there.  Only person to use it was dad when he visited. That's why it has the cheap-0 waterpik or something like that showerhead whilst I put money into the US made Sloan in my shower.

 

hi Frig!

 

[frigilux]

Hi, Ben. You were smart to buy a new home. My 1963 is old enough to need a number of expensive updates: New concrete driveway, three doors (including a spendy irregular-sized garage door). New windows and siding also on the list. In light of all this, I'm pretty sure the house will go on the market this spring. Have my eye on a recently redone apartment in an 8-plex with garage. I am so over home ownership.

 

[petek]

Our goal was to get rid of the mortgage asap so after a few years we switched to bi-weekly payments with the option to add extra against the principle with them.. It was tough though as it seemed my whole paycheck was gone as soon as it got deposited and we lived on his to pay the bills and everything else. I can't see how young people stand a hope in hell these days in some cities with their exorbitant house prices

 

[lordkenmore]

Have my eye on a recently redone apartment in an 8-plex with garage. I am so over home ownership. 

 

But how will you be able to have the wash in of the century if you are living in an apartment? LOL

 

[lordkenmore]

Thanks for the report, Washman. It's always interesting reading what you have to say about your home.

 

I note some comments about apartments above. I've never lived in one, but I've always rented. Ownership is not viable with the finances I've had to date. (Not that there aren't people who don't have the finances to own who still manage to buy something, as many foreclosures have shown...) I frankly have mixed feelings. Part of me would like having something where I make all the rules. Part of me would like something vintage, too. But I despise yard work, and really don't want to have to deal with house maintenance issues. The last factors make me think I'll probably just rent for the duration, and I'll likely eventually end up in an apartment.

 

[frigilux]

Frigilux's Wash-in Of The Century: "Remember to bring your quarters, everyone!"

Here's the seismic shift. The building has a back hallway with laundry hookups for each apartment, but I think a front-loader will have vibration problems on the wood floor. This means that for the first time since the mid-1980's my only washer will be a top-loader. Looks like an electronic-console SQ pair is in my future.

 

[DADoES]

 
<blockquote>Actually I found out both elements energize on the BW when I do a heavy draw off, if I just run enough to trip the stat into calling for heat, the top one runs briefly.</blockquote> Interesting.  That's 9,000 watts, 37.5 amps @ 240v.  Is it on a 50-amp circuit?

 

[washman]

Best of luck Frig

Save for when I bunked at home with the parentals, I too always rented. And I thought it would be ok for a long time. But I discovered the hard way that rent goes up and up and up and up and you get.................zilch for it.

 

Plus you cannot choose your neighbors. I was pretty lucky in the condo; due to the high rental amount, there was no way your typical snagger could rent there. That meant we only got shall we say , higher class people renting there.  Still one year I had a noisy couple that thankfully only rented a year.

 

It was sort of impersonal, I suppose it varies from unit to unit. Plus I had major sciatica issues in 2006-2007 and along with gimpy knees, going up and down stairs was quickly becoming a major deal breaker.  Plus I was stuck with the carpet and the appliances, be as it may, the landlord put in.  Sure, I could, at my own expense, change some things but what's the point when it ain't mine anyway?

 

Understandably, my abode is not for everyone. Empty nesters or a single man/woman is about the right fit. There;s no basement.  Due to township rule for road setback, there's no provision to add on even if I wanted to. Some would argue it is small for the price I paid, I could agree to a point on that one. But it is new as are all the utility hookups.  It is slab on grade so no basement or sump pump issues to deal with.  It is single level meaning no stairs so when my physical health really goes pear shaped, I can get one of those electric scooter things and zip about.

 

I sort of like fussing in the yard although I get darn frustrated at the apparent lack of progress in getting a decent looking patch of green to grow. Hell, there's even some wild mint growing out there,  I can smell it when I cut the grass.  that's another thing, I like riding around with a freshly lit marlboro in one hand and a cold Sam Adams in the other. Makes me feel like I've arrived or something.  Plus I can get a tan sort of.  And during Halloween, I get loads of kids that I can hand candy too.

 

And finally, I can go apeshit during Christmas and spit in the eye of DOE control and put up my energy guzzling C9 lights ( I could not do that at the condo) along with some blow molded yard displays (where I store them is another matter!)  I'm still looking for the santa, Kmart had them but I neglected to get one before they sold out.

 

[washman]

Yes glenn, it is on a 50 amp circuit.

 

[sudsmaster]

There is so much to be said for home ownership, regardless of what Suze Orman might say. It's the feeling of being king of the castle, I suppose, being able to make a lot of changes, have any legal pet you want, etc etc etc. But with a home comes more responsibility, and you do get to feel tied down to it. At least I do, by them I'm a bit of a pack rat.

3.125 on a 30 is a great rate. I'm currently paying the same on a 10 year, which I refinanced about four years ago (or more, I forget!). It was a no cost refi, so no points and no closing costs, which I figured is best in my situation where I refinanced regularly. I probably could have gotten it refinanced last year for 2.75 for another 10 year, but I did the math and figured while it might save me maybe $500 in interest, it wasn't worth the hassle, and the time lag between the cash out refi and putting all that cash back in can work to defeat the purpose of paying it off quicker. In your situation, I'm not sure you could get a lower rate with a 15 or a 10, even with points. So you have the luxury, so to speak, of making larger monthly payments at your discretion, and falling back to the lower minimum payment should your income situation change.

So I'm on schedule to pay it off by June 2019. Earlier if I start putting more $$$ into it. Which I may do when I retire, just to be free of the monthly mortgage. There is something to be said about hanging onto a loan with low interest, but on the other hand the peace of mind of being paid off is even better. Plus there are various legal financial reasons why having a home on lives in free and clear with correspondingly lower liquid assets may actually be advantageous in some situations ... (like bankruptcy, lawsuits, Medicaid, Medicare assistance, etc...).

 

[dartman]

Been in my redone manufactured home almost 5 yeard now. The included stove and dishwasher were Sears Kenmore stuff, SS builder grade but same here. Dishwasher is loud but dishes get clean, the stove is actually pretty nice and everything works way better than the old Whirlpool worn out early 80s stuff that came in the rental. Water heater is a A O Sanford 50 gallon that was new too and works ok. The windows are Alpine builder grade that actually have a lifetime warranty, roof and siding were new too. So far one cracked pex pipe feeding the washer that was covered under a warranty they included for a year. I need to replace one of the entry doors, the incoming main water pipe froze this month during a bad snow and cold snap but I caught it early and got under the house and thawed it out in 5 minutes and fixed the heat tape that had lost connection.
My toilets are cheap builder grade Pro Flows and I have the same problem with mine but most time it eventually clears without plunging. Plan to replace them with better quality dual flushers eventually. Home Depot actually has a house brand that gets great reviews for money spent. I had to redo the guts in mine last summer too. I keep rebuild kits in stock here now just in case. I have Glacier Bay faucets here and the bathroom sinks and kitchen are ok, the bath tub ones are plastic but still work ok.
There's all kinds of things I want to upgrade or replace but it can all wait, important things are new or work, and the kitchen was redone so cabinets and all that are nice enough. I like paying myself finally and getting a decent refund every year because of the interest credit. Yep, I can do whatever I want, punch a hole, mow my weeds, park my cars in the back behind my fence, life is good.

 

[tolivac]

At times with home ownership-a neighbor said to me "Home Moanership" as he was working on his house problems fixing up the place to sell-he was moving to a retirement home.Becuase of the recession we are still in-I have lost ALL equity in my place.I have a second mortage so I could do some appliance replacement and fixup.Now my mortage is underwater.Looked in my area-for what I am paying on a 40 yr old place I could rent a NEW place for a fraction of the price.Really don't need to own the place.There are some advantages of a landlord-If some in the house they provided goes on the fritz-THEY have to fix or replace it.
For the lawn work-got rid of my troublesome JD tractor last year.Now use cordless push mowers for the mowing.Thinking of contacting the lawn work out-cheaper than payments on a new tractor!Some lawn work I HATE doing and would rather someone else do it-don't mind mowing so much.But face it-the guy I am looking at to do the mowing can do my yard in about half hour with his Bad Boy ZTR mower.He even let me drive it-FUN!!!But the thing cost 10 grand!So--to me house owning isn't what its really cracked up to be.Some chores just don't have the time to do.