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Life has been expensive with things around the ranch. Well motor (since it is the water supply, it can be a house subject) and now an AC fan motor. I can afford it but the sudden price tag does take the breath away. How does one handle it?
I am thinking a few steps to cushion the blow. Don't spend money just because you have it (I am actually pretty good at that). Set aside money for the House Repair Fund and hopefully watch it grow. Do preventative maintainance to keep big costs down which might mean paying for such a visit this far out of town?
What other things might one do.....other than moving, mind you?
How do you beat it? The same way you think about and manage a car. Some repairs/replacements can be planned ahead for (learn the useful lives of components like paint, wear parts, mechanics and materials, and schedule out their replacement, etc), others can't. Unless you're in to unusual hobbies or high value collectibles, a house and car are probably going to be the most expensive and complex items you'll own during your lifetime. You do your due diligence and know what you're buying before you write the check and you come to terms with the fact that things in constant use will wear out and break. They require maintenance/repairs periodically, so you create a contingency fund to deal with that, or you give up control and choose not to own them.
Last edited by Parnassia; 05-11-2023 at 01:17 PM..
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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Things wear out, that's normal, and part of owning a home. Last night the ice maker died in our fridge, just past warranty. In the last 3 years we have replaced windows. ($16,000) roof and gutters, ($22,000) and kitchen counters, ($6,500) and had the outside painted $(8,600). We have a new vanity waiting for me to install in the master bathroom, then flooring. We are on the 3rd dishwasher, 4th refrigerator, 3rd set of washer & dryer. Appliances are not made like they used to be. In our case it's been 30 years here in August.
Things wear out, that's normal, and part of owning a home. Last night the ice maker died in our fridge, just past warranty. In the last 3 years we have replaced windows. ($16,000) roof and gutters, ($22,000) and kitchen counters, ($6,500) and had the outside painted $(8,600). We have a new vanity waiting for me to install in the master bathroom, then flooring. We are on the 3rd dishwasher, 4th refrigerator, 3rd set of washer & dryer. Appliances are not made like they used to be. In our case it's been 30 years here in August.
Yep! My current house has reached the ripe old age of 8 and I'm looking at about $12K worth of maintenance this summer. Structurally the house/garage are OK but things exposed to weather need attention. Most of it is paint prep: pressure wash, wire brush/scraping, priming raw wood, recaulking and re-nailing some popped siding joins the builders never noticed, pulling and re-setting two garage windows installed upside down (the sills collect water). Followed by a complete 2 coat paint job of body, trim, gutters, exterior doors, deck and front stoop. Materials costs aren't bad but it's a lot of time intensive labor. The original plan was to split the job over two summers...but last year the contractor could never hire a crew in time to take advantage of our short summer weather window.
Last edited by Parnassia; 05-11-2023 at 02:33 PM..
You don't beat it, you plan for it.
Take care of small problems before they turn into large ones.
Set money aside for the repairs/replacements/etc that come.
You don't beat it, you plan for it.
Take care of small problems before they turn into large ones.
Set money aside for the repairs/replacements/etc that come.
This, and stop/curtail discretionary spending on needless junk.
You don't beat it, you plan for it.
Take care of small problems before they turn into large ones.
Set money aside for the repairs/replacements/etc that come.
Remind yourself of the old Yiddish idiom:
"Man plans and God laughs".
All you can really do is laugh back as you write the check.
Last edited by Parnassia; 05-11-2023 at 03:04 PM..
Sweat equity!
Learn to do repairs yourself- there’s nothing better than knowing you accomplished a repair/job yourself; and the proof is right there in front of you!
Life has been expensive with things around the ranch.
What other things might one do...?
Whatever the costs might be ... how many is that divided by?
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