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Old 04-15-2021, 05:48 AM
 
Location: East Coast of the United States
22,132 posts, read 23,330,816 times
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Quote:
Originally Posted by k350 View Post
Houses do not need repairs "all the time", I will never understand where people get this from.
That is easy to explain. If you spend a lot of money and completely remodel your kitchen and bathrooms, install a new roof, windows, carpets, flooring, plumbing, electrical panel, wiring, air conditioner, water heater, ... basically change everything all at once, then you probably won’t have to do too many repairs for a long time after that.

However, if you do things slowly and only repair things when problems arise, then yes, it will probably feel like you’re repairing things constantly.
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Old 04-15-2021, 07:11 AM
 
Location: Tierra del Encanto
1,742 posts, read 1,443,789 times
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Here's a thing unmentioned: in my old nabe back in NY, a neighbor left the home while the dryer was going. A fire started which took down the whole house. No other homes were affected.

About 18 months ago, a home across the street from where I live now had a fire. The home is intact, but there were repair trucks for months.

Most rentals are in apartment buildings, and fires often take down entire buildings. It's simply safer and more peaceful living separate from your neighbor. The screaming kids, yapping dogs and weird cooking smells are less of a problem.
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Old 04-15-2021, 12:29 PM
 
8,235 posts, read 6,005,614 times
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Quote:
Originally Posted by BigCityDreamer View Post
That is easy to explain. If you spend a lot of money and completely remodel your kitchen and bathrooms, install a new roof, windows, carpets, flooring, plumbing, electrical panel, wiring, air conditioner, water heater, ... basically change everything all at once, then you probably won’t have to do too many repairs for a long time after that.

However, if you do things slowly and only repair things when problems arise, then yes, it will probably feel like you’re repairing things constantly.
I understand the logic behind the calculation, just disagree it is that much. Sure, for some people it is, but not on average for every house in the US, and certainly not pegged to a 3% home value, because value of home has zero to do with how much repairs cost.

A lot of those things you list are voluntary though, the kitchen remodel for example; that is just a want, a desire, not a repair. I replaced all my windows, but it was voluntary, a desire, there was nothing wrong with them, I got impact glass installed in their place. That was not a repair either.
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Old 04-15-2021, 12:33 PM
 
91,724 posts, read 89,036,150 times
Reputation: 66296
Quote:
Originally Posted by manekeniko View Post
Here's a thing unmentioned: in my old nabe back in NY, a neighbor left the home while the dryer was going. A fire started which took down the whole house. No other homes were affected.

About 18 months ago, a home across the street from where I live now had a fire. The home is intact, but there were repair trucks for months.

Most rentals are in apartment buildings, and fires often take down entire buildings. It's simply safer and more peaceful living separate from your neighbor. The screaming kids, yapping dogs and weird cooking smells are less of a problem.
that is why you have renters insurance.

we are a development of two 7 story buildings .. there was a five alarm fire in the building next door .... many apartments were not usable for weeks ...
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Old 04-15-2021, 12:51 PM
 
8,235 posts, read 6,005,614 times
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Quote:
Originally Posted by mathjak107 View Post
that is why you have renters insurance.

we are a development of two 7 story buildings .. there was a five alarm fire in the building next door .... many apartments were not usable for weeks ...
That insurance is not going to replace loss of life, either human or animal, nor possessions that cannot be bought anymore, like photos.

At that, fires are pretty rare, can occur in a house as well.

Many years ago when living in an apartment, dealt with an elderly neighbor who kept burning things while cooking, setting off the fire alarm. Fire trucks were there at least once a month for it. There would be smoke everywhere in the hallway, and they would set these big fans up to blow it all out.
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Old 04-15-2021, 12:58 PM
 
91,724 posts, read 89,036,150 times
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Quote:
Originally Posted by k350 View Post
That insurance is not going to replace loss of life, either human or animal, nor possessions that cannot be bought anymore, like photos.

At that, fires are pretty rare, can occur in a house as well.

Many years ago when living in an apartment, dealt with an elderly neighbor who kept burning things while cooking, setting off the fire alarm. Fire trucks were there at least once a month for it. There would be smoke everywhere in the hallway, and they would set these big fans up to blow it all out.
they were lucky in that building as there stuff was untouched in most of the apartments . 2 or three were not as lucky and they had damage . smoke damage was the biggest problem.

it was a 105 degree day and we had over 200 fireman here dropping like flies from the heat ... we all brought down all the bottled water we had and they were taking over city buses as cool down chambers . i have lots of pics if anyone wants to see some
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Old 04-15-2021, 03:20 PM
 
Location: NC
8,052 posts, read 10,869,206 times
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As a retiree I am not sure which way to go.

I have funds to buy, but what's the point? But if I rent, can I paint the interior of the apartment/condo/house? I may hate popular wall colors with too much yellow in them. My artwork would not look good. Should I surprise the landlord with a new paint job then accept the hit to my deposit (or re-paint) when I move out? Will it look so good that he raises the rent next year? Or will he freak and refuse to renew the lease? I get the idea that there are a lot of landlords who own only one or a handful of properties and have no knowledge to keep them in good shape.

Before I could afford to buy my first house I rented and had great experiences. But that was 35 yrs ago. Now there are tons of novice landlords.

But on the other hand, buying a home less than 30 yrs old today almost always involves an HOA. As I've written plenty of times, the original HOA concept of simply maintaining commonly used infrastructure and avoiding gross changes to the neighborhood has often been replaced by power plays by controlling individuals--with no oversight. No thank you.

And homes older than 30 yrs are often in need of lots of improvements. The sweet spot for a retiree is a one-off small home built on a separate lot by a custom builder. But you can no longer find a quarter acre on which to build since developers are swooping in and buying anything close enough to town get city services.

That is why people have a more difficult decision these days, even if the financial part of it can be set aside. Meanwhile I agree that younger people really should pay attention to the financial part.
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Old 04-15-2021, 04:10 PM
 
9,127 posts, read 7,138,135 times
Reputation: 18808
Quote:
Originally Posted by NORTY FLATZ View Post
Especially if your rent had grown from $1400 to $3500/mo. And you only get $1750/mo. SS....
well even at 1400 a month rent on a 1750 SS check would be impossible.
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Old 04-15-2021, 07:02 PM
 
Location: Tierra del Encanto
1,742 posts, read 1,443,789 times
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Quote:
Originally Posted by mathjak107 View Post
that is why you have renters insurance.
Renters insurance is about replacing STUFF. An apartment building on fire could very well kill you and your family. When people live clustered together, one person's carelessness becomes everyone's liability.

I realize a single family home isn't every person's choice, or even possible because of the lack of houses. But when push becomes shove, I will choose to live separately from others if I can.
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Old 04-15-2021, 07:06 PM
 
Location: Tierra del Encanto
1,742 posts, read 1,443,789 times
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Quote:
Originally Posted by luv4horses View Post

And homes older than 30 yrs are often in need of lots of improvements.
You're overthinking this. If I were you I'd buy an older house that's been updated and well maintained. It'll cost you more, but you said you have the money. Lots of people take good care of their homes, and I think that's what you want.
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