Home Improvement
Sponsored by

House is almost 10 years old. Everything is breaking.

2,851 Views | 21 Replies | Last: 1 yr ago by tgivaughn
wcb
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
10:36a, 8/22/23
AG
In the past ~6 weeks

- oven went out
- fridge went out
- garage door opener went out

and then last week

- microwave went out
- sprinklers stopped working

#livingTheDream
Reply Quote
62strat
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
10:43a, 8/22/23
AG
Welcome to homeownership.

In the 10 years of our newly built house we've replaced the fridge (well it was just warranty work), dishwasher, washing machine, both garage door springs, had our house flood from a faulty faucet, a broken window from weather, probably a roof in the coming years,

Reply Quote
8
Reloadags1998
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
10:52a, 8/22/23
AG
You sure you did not have a surge or lightning strike? That's a lot of appliance issues in a short time. 12yo home here and we have replaced the entire AC, garage door motor, microwave, dishwasher, garbage disposal, dryer vent and exhaust booster along the way. A few repairs to the irrigation, oven, circuit breaker panel, and water heater as well. Home-ownership is still better than renting.
Reply Quote
8
1 edit
wcb
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to Reloadags1998 • 11:20a, 8/22/23
AG
Reloadags1998 said:
Home-ownership is still better that renting.
Generally I agree, but given what property taxes and insurance are doing these days I'm starting to change my mind.
Reply Quote
1
TexAg1987
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to wcb • 11:21a, 8/22/23
wcb said:
Reloadags1998 said:
Home-ownership is still better that renting.
Generally I agree, but given what property taxes and insurance are doing these days I'm starting to change my mind.
Those will catch up to the renters too.
Reply Quote
16
62strat
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to wcb • 11:35a, 8/22/23
AG
wcb said:
Reloadags1998 said:
Home-ownership is still better that renting.
Generally I agree, but given what property taxes and insurance are doing these days I'm starting to change my mind.
Those are only up because your house has appreciated.

My mortgage is maybe $500 more a month than when I purchased 11 years ago (due to increases in taxes/insurance), but the house has appreciated $500k+

I'll take that any day.
And like said above.. someone owns the house a renter lives in, and don't you think they'll have to raise rent when those line items increase??

Common sense.
Reply Quote
1
1 edit
Reloadags1998
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to wcb • 11:47a, 8/22/23
AG
wcb said:
Reloadags1998 said:
Home-ownership is still better that renting.
Generally I agree, but given what property taxes and insurance are doing these days I'm starting to change my mind.
The same costs impact rental property owners, often to a much great effect. At least you are building equity. Renters are paying more per month with no equity. Rent is already very high for most folks, and will be higher in the future. There are some very unsustainable market issues that need to be addressed.
Reply Quote
2
htxag09
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
12:26p, 8/22/23
AG
We just purchased a new house and were between renting and selling our old home. We ended up renting it out, but we got a pretty concrete example/numbers of renting vs. buying the exact same property. And at current prices and interest rates, just looking at the numbers today, it makes more financial sense for someone to rent our house vs. buying it.

We're getting $3,500/month in rent.

Based on the offer we got to buy, it would have been a mortgage of around $3,200/month, plus taxes and insurance of almost $1,000/month. This doesn't consider the 40% our home owners insurance was scheduled to increase this year.

So $4,200ish vs $3,500. And that doesn't consider maintenance, the $75k put down, closing costs, etc.

Obviously the huge unknown is appreciation, rent costs in the future, etc. But home costs continuing to appreciate at the same rate they have the last 5ish years isn't a guarantee.

Of course there are other benefits of home ownership, which is why we're buying a second home.
Reply Quote
1 edit
tamuags08
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to wcb • 12:40p, 8/22/23
AG
wcb said:
In the past ~6 weeks

- oven went out
- fridge went out
- garage door opener went out

and then last week

- microwave went out
- sprinklers stopped working

#livingTheDream

Live in a Houston suburb, nice neighborhood. House was built in 2006, we moved in sometime around 2019.

Since living here, we've done the following:
- All appliances have failed and have had to be replaced (Microwave X2)
- Water heaters replaced
- Roof replaced after a leak into the downstairs sloped ceiling
- both upstairs toilets have leaked into the ceilings below, requiring remediation and re-install
- dishwasher (pre-replacement) backflow valve failed and we came in to water all over the kitchen floor after returning from church
- replaced entire backyard fence
- 1 AC unit replaced, 1 remaining


Hoping we're past the worst of it. Besides the "repair/replace" variety, we've also spent money on re-painting most of the interior and replacing flooring in the downstairs.

I started questioning if this house is cursed but we live in a wonderful neighborhood, kids go to an amazing school, and the house (when not exhibiting issues) has been great.
Reply Quote
1 edit
TXTransplant
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
1:25p, 8/22/23
I live in a house built in late 2012 (purchased new).

A/C is on its third coil (first one was defective but I missed the window to make a claim) and third capacitor.

Fridge and dishwasher have both been replaced. They were technically still working, but they were crappy quality and multiple power outages/surges caused problems with the fridge. I'm surprised the microwave is still going.

Water heater had a valve replaced under a recall (failure would have flooded the house).

Both toilets were the models where the tank can spontaneously break (and flood the house) so those have been replaced.

Garage door opener was replaced, but that was an upgrade to a much quieter model with battery backup that I can operate from an app.

Both shower door frames and glass had to be replaced because they were crappy builder grade and were coming apart and corroding.

Lots of corrosion on things like door handles. Weather stripping on my patio doors is also coming off.

Kitchen sink faucet and a couple of bathroom sink faucets have had to be replaced. Since I am the original owner, I've gotten those for free under the manufacture warranty.

Both shower faucets had a known manufacturing defect and had to be replaced/repaired.

Backflow preventer on the sprinkler system has been replaced twice.

The joys of home ownership and poor quality control. I actually think the latter is the bigger issue. Seems like so many things are made to be disposable after a few years.

Reply Quote
1 edit
Cromagnum
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
2:05p, 8/22/23
AG
11 year old home here. On a community well so water sucks.

- On 3rd set of hot water heaters.
- Replaced washer.
- Had to buy expensive water softener when we moved in. Already replaced everything on it.
- Every faucet inside and outside is corroded from the water.
- AC capacitors have failed twice. Main unit on way out.
- Lightning strike killed routers, Playstation, and assorted switches in breaker. Also zapped both garage door openers.
- On 2nd refrigerator.
- Replaced entire sprinkler system.
- Patched roof, and next good storm will require replacement.
- Builder fence fell down 1 month after we moved in. They told us tough ***** Made it work for 10 years but need new one.
- Lawn has nearly completely died 3x due to drought, chinch bugs, or fungus despite treatment for everything.
- Already had to replace two giant double panels windows where the seal failed.

Probably other **** I've forgotten about.
Reply Quote
2 edits
62strat
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to htxag09 • 2:35p, 8/22/23
AG
htxa said:


We're getting $3,500/month in rent.

Based on the offer we got to buy, it would have been a mortgage of around $3,200/month, plus taxes and insurance of almost $1,000/month. This doesn't consider the 40% our home owners insurance was scheduled to increase this year.

So $4,200ish vs $3,500. And that doesn't consider maintenance, the $75k put down, closing costs, etc.
But a chunk of that $4200 (at least as much as the $700 difference) is directly going to principal, building equity, which you get back if/when you sell. Renting you get nothing.

Same with down payment.

With no appreciation, our example was purchase in 2005, sell in 2012, so 7 years, in Tomball.

We refinanced at some point, but I'd say on average we were at about $900/month. Originally it was like $750, then refinance to 15 years it went to $1100 or so.
We had no down payment, but maybe $5k in closing costs from buy/sell.
That's $80k give or take our of pocket for us for owning.
House sold for literally a couple grand more than what we paid, $127 vs $120k, But we walked away with a tad over $40k (from equity)

So that's ~$40k to live for 7 years, or $475 a month. Our 1 bedroom apartment (jersey village) just before we bought the house was $750/mo. You weren't getting anything for $4xx a month in late 2000s

I feel like it would be a very rare situation to come out ahead on renting, assuming it's not a really short amount of time.
Reply Quote
1
htxag09
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to 62strat • 3:06p, 8/22/23
AG
Agree to disagree....yes, some is going to principal.

But you could take that $75k down payment plus closing costs right now and invest. You can get almost 6%, probably more if you look, guaranteed and risk free. You can then take that $700/month and put it straight into the investment account.

Then for your example, look at the flip side....

Say you rented, your apartment was $750/month. That delta to your average is $150/month. Take the closing costs on the initial loan and invest them, Invest $150/month, and at the end of 7 years you're at $22k assuming 5% return, which I believe was what this time period saw.

I also am not sure on your $40k number, I mean I believe you but just looking at mortgage payback schedules I think you may be underestimating the appreciation impact. If you had a 15 year note at 3% for the entirety of the loan, with nothing down, you'd have paid down $49k in principal after 7 years. That'd net you under $42k after paying realtor commissions when selling.

But, either way, I'd wager that the $22k isn't far off from the $40k when you start looking more closely, property taxes over that period, PMI, homeowners insurance, flood insurance, HOAs, maintenance, repairs, closing costs when you refinanced, etc.

And all this is historical. The numbers will look significantly different since that $120k home is likely $240k and at a 7% interest rate.
Reply Quote
1 edit
javajaws
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
3:18p, 8/22/23
AG
Sometimes you just have to sit back and laugh at the misery we put ourselves through with all of these creature comforts we have. Years ago I made a conscious decision to "cutback" on things that don't matter to me and don't make my life better (quite the opposite actually).

1) No ice maker in the fridge - the things always break, take up space, and the ice tastes like crap. I buy crystal clear ice instead.

2) I replaced my sink and unknowingly put in a sink that wouldn't fit a garbage disposal (sink was too deep). So I removed it! It never fails now! Its been like that for years now and I don't miss the garbage disposal at all.

3) I've accepted dead grass as a way of life in Texas. No longer have to repair the sprinkler system, saves water, and I added some hardscape to replace the dead grass in parts of the front yard. Less work, and less money to maintain. Screw those lawn of the month people.

My AC unit is original to the house (over 20 years old) and mysteriously keeps running fine. Every couple years I have to replace the capacitor and had to replace the motor once. Learn to DIY keeps costs down and you don't have to wait on some guy to come out and fix it for you. I refuse to outright replace the thing until it really craps out. I think its lived so long because I keep it running 24/7 it seems like lol. Seriously though...keeping it colder means less on/off cycles!

10 or so years ago we bought a used washing machine from someone in the neighborhood for like $50. Super simple model, not much to go wrong with it. Couple years after I bought it I had to replace the drain hose (DIY fix) because it got a hole from rubbing against the floor for so many years. It's still running today! Meanwhile I see people spending like $1000 or more on a washing machine and just shake my head knowing those things won't last even 5 years.

Almost every major appliance you can buy today is worse than what it will be replacing (thanks to government regulations partly). Oh sure, it'll have all sorts of fancy features and have internet access and what not. But none of that really matters and just adds to the cost (both initial and maintenance). Buy quality, and buy simple. Ignore everything else.

Basically, I've found that the more you spend now, the more you'll have to spend later. So whenever possible I just refuse to play the game.
Reply Quote
6
62strat
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to htxag09 • 4:08p, 8/22/23
AG
htxag09 said:


Say you rented, your apartment was $750/month. That delta to your average is $150/month.
I stopped here.. because the $750 rental was a 1 bedroom, maybe 600sf?

my house was a 3 bedroom 1600sf. A rental of that size at the time would have been higher than my mortgage by several hundred dollars.

Reply Quote
62strat
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to htxag09 • 4:18p, 8/22/23
AG
Quote:

I also am not sure on your $40k number, I mean I believe you but just looking at mortgage payback schedules I think you may be underestimating the appreciation impact. If you had a 15 year note at 3% for the entirety of the loan, with nothing down, you'd have paid down $49k in principal after 7 years. That'd net you under $42k after paying realtor commissions when selling.
I just know we paid $120, we sold for $127 (already mentioned this.. that is $7k right there)
We owed 80 something when we sold, and we reused our realtor that sold us the house, she cut commission in half. We put $0 down on the house.

We netted right about $40k. It went straight to our down payment of current house which has had a roughly $2k total monthly payment since we bought it. Rent near us for 3br/2 apt is $3k today, we have a 4ksf 5/4 house. So all your math above about investing the difference.. the rent is higher, and it always has been (for same size dwelling)

Today we have ~$600k of equity in that house ($40k down, have paid down principal another $60k, and about $480k of appreciation).

Care to run the numbers on that one?

Did we get lucky? Maybe. but we would have never known if we didn't buy and continued to rent. I've never seen it cheaper to rent a similar sized dwelling compared to buying.. even at 7%.

maybe in the 80s at 14%, but not in my adult lifetime.

Reply Quote
1
htxag09
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to 62strat • 5:22p, 8/22/23
AG
My last comment, but yes, anything in the past ten years will show buying was better than renting. Cheap money and rising home prices. But even that is inflated in the sense that the vast majority of people who see that equity in their home won't/can't capitalize on it. They'll just roll it into a new, bigger, more expensive home.

So, look at someone making that decision today. 7% interest rates and high home prices have skewed things from 10 years ago. My first example and main point of my first comment, our current home, the one we've been in the last 11 years is a perfect example of things being skewed now. Or, in reality the last 10 years being skewed compared to historical. Rent is $3,500. Buying, with 10% down, would be mortgage, taxes, and insurance of $4,200.

And this is houston, one of the few cities where it's still considered cheaper to own vs rent….

https://www.attomdata.com/news/market-trends/home-sales-prices/attom-2023-rental-affordability-report/

To reiterate, I love home ownership. That's why I'm buying a second home vs renting. I don't think it's a bad or dumb investment or use of money. But I also don't think it's the best way out there to help me build wealth.
Reply Quote
2 edits
JSKolache
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
10:34p, 8/22/23
AG
I been having lots of appliance issues lately as well. 2 repair guys said get a whole home surge protector. Power flashes (which we get alot) are killing my stuff. Ordered a plug-in SP for breaker panel on amazon, should be here tomorrow...
Reply Quote
akaggie05
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
10:58p, 8/22/23
AG
Had a really close lightning strike a few months ago and a lot of stuff hasn't been quite right ever since. Luckily seems to be mostly isolated to electronic dimmer switches and LED bulbs, but have been noticing dishwasher behaving strangely and few other random wtf things. That said, I'd pay for a good thunderstorm at this point.
Reply Quote
ABATTBQ11
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
1:39a, 8/23/23
AG
25 year old home
Reroofed as soon as we moved in
Replaced the original AC in 2020
Got a new dishwasher this year
Replaced a couple of faucet cartridges and the kitchen faucet along the way

Added a deck, patio, and water softener. Had the backyard resodded.
Reply Quote
91AggieLawyer
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to wcb • 1:59a, 8/24/23
AG
wcb said:
Reloadags1998 said:
Home-ownership is still better that renting.
Generally I agree, but given what property taxes and insurance are doing these days I'm starting to change my mind.

Renters pay property taxes and insurance. Its called rent. They just don't get to count it as what it really is. Then, they have to go out and get additional insurance to cover THEIR belongings.

Homeowners don't rent their properties to lose money on them. Even in the '80s when passive losses were allowed, rent still covered a large part of PITI and other home expenses.
Reply Quote
2
tgivaughn
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
8:46a, 8/24/23
AG
I tend to agree with Reloadags1998's suspects which would tell me to have a NEW Master electrician evaluate my situation, e.g. verify copper adequate wiring/breakers, et al.

We have not had any reports of homebuilders buying appliances, etc. from 2nd-hand/problem stock outlets to shave costs ... yet.

Can you remind & reveal more about this house?
It was custom designed & built
It was a spec.house
It was new, new-to-you (so real age = ??)
If it had a previous Owner, did you talk to them about all this?
Surge protectors (some stay lighted = protection in ON until worn out):
whole house & how old? (some tend to get drained of 300 joules/yr until nothing left to protect)
on special/high dollar appliances?

Any comments from appliance repairmen ... if any?
Ten words or less ... a goal unattainable
Reply Quote
Refresh
Page 1 of 1
 
×
subscribe Verify your student status
See Subscription Benefits
Trial only available to users who have never subscribed or participated in a previous trial.