Post FIRE Major Expenses

[aja8888]

I hit the $10K annual deductible for health insurance two years in a row, so that's $20K.

That's just a small portion of the total bill of 6 figures, so am not complaining.

I would rather have the choice of complaining about the cost of a new roof or septic system.

PS. I should not incur that kind of expenses next year. I already have enough surgery scars on my body.

There's always room for more scars! (and tattoos).

It makes sense to put off new hip/knee replacements until Medicare. I saved about $50,000 that way (new total hip implant - Anterior procedure).

 

[meierlde]

In 10 years I have replaced the 3 hvac units for 14k, painted the house outside for 2k, a couple of new garage door openers (it appears that lighting will get them), a new water heater for $700, a new fridge for 1170, a new washer dryer for 800 and a new riding lawn mower for 2k.

 

[fh2000]

Next project, 3-5 years a new roof, $6-8000 dollars per the roofer I talked to depending on three tab shingle or fancy shingles. I need some hail damage so my insurance will cover most of the cost.

Not retired yet. But in Southern California, my quotes are > $11,000 for shingles. I have 2 layers on already, so, the next one will be complete tear off. So, I am preparing at least $15,000 for the roof.

 

[ERD50]

...
We did an on demand water heater a few years ago. Love the efficiency.

We replaced our nat.gas furnace a few years ago. Much more efficient than the 1960's model it replaced.

I'd be curious to see your payback calculations on an on-demand (tankless) water heater. I've never been able to get it to pencil out with the increased cost, not even accounting for increased maintenance and likely increased installation costs ( they need a much larger supply line than the conventional types which heat over a longer period).

The main cost is heating the water from ~ 60F to ~ 130F in the first place, which is done in both cases. Maintaining that temperature in an insulated tank overnight is a fairly minor energy sink.

Now an NG furnace form the 60's (surprised it is still working!) is likely only 50% efficient, maybe less over time? Depending on how much heating you do, this can definitely have a short payback.

-ERD50

 

[Kaufmanrider]

Not retired yet. But in Southern California, my quotes are > $11,000 for shingles. I have 2 layers on already, so, the next one will be complete tear off. So, I am preparing at least $15,000 for the roof.

California prices. I moved to Texas in 2003, home improvement projects tend to be cheaper (as is housing) in Texas.

My concrete guying coming Monday for my pool deck told me he used to do concrete in Union City (SF Bay Area) for 20 years. Just got to expensive and all the regulations cut his profit margin so much he came Texas to run a business.

 

[NW-Bound]

It makes sense to put off new hip/knee replacements until Medicare...

The surgeries I had were not the type that could be put off. I would be .

About tankless water heaters, it would not save me any money when my children lived at home. They only got out of the shower when the water ran cold!

And now, I have demand rate where a KWh costs 7.17 cents off-peak, but 21.22c on-peak. I need to "bank" that cheap hot water to coast over the on-peak period.

PS. In the summer, on-peak hours are from 1 to 8 PM.

 

[REWahoo]

Not retired yet. But in Southern California, my quotes are > $11,000 for shingles. I have 2 layers on already, so, the next one will be complete tear off. So, I am preparing at least $15,000 for the roof.

For comparison to TX prices, my three bids to tear off and replace my 5,400 SF surface area roof were all in the $15K range.

 

[MichaelB]

For comparison to TX prices, my three bids to tear off and replace my 5,400 SF surface area roof were all in the $15K range.

Looks pretty reasonable to me.

The largest single expense items we planned for are weddings for our children. One has been paid, the other two are committed and the funds set aside.

 

[NW-Bound]

Ah, weddings. That's an anticipated expense coming up next year.

Left to themselves, they would elope to Las Vegas to save money, and I do not blame them. But to have a more conventional wedding as I am old-fashioned, it will cost a bit more money, even for one that's not so elaborate. So, I will gladly help.

 

[REWahoo]

Looks pretty reasonable to me.

It's all relative, eh?

 

[ERD50]

...

About tankless water heaters, it would not save me any money when my children lived at home. They only got out of the shower when the water ran cold!

And now, I have demand rate where a KWh costs 7.17 cents off-peak, but 21.22c on-peak. I need to "bank" that cheap hot water to coast over the on-peak period.

PS. In the summer, on-peak hours are from 1 to 8 PM.

I never thought about the peak vs non-peak rates. That would certainly put a tankless unit in the red! But I bet some people have installed them under those conditions, figuring they were being 'green' and were going to save money because they weren't 'heating 40 gallons of water all night!'.

Of course the main reason I never thought about it is that we have NG and there are no peak rates.

But I also find it amusing, in a sad way, that these things are advertised both for energy savings, and for 'endless shower' and 'hot tub filling' capability.

-ERD50

 

[W2R]

For comparison to TX prices, my three bids to tear off and replace my 5,400 SF surface area roof were all in the $15K range.

Looks pretty reasonable to me.

The quote for the roof does, maybe. But 5400 square feet, for two people in their 60's? Even including an attached garage under that roof, I just can't even imagine.

If that house was mine, I'd sell it and downsize ASAP (but then, "different strokes for different folks").

 

[NW-Bound]

But I also find it amusing, in a sad way, that these things are advertised both for energy savings, and for 'endless shower' and 'hot tub filling' capability.

-ERD50

I installed a timer for the water heater to cut it off during the on-peak period.

We quickly learn to limit our hot water usage when seeing that the hot water is becoming lukewarm. Needless to say, if one forgets and takes a shower during the on-peak period, it is sure going to be a short one. Heh heh heh... Net result: savings on water in addition to electricity. Heh heh heh...

 

[REWahoo]

The quote for the roof does, maybe. But 5400 square feet, for two people in their 60's? Even including an attached garage under that roof, I just can't even imagine.

If that house was mine, I'd sell it and downsize ASAP (but then, "different strokes for different folks").

Note the key words: "surface area." I'm not engineer and numbers isn't easy for me, but even I know the roof SF is far larger than the living area SF.

The roof has three dormers, is steeply pitched, and includes large porches in the front and back plus a large screened-in porch leading from the house to the oversize two-car garage. Excluding those areas the SF of our living space is ~2,300 - and that will seem small next Monday when we host our five grandchildren for a week of "Grandma Camp."

 

[Derslickmeister]

Termites!!! Caused a major bathroom renovation, $25k plus the cost of treatment and ongoing monitoring....

 

[W2R]

Note the key words: "surface area." I'm not engineer and numbers isn't easy for me, but even I know the roof SF is far larger than the living area SF.

The roof has three dormers, is steeply pitched, and includes large porches in the front and back plus a large screened-in porch leading from the house to the oversize two-car garage. Excluding those areas the SF of our living space is ~2,300 - and that will seem small next Monday when we host our five grandchildren for a week of "Grandma Camp."

What fun! I'll bet those grandkids are going to have a ball running around in all that space. Hope they don't wear grampa and grandma out. Chasing after them sounds like a great way to stay young.

My roof was replaced two years before I bought this house, so I haven't had to replace it yet. In fact, I haven't replaced a roof since 1989 back in College Station. At that time I just let my (ex) DH take care of it and paid no attention, because I was overwhelmed with other obligations. I did not realize, or had forgotten, that the roof square footage could be that much more than the home's square footage. Never had a dormer or steeply pitched roof or substantial porch under the roof.

 

[JakeBrake]

This info is somewhat outdated. My roof was replaced in 2008 because of hail damage. Cost $10,850. Insurance covered everything except deductible.

1. Replace 67 squares of roofing. That would be 6700 sq. ft. The roofing was three tab architectural shingles with 30 year warranty. My roof pitch is very steep. I won't get on the roof. I have about 3,000 sq. ft heated and cooled.

2. Remove old roofing and haul away. In this area no reputable roofer will install a new roof over an old roof.

3. Furnish and install three new turbine roof vents. I don't like ridge vents. I don't have any real reason. I just don't the look. Personal prejudice.

4. Replace flashing around roof penetrations.

The roof was previously replaced because of tornado damage in 1992.

 

[REWahoo]

What fun! I'll bet those grandkids are going to have a ball running around in all that space.

Heh. With the five of them arriving here last evening, plus our two daughters, the two of us and three Labrador Retrievers that occasionally squeezed inside through a closing door (Bumpasses!!), this place seemed very, very small...

 

[martyb]

Note the key words: "surface area." I'm not engineer and numbers isn't easy for me, but even I know the roof SF is far larger than the living area SF.

The roof has three dormers, is steeply pitched, and includes large porches in the front and back plus a large screened-in porch leading from the house to the oversize two-car garage. Excluding those areas the SF of our living space is ~2,300 - and that will seem small next Monday when we host our five grandchildren for a week of "Grandma Camp."

The last roof I had replaced (2008) in Louisiana on a 1900 sf house with attached 2 car garage (not included in the 1900 sf but still part of the re-roof) cost $4500. There was no need to tear off the old roof, since it was the original that was close to 13 yrs old. Hail & other storm damage was the reason for the re-roof. I had to fight with Allstate for a year before they finally caved at the last minute (literally, the adjuster was leaving my house in his car).

 

[Live And Learn]

Termites!!! Caused a major bathroom renovation, $25k plus the cost of treatment and ongoing monitoring....

EEK - I didn't budget for that !!!

I have budgeted for normal recurring expenses (most of which were listed by the OP). I also budget for a new used car every 15 years. I also have a reserve account of $25k for "major system repairs" .... which would cover major plumbing or electrical work.

I did have to replace all the AC ductwork in the attic (rats ... ick). that was $2500 and totally unexpected. That reduced my major plumbing / electrical reserve from 27.5 to 25.0.

 

[Fishingmn]

I budget for major expenses by taking a cost and useful life for each -