Costs of owning a house

[free4now]

How long have you owned your residence? 9 years
how much sg ft? 1100

How often have you replaced carpet? once, upon selling
cost per sq ft? About $3 IIRC for cheap stuff

How often have you painted interior walls? Once on average- some walls painted upon movein, and the others painted upon selling
How often have you replaced siding (or painted outside)? My condo was painted twice outside.
How often have you replaced gutters? Once
How often have you replaced roof? Once; the roof was almost new when I moved in though.
How often did you replace HVAC? Never, but was on the verge upon selling
How often did you replace hot water heater? Condo assn replaced it once
Any other frequent repairs? Slab cracks fixed several times at cost of approx $15k total. Outside drainage improvments made several times, costing say $3k for my condo's share.

Many of these repairs were not made because they were strictly required but rather because they were necesary to preserve saleability. This is I think an important thing for a new property owner to learn, something that I didn't learn until I was getting ready to sell. You (or your estate) will have to sell your home sometime and when you do you'll need to get it totally clean for the sale. So don't think about how long something will last before it breaks, think about how long you can let something go before it becomes a liability to a sale, and fix it at that point so you don't have to deal with it under the pressure of a move.

 

[Keim]

I'll see what info I can provide

My house (built new in 2005) has not needed repairs yet. I am trying to estimate costs (how much and how often they occur).

A question for long time home owners:

How long have you owned your residence? 10 years
how much sg ft? About 2400

How often have you replaced carpet? Mostly hard wood, which was finished about 8 years ago. Also replaced carpet in bedrooms at that time.
cost per sq ft? Don't recall.

How often have you painted interior walls? Once
How often have you replaced siding (or painted outside)? Painted once. Cost per sq ft? Did it myself-so the cost of supplies and time (Did it by handroller-took 1.5 weeks-I worked sllooowwww)
How often have you replaced gutters? Haven't. cost per sq ft?
How often have you replaced roof? Haven't. It was last done in mid 90s cost per sq ft?
How often have you replaced carpet? You already asked this! cost per sq ft?
How often did you replace HVAC? Haven't. Did have furnace repairs once, about 3 years ago.
How often did you replace hot water heater? I've replaced it once since I bought the house. Plumber told me it was about 15 years old.
Any other frequent repairs? Driveway, floors or other? Nothing frequent. Did spend $3000 to replace the main plumbing line in from the street in 2007. But that doesn't qualify as frequent, when it is the first time in 50 years.

Try to decipher what was a normal home repair vs a known fixer upper house at time of purchase. Looking for maintainance costs and how often they occurred.

 

[TargaDave]

How long have you owned your residence? 15 years (designed and finished a good protion of it)
how much sg ft? 3,600 above ground

How often have you replaced carpet? never (only 600 sq ft carpet 3rd floor, rest HW)
cost per sq ft?

How often have you painted interior walls? (kids rooms several times, several rooms with "pho" finishes, then as needed once before selling. NO WALLPAPER!)
How often have you replaced siding (or painted outside)? Odd combo of wood trim and vinyl siding. Some wood trim replaced with new composite boards Cost per sq ft? I'm cheap labor though working outside on those 3rd floor dormers requires some guts, material cost negligable
How often have you replaced gutters? Never, some minor repairs cost per sq ft? negligable
How often have you replaced roof? 50 year shingles. About 5 square replaced due to manufacture defect cost per sq ft? Mostly covered by warranty
How often have you replaced carpet? cost per sq ft?
How often did you replace HVAC? Never but one $300 repair job on a leaky condenser pipe
How often did you replace hot water heater? Replaced once. (hard water). Live with 3 females. Upgraded to an 80 gallon NG unit.
Any other frequent repairs? Driveway, floors or other? Refinish 1st floor hardwood once (self inflicted backbreaking cheap labor), driveway seal twice. Reset paver patio once with new polymeric sand (prevents weeds). Replaced Doug Fir porch decking and steps with new composite decking once. Several central AC refrigerent recharges over the years. Replace kitchen laminate with granite and undermount sink just prior to selling

House sold in 4 days (over the listing price and serveral broker listing estimates). Closing on Monday Our (old and tiny) retirement beach box in NC probably worth 10% less than what we paid for it so it all seems to wash in the end.

If your going to learn a serious money saving skill, home design-construction-repair-decorating is a great one! Need to pick your battles carefully, and have great relationsip with your SO for this to work

Good luck

 

[Delawaredave5]

The "major systems" of US homes appear engineered for 15-20 year life.

Our neighborhood is 20 years old. The first 15 years, I only saw contractors around for "electrive upgrades" (pool, additions, etc).

For the last 5 years, all the contractors have been "mandatory replacements" - roofing, carpets, furnaces, etc

If I did it over again, I'd buy a new house and move to a new house every 15 years. The "mandatory replacements" cost money that you do not recoup in resell. Avoiding these "mandatory replacement" costs would pay for the transaction costs going to a new house.

Carpet: $5k
Roof: $8k
Furnace: $4k
Kitchen refresh: $4k
Windows: ??

 

[Ronstar]

How long have you owned your residence? 15 years
how much sg ft? 3400

How often have you replaced carpet? replaced about 1000sf 2 months ago
cost per sq ft? About $3.50

How often have you painted interior walls? most rooms 2-3 times
How often have you replaced siding (or painted outside)? I have brick, but I've stained soffit/overhang about 4 times
How often have you replaced gutters? Never
How often have you replaced roof? Not yet.
How often did you replace HVAC? Once
How often did you replace hot water heater? 3 times for about $300 each time
Any other frequent repairs? Landscaping costs usually around $1000 per year. Sealing driveway about $1000 every 3 years.

 

[happy2bretired]

Question: Why do people seal their driveways? Curious...maybe something I should do?

 

[jIMOh]

The "major systems" of US homes appear engineered for 15-20 year life.

Our neighborhood is 20 years old. The first 15 years, I only saw contractors around for "electrive upgrades" (pool, additions, etc).

For the last 5 years, all the contractors have been "mandatory replacements" - roofing, carpets, furnaces, etc

If I did it over again, I'd buy a new house and move to a new house every 15 years. The "mandatory replacements" cost money that you do not recoup in resell. Avoiding these "mandatory replacement" costs would pay for the transaction costs going to a new house.

Carpet: $5k
Roof: $8k
Furnace: $4k
Kitchen refresh: $4k
Windows: ??

My thought is the comment of move before repairs is penny wise, dollar foolish. If the 21k of repairs is ammortized over 10 years (120 months) and $175 is set aside each month for these eventual repairs, that is a better way to than moving and taking on risk that new house will have basement crack, something valuable will break in the move, not to mention the stress of the move itself or trying to sell the old house.

 

[Ronstar]

Question: Why do people seal their driveways? Curious...maybe something I should do?

It helps repel moisture, and here in the upper midwest this is important because the freeze thaw cycle will destroy asphalt pavement with some water in it.

 

[Bimmerbill]

How long have you owned your residence? 15 years, built in 1976
how much sg ft? 1400, Ranch style, garage under

How often have you replaced carpet? Once, carpet in the bedrooms, hardwood elsewhere
cost per sq ft? About 900 for 3 bedrooms

How often have you painted interior walls? Once when moving in. Doing several rooms now tho as my wife is tired of "Eggshell"
How often have you replaced siding (or painted outside)? Painted once, but had Masonite. Had new windows and vinyl siding put on
Cost per sq ft? 12-15K?
How often have you replaced gutters? Never, some minor repairs cost per sq ft? negligable
How often have you replaced roof? Once, had 50 year shingles put on by Home Depot. cost per sq ft? About 10K, but added ridge vents etc
How often did you replace HVAC? Dont have it
How often did you replace hot water heater? Just replaced furnace (oil boiler) and had an on-demand hot water heater installed. $6600
Any other frequent repairs? Driveway, floors or other?

When I bought my house it still had its 1976 decor. Red countertop, shag rug (gold, yellow, baby blue) etc. I spend a lot updating it and replacing old items.

I still sometimes think of selling and moving into an apartment where there will be less work. Lawn mowing in the summer, snow blowing in the winter, all the maintenance etc.

 

[happy2bretired]

Thanks Ronstar...think it might be something for me.

 

[Martha]

From reading this thread, it appears people paint their interior rooms a lot less than I do. I tire of a color after 3-4 years and repaint. Our living room has stayed the same color for 12 years, but every other room has had a variety of looks.

But, in the scope of things, paint is cheap. And after all the years of painting, I am really good at it.

How long have you owned your residence? 13 years.
how much sg ft? Our apartment in the building we own is about a 850 square feet, not including basement.

How often have you replaced carpet?
cost per sq ft?

No carpet. Refinished wood floors when purchased, installed new marble floors in bath.

How often have you painted interior walls? A lot, taste driven.
How often have you replaced siding (or painted outside)? Cost per sq ft? Brick. Did have to do brick work on chimney at a cost of about $8000.
How often have you replaced gutters? cost per sq ft? No gutters.
How often have you replaced roof? cost per sq ft? Once when we bought the place, don't recall cost.
How often have you replaced carpet? cost per sq ft? N/A
How often did you replace HVAC? No air conditioning and not needed. Our boiler had a recall and was rebuilt about 8 years ago at no cost to us.
How often did you replace hot water heater? Our water heater services 4 apartments. We replaced when we purchased the place and is still functioning fine.
Any other frequent repairs? Driveway, floors or other?
Replaced exterior staircase at cost of $3000 12 years ago. Replaced rotted back porch floor with cement slab, cost was several hundred dollars. Painting trim for our three story 6000 square foot building about 6 years ago cost about $4000. And we did some of the lower work ourselves. Windows are old and we replaced two, custom sized and was fairly pricey--don't recall cost.

Our driveway was repaved maybe 5 years ago and should be sealed every couple of years. We have a parking area that needs a new coat of asphalt. We have a wood retaining wall in the back that needs replacing. We did a front retaining wall at cost of about $6000 several years ago. We did a steel fence 4 feet high and maybe 250 to 275 feet in total length at cost of $12,000 about 6 years ago. We redid our bath and kitchen on the cheap, doing part of the work ourselves. Doing the bath required us to put in another bath first. Total cost for two baths plus kitchen was maybe $15,000.

In the 13 years we have lived there, we have replaced once the fridge, stove, dishwasher, washer and dryer. All had pooped out.

 

[TargaDave]

Question: Why do people seal their driveways? Curious...maybe something I should do?

Extends the life of an asphalt driveway (concrete is a different beast). Relatively easy to do though a wee bit messy. You can always hire someone if you are not so inclined. Well worth the expense. One of several jobs DW and I enjoy doing together.

 

[Delawaredave5]

Question: Why do people seal their driveways? Curious...maybe something I should do?

I think it just makes the driveway pretty. I do it only if my neighbor does it - makes DW happy.

Even with high quality coatings, I doubt a whole lot of "sealing" is going on.

I think the biggest determinant of asphalt driveway life is slope - neighbors that have sloping driveways look great after 20 years.

Neighbors who have flat driveways have "ruts" - even those who "seal religously".

 

[Khan]

A question for long time home owners:

How long have you owned your residence?
About 30 years
built 1940s

how much sq ft?
Just under 1000

How often have you replaced carpet?
once in one bedroom

cost per sq ft?
don't recall ... Home depot ...~150 sf

How often have you painted interior walls?
stripped wallpaper off 2 bedrooms, one painted white, one pale wood paneling; bathroom painted white

How often have you replaced siding (or painted outside)? Cost per sq ft?
Had outside covered with insulation and vinyl siding; don't recall cost

How often have you replaced gutters? cost per sq ft?
once; don't recall cost; need to do again

How often have you replaced roof? cost per sq ft?
once, about 12 years ago; about $4000

How often have you replaced carpet? cost per sq ft?
replaced carpet in 1 bedroom; replaced kitchen carpet with vinyl 8 years ago

How often did you replace HVAC?
new boiler 1 year after buying house (29 years); got hand-me-down window A/C 3 years ago; new unit summer '07

How often did you replace hot water heater?
every 8 years, but 12 for most recent after water softener

Any other frequent repairs? Driveway, floors or other?
insulated attached garage
rewired entire house
water softener
replaced all outgoing plumbing
redid bathroom: new vanity sink flooring toilet, removed tub
redid kitchen: new fridge sink counter stove dishwasher flooring cabinets

 

[Moemg]

How long have you owned your residence? 6 years
how much sg ft? 3000

How often have you replaced carpet? Mostly hardwood floors and tile
cost per sq ft?

How often have you painted interior walls? Once and now doing it againHow often have you replaced siding (or painted outside)? Painted outside once
Cost per sq ft? $3,000 total
How often have you replaced gutters? No gutters
cost per sq ft?

How often have you replaced roof? Na,house was only two years old when I moved in

How often did you replace hot water heater? Not yet

Any other frequent repairs?

Driveway, floors or other? Remodeled kitchen ,put in pavers , new sea wall, landscaping , and redecorating

 

[jimnjana]

What I've learned about buying into a townhome/condo development is this: read the HOA meeting minutes back issues, as many as possible. Also look carefully at their budgets and check out the reserves. Talk to the management company and the HOA board president, if possible. Talk to neighbors, if you don't mind being nosey. You can find out if there have been any special assessments. Sometimes it's the only way to find out!

Also, have a building inspection done, not just the interior.

You would be surprised by how many people buy a townhome/condo without doing this research. Then when the HOA fees rise, they show up at the HOA meeting all bothered because they don't want to pay more.

Good points, also inquire as to who controls the HOA. Many new developments HOAs are controlled by the builder, owners get little say and the builder maynot be operating the financial books of the HOA in an honest manner. Jim

 

[SteveR]

How long have you owned your residence? 5 Years but the house is 18 years old
how much sg ft? 6400

How often have you replaced carpet? We replaced two rooms in 2007
cost per sq ft? No idea

How often have you painted interior walls? Repainted 75% of the interior over a 3 year period. Usually repaint every 8-10 years depending on kids or grandkids living in the house.
How often have you replaced siding (or painted outside)? Cost per sq ft? 90% brick and the rest is stucco. We replaced one face of stucco when we replaced some damaged windows.
How often have you replaced gutters? cost per sq ft? No
How often have you replaced roof? cost per sq ft? We have a 30 year roof so it is still OK. We replaced a roof on another house after 20 years (hail stones).
How often have you replaced carpet? cost per sq ft?Same as the first carpet question.
How often did you replace HVAC? Not yet (keeping my fingers crossed).
How often did you replace hot water heater? Not yet but we replaced on after 10 years in another house.
Any other frequent repairs? Driveway, floors or other? Driveway was replaced in 2006. Major issues with the grading and gutter downspout drains. 2000 sq. ft. ran $14,000
We have 1200 feet of oak floors that required refinishing when we moved in. They are a bit scratched (Dogs) but still in very good shape.
quote]

 

[happy2bretired]

How long have you owned your residence? 9 years
how much sg ft? 1300+

How often have you replaced carpet? no would like to
cost per sq ft? N/A

How often have you painted interior walls? some rooms once - my do it yourself days are OVER
How often have you replaced siding (or painted outside)? no -vinyl siding
Cost per sq ft? N/A
How often have you replaced gutters? cost per sq ft? no
How often have you replaced roof? cost per sq ft? no
How often have you replaced carpet? cost per sq ft? no
How often did you replace HVAC? no but repaired a few times
How often did you replace hot water heater? no
Any other frequent repairs? Driveway, floors or other? added deck
had some landscaping done, repair on broken springs on garage door

 

[rgarling]

2900 square foot, house in NC

roof 20 year life 7000 replace
interior paint 10 year life 5000 repaint (more dependent on fashion than need)
exterior 8 year life 5000 repaint
hvac 15 year life 7000 replace (per zone)
misc (plumbing, appliances, etc) a thousand per year should cover this easily

this sums to about $250 per month in maintenance expenses.

 

[aenlighten]

Costs

How long have you owned your residence? 18 years
how much sg ft? 1500

How often have you replaced carpet? 12 years
cost per sq ft? $2.22 installed plush

How often have you painted interior walls? Low lustre once (flat would be very often) $1400 inside (hired) about time for another though
How often have you replaced siding (or painted outside)? Painted $1600 outside (hired) wood needs it ~10 years, stucco never
How often have you replaced gutters? cost per sq ft? Never (more work than cost)
How often have you replaced roof? $5500 (25 year)
How often have you replaced carpet? cost per sq ft? 12 years $2.22 installed
How often did you replace HVAC? Once $6060
How often did you replace hot water heater? Once $220
Any other frequent repairs? Driveway, floors or other? Repiped $4400 Refaced cabinets $5400 Vinyl tile $2/sf Ceramic $5/sf
Never had to replace the a utility line but could easily run over $5000 if you have to dig up any concrete. Overall, something like $2500 a year.

Remodeling will far exceed the cost of any maintenance but you should plan on it eventually. How much you hire and how much you do yourself will also affect these since most repairs are labor. Granite ~$75/linear foot installed. If you just have to have blue pearl granite it will also cost you a lot more. A nice kitchen $50,000. Masterbath $20,000. My brother is remodeling a house my size for about $90,000.