Costs of owning a house

[jimnjana]

Quote:

Originally Posted by Oldbabe 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]

[quote=jIMOh;638193]
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]

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.