CtScrtDsse wrote: ↑Tue Oct 12, 2021 2:30 pm About a year ago, my spouse in I bought a house in which we thought we wanted to raise our family in. We just got out of student loan debt last year, and put a down payment on our $501,000 house last July built in 2003. 14 months later it has been the ultimate money pit. We've already had to put $17,000 out of pocket into it but now there are some additional major plumbing issues (another conservatives estimate of $13,000-$15,000). Some of it seems like "bad luck" other parts seem like very poor construction. Homeowners insurance is covering very little (flooded kitchen). I'm 8 mo. pregnant and exhausted. We've putting every dollar when earn into this house. We had an initial inspection and it showed none of these initials issues. I'm probably partially just ranting, exhausted, and overwhelmed, but has anyone had any other experiences or recommendations? I'm just at my ends.
1) Broken /Replaced Water Heater Fall 2020 $75 *
2) Broken/Replaced Garbage Disposal Fall 2020 $75 *
3) Broken/Replaced Refrigerator Ice Dispenser Fall 2020 $75 *
4) Fixed Drain in upstairs bathroom Winter 2020 $200
5) Fixed Faulty electrical work in Basement/Garage/outside
*lost entire freezer full of breast milk Winter 2021 $500
6) Fixed Outdoor columns Spring 2021 $12,700
7) Lightning strike---broken electronics Spring 2021 $1,100
8) Woodpecker damage/pest spray Spring 2021 $600
9) Leaking sump pump line in backyard
• Two different tubing sizes used, replace ? $500
• Sump pump drain in neighbors yard, retrench ? $1,500
• Resod backyard ? $1,000
10) Dishwasher leak
• Two different tubing sizes used, replaced $20
• Fans and dehumidifiers prevent mold $1,200
• Replace cabinets, possible floor ? 2,000
11) Pike Leak beneath House
• Diagnosis by Reliable Leak Detection $500
• Reroute pipe ? $8,000-$10,000
Total: $17,065 ?13,000-$15,000
Welcome to home ownership! It sounds like you're just frustrated, but don't give up! Life throws a lot at us, especially early in life. Home ownership is great but it comes with a lot of extra unplanned expenses. From your list you have had 2 big expenses and sounds like 1 more to tackle. Fix it, after obtaining 3 quotes, and rest assured this won't ever have to be fixed again. To break down your list...
# 1 - 5 very inexpensive fixes
# 6 is a big expense
# 7 - bad luck
# 8 - 10 normal house expenses
# 11 - Another big expense, but necessary
I can't think of a better alternative here. Sell and try to cover up the problem? Or disclose it and move on to another home that may need more work? Or luck out and find a home that's in better shape but you have to deal with moving with a newborn? Your house isn't the "ultimate money pit". Imagine needing a new heating system, finding black mold, needing a new roof, structural beams rotted out by termites, needing new electrical system, etc.
At 40, I've owned my house now for 9 years. Every year I've had major expenses to the tune of about $10k / year. Some necessary, some vanity.
1) Black mold inside our roof that inspector didn't identify (replaced roof down to beams)
2) new heating system (old one was rusted out)
3) new siding (better than hiring a painter or risking falling off a ladder every few years IMO)
4) removed 9 trees due to rotting/dying, new shed (old one not salvageable).
5) Repaired and replaced almost every major appliance (all crapped out)
6) converted from oil to natural gas after leak in oil tank
7) completely renovated back yard
8) New paver walkway I did myself
9) Professionally poured driveways (2), patio and walkway
10) Half French drainage system (basement constantly flooding)
I know I'm missing a lot here but these are the bigger expenses. All > $2k. And we are not wealthy, we are a middle income family. But we stayed here because of several factors: location, great home layout, affordable price point, nice neighbors, and along with location comes less traffic, decent schools, kids friends, sports etc.
If you can check several boxes from the above list as to why you want to remain in the home, pay for the next big expense and stay.
Deep breath. You guys got this!