Regretting Home Purchase

melagras

melagras

Cathlete
I purchased my house in 2008 and it has been a struggle ever since trying to keep up with the repairs. I haven't been able to put money in a savings account. I had to stop funding my 401k at work to give me more money to work with. I had to give up on eating organic food because the food costs were killing me every month.

I don't like apartment living but I think its time to give up the ghost. Is anyone out there in Catheland going through this same struggle?
 
I am sorry you have been plagued with the constant need for repairs. I'm sorry it's been getting you down. They do say though, that it's the way things are with house ownership: the minute you buy it, it is already in the process of decay and falling apart!

I just bought my first house ever in June, aged 47. I could never, now, go back to renting or being too close to others, such as would be involved in apartment living. I am finally free of the endless noise of others, their crap that is dumped, their comings and goings at all hours of the day and night, to having my sleep patterns determined by other people, having to put up with the stench of their cooking that turns my stomach and invades my living space.

For me, what house ownership means is freedom and peace of mind. Yes, there will always be maintenance, there already is and we only just moved in! But I can't go back, only forwards.

As far as money is concerned, it's always a question of "you save here to be able to spend there." For you it means giving up organic food: guess what? You don't NEED organic food to live, be healthy and be happy. I live in my own house, but as yet, there is no money for any furniture! So, I just live with it. Meanwhile, I browse magazines getting ideas for interior decor and I dream. Little by little, I wil build a home that reflects me and where I am comfortable.

Everything in life is a trade-off, right? What do you need to be comfortable and happier? We all have our own equations. Maybe apartment living is what you need because you need the mental ease and freedom from worry about how to pay all the bills? If so, that's OK, there's nothing wrong with that at all. Just because the trend is toward home and house ownership, doesn't mean you have to jump on the wagon or that you can't decide, having tried it, that all it amounts to is one enormous headache.

I'm not on your road because my trajectory for the last 47 years has been different, but I support you in your need to change your living situation.

Good luck with making your decisions, and acting on them swiftly,

Clare

Clare
 
I think the above poster said it all. There is always something that needs doing whether your home is an older one or brand new.
 
Why do you have to go back to an apartment? Couldn't you sell it and buy a house that has a smaller mortgage there by allowing you to free up some more money to spend on doing things that make life fun?
 
momto4 said:
Why do you have to go back to an apartment? Couldn't you sell it and buy a house that has a smaller mortgage there by allowing you to free up some more money to spend on doing things that make life fun?
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The neighborhoods that would allow me to have a smaller house note are not safe.
 
I can't stand apartment living either, so I understand your reluctance to go back to that. What about renting a house. Any repairs would be the owner's problem, not yours.
 
poachedsalmon said:
I can't stand apartment living either, so I understand your reluctance to go back to that. What about renting a house. Any repairs would be the owner's problem, not yours.
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Where I live, it is more expensive to rent a house than to own a house or rent an apartment. The rent is usually double the amount of the landlord's house note.
 
What type of repairs are you having to make? Are they things that can wait or do they need to be addressed right away? And are you having a problem actually paying the basic monthly bills(mortgage, utilities etc) or is it the repairs that are taking you over the top? I just ask because we don't ALWAYS have repair bills. Sure there are spells where they come, but it shouldn't be something where you are shelling out hundreds a month for household repairs. Maybe you are just having a rough patch and things will get better in a couple months?

Sorry for your troubles. Sounds like a rough spot you are in.
 
atompki1 said:
What type of repairs are you having to make? Are they things that can wait or do they need to be addressed right away? And are you having a problem actually paying the basic monthly bills(mortgage, utilities etc) or is it the repairs that are taking you over the top? I just ask because we don't ALWAYS have repair bills. Sure there are spells where they come, but it shouldn't be something where you are shelling out hundreds a month for household repairs. Maybe you are just having a rough patch and things will get better in a couple months?

Sorry for your troubles. Sounds like a rough spot you are in.
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In October, I had to call a plumber two weekends in a row due to a tub draining into the kitchen sink which caused sewage to back up into the kitchen sink and the washer drain. As always, it was on a Sunday morning when it happens. This is a regular occurrence.

The first week of November the heat pump motor and relay went out. The next week my water heater was leaking. Those items had to be replaced pronto.

My house was built in 1972 when they were using aluminum to wire houses which is a fire hazard. I'm starting to notice issues with outlets throughout the house that need to be re-wired. The last time I called an electrician for this issue it cost me close to $200 for one outlet.

There are damp spots on the kitchen ceiling and on a wall in one of the bedrooms which probably means there is water leaking somewhere.

The window in my gym room leaks when it rains. When there is a really bad storm, it looks like it is raining in that room.

I'm starting to notice all of the cover-ups from the former owner. Whoever she hired didn't do a very good job. The sheet rock tape in several rooms is crumbling. You can see seams coming apart where new sheet rock was hung.

This is all I can think of for the moment.
 
Totally understand and can related. My home and cost of it overwhelms me too at times. Just before my severance ended in 2010, my furnace went out. Then, I had to replace my water heater.
If you think you will succeed, you will. You will decide what's important. If you believe otherwise, you will.
Have you considered reading material from Dave Ramsey or Suze Orman? Both are experts in budgeting and finance.
Since I lost my job in 2011, I had to readjust my budget for benefits so I had to make drastic changes in my lifestyle. My life is simpler but I'm able to care for me and my cats.
Yes, renting is more expensive in cities like Detroit cause so many lost their homes and renting is the only option.
 
So sorry to hear about your home repair problems. When I first bought my condo (which someone now rents form me), I had a similar problem. It seemed like every month some expensive plumbing issue would come up. The HOA fees were going up quite a bit every year and they even had a couple of special assessments! It was a mess. I still have the condo and the repairs have started to taper off but I never know when another big one might be right around the corner. The HOA fees are still going up though so it makes me seriously consider selling the unit.

One thing that might help you save some money is to take some classes to learn how to fix things without needing a repairman. Home Depot offers a decent amount of workshops where professionals will come in and teach people how to do things. They even provide all of the materials for some of them. In addition to this, they offer a tool rental service so that you don't have to buy all of the tools needed for the repair. HTH!
 
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Have you considered reading material from Dave Ramsey or Suze Orman?



Dave Ramsey rocks!!!! Love, love, love his stuff!
 
momto4 said:
Have you considered reading material from Dave Ramsey or Suze Orman?



Dave Ramsey rocks!!!! Love, love, love his stuff!
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Are you implying I need financial help? I don't.

Bottom line: I got stuck with a piece of shit house.
 
I too have a house that is constantly in need of repair, right now our garage door gets stuck and is impossible to move, windows need replacing, almost all of our plumbing leaks and is rusted fast, we already had to replace the boiler $7,000 gone, it's just a never ending list then the big one we were just zoned in a flood zone $1500 a year tacked on to our mortgage and I was devestated but after spending $1200 on a surveryor our house is out of the zone so I am working on getting out of paying or lowering my payment. It sucks you just got to tackle one thing at a time, I considered moving to an apartment but dont want to lose all the freedom a house provides. Good Luck!
 
melagras said:
Are you implying I need financial help? I don't.

Bottom line: I got stuck with a piece of shit house.
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I was just about to say that it sounds like you've got a money pit and not a budgeting problem.

How much of a hassle/pain/financial inconvenience would it be to just cut your losses and sell as is? Not sure where you are so the housing market might not strong enough for you to get out at a level that works for you. But it might be worth considering...unless you really love the house.
 
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melagras said:
Are you implying I need financial help? I don't.

Bottom line: I got stuck with a piece of shit house.
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I was not implying your in need of help, simply that this these materials may allow you to free up more cash for things you want by budgeting your money differently.
Also, did you have the place inspected before you bought it? Sounds like lot of issues could have been caught earlier.
 
I hate that this is happening to you! I am so sick of people getting screwed over so someone else can make a buck off of them. I see that you are a legal secretary; do you have any legal recourse with the previous owner for non-disclosure? I'm sure your mortgage holder would not like the idea that they own a home worth less than their appraisal! I hope that you can find some peace of mind with this soon... :(
 
rainaries said:
I too have a house that is constantly in need of repair, right now our garage door gets stuck and is impossible to move, windows need replacing, almost all of our plumbing leaks and is rusted fast, we already had to replace the boiler $7,000 gone, it's just a never ending list then the big one we were just zoned in a flood zone $1500 a year tacked on to our mortgage and I was devestated but after spending $1200 on a surveryor our house is out of the zone so I am working on getting out of paying or lowering my payment. It sucks you just got to tackle one thing at a time, I considered moving to an apartment but dont want to lose all the freedom a house provides. Good Luck!
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I know exactly what you are talking about. Apartment living sounds so good right now until I look back on all the crap I had to deal with and that makes me hesitant to sell.
 
That totally sucks!! Looks like the previous seller went out of their way to hide stuff. Home inspectors don't typically open up and look behind walls. I've heard lots of stories like this. Go to look at the house on a dry day and it looks perfect. Two months later after a rainy season and it's a mess :mad:

I would have to agree with some of the other comments about trying to do as many things as you can, but it also sounds like a lot of your work needs to be done by a licsened professional.

Sorry I have nothing helpful, but certainly can relate to your situation.
 
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