Costs Associated with Buying a House

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Forum -> Household Management -> Finances

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amother

Ivory

Mon, May 07 2018, 11:42 am

Hi. I'm wondering what the average amount spent is when buying a house, not in terms of closing costs, major renovations or moving costs. But for the small repairs, fixing this or that, add a wall or take one down, etc. How much did you shell out for repairs in the first few months of your home-ownership?

amother

Goldenrod

Mon, May 07 2018, 11:46 am

30k

amother

Blonde

Mon, May 07 2018, 11:48 am

this really depends on what shape the house was in when purchased.

amother

Ivory

Mon, May 07 2018, 12:25 pm

OP here. House is in decent shape. A lot of cosmetic repairs which can be done down the line. Some minor work that must be done- two leaks with source likely known, enclosing a porch that is off a kids bedroom.

amother

Cobalt

Mon, May 07 2018, 12:38 pm

I don't think taking down a wall is in the category of small repairs. FYI, window treatments, painting and refinishing floors can be quite expensive. So is buying mezuzas (or checking the ones already there). Then there are small things you may have to buy, like smoke alarms, garbage cans and baby gates for the stairs.

amother

Blonde

Mon, May 07 2018, 12:42 pm

amother wrote:

Okay. Still hard to say what this would cost to fix.

Is this a house you have purchased, or something you are considering buying? You really need the input of someone who has been in the space.

amother

Cerulean

Mon, May 07 2018, 12:44 pm

I built a house and spent probably about 10k on stuff needed still. Everything adds up. The towel and toilet paper holders. Shades. Mezuzas. Garbage cans. Just tonzzzzz of little things. Outdoor light fixtures. Some mirrors. Door stoppers. Etc

amother

Ivory

Mon, May 07 2018, 12:45 pm

OP here. I have the basic cost of the repairs I know of. I'm wondering how much to estimate for the unexpected.

amother

Blonde

Mon, May 07 2018, 12:55 pm

amother wrote:

OP here. I have the basic cost of the repairs I know of. I'm wondering how much to estimate for the unexpected.

unexpected repairs? - or overlooked things like as the other poster noted, buying garbage cans for each room of the house.

I don't think you can truly budget for the unexpected. What you need to a plan as to where you'd get the cash from if it does. Like a secured line of credit.

noting also that home owners insurance serves the purpose of providing cash, when applicable.

watergirl

Mon, May 07 2018, 1:00 pm

amother wrote:

OP here. I have the basic cost of the repairs I know of. I'm wondering how much to estimate for the unexpected.

How is taking down a wall or putting up a wall considered unexpected?

Chanale1

Mon, May 07 2018, 1:01 pm

Where do you live? Can be quite different in Israel vs different part of the US vs different European countries vs Australia.... etc

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