The Home Ownership Thread

[patrickBOOTH]

I hung my DR chairs on a wall in my first apt. People thought it was a touch odd so I created a plaque that read:
Four Hung Chairs; 1978.
DNM
Toronto, ON.

After that, praise.

lefty

That's great.

 

[RedLantern]

The old house on our property will finally be coming down next week. Should have been done last year, and the local planning officer was getting a bit shirty with us about the fact that it wasn't. We were trying to get it carefully deconstructed for maximum re-use of materials but it seems no-one wants to to do that, so apart from taking the doors and windows out first, the demolition firm will just smash, remove, and then do some limited sorting.

The only question remaining is what we do with the hole that is currently the basement of the old place... it's dynamited into the bedrock so it's as solid as can be, but it's also very wet because it's below the water table. But that's a question we'll have to work out while we're away (we'll be gone for 5 1/2 months from the beginning of August).

 

[RedLantern]

Sounds perfect for a wine cellar. Or dungeon. Or cistern.

 

[double00]

endtimes bunker

 

[Omega Male]

Just found a baldfaced hornet nest way up on the topmost eave of the house. That's going to be fun to get rid of.

 

[beargonefishing]

Just found a baldfaced hornet nest way up on the topmost eave of the house. That's going to be fun to get rid of.

 

[RedLantern]

Well, we are under contract for selling our house. Didn't get quite what we listed at, but still 35K more than I was hoping for at the get go! Moving August 12th! Son's due date is August 13th! Orientation for the new career starts August 19th! Hold on to your butts!

 

[lefty]

^ Congrats.

Had two PTAC units replaced and four serviced yesterday. When the guy asked me where the last one was I said, "masterbath."
"No, really."
"Yes, masterbath."
He couldn't believe his eyes and called in his partner from the truck to marvel at a PTAC unit in a bathroom.
"In all my years, I've never seen one in a bathroom."

When I sell this place I know what the first thing on the spec sheet will be.

Woke up this morning to a leaking wand hose in my kitchen sink. Never heard of one of those failing but if I take off the sprayer head the water flows out easily, however once I put it back on, the pressure seems to be pushing water out the sides of the hose and it's running down and dumping on the floor. Should be an easy fix but for the enormous disposal that takes up all the room under the sink.

Fun times.

lefty

 

[brokencycle]

Just found a baldfaced hornet nest way up on the topmost eave of the house. That's going to be fun to get rid of.

I was stung 10 times by paper wasps after entering my shed where they had made a nest on the inside door. Thankfully I'm not allergic, but I immediately got the can of Raid that sprays like 20 feet and went to town.

Brokencycle circa 2014, colorized

 

[Piobaire]

Hornets like to try and build nests on the two ceiling fire sprinklers in our back patio. That Raid Hotshot thing is awesome.

 

[Van Veen]

Yay! Another problem with my ****** rental! Water damage in the ceiling underneath the master bathroom shower.

As much as I don't want to move, I'm seriously considering breaking the lease and getting TF out.

 

[brokencycle]

A credit union I'm a member of has a 12 year fixed mortgage for 3% interest right now with closing costs of <$1000. It would increase my payment a fair amount seeing I'm at 27.5 years left on my mortgage. I could afford it, and the break even is <1 year. Really tempting.

 

[Piobaire]

FIRE says, "Yes." Wait, what am I saying? Actually, FIRE says to leverage your house the hilt and invest it. I say think hard about flexibility. You can always put extra down every month but keep your monthly nut lower in case of income or expense shocks.

 

[brokencycle]

FIRE says, "Yes." Wait, what am I saying? Actually, FIRE says to leverage your house the hilt and invest it. I say think hard about flexibility. You can always put extra down every month but keep your monthly nut lower in case of income or expense shocks.

But 5/8 of a point makes a big difference.

Related, I don't understand why ARMs are more expensive right now than fixed. Why would I take an ARM at a higher rate when they move rate change risk to me? I guess, in theory, they could come down, but the fed can't lower rates that much more.

 

[Van Veen]

But 5/8 of a point makes a big difference.

Related, I don't understand why ARMs are more expensive right now than fixed. Why would I take an ARM at a higher rate when they move rate change risk to me? I guess, in theory, they could come down, but the fed can't lower rates that much more.

Are the terms the same? The CUs I've been looking at, the max fixed rate is 20 years, but all the ARMs are all 30-year term with the rate changing every 5 years. The best ARM rate (80% LTV) is only slightly more than the best 10-year fixed rate (90% LTV), and much cheaper than 20-year fixed.

Also (I know this is obvious) remember that the amount you're financing decreases over the life of the loan, especially if you are paying extra, so the effects of rate increases later in the loan can be mitigated.