Reply to How much did your new home cost you in repairs and upgrades

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[quote=Anonymous][quote=Anonymous]OMG these are NIGHTMARE stories! Why buy a house?[/quote]

Yes, some of these are crazy, but it's par for the course when you buy a house. It's the non-sexy stuff that no one talks about when buying, and no one tells you just how much repairs ACTUALLY cost, especially if you hire it out. I like to say things in your house are in 3 states: hasn't broken yet, about to break, or broken.

A lot of things people listed don't HAVE to be done the first year anyway. We bought a fixer in the closest and safest neighborhood we could afford. It's now worth nearly $200K more than we paid. We do one elective project a year, and keep savings on hand for emergency repairs.

In the first year, we spent $7K on our badly neglected chimney (we had a lot of flues), and $17K on roof, insulation, and gutters. We were told by the inspector we had "4-5 years" left on the roof (turns out we didn't, it was actively leaking), the insulation was in horrible shape, and even with gutter guards, animals, were still nesting in them. 
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