Part one: people who purchase houses, condos, cabins and town homes are genuinely surprised that they have to maintain them. It may be they expect to mop floors and mow the lawn, but. . .
- they are surprised when the water tank leaks
- they are astonished when the furnace doesn't work well
- they express amazement when the doors don't close properly
In short, the effort and cost of maintaining a home hammers them between the eyes. They are so often unprepared.
Part two: I got to wondering if younger home buyers are victims of the elimination of wood shop and home ec courses in public schools. They have grown up without any understanding of fixing faucets, adjusting doors, and paying for craftspeople who can deal with maintenance issues.
In my experience one can expect to spend about the cost of the house again in thirty or so years in order to maintain it well. To handle that, in addition to budgeting for monthly mortgage payments one should be budgeting an adequate amount from the second month of ownership, to be put in an investment or savings account, so that there is money available to keep the building and property in good condition.
I learned about such things from my dad and from wood shop at Peninsula High School. Mr. Miller's Modern Problems class helped as well. But adults who did not have these classes probably wouldn't even know where to look for classes on this kind of foresight and planning. Their mortgage broker won't tell them!
What do you think? Leave a comment and let us know.
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