Over the past 3 years I have chronicled some of the fun stuff we have had with home ownership. Generally, I think owning a house can be a good idea. People who want to build wealth often own some kind of home. However, that doesn’t necessarily mean that home ownership is a cheaper option, particularly if you have a lot of home repairs. Over the past three years, we have had to do, what seems to be too many repairs in this house for the time period we have been in it. Here is a run down of what we have done and spent:
- New toilet and installation $300
- New Dryer $400
- New Insulation $3000
- New Dishwasher/Electrical work–$1500
- New Microwave/Convection Over–$450
- New Refrigerator $1000
- Mold Remediation (basement because of the refrigerator water leak) $600
- New Electrical Panel $2500
That is about $10,000 that we have cash flowed. This also doesn’t count the furniture and other things bought for the house.
Now we have another problem. Another water leak, but this one is a DOOZY!
Before that I had a spin out on the freeway that caused me to go in the ditch and exacerbated a problem with my exhaust system, which cost me $1000. I certainly could use that money right now.
So about a week or so ago we noticed that a white powdery substance was on a side wall in our downstairs bathroom. We contacted Mrs. ROB’s cousin who is a contractor and he said it was mold (it definitely was). My biggest concern at the time was that the toilet was maybe leaking and our subfloor in our downstairs basement was destroyed, which would cost us a few thousand dollars.
We had a couple plumbers come out to check out the bathroom and today one of the plumbers cut a hole in the drywall in the bathroom.
Good news: The subfloor was fine.
Bad News: There is a water leak, but it isn’t from the downstairs bathroom. Apparently, it is coming from the upstairs bathroom. Our house has cast iron piping that I guess is what is called stacked piping. All the bathrooms are connected.
Apparently, there is some kind of lead in the pipe coming down the wall from the upstairs bathroom. So when we flushed the toilet, ran the water in the shower and even the vanity you could see water dripping down the walls.
When the plumbers opened up the wall I could smell the mold. This leak has apparently been going for a while. The insulation is soaked. You can tell it is wet and moldy and Mrs. ROB is allergic to mold. In other words, we have a MAJOR problem!
So I started a claim with our home owners insurance and also made an appointment for a mold remediation company to come out tomorrow morning. We have to get this problem taken care of ASAP! So they will probably start the remediation immediately, cut out the dry wall, kill the mold, then we have to repipe the leak (replacing some of the cast iron with PVC), and then redo the drywall.
The mold remediation and the drywall replacement should be covered by our insurance.
However, I found out we have a $2500 deductible on our home owners insurance AND I don’t know how much a repiping will cost when the plumbers come back. It could be anywhere from $1200 to a lot more. So at minimum we are looking at a bill of about $4000 at minimum and it could be more! Fun stuff.
I really want to put our house on the market and move to something brand new.
Until then we will do the repairs, shower at the gym, use the downstairs bathroom, and hope to get through this mess quickly The joys of home ownership.
Anybody want to buy a house?