Home improvement & recent purchases that improved your life

[RXDOC1986]

Splurging, and buying an expensive house is definitely not foolish.
Based on personal experience, you don't really lose any money on a house, if you buy smart. In fact it's one of the best investments you can make. Most private homes appreciate over the years, and you can't really live inside your Amazon or Google stocks, no matter how good they performed!
Our first home was $80K in 1988, fast forward 3 homes and 36 years later, our current home is about $1.4 million, 6 bedrooms, 8 bathrooms, 6850sqft. It was purchased in 2007 for $750K (a foreclosure, we put in another $100K into it)
We poured all the profit on the other home sales into the next home, now we have no mortgage after completing a 15yr loan. Maybe a bit much for 3, but it makes my wife happy, and it's a better investment than most stocks.
HOME IMPROVEMENT -
House was built in 2001 by a custom home builder. Fast forward 22 years, everything needs updating or replacing or fixing.
Paint inside X1 , outside X2 -done.
New roof - done, thanks to possible "hail" damage, insurance paid $24K.
3 new A/C units, variable speed 19 seer 4 ton, -done.
2 new 50 gallon water heaters- done.
salt water pool conversion plus new pumps, plus new heater - done
updating 8 bathrooms- pending
Update kitchen - pending (just the built-in refrigerator/freezer is $10K) and it's acting up
Redoing all hardwood floors - pending
New paint inside - pending
I have a $200K HELOC, all on a credit card - so tempted to go out and buy a McLaren 570S. If I can get a good trade in on my Kia Optima!!!
So, back to grim reality, investing another $200K into the home, enjoying the home until daughter goes to college , then selling it for an easy
$1.4-$1.5 million in 3-4 years, NOT foolish, or bad investment.

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[mentos]

Splurging, and buying an expensive house is definitely not foolish.
Based on personal experience, you don't really lose any money on a house, if you buy smart. In fact it's one of the best investments you can make. Most private homes appreciate over the years, and you can't really live inside your Amazon or Google stocks, no matter how good they performed!
Our first home was $80K in 1988, fast forward 3 homes and 36 years later, our current home is about $1.4 million, 6 bedrooms, 8 bathrooms, 6850sqft. It was purchased in 2007 for $750K (a foreclosure, we put in another $100K into it)
We poured all the profit on the other home sales into the next home, now we have no mortgage after completing a 15yr loan. Maybe a bit much for 3, but it makes my wife happy, and it's a better investment than most stocks.
HOME IMPROVEMENT -
House was built in 2001 by a custom home builder. Fast forward 22 years, everything needs updating or replacing or fixing.
Paint inside X1 , outside X2 -done.
New roof - done, thanks to possible "hail" damage, insurance paid $24K.
3 new A/C units, variable speed 19 seer 4 ton, -done.
2 new 50 gallon water heaters- done.
salt water pool conversion plus new pumps, plus new heater - done
updating 8 bathrooms- pending
Update kitchen - pending (just the built-in refrigerator/freezer is $10K) and it's acting up
Redoing all hardwood floors - pending
New paint inside - pending
I have a $200K HELOC, all on a credit card - so tempted to go out and buy a McLaren 570S. If I can get a good trade in on my Kia Optima!!!
So, back to grim reality, investing another $200K into the home, enjoying the home until daughter goes to college , then selling it for an easy
$1.4-$1.5 million in 3-4 years, NOT foolish, or bad investment.

My god that's a giant house! I'd get lost in there. Do you hire cleaners every couple weeks or month?

LMAO trading in a Kia Optima for a McLaren!

I didn't know you can have a HELOC on a credit card.

 

[RXDOC1986]

My god that's a giant house! I'd get lost in there. Do you hire cleaners every couple weeks or month?

LMAO trading in a Kia Optima for a McLaren!

I didn't know you can have a HELOC on a credit card.

We have a couple of ladies that come every 3 weeks, there isn't really any more area to clean than a 3BR townhouse, we don't use every bathroom and every bedroom, just for giggles. Most used is kitchen and a few bedrooms and two bathrooms. The basement is finished with 1 BR and 2BA, a bar, media room, poker table, pool table, foosball table. My man cave, It gets used 1 night a month for poker, I clean it myself.
As far as great Home Improvement Tips: HELOC!!!!!
Yes found a lender with Zero closing costs, Zero Fees, the attorney comes to the house, you sign for 10 min. It's done. They send you some checks, and a regular looking VISA credit card, with $200K limit. Better Than a AMEX Black Card. It helps if you have a credit score of 849. It's Fifth Third Bank, out of Cleveland, OH. They also offer a regular savings account with 4.75% interest rate. I am extremely happy with them.

 

[mentos]

We have a couple of ladies that come every 3 weeks, there isn't really any more area to clean than a 3BR townhouse, we don't use every bathroom and every bedroom, just for giggles. Most used is kitchen and a few bedrooms and two bathrooms. The basement is finished with 1 BR and 2BA, a bar, media room, poker table, pool table, foosball table. My man cave, It gets used 1 night a month for poker, I clean it myself.
As far as great Home Improvement Tips: HELOC!!!!!
Yes found a lender with Zero closing costs, Zero Fees, the attorney comes to the house, you sign for 10 min. It's done. They send you some checks, and a regular looking VISA credit card, with $200K limit. Better Than a AMEX Black Card. It helps if you have a credit score of 849. It's Third Fifth Bank, out of Cleveland, OH. They also offer a regular savings account with 4.75% interest rate. I am extremely happy with them.

Kinda wish I got a HELOC when rates were under 3%. I'm not doing it with 7% rates now.

 

[sunnyandseventytwo]

Kinda wish I got a HELOC when rates were under 3%. I'm not doing it with 7% rates now.

HELOC rates typically aren't fixed so it doesn't really when you take one out. IMO, it's a pretty poor way to borrow money (particularly with tax law changes in 2018) in that when you lose your job and can't pay it back you lose your house. I'd much rather have a car loan and a refrigerator loan and a solar panel loan. I don't have any of those loans, either, but if you forced me to borrow money, that's how I'd do it.

 

[mentos]

I didn't know there were refrigerator loans.

 

[RXDOC1986]

HELOC rates typically aren't fixed so it doesn't really when you take one out. IMO, it's a pretty poor way to borrow money (particularly with tax law changes in 2018) in that when you lose your job and can't pay it back you lose your house. I'd much rather have a car loan and a refrigerator loan and a solar panel loan. I don't have any of those loans, either, but if you forced me to borrow money, that's how I'd do it.

Very legitimate concerns. I am definitely not financially savvy, not remotely. But isn't all the consumer loans you list, run the danger of repossession, bankruptcy, judgments, etc, if you don't pay? Maybe financial ruin? Don't most credit cards you put that refrigerator "loan" on carry interest rates of 9-36% (yes, 36%)
Yes, HELOC is not for everyone. And the rates are variable, It's Prime + 1%, it can just as easily adjust up or down. I got 5.5%, 6 months ago, now it's maybe 6-6.5%. I have not used any of it, might not, ever. Even if I do, it's a fraction of the home's value, not going to lose a $1.4 million house, over $100K. I have over $1 million in 401K that I could access, to "save" my home from auction on the courthouse steps.
Again, all good points, doesn't apply to me. It's just an option out there, to tap into equity, locked up in your basement.
This thread is all about Home Improvement.

 

[mentos]

Very legitimate concerns. I am definitely not financially savvy, not remotely. But isn't all the consumer loans you list, run the danger of repossession, bankruptcy, judgments, etc, if you don't pay? Maybe financial ruin? Don't most credit cards you put that refrigerator "loan" on carry interest rates of 9-36% (yes, 36%)
Yes, HELOC is not for everyone. And the rates are variable, It's Prime + 1%, it can just as easily adjust up or down. I got 5.5%, 6 months ago, now it's maybe 6-6.5%. I have not used any of it, might not, ever. Even if I do, it's a fraction of the home's value, not going to lose a $1.4 million house, over $100K. I have over $1 million in 401K that I could access, to "save" my home from auction on the courthouse steps.
Again, all good points, doesn't apply to me. It's just an option out there, to tap into equity, locked up in your basement.
This thread is all about Home Improvement.

It's better to have a car repossessed than your house.

 

[RXDOC1986]

It's better to have a car repossessed than your house.

Again, we could just keep on going, it's better having your home repossessed, than being hit by a bus! "better than" hypotheticals can just pile up. All I said, was that this is one alternative financial source FOR home improvement. It's not recommended for the financially challenged, credit score challenged or irresponsible individuals.
Caution: You may lose your house!

 

[owlegrad]

Another issue with a HELOC line of credit is the bank can revoke it at any time, so if you are counting on being able to access it you might be setting yourself up for failure.

They probably have a time and place for use but personally I haven’t used them and doubt I ever will.

 

[GrandTheftAutumn]

The basement is finished with 1 BR and 2BA, a bar, media room, poker table, pool table, foosball table.

Pharmacy Doom n' Gloom party at @RXDOC1986's mcmansion, who's down

 

[RXDOC1986]

Pharmacy Doom n' Gloom party at @RXDOC1986's mcmansion, who's down

Yes, the sky is falling, the sky is falling - per chicken little R.Ph.

 

[RxPreceptor]

Whew lowest monthly energy bill so far…~$85. I’m running lean, pretty good in warmer months, might have to splurge with AC come July-August when sleeping at least. Not much to improve for spring/summer months other than to go over a few window and door seals.

Mapped out, planned, and in the budgeting stage for pre fall, winter basement and attic reseal and insulation project.

 

[RXDOC1986]

Whew lowest monthly energy bill so far…~$85. I’m running lean, pretty good in warmer months, might have to splurge with AC come July-August when sleeping at least. Not much to improve for spring/summer months other than to go over a few window and door seals.

Mapped out, planned, and in the budgeting stage for pre fall, winter basement and attic reseal and insulation project.

Home Improvement: -speaking of energy bill!
One of the best home improvement decisions I made was upgrading our HVAC systems. Replaced three 20 yo 10 seer units with 4 ton, variable speed 19 seer units plus 2 stage furnaces. This was in the A/C "offseason" in February! This is while all three units were still functioning (barely). Got an incredible deal! Now, I look like a genius, in front of spouse, while in Hotlanta, temps are low 90's already. Energy usage is almost half of the old units. The old units had to run almost constantly to cool down the whole house. Added 3 Nest Thermostats, WiFi enabled, that can almost predict your daily schedule and actually sense you coming in and out of the rooms.
Winters, no big deal, but will upgrade the attic insulation, next.

 

[gwarm01]

Want to know how $4 can drastically improve your life? It's called nano-tape. Washable, reusable tape that sticks to things using van der Waals forces instead of traditional adhesive. I've been using it to stick things in place all over the house and yard. Wireless thermostat? Stuck to my office wall. New power block? Firmly attached to the dresser. Little metal name plates for my dragon statues outside? Stuck to the concrete blocks and holding strong. Nano-tape, son.

 

[mentos]

Want to know how $4 can drastically improve your life? It's called nano-tape. Washable, reusable tape that sticks to things using van der Waals forces instead of traditional adhesive. I've been using it to stick things in place all over the house and yard. Wireless thermostat? Stuck to my office wall. New power block? Firmly attached to the dresser. Little metal name plates for my dragon statues outside? Stuck to the concrete blocks and holding strong. Nano-tape, son.

Must see photos of dragon statues.

 

[sunnyandseventytwo]

Must see photos of dragon statues.

Must know what you named your dragons.

 

[pezdispenser]

The stock market is back up and I've been doing some OT, so I've been spending some money on a few improvements for energy efficiency.

- Got 2 of these 8,000 BTU U-shaped window ACs:

https://www.amazon.com/Midea-Inverter-Conditioner-Flexibility-Installation/dp/B08677DCKN/

They are very quiet and only use 100-400 W. I don't even have to use my 4 ton central AC anymore which used about 3 kW. My electric usage for May was down 30% YoY.

- Window tint:

https://www.amazon.com/gp/product/B000KKM8EG/

Halfway through tinting a South facing window, I checked the temperature of the carpet where the sun was shining on. The untinted section was 95F, and the tinted section was 85F, so it definitely made a difference.

- Did some electrical work like putting in a new light fixture box above my staircase:

Commercial Electric 4 in. Round 1-1/2 in. Deep 15.3 cu. in. Metallic Ceiling Fan/Light Fixture Box and Brace Kit for New Work CMB150-NB - The Home Depot

This 15.3 cu. in. new construction ceiling fan brace with a 1-1/2 in. box allows you to safely install your ceiling fan or lighting fixture. Ideal for installation during new construction or in locations

www.homedepot.com

To hang this Ikea shapeshifting light:

RAMSELE Pendant lamp, flower, white, 17" - IKEA

RAMSELE Pendant lamp, flower, white, 17". RAMSELE pendant lamp is based on a geometric shape with sheets of textiles or felt. You can dim it by pulling the strings – while changing the shape of the lamp in an exciting way.

www.ikea.com

- Also added some outlets in my garage with 3/4" EMT conduit so that it can easily be replaced with wires for a 240 V EV charger in the future.

- I ordered a Siemens FSPD140 whole house surge protection device:

https://www.amazon.com/gp/product/B0BN6N3CZN/

 

[RxPreceptor]

The stock market is back up and I've been doing some OT, so I've been spending some money on a few improvements for energy efficiency.

- Got 2 of these 8,000 BTU U-shaped window ACs:

https://www.amazon.com/Midea-Inverter-Conditioner-Flexibility-Installation/dp/B08677DCKN/

They are very quiet and only use 100-400 W. I don't even have to use my 4 ton central AC anymore which used about 3 kW. My electric usage for May was down 30% YoY.

- Window tint:

https://www.amazon.com/gp/product/B000KKM8EG/

Halfway through tinting a South facing window, I checked the temperature of the carpet where the sun was shining on. The untinted section was 95F, and the tinted section was 85F, so it definitely made a difference.

- Did some electrical work like putting in a new light fixture box above my staircase:

Commercial Electric 4 in. Round 1-1/2 in. Deep 15.3 cu. in. Metallic Ceiling Fan/Light Fixture Box and Brace Kit for New Work CMB150-NB - The Home Depot

This 15.3 cu. in. new construction ceiling fan brace with a 1-1/2 in. box allows you to safely install your ceiling fan or lighting fixture. Ideal for installation during new construction or in locations

www.homedepot.com

To hang this Ikea shapeshifting light:

RAMSELE Pendant lamp, flower, white, 17" - IKEA

RAMSELE Pendant lamp, flower, white, 17". RAMSELE pendant lamp is based on a geometric shape with sheets of textiles or felt. You can dim it by pulling the strings – while changing the shape of the lamp in an exciting way.

www.ikea.com

- Also added some outlets in my garage with 3/4" EMT conduit so that it can easily be replaced with wires for a 240 V EV charger in the future.

- I ordered a Siemens FSPD140 whole house surge protection device:

https://www.amazon.com/gp/product/B0BN6N3CZN/

Amazon product

Based on design, I was torn between the Midea and Soleus…went with the Soleus. Pretty amazing, only design flaw with the Soleus has been the drain reservoir (just not big enough, can be prone to leaking if not monitoring…I’ve got a Home Depot bucket situated underneath…no problems)

 

[mentos]

The stock market is back up and I've been doing some OT, so I've been spending some money on a few improvements for energy efficiency.

- Got 2 of these 8,000 BTU U-shaped window ACs:

https://www.amazon.com/Midea-Inverter-Conditioner-Flexibility-Installation/dp/B08677DCKN/

They are very quiet and only use 100-400 W. I don't even have to use my 4 ton central AC anymore which used about 3 kW. My electric usage for May was down 30% YoY.

- Window tint:

https://www.amazon.com/gp/product/B000KKM8EG/

Halfway through tinting a South facing window, I checked the temperature of the carpet where the sun was shining on. The untinted section was 95F, and the tinted section was 85F, so it definitely made a difference.

- Did some electrical work like putting in a new light fixture box above my staircase:

Commercial Electric 4 in. Round 1-1/2 in. Deep 15.3 cu. in. Metallic Ceiling Fan/Light Fixture Box and Brace Kit for New Work CMB150-NB - The Home Depot

This 15.3 cu. in. new construction ceiling fan brace with a 1-1/2 in. box allows you to safely install your ceiling fan or lighting fixture. Ideal for installation during new construction or in locations

www.homedepot.com

To hang this Ikea shapeshifting light:

RAMSELE Pendant lamp, flower, white, 17" - IKEA

RAMSELE Pendant lamp, flower, white, 17". RAMSELE pendant lamp is based on a geometric shape with sheets of textiles or felt. You can dim it by pulling the strings – while changing the shape of the lamp in an exciting way.

www.ikea.com

- Also added some outlets in my garage with 3/4" EMT conduit so that it can easily be replaced with wires for a 240 V EV charger in the future.

- I ordered a Siemens FSPD140 whole house surge protection device:

https://www.amazon.com/gp/product/B0BN6N3CZN/

Are these heavy? I use "portable" ones that roll on the ground with intake/outtake hoses. Way easier to install than the traditional window units.

 

[pezdispenser]

Are these heavy? I use "portable" ones that roll on the ground with intake/outtake hoses. Way easier to install than the traditional window units.

I have a portable as well actually, and it's 77 lb vs 55 lb for the U-shaped window AC. Yes, the window AC is harder to install, but it's much more efficient because the compressor, condenser and condensate run outside, and the window seal is better to block heat, humidity and noise.

 

[gwarm01]

Must see photos of dragon statues.

Must know what you named your dragons.

Apparently they're Chinese lions and not dragons, but I still think they're cool. Came up with the names by misremembering the NY Public Library lion statues, Patience and Fortitude.