What They Don’t Tell You When You Buy a House

We’ve been moved into our new home for about one month now. I’m sorry I haven’t done well at keeping you up to date on how things have been going here, but you can tell from the lack of updating that it has been busy. I’ve discussed our decision to buy on the blog a bit, but I’ll probably try and articulate it more in future posts. For now, I wanted to start informing my non-homeowner friends of somethings I wasn’t prepared for. This might turn into a series, but for now I just have one important tidbit to share. It has to do with justification.

Those who know me well, or have read my blog regularly, know that I’m fairly frugal when it comes to making purchasing decisions. If the item can wait to be purchased it waits. If I can buy it at a thrift store, we shop till we find it. If it’s not a need then you just have to save you fun money for it. All in all, I don’t like going out and spending money too much. The month of December was all about spending money. I won’t give you a total dollar amount but let’s just say we spent more in the last month then we normally budget for an entire year (that’s not a joke). Most of what we spent money on were home repair items: working appliances, furnace, water heater, service visits, roofing, replace windows, plumbing work, working kitchen faucet, etc. The cost wasn’t a surprise, and though there where some things we could possibly live without (water heater?), generally speaking they were all ‘needs’ for a basic USA standard of living. What I wasn’t prepared for though, was the draw and temptation as I was regularly whipping on my checkbook, frequently shopping at Home Depot and generally thinking about home improvement.

I found myself looking around the house and thinking about what need to be fixed, repaired or ‘improved upon.’ Not that any of these things are bad, but they just fit into different categories. Having a working kitchen sink is one thing. Installing a waterline for your automatic ice maker is different. We’ll probably install the waterline at some point, but how I budget for it will be different since it is not a ‘need.’

Walking around Home Depot, I found my self ‘shopping’ more and more. I wasn’t just going in with a list of the things I needed, I was walking the aisles, looking at prices, thinking about how certain ‘improvements’ would look in our home. Again, I’m not saying this is bad, just that you need to be aware and careful about it. We installed an electric thermostat, I feel like it was a good decision. Our doorbell chime is missing it’s cover, it’s just a black box with wires on the wall of our living area, but I don’t think it’s essential that it gets covered up. The ceiling fan in my daughter’s room is kind of ugly, but it’s not necessary that I change it. I might get a new ceiling fan, but I’ll budget for that differently then I will for a working refrigerator.

Just like most people, I want ‘nice’ stuff. The commercials and media have an affect on me too, and though most of the time I combat it, the desire is still there. What I find happening over the last month is a wide range of justifications seeping into my thinking. First, I would justify the thought of buying something as a ‘need’ because it was a part of fixing up my house. I’d try and convince myself that it was to ‘add equity.’ Or, I’d justify it by considering that we don’t plan on moving for years to come so a nice good quality item is worth it and justified. I’ve been coming up with all kinds of justifications when the real motivation underlying it all is that I simply wanted this item or that.

The point is not to say that any of these items or home improvements are bad, simply that we must be clear about whether they are ‘needs’ or ‘wants.’ And we must be careful about what our motives are, never deceiving ourselves into justifying selfish decisions in the name of something else.

8 thoughts on “What They Don’t Tell You When You Buy a House”

  1. Hi, I absolutely agree with you. The worst thing that can happen to you is when some of your house appliances will break down and unfortunatelly just before Christmas. One of my friends had some problems with boiler and it broke down two weeks before Christmas, and then he had problems to find serviceman and moreover to pay some(not small money) for repairing. Well, I suggest to see for everybody to check this Toronto real estate buyers’ guide or similar websites for some advices and avoid additional costs after buying house. Good luck!

  2. Congratulations on your home!

    We’ve had more fun fixing up our homes with yard sale finds and recycled light fixtures than we ever have in a Saturday morning trip to HD.

    Once you get past the immediate basics, you’ll enjoy the process of finding just-the-right-thing at just-the-right-price again.

    I agree, the volume of new products is so tempting and…easy.

  3. We’ve been in our home for six months.

    First, painting every room. Second, carpet all over and some linoleum where needed. Home inspector failed to mention the lack of insulation in the attic, so insulation came next. The outside trim had to be painted. Light fixtures are hideous but get replaced here and there, IKEA is handy for that. We just had the electrical service upgraded to 200 amp service and put in a new central unit. Replacing all the windows is the next project. Isn’t it fun!!

  4. thanks for your honesty on this. it says a lot that the fines are tempted to buy, buy, buy!
    we talked briefly about your post at small group last night. joneric brought up the point that you aren’t truly adding equity when you add new things to your home b/c the new carpet, etc. that you install won’t be new when it comes time to sell your house. it was a good point i hadn’t thought of before. i realize some improvements are helpful, but some aren’t. thanks for being honest about this. i value your transparency.

  5. Adding equity all depends upon the initial price of the house.

    If you’re changing carpet colors and faucet styles just for design sake, then, no, you aren’t necessarily adding equity to a home…just making it easier to resell.

    If you bought the house at a rock-bottom price that reflected its lack of roofing, water heater and flooring, then adding those things to the “shell of the house” does indeed add equity. The house is worth more in a liveable state than in its former state.

    I’m guessing that the Fines bought something like the latter. We’d love the details, though!

  6. Hey, everyone, hoping some of you are still email subscribed to the comments here.

    We are still happy with the house, though it’s been interesting in the last several months, with the economy and everything else, to continue to reflect on purchasing decisions.

    for Meredith a brief details list of the house: it’s a semi fixer upper but we got most of the stuff (appliances, etc) out of the way, and now we are just enjoying it. It’s a duplex so with some good folks renting downstairs it helps with the mortgage a lot. And we are loving our community.

    But, it’s still extremely hard and not exciting to have an ever growing list of “To Do’s” to get down around the house. I tend to just avoid them. for better or worse.

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