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12-03-2014 , 10:58 AM
Quote:
Originally Posted by Doug Funnie II
At today's rates if you know that you're going to stay put for ~10 years then most metro locations are probably pretty neutral between cost of renting versus cost of buying. Obviously if you're really in tune with a location and you can luckbox an area that gets gentrified then you can do a little better by buying for that timeline, but it still is pretty minor.

However, you get absolutely ****ed if you buy and hold for only 5 years. For that short a timeline it takes a monumental increase in home prices in your area to even breakeven versus renting because transaction costs are so high. Check out Trulia's rent/buy calculator to see how hard you get reamed if your timeline is short.
Thanks for the link. I'm still doing okay after five years compared to rent in my area (LA) – so hopefully I made the right decision.
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12-03-2014 , 11:39 AM
My tub is leaking a steady trickle out the faucet no matter how hard I crank the knobs to off. Does this sound like a pro plumber job, or something I can potentially tackle myself? I'm medium handy.
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12-03-2014 , 11:52 AM
Quote:
Originally Posted by suzzer99
My tub is leaking a steady trickle out the faucet no matter how hard I crank the knobs to off. Does this sound like a pro plumber job, or something I can potentially tackle myself? I'm medium handy.
If you have a two handle tub (separate hot and cold) it is pretty easy. Usually just need a cheapo seat wrench from Home Depot or wherever.


If medium handy, watch a youtube video on it and you should have zero trouble with it. Also if you have any interest in replacing the knobs this is the time to do it as you have to take them off anyway.
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12-03-2014 , 12:10 PM
Thanks - I'm assuming I need to turn the water off first? I'm in a condo and not sure where that is. This will be my first home improvement project. Exciting!
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12-03-2014 , 12:52 PM
Quote:
Originally Posted by suzzer99
Thanks - I'm assuming I need to turn the water off first? I'm in a condo and not sure where that is. This will be my first home improvement project. Exciting!
Yes, you need to cut the water off before doing anything with plumbing. If there is no access to the water lines for your tub you need to find main shutoff valve for your condo.

Ask your neighbors if they know where their shutoff is as they can be a pain to search for if you have no idea. Sometimes it is really obvious like a valve right where the water enters the unit but sometimes they are just an anonymous valve under the sink or some nonsense.
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12-03-2014 , 12:53 PM
Turn the water off first. If you're lucky, it. COuld jsut be a matter of replacing the cartridge (depending on what type of faucet you have).
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12-03-2014 , 01:10 PM
Always turn the water off and you have to know where the valve is. If a condo then look around wherever your water heater is
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12-03-2014 , 01:41 PM
Quote:
Originally Posted by BuckyK
What do you plan on doing to the kitchen, and how quickly do you want it done?

A contractor can turn around a simple cabinet and counter upgrade in 2-3 days.
Good question on time, actually did not think that far into it but knowing the wife most likely as quickly as possible.

Pretty much a full remodel. New flooring, cabinets, counter. Minus appliances as we already have those installed in our current setup. I guess it would take too long to learn/do some stuff myself so seems like having a contractor do it all would be quickest. We had our bathrooms redone a few years ago by a contractor, and being a perfectionist i find small things all the time that bother me with it which is part of the reason i was asking. Thanks.
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12-03-2014 , 01:49 PM
Gonz-

Thanks for the answers. As mentioned in post above we are going to do a full remodel. Ill see if its worth doing the demo myself based on prices i get from contractors. I figured cabinets would be the only area i might be able to handle myself but have no experience in that area so unsure how long/tedious that process could take. Also thought about ripping up the tile flooring myself but most likely cost of time would make it all not worth it.

Currently have that problem you mention with the drawers/appliance door opening in a u shape design that is here now, but great tip and reminder to avoid.
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12-03-2014 , 07:10 PM
Here in colorado at least habitat for humanity will come to your house and demo your kitchen for free if you let them take the stuff away to resell it at one of their secondhand stores.
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12-03-2014 , 10:39 PM
Quote:
Originally Posted by JN1D
Gonz-

Thanks for the answers. As mentioned in post above we are going to do a full remodel. Ill see if its worth doing the demo myself based on prices i get from contractors. I figured cabinets would be the only area i might be able to handle myself but have no experience in that area so unsure how long/tedious that process could take. Also thought about ripping up the tile flooring myself but most likely cost of time would make it all not worth it.

Currently have that problem you mention with the drawers/appliance door opening in a u shape design that is here now, but great tip and reminder to avoid.
Wrt to demo, a local trash hauling co may be able to do that for you cheaper if a small area. You could clean out your garage, attic and toss any old furniture at the same time too and make it all one job.

If you're doing one room only then get the demo folks or haulers there early in the day. Use the rest for touching up & patching drywall in there & fixing any subfloor issues (leveling etc).

Provided demo is done by ~11am you can usually replace an overhead light fixture, all wall switches and outlets, fix any tape seams and imperfections in the drywall, prep the floor, and prime the entire room same day.

Then you come in the next day with a nice prepped workspace and you'll be all pumped to do the cabinets. Hang the uppers first & measure carefully and level, again I suggest using a 1x1 or similar as a brace.

Another thing to watch out for is the thickness of your floor covering. If something bigger like tile then make sure you don't trap a dishwasher behind it where it can't be removed with the counters in place. Tiles are ass though and I wouldn't screw with - there are really good snap-together lam floors that are cheap as hell, easy and look great. Just my .02
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12-07-2014 , 10:33 AM
The house I mentioned that got renovated has been reduced in price and to commemorate that, I am going to reveal the original asking price.

The flipper bought it for 69k, spent an estimated 5k, and was asking 169k. As a non-flipper and someone who saw the house before and after renovation, that just blows my mind.

Moving on to a different subject. What are people's views on septic systems? Any tips for living in a house with a septic system?

Last edited by Doc T River; 12-07-2014 at 10:41 AM. Reason: Eliminated last question.
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12-07-2014 , 12:01 PM
Whoa, sick reveal!

Seriously though man, you seem amazed by the fact that someone can list a house at any price they want, and someone else can either choose to buy it or not, regardless of how much the house was originally purchased for or how much money was put into it, or not.
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12-07-2014 , 02:27 PM
Quote:
Originally Posted by Clear Quality
Whoa, sick reveal!

Seriously though man, you seem amazed by the fact that someone can list a house at any price they want, and someone else can either choose to buy it or not, regardless of how much the house was originally purchased for or how much money was put into it, or not.
The seller better hope the old saying about suckers is true.
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12-07-2014 , 02:52 PM
Doc - Do you seriously not understand? What a house will sell for has nothing to do with it's cost or the cost of improvements.
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12-07-2014 , 03:11 PM
Quote:
Originally Posted by Didace
Doc - Do you seriously not understand? What a house will sell for has nothing to do with it's cost or the cost of improvements.
At this point, I am fairly certain he is trolling.
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12-07-2014 , 06:02 PM
Quote:
Originally Posted by Didace
Doc - Do you seriously not understand? What a house will sell for has nothing to do with it's cost or the cost of improvements.
My post was a comment on the seller wanting so much for the house. If he really expects to get that much, he needs to find a sucker. It wasn't a comment on what the house will sell for.

Understand?
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12-07-2014 , 06:22 PM
Quote:
Originally Posted by Doc T River
My post was a comment on the seller wanting so much for the house. If he really expects to get that much, he needs to find a sucker. It wasn't a comment on what the house will sell for.

Understand?
So, everyone is a sucker unless they spend what you've deemed an appropriate price?
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12-07-2014 , 06:28 PM
Bank is not going to mortgage a home above its market value so he needs a cash buyer if it is truly overpriced.
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12-07-2014 , 06:29 PM
Quote:
Originally Posted by Doc T River
My post was a comment on the seller wanting so much for the house. If he really expects to get that much, he needs to find a sucker. It wasn't a comment on what the house will sell for.

Understand?
No, I don't understand. What do similar houses go for in the area?
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12-07-2014 , 06:38 PM
Quote:
Originally Posted by Doc T River
My post was a comment on the seller wanting so much for the house. If he really expects to get that much, he needs to find a sucker. It wasn't a comment on what the house will sell for.

Understand?
You're either trolling or this is a serious, serious facepalm. Again, you have to be trolling, at least I sure hope so.
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12-07-2014 , 08:06 PM
Quote:
Originally Posted by rageotones
So, everyone is a sucker unless they spend what you've deemed an appropriate price?
If someone buys THIS house at original ask or the slightly reduced price, yes.

Quote:
Originally Posted by TimRed
Bank is not going to mortgage a home above its market value so he needs a cash buyer if it is truly overpriced.
Hopefully, the seller is willing to accept a more realistic offer.

Quote:
Originally Posted by Didace
No, I don't understand. What do similar houses go for in the area?
Define what you mean by area. In the neighborhood, the houses are newer and nicer. They are worth slightly more than this house.

Quote:
Originally Posted by Rambler1
You're either trolling or this is a serious, serious facepalm. Again, you have to be trolling, at least I sure hope so.
I am just someone who has a different take on things. Do you think everyone should think the same on things? Do you think everyone should have the same general level of understanding on things?

Last edited by Doc T River; 12-07-2014 at 08:26 PM.
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12-07-2014 , 08:21 PM
Quote:
Originally Posted by Doc T River
I am just someone who has a different take on things. Do you think everyone should think the same on things? Do you think everyone should have the same general level of understanding on things?
Obvious troll is obvious. I am finished responding to you regarding this topic.
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12-07-2014 , 08:25 PM
Quote:
Originally Posted by Rambler1
Obvious troll is obvious. I am finished responding to you regarding this topic.
You can choose to believe what you want, but you're wrong.

For those still responding to me, I found some comparables.

The house I think is overpriced is slightly more than 2300 square feet. I found a house of around 2000 square feet for 149k, two of around 1800 square feet for 147k, and one of about 3500 square feet for 250k.

Overall, it would seem I was wrong to liken the house to an econobox on a lot of luxury cars.

Last edited by Doc T River; 12-07-2014 at 08:32 PM.
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12-07-2014 , 08:28 PM
Hey Doc,

I want to buy a Toyota Tundra. I know it cost $25,000 to build. I should buy it for $25,001 right? Cause I'm not a sucker?
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