Excellent video again, Julie!
I have a 4 bucket system. One of the 4 buckets is strictly for home maintenance and remodeling.
I don’t touch the principal in that bucket. I use my dividends and distributions to pay for the home.
This year I replaced the roof at a cost of $26,000. Next year will be the HVAC system and the deck.
I have a 2300 square foot house in Washington state so maintenance is needed often.
When I turn 78 years old I’m selling the house and moving into one floor apartment. You need to be honest with yourself as you get older. I won’t be up to gardening, landscaping, and house maintenance.
Planning things out helps to reduce the stress in your life, and it helps with budgeting your money. ❤

Our house is 20 years old and we are the 2nd owners and have lived here 11 years. We have replaced every appliance by now. And just in the last year, we have replaced the water heater, the stove, the refrigerator, the dryer, and we even had new flooring put in throughout.  You are right, homeownership sure ain’t cheap!

When I've rented, I wished I owned (to build equity and have space away from noisy neighbors). When I've owned, I've wished I was renting (so I could just call the maintenance department to fix things).

Hyped! 😊 There's a well-known financial guru who always glosses over the inconvenient fact that paid-for homes do still cost money.  You went in with your eyes open and took the correct route for you, though -- a moderate-sized home that's in a good neighborhood and in good condition to begin with. Smart cookie!

The roof and HVAC costs are the ones people always forget to budget for. Honest breakdown, thanks for sharing real numbers.

We own our home and a rental that my Dad lives in.  He is 89 and we’re trying to decide what we want to do when he no longer lives there.  The rental income would be nice, but it also means double upkeep and renting to a stranger is way different than family.

Great video! I've owned my home for a little over 20 years. Over the years I've replaced most of the items you listed. It's just part of the deal. We have to maintain the property. For first time buyers, I recommend that whatever you're told you can qualify for in a mortgage, take 10% of that and put it into a maintenance fund before you buy the house. Just know that things will break when you least expect it so be prepared. After 20 years the value of my home has doubled and my plan is to use my accumulated home equity to downsize to a less expensive market before I retire. That'll let me be mortgage free and bank some extra cash while I'm winding down my career. Love your channel!

I own a home built in the mid 70's.  During the past 25 years, my roof, back porch and garage door were replaced on the big ticket side.  There is a sense of satisfaction knowing that the landlord cannot evict you on a whim as an owner vs a renter.

I rented up to the end of 2019. My rent was only $475 for a one bedroom apartment. I moved in 2012 even than was paying $475. Yes, that's right they never raise the rent. I believe rent was going to go up to $575 in 2020. I believe they are up to $910 now. Well I found a house to own in the boonies for $40,062 and jump onto it. I paid cash for it. 1984 2 bedroom house with a detach 2 car garage on .65 acres. Everything there works. I have my own water well and septic tank. Love it here been here almost 7 years now. Property tax is less than $400 for the full year. I'm not paying for house insurance. It's very peaceful out here and very cheap to live here. No rent or mortgage can't get better than this.

Yes when owning a house there will be expenses but that is the beauty and security of having a house of your own. I would not trade it for anything. We have owned our 70s ranch style house for 34 years and we have had to replace things of course. Roof, HVAC were our biggest but paid cash for it .  We have to maintain everything in life such as our bodies, cars, relationships, houses we own or rent etc.. thats what you sign up for when you buy a home. Nothing is a free ride. We live below our means and can afford to fix things when we need to.

I’m not thrilled knowing we’re going to need a new roof in the next year or two. We’ve lived in our house x 30 years and have replaced the shingles once before. My retired husband is very handy, but his roofing days are behind him. Have a great weekend!

We built our home 20 yrs ago. House maintenance is ongoing and expensive.

I am so lucky-I learned how to do electrical, plumbing, carpentry, drywalling, painting, chainsawing, etc. long ago. The only things I won't do is A/C involving the refrigerant and roofing. I could not even guess at how many thousands of dollars I have invested because I had that ability to save money. My dad was really smart and we were close, so I was always there with him learning. I also learned patience, kindness and humor from him. In case you can't tell, I think he was pretty great.

I bought my house new in 2001. Never imagined I’d be here 25+ years.

I think to compare apples to apples rent in your area should have been compared. When you just look at home ownership costs it sèems like alot. But when you compare how much rent would have costs in your area plus the equity you have, homeownership can be very beneficial.

I bet you can clean the dishwasher filter YOURSELF and get several more years out of it! I did mine and it's works like a charm again! There is a YT video for EVERYTHING!

I own my home which I purchased in 1998. I'm retiring on Dec 31 and my plan was to sell it and travel the world full time, but Now I'm having 2nd thoughts about selling a paid off house. It's not worth a lot and I have a few costly maint items due, at least I own it and even with ongoing costs averaging about $700 per month, I think I should keep it. I'm retiring early with a modest budget of about $3000 per month and paying rent out of that budget would be a bit too tight. What's funny is that, I could travel very comfortably in Asia on $3000 per month, but it's a tight budget here in OH, even with a paid off house.

Home ownership is worth the price of maintenance to me.  I've known people that love the home they are renting, only to have their landlord sell the home, and out they go.  I think the biggest thing people can do is stay on top of their home repairs.  If there is an issue, even a small one, fix it immediately.  Seems many ignore their smalls issues, letting them stack upon each other, then get overwhelmed there is "so much to do".  I have a friend in this situation right now.  Also, stay on top of your maintenance.  Regularly replace your HVAC filters, regularly check your irrigation system for leaks and proper spray pattern, flush your water heater on schedule, and for those of us that live alone regularly go into that guest bathroom to make sure the toilet isn't in there constantly running.  Find and fix little things before they become big things!  Takes less time a month than watching an episode of a show to stay on top of most things.  If something breaks, don't immediately call a repair "expert".  A little research and a youtube video can save you a ton of money on easy repairs.

Great video!!  😊

Great video! We need to evaluate this and change our budget. After seeing this video, I don’t think we have enough in our monthly budget.