<< Back to all Blogs
Login or Create your own free blog
Layout:
Home > Lots Going On
 

Lots Going On

June 1st, 2015 at 07:51 am

I realized that I had written an April update, but forgot to post it. The short of April was:

Medical stuff for both of my kids got busy, then quieted down, then got busy again. I am tired of navigating the medical world. Jump through this hoop, to land in a mud pile, now wait until the bus passes, then oh, here's another hoop and wait, your shoe's untied. It feels like Frogger. Fly eating, crocodiles, and all.

I tried Mint.com, but hated it. Absolutely hated it. I didn't like that it dealt with posted date instead of the date I actually spent the money. And categorizing things was cumbersome for me. I have a very different idea of how I budget things. I'm going back to my manual entry into Quicken.

As for my April goals - Didn't stay in budget (ate out more than I should have and spent a LOT on gas), went back up to 4 a day on soda (major fail!), made my weight goal (barely), de-cluttering was so-so.

---

Now onto a not-so-quick for May:

Well.... we're buying a house. A fixer upper, of sorts. Kind of ugly, needs a lot of paint and a new roof within a year. But other than that, it's liveable right now. Eventually the bathroom needs to be redone as the mid-century pink tiles isn't really fashionable, but it functions!

Taking into account the extra utilities we don't currently pay (trash, water), PMI (which would be about $4,000 over the life of it if I don't prepay), house insurance, and escrow - we still will save over $300/month compared to renting. Fixing the roof, paint, and fixing a few odds and ends will give us instant equity (by a lot!).

I'm so excited. SO. EXCITED. CANNOT SIT STILL EXCITED.

In preparation of all these initial costs, we've moved out of the apartment back to the parent's house for about two months. "Broke" our lease for $300 which they are actively re-renting and it is looking like we won't have to pay most of June's rent (crossing fingers that the application goes through)! We are saving already by dropping internet and utilities will decrease/go away shortly. Husband and I are carpooling and curtailing eating out and other expenses. I'm pinching money like crazy to pay for all the initial fixes we will do before moving in.

---

After reading about My English Castle organizing, I'm reading up about Marie Kondo and am half way through her book. It's really interesting. I'm going to make my husband read it, as I think he will dig it even more than me. While I can't do much about my stuff right now as it is all stored in a one car garage, I can deal with my clothes I have out and try out her folding. Ideally, when we move stuff to the new house, I'm going to "does it bring joy" test before bringing anything into the house. There is so much stuff!

Plus, I'll finally be in neighbourhood where we can finally have a garage sale!

---

Oh, I just remembered - I want to document all the money I'm spending on purchasing and fixing up the current house.
Paid New House Expenses:
$ 1,000 Earnest Money (part of down payment)
$ 300 Lease Break
$ 80 Moving boxes and extra gas
$ 325 Inspection Fee
$ 425 Mortgage Application Fee (part of closing costs)
=$ 2,130

Money saved:
$ 26 May internet
$ 43 June internet
$ 47 May utilities (usually around $115/mo)
$ xx June utilities (usually around $115/mo)
$ 25 June pet fee
$ xx June rent (major cross fingers!)
$ 60 May/June gas from carpooling savings
$ 164 Renters insurance refund
=$365 to $1730

Anticipated expenses (approximate numbers):
$ 4,200 Down payment (additional to earnest)
$ 2,900 Closing Costs (additional to mortgage fee)
=$7,100

Potential fixer upper costs
$ 3,000 Roofing materials (simple small single story roof and gutters, work done by selves)
$ 800 Appliances (used stove, fridge, washer and dryer)
$ 500 Doors and locks (exterior doors need to be replaced, not just re-locked)
$ 300 Window AC units (craigslist)
$ 200 Bathroom repairs (grout, tub replacement/fixing, shower head, caulk)
$ 200 Paint (walls, ceilings, trim, cabinets, potentially exterior)
$ 500 Misc other updates, move in expenses
=$5,500

6 Responses to “Lots Going On”

  1. My English Castle Says:

    Great news on the house. I think you'll like the Kondo book; I'm not completely there, but even the parts I did do indeed bring me joy!

  2. snafu Says:

    How exciting to be planning an imminent move into your own home. It makes keeping Quicken up to date even more important. Having likewise bought a 'fixer-upper,' I found it very helpful to keep a 3 ring binder with a couple of packages of page protectors to corral all invoices and receipts for purchases. I used the back section for samples, business cards, magazine & You Tube items.

    I hope you understand that most updates and projects will take double the time projected and cost at least 1/3 more than you imagined. We're currently gobsmacked at the cost of removing and replacing kitchen counters.

  3. scottish girl Says:

    I'm so happy for you! Smile Hope the medical stuff calms down.

  4. FrugalTexan75 Says:

    Congrats on finding a house!

  5. Petunia in a Flower Garden Says:

    I love the Kondo-style folding. Looking in my drawers makes me so happy! (Might be the only organized area of my house, ha ha)

  6. TarWalker Says:

    Thanks!

    Snafu - love your binder idea. I'm going to have to set that up. I'm very aware of how time and budget can spiral (my family has done a lot of home improvement projects). I'm not worried about the time of projects; I can always do things in stages. But budget, I'll be very picky on, hopefully I can keep hubby on same page.

Leave a Reply

(Note: If you were logged in, we could automatically fill in these fields for you.)
*
Will not be published.
   

* Please spell out the number 9.  [ Why? ]

vB Code: You can use these tags: [b] [i] [u] [url] [email]