The Encyclopedia Hydroponica

Your Hydroponics Compendium

Yes, I know, I suck 20 October, 2008

Filed under: Blog — E.H. @ 8:48 pm
Tags: , ,

I haven’t updated in forever, but believe me I haven’t given this up.

Things have just been rapid-fire crazy around here.  My wife and I were informed just before our trip to visit her family that we were being forced to move as rapidly as possible.  That’s from a huge mess that doesn’t belong on the Internet, but effectively we’ve had very little time for anything.

The move starts (well, the actual transporting of stuff) on Friday.  So on both ends of that is all the packing (which I’m currently hip-deep in, literally) and then unpacking.  And, since this whole thing was essentially un-planned, the place we’re moving to has essentially none of the things we were looking for in a place except for the requisite “not living with unstable people”.

So there’ll be no dream garden next year, and no home ownership.  Despite all the lending issues at the moment my wife and I were poised to come out of this whole economic thing very nicely positioned.  We’ll still do better than most, but it’s not looking good for buying a house now.  Lesson learned: very carefully monitor how much control you give to other people and who you give it to.  Even family.

So back to the point, I’ll be back here with my usual regularity before much longer.  I’ve just got to survive this move and re-establish things on the other end.  Once sanity, such that it is, has returned I will catch up here.

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5 Responses to “Yes, I know, I suck”

  1. Dan Says:

    Owning a home really does not pay in the long run. Sure it is nice to have but when the numbers are crunched its just a big whole you dump money into, that is unless you have 50% or more down.

    Live cheap, save cash and then laugh at the neighbors when you are retired and they are still paying a mortgage in there 70’s.

  2. E.H. Says:

    Well my wife and I are planning to find a rather inexpensive house, ideally something in need of a fair bit of work so that the cost in money is small and the work makes up for it. I don’t mind working hard, I actually enjoy fixing things up.

    The idea is that with a place of our own we have the freedom to do things like build massive yard-encompassing gardens, put in a green house, and so on. Even if you can find a landlord that will allow that kind of thing, if you don’t own the property you’ll have to leave it behind eventually.

    Also, since we don’t have to plan for children, we have no burden to leave anything behind beyond enough to take care of our expenses. So we were looking at the house as a retirement plan as well. A reverse mortgage would give us a nice supplement to our other plans.

    Does that make sense or am I overlooking something you can see?

  3. Dan Says:

    I am currently in a handyman special. We bought about 50,000 below current prices, about 15,000 below value at purchase time 5 years ago. Being in Canada we have had a small drop in prices but nothing like in the States. It is still very expensive to fix it yourself, I figured about 50% of the cost of having it done for you. So considerable savings but still going to cost many thousands to fix the whole place.

    The best way in my opinion to own with little risk is to be a landlord. Buy an income properly which in most cases are fixer uppers, fix up one unit to live in and rent the other(s). The rental income will cover most costs and once the place is paid for the income can then be used to supplement retirement income. The only thing to consider is in most cases income properties need more of a down payment then a typical residence.

    One thing that is on your side residing in the States is you receive a tax credit for your interest charges. You can also do pre-payments on your mortgage every month, even $50 extra a month with greatly reduce the amortization and interest costs.

  4. E.H. Says:

    That’s good advice. We’d been planning to “overpay” as much as possible since, being a bit of a math/science geek, I’ve computed the difference myself. It’s not hard to end up paying for a house three times over if you pay just the payment over 30 years. The first decade or so you’re barely denting the principle – most of what you’re paying is just interest.

    We don’t own credit cards at all for the same basic reason.

    I’m actually lucky enough to live somewhere that hasn’t been hit that hard by the real-estate drop because the cost of living is already really low. Our local economy goes up and down to the march of a different drum than most.

    But I’m pretty patient, I actively seek out delayed gratification in most things. If we get a house that’s nice but needs work and it takes me 5 or 10 years to get it all done then the way I see it I’ve got a 5 or 10 year hobby to keep myself busy. And at the end we’ll have a house that I (or we) have put enough work into that it is more “ours” than it would seem otherwise and it would represent a real sense of accomplishment and pride.

  5. Red Icculus Says:

    I just bought a house. The previous owners “upgraded” the tub faucet, which ended up leaking through the kitchen ceiling. After fisticuffs with the insurance company, things are back to normal. Hope your life settles down too!

    Red


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