Rukh O'Rorke
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Post by Rukh O'Rorke on Nov 7, 2022 16:48:32 GMT -5
can you link something similar? If I google peach orange brick house, they all look pretty nice! This looks like mine. When I pulled up today I thought it looked much more neutral and pretty ok. But then I walked up to it and the orange hit me. pin.it/1EyZA25thanks, I think it looks fine, but there are many brick colors I would prefer, so I get you!
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haapai
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Post by haapai on Nov 7, 2022 17:30:53 GMT -5
I don't know how 401(k) loans work. I don't even know the interest rate that they carry or what it is based on. From what I can remember, it was 5% for an awful lot of people for an awful long time, but it may have changed dramatically since the last time anyone mentioned one to me.
I don't know the maximum term of a 401(k) loan either. Five years was bandied around a lot as the maximum term, but I have no idea why.
Given the pictures that you have fearlessly shared with us, may I suggest an different approach to the siding problem? Maybe this is a problem that you should get a price on before trying to figure out the financing. I usually hate, hate, hate doing things in this order, but sometimes getting an idea of the scale of the borrowing that you will have to do can be helpful. Paying off these repairs may take far longer than you are thinking right now. This might be one of those cases where it might be wise to opt for the more costly and more flexible financing than the hard heavy slog that torpedoes your sweet tax strategy for multiple years.
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Pink Cashmere
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Post by Pink Cashmere on Nov 7, 2022 17:41:09 GMT -5
I'm thinking water just overflowed the gutter occasionally and it started eating away at the siding over the years. With this crap once water gets in there it just dissolves. Apparently you're supposed to re-caulk with masonite every 6 months! WTH does that?? If your gutters are overflowing it also could be because the gutters/downspouts are too small to handle the amount of water they get. I'm thinking Pink had her gutters or downspouts redone due to water issues. Yes, we had Leaf Filter or somebody install screens or whatever over the gutters. We knew the gutters needed attention because water was spilling over the side of the gutters on the deck, in a corner between the chimney and a wall, where an outdoor speaker was installed. Even when Mister cleaned the gutters of debris, water still spilled over. During the filter installation, they were supposed to correct any issues with the gutters, but the guy doing the installation told me the gutters on the front of the house were holding water and the ones over the deck were still overflowing over the front of the gutters. He told me we needed more downspouts on the front and back of the house and showed me pictures his workers took from the roof of my house, where water was sitting in the gutters. He graciously offered to install more downspouts for me for about $800 and in the interest of being helpful, told me that if I contacted Leaf Filter for them to have someone do it, it would cost a LOT more, so,I would save a lot of money by letting him install them. I told him I had to talk to Mister about it, but what I really did was call Leaf Filter for them to send someone out to see what was really going on, because I figured their awesome warranty required that everything be working upon installation of their product, and it was not. I’ve always said this house seems to have been built with a lot of attention to detail, and some things were done beyond even current codes and common practices, so it was hard for me to believe that no attention was paid to properly placing downspouts when the house was built. Most of the downspouts end underground somewhere (what they call French drains? Idk for sure) and the 2 or 3 that don’t, are perfectly encased in the bricks that surround our flower beds, so they aren’t very noticeable. The second guy that came out said that even though we do have a long run on part of the front of the house, it shouldn’t be a problem, and that our downspouts were a little bigger than usual, and could handle large volumes of water. He pointed out something about the difference between our gutters and downspouts compared to our next door neighbors house, and how our set up was better, but I don’t remember what his point was. He adjusted the pitch along the front of the house and around the back where the deck is, and added one of those taller corner brackets in the corner where the chimney is on the deck, where water was spilling over on top of the outdoor speaker. We already had those corner things in a couple of other corners. We have had absolutely no problems since. Everything flows and drains like it should. The second guy seemed so honest and helpful, that I saved his contact info in case I ever need him at the other house.
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Pink Cashmere
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Post by Pink Cashmere on Nov 7, 2022 17:50:33 GMT -5
This looks like mine. When I pulled up today I thought it looked much more neutral and pretty ok. But then I walked up to it and the orange hit me. pin.it/1EyZA25thanks, I think it looks fine, but there are many brick colors I would prefer, so I get you! I really prefer the color of the bricks at my other house over the color of the bricks here. Over there, the bricks are a reddish/orangish brown. A pretty common color for brick houses. Here, the bricks are just a tan color. I like other things about the house enough that I was/am willing to suck it up about the color of the bricks lol. Looking closely, they have black and white specks in them, but they are just a medium to light brown overall. No hints of orange or red, like many (most?) bricks have. Now that I think about it because I am writing about it, I don’t think it’s really a common color for brick houses in this area, so now I will pay attention when I’m out and about to see how many brick houses are this color, just because I’m curious now.
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Pink Cashmere
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Post by Pink Cashmere on Nov 7, 2022 17:57:20 GMT -5
minnesotapaintlady what I see in the most recent pictures of the siding on your house would really stress me out. My biggest fears and concerns about owning a house are water being where it’s not supposed to be and electrical issues. Holes and rot in the siding would stress me out because of the potential for more water damage if water gets behind the siding. I’m not saying that in a judgmental way, I am just sharing the things that cause me OH SHIT moments as a homeowner. I hope you figure out which way to go as far as paying for the repairs soon.
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Post by minnesotapaintlady on Nov 7, 2022 19:53:26 GMT -5
On the plus side, it's been bad for YEARS. Like at least 5 or 6. So while it's obviously urgent, I'm not sure there's going to be a whole lot more damage to the house than there already is waiting until next summer.
I'm kind of in the F this house mood and have been for maybe 15 years or more. The flooding issues have just broken me. So, I'm kind of like, well, I'm comfy and warm and 99% of the time not dealing with water, I'll just stay here letting it crumble until I'm sick of it and then hand it over to someone else to deal with.
I'm just kind of overwhelmed with life right now. Work has been just ridiculous and everything at home is falling way, way behind. (I'm currently still at work and been here since 7am)
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Rukh O'Rorke
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Post by Rukh O'Rorke on Nov 7, 2022 21:14:42 GMT -5
On the plus side, it's been bad for YEARS. Like at least 5 or 6. So while it's obviously urgent, I'm not sure there's going to be a whole lot more damage to the house than there already is waiting until next summer.
I'm kind of in the F this house mood and have been for maybe 15 years or more. The flooding issues have just broken me. So, I'm kind of like, well, I'm comfy and warm and 99% of the time not dealing with water, I'll just stay here letting it crumble until I'm sick of it and then hand it over to someone else to deal with.
I'm just kind of overwhelmed with life right now. Work has been just ridiculous and everything at home is falling way, way behind. (I'm currently still at work and been here since 7am)
One thing I noticed was no trees around the house. Those do suck up a lot of water....
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Post by minnesotapaintlady on Nov 7, 2022 21:55:47 GMT -5
On the plus side, it's been bad for YEARS. Like at least 5 or 6. So while it's obviously urgent, I'm not sure there's going to be a whole lot more damage to the house than there already is waiting until next summer.
I'm kind of in the F this house mood and have been for maybe 15 years or more. The flooding issues have just broken me. So, I'm kind of like, well, I'm comfy and warm and 99% of the time not dealing with water, I'll just stay here letting it crumble until I'm sick of it and then hand it over to someone else to deal with.
I'm just kind of overwhelmed with life right now. Work has been just ridiculous and everything at home is falling way, way behind. (I'm currently still at work and been here since 7am)
One thing I noticed was no trees around the house. Those do suck up a lot of water.... I actually have about 50. Mostly spruce on each side for wind blocks. Then two maples, an oak, a flowering crab, a lindon, an ash a cherry, and a honeylocust. My water issues are way beyond planting more trees though. It's flash flooding, yard becomes a complete lake, running in the windows bad.
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Rukh O'Rorke
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Post by Rukh O'Rorke on Nov 7, 2022 23:37:21 GMT -5
dig a mote!
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Rukh O'Rorke
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Post by Rukh O'Rorke on Nov 7, 2022 23:37:40 GMT -5
add crocodiles for home security
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finnime
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Post by finnime on Nov 8, 2022 7:38:01 GMT -5
On the plus side, it's been bad for YEARS. Like at least 5 or 6. So while it's obviously urgent, I'm not sure there's going to be a whole lot more damage to the house than there already is waiting until next summer.
I'm kind of in the F this house mood and have been for maybe 15 years or more. The flooding issues have just broken me. So, I'm kind of like, well, I'm comfy and warm and 99% of the time not dealing with water, I'll just stay here letting it crumble until I'm sick of it and then hand it over to someone else to deal with.
I'm just kind of overwhelmed with life right now. Work has been just ridiculous and everything at home is falling way, way behind. (I'm currently still at work and been here since 7am)
No advice, just hugs. I remember those years too well. Work at a fever pitch, kids with their needs, urgent and sometimes emergent, and the house just was one more thing too much. Getting a contractor out to get a quote or two should be lower effort. Maybe it would help ease your mind.
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scgal
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Post by scgal on Nov 8, 2022 7:45:35 GMT -5
We bought our house last year and it had the same siding. I couldn't believe they used masonite unreal. We did a exterior reno roof, siding windows, upgrade front porch 42k. Three years ago could have gotten it done for 25k. What area are you in? I know Mich is in a real HCOL area, so I'm hoping more for something around 30K for just the siding than 50K. South Carolina. We had vinyl put on, got quotes for hardiboard and it was 50k just for the siding no roof. We had 1 company that specializes in exterior do it all. I'm very pleased but it was a sticker shock.
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nittanycheme
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Post by nittanycheme on Nov 9, 2022 11:06:36 GMT -5
If you just get one side redone, they could probably find something that is a close enough match. I had a sliding glass door installed in my sunroom, which meant they pulled down the wall that it was going into which had 3 windows and a door, and rebuilt it. They put new siding on, and it is a really close match in color to my existing siding. It helps that there really isn't any siding "side-by-side" each other since the new siding is corner to corner, so there really isn't a direct comparison. But I know that getting gutters installed correctly is very important. I had my flat roof on my sunroom replaced, and had them put on larger gutters there at the same time. Basically the entire back of the house fed into that gutter because of how the roof is designed, and I would get overflow in hard rains. Now I don't - but I'm sure that there is probably rot in some of the wood behind my siding on that side. There was a lot of rot in the wall they pulled down at the corner where the water overflowing the gutters would pond before I had the roof and gutter done.
I don't know how old the existing siding is, but I bought the house in Dec 2004 and it was on the house when I bought it.
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giramomma
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Post by giramomma on Nov 10, 2022 11:32:24 GMT -5
I'm kind of in the F this house mood and have been for maybe 15 years or more. The flooding issues have just broken me. So, I'm kind of like, well, I'm comfy and warm and 99% of the time not dealing with water, I'll just stay here letting it crumble until I'm sick of it and then hand it over to someone else to deal with.
I'm just kind of overwhelmed with life right now. Work has been just ridiculous and everything at home is falling way, way behind. (I'm currently still at work and been here since 7am)
I feel that and then some.
I agree with PPs. Get a couple of quotes before the weather turns bad. If you can, see if you can get a winter discount. When we were looking at replacing windows about 8 years ago, if we chose a January install, it was good for like 20% off of the price. A long time ago, the windows we wanted were 6K. It was enough to consider getting the work done during the off season. Survival mode is just fine. We're just now starting to come out of survival mode, having spent 5ish years there.
It's still do what you can, when you can.
That's all anyone can ask. ETA: If you are battling depression in there, then please take care of yourself by getting treatment.
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bookkeeper
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Post by bookkeeper on Nov 10, 2022 12:28:34 GMT -5
Survival mode - DH and I called it the work/life treadmill. We were on it with kids for 25 years. You do get to the point where you are so over it. Things will change as your kids launch and you get to choose your life for the next chapter. All that sounds great, but you are still on the treadmill for now.
You will have some choices to make regarding the next chapter and if it includes this property and all your animals. DH and I were done with the big house on two acres. We had cared for a property that size most of our adult lives. We wanted to have a house that was easy to close up and be gone for a month or two. That spelled out that we needed a house in town. Much more secure with neighbors around and easy to hire someone to mow or shovel.
With regards to your siding issues, I would suggest getting a roll of aluminum material and some screws and get those holes closed up before winter. It doesn't have to be pretty to be effective. You can figure out the rest later.
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Post by The Walk of the Penguin Mich on Nov 10, 2022 12:40:03 GMT -5
minnesotapaintlady…….why don’t you get someone out to give you an estimate, so you know exactly what you are working with? Also, I would NOT assume that the back of your house is perfect. If you looked at this house, it appeared similarly. It wasn’t until TD found he could take a screwdriver and push it into the siding that he realized how extensive the rot was. Appearance wise, the siding was perfect and we could have punted for another few years. We had it done because TD was still working, so much of the cost could be covered without pulling out of investments.
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Post by minnesotapaintlady on Nov 10, 2022 15:32:59 GMT -5
minnesotapaintlady …….why don’t you get someone out to give you an estimate, so you know exactly what you are working with? Yeah, mostly I'm just a bit overwhelmed with all the siding contractors out there and it's really hard for me to be home during the day. The one I emailed a few weeks ago has yet to reply, so I guess I'll cross them off.
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bookkeeper
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Post by bookkeeper on Nov 10, 2022 15:56:17 GMT -5
When we took off the old siding off our house in Nebraska, we discovered that there was no sheeting on the outside of the house. We had studs with plastic stapled to the outside and siding applied directly over that. There was fiberglass insulation between the studs.
Our contractor sent me to go find OSB. I bought 40 sheets and we got to work. What a cheap o way to build a house - especially in a cold climate! They must have saved $200 in 1977 when it was built. You never know what you will find when you tear into a house!
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Post by minnesotapaintlady on Nov 10, 2022 16:19:30 GMT -5
When we took off the old siding off our house in Nebraska, we discovered that there was no sheeting on the outside of the house. We had studs with plastic stapled to the outside and siding applied directly over that. There was fiberglass insulation between the studs. Our contractor sent me to go find OSB. I bought 40 sheets and we got to work. What a cheap o way to build a house - especially in a cold climate! They must have saved $200 in 1977 when it was built. You never know what you will find when you tear into a house! Well, I know because we built the house and ex and I did all the electrical and insulating. It does have exterior sheathing and house wrap.
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giramomma
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Post by giramomma on Nov 10, 2022 16:23:45 GMT -5
minnesotapaintlady …….why don’t you get someone out to give you an estimate, so you know exactly what you are working with? Yeah, mostly I'm just a bit overwhelmed with all the siding contractors out there and it's really hard for me to be home during the day. The one I emailed a few weeks ago has yet to reply, so I guess I'll cross them off. They may all be busy, though. It took two days to get a plumber to our house for a leak. Thankfully, we weren't dealing with an emergency situation. DH emailed the guy who can order/install a new control panel on our dishwasher, but hasn't heard back yet. It's the way things are.
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Post by minnesotapaintlady on Oct 11, 2023 12:43:04 GMT -5
Well, a year later I'm finally taking some initial steps. I have had two people show up to take measurements and look things over. One was early last week and one on Monday. Neither one of them would be able to do anything until next summer of course. I also left a message with the Hardie Plank website to get some installers to contact me, but haven't heard boo from them. First guy is giving me a quote on some kind of Masonite, I can't remember what he called it, but he said it's what he's doing his house in. 2nd guy is giving an estimate for plain vinyl, insulated vinyl and steel.
So, now I wait. I'm mentally prepared to hear numbers around 40K. Especially for the steel and masonite. These are my options to pull from, not real thrilled with any of them!
84600 Roth Basis 50000 401K Loan (9.5% interest) 30000 HELOC (8.5% interest) 28692 Savings Bonds (10,800 earmarked for HS) 9800 Taxable Account 5000 Savings I'm also thinking about just stopping contributing to any retirement for the next two years and paying off any loans, since right now I put about 37K/year away there, but with the exception of Roth contributions, that would be crazy expensive.
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Post by The Walk of the Penguin Mich on Oct 11, 2023 13:12:19 GMT -5
If you have damage, you're probably right about the cost being about $40K. We had this house done with Haardie Plank, and it's about 2800 sq ft, but only half the bottom floor was sided since it's built into a hill. This is a high COL area, but we also had the privacy wall rebuilt. I think we were a shade over $30K. The HELOC is the cheapest rate, I'd probably pull from that and take the other $10K from your saving's bonds.
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giramomma
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Post by giramomma on Oct 11, 2023 16:07:08 GMT -5
I don't know how 401K loans work.
I really like the flexibility of a HELOC. And if you are after a cheaper interest rate, you can convert the HELOC to a loan. If you decide you want to get out from the HELOC, you can always cash in bonds or whatever to pay it off. I don't know that I would stop paying for retirement. I'd cut back, but I wouldn't stop saving completely. I'm also risk adverse.
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Rukh O'Rorke
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Post by Rukh O'Rorke on Oct 11, 2023 17:53:17 GMT -5
does the 401k loan interest go to you? Or a big piece of it?
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401K Loans
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Post by minnesotapaintlady on Oct 11, 2023 20:31:03 GMT -5
does the 401k loan interest go to you? Or a big piece of it? Yes, but apparently they sell the assets to fund the loan and its not just secured with the 401K.
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haapai
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Post by haapai on Oct 11, 2023 20:31:37 GMT -5
does the 401k loan interest go to you? Or a big piece of it? The interest on 401k loans goes to the borrower and it gets taxed twice instead of once or thrice instead of twice, and it is confusing as heck even before you encounter someone who is plowing $37K a year into retirement assets and paying a 10% marginal federal tax rate. I know enough about MPL's taxes and tax strategy to say that I know nothing about what she should do. She will have to map it out on her own, with her own knowledge of when crucial parts of the equations change. Frankly, I almost suspect that she might be polling us just to see just how badly our advice fits her situation.
Our standard, works for most, back-of-the-envelope advice, might be comically sh^^ty if we give it to MPL.
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schildi
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Post by schildi on Oct 11, 2023 22:40:51 GMT -5
Double taxation on the principal repayment is a myth, there is no such thing. Yeah, the interest is taxed twice, but you are paying the interest to yourself. The big unknown is how the market will do, but that's true no matter where the money comes from, as you can invest the "other" money that you don't need to draw from or borrow if you take the 401k loan. Depending on the conditions at your work place, 401k loans may not be all that bad compared to other options. Or you dont buy what you were going to buy with the money, that's of course financially the best solution! 🙂
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Rukh O'Rorke
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Post by Rukh O'Rorke on Oct 12, 2023 10:24:57 GMT -5
does the 401k loan interest go to you? Or a big piece of it? Yes, but apparently they sell the assets to fund the loan and its not just secured with the 401K. if we drop 30%.....could be a great deal!
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Rukh O'Rorke
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Post by Rukh O'Rorke on Oct 12, 2023 10:26:47 GMT -5
Double taxation on the principal repayment is a myth, there is no such thing. Yeah, the interest is taxed twice, but you are paying the interest to yourself. The big unknown is how the market will do, but that's true no matter where the money comes from, as you can invest the "other" money that you don't need to draw from or borrow if you take the 401k loan. Depending on the conditions at your work place, 401k loans may not be all that bad compared to other options. Or you dont buy what you were going to buy with the money, that's of course financially the best solution! 🙂 Not with deferred house maintenance! ask me how I know
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Post by minnesotapaintlady on Oct 12, 2023 10:37:49 GMT -5
Double taxation on the principal repayment is a myth, there is no such thing. Yeah, the interest is taxed twice, but you are paying the interest to yourself. The big unknown is how the market will do, but that's true no matter where the money comes from, as you can invest the "other" money that you don't need to draw from or borrow if you take the 401k loan. Depending on the conditions at your work place, 401k loans may not be all that bad compared to other options. Or you dont buy what you were going to buy with the money, that's of course financially the best solution! 🙂 Not with deferred house maintenance! ask me how I know yeah, I'm right there with ya. Letting a house sit with rotting siding is not saving me anything in the long run. I suppose I could just sell and let the next guy deal with it.
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