I can't believe it's been a year since we bought this home that we are now living in. Time flies so fast that I can still remember being so busy putting things away' or trying to find things in a pile of boxes. We bought this home in March of 2016 but we didn't really moved here until the end of June 2016. We decided to do some home improvement before we moved in. T
We bought our first home in 2006, lived in it for ten years then it was no longer a good size for our growing family. We bought it for $85k and sold it for $107k. If you look at the price you would think that we made money off the price that we sold it but we put around $40 on home improvement so it just work out to be the same. So based from our experience, there's not really an effect when you buy a new house and sell the old one you lived in for over ten years.
Hubby and I thought that we would be paying taxes since we sold the house but thank goodness that we did not. We did our tax today and we did not anticipate of having a refund because of the property that we sold but we still got a little bit back. I was relieved! I told my husband that if we ever have to pay taxes for the house that we sold, we are toast since the money that we got from the sell is already spent in improving this new home. We spent $16,726 for the new windows. It was a necessary home improvement that we needed to do because the existing windows were in pretty bad shape that it was affecting our energy bills. Owning a house consist of constant home improvement needs. We already put in around $25 thousand in this home and we just owned this for a year. With that expenses, the value of the home only raise up to $2k, oh well. I am just glad that we did not pay any additional tax for selling our former house. The next big project that we have to tackle next time is having new kitchen but that would be in the years to come, maybe if I win the lottery lol.
11 Smart Readers SAID::
Home ownership is not a glamorous money maker, that's for sure. But there's nothing like having your OWN home.
It's a bummer when you sell and you don't actually make any money on you rhome. However, you can't put a price on your home being YOUR home.
Wow! That a relief... I can't believe your windows were so pricey!
Purchasing a home is a huge investment. We purchased our home two years ago. Hopefully we can spruce it up before we sell it to make a bit on it.
It's crazy isn't it!? And you are right, the expenses never end. You do have a lovely home though and I really love the style of it!
I totally agree about the constant home improvement needs. It's important that we save money for this.
It's difficult to be a home owner sometimes. I made the decision to let my daughter move into my home even though it's paid for, and I moved into an apartment. I just didn't want to deal with the lawn and any other issues that could come up, due to my failed back surgery. I like that I can call my apartment manager to fix anything and I don't have to deal with it myself. I think it's awesome that you got back taxes instead of having to pay in.
There are so many costs involved with a new home. It's good that you guys made some money off your old one.
I hate having to make home improvements, those can really come at a bad time. Well almost anytime is a bad time in my eyes but it is nice when it is long over with and you enjoy your new windows, roof, porch, or whatever the improvement is.
Home improvements are a necessary evil. We also have a lot of projects to do, but hopefully they will all be worthwhile.
Home improvements are so necessary. and unfortunately if you dont do them it starts to show
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