Making choices and factoring in the era of your home
AMS
6 years ago
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AMS
6 years agoRelated Discussions
what do you use for inflation factor in your long term plan?
Comments (11)Some of my clients (and others) 20 years ago chortled at all of the money they were making when Canada Savings Bonds were at 19% about 1981. They saw those numbers added to their bank account. Wouldn't believe me when I told them that they had a real rate of return of about 2%. If they were in 25% income tax bracket, that hauled the 19% down to 14%+, after-tax retention. Then I asked them whether they knew what the rate of inflation had been - few knew about 12%. Which meant that they needed to add about that amount to their basic asset in order to maintain purchasing power. As I've said elsewhere - there are two rats that eat your cheese. Your partners the income tax people want to talk to you about all of your income, each year - and they want part of it. The rat called inflation chews a corner off of each dollar of your invested assets each year, as well. Your real rate of return is what's left - quite often, nothing. Or nearly so. Know what - the rats eat first! Many financial advisors suggest that as people age, they should invest more of their assets where the principal is pretty well safe - say, at age 80, deduct that from 100 and carry that proportion in safe investments, with only about 20% in the more volatile stuff. But I'm near 80, and I have about 80% or more in equity-based investments, as I've been playing that game for upwards of 50 years. If you choose to carry a fairly large proportion of your assets in guaranteed stuff, where the number of dollars that the borrower repays you are guaranteed to be no fewer than s/he borrowed ... they won't be increased by a single dollar, either, apart from the rent that they agreed to pay. It seems to me that if you choose that route for a substantial portion of your assets, that's the circumstance in which you need to be substantially worried about the ongoing inflation rate. I've invested in a number of quality stocks, and their value tends to increase faster than inflation, in the main. And dividend rates tend to increase, in tandem with the stock price. Which means that I need chew my fingernails much less about the ravages of inflation than do the people who carry a large proportion in "guaranteed" assets. My fingernails have habit of splitting, as it is - they don't need help from my (non-existent) teeth! Hope you get things worked out to your long-term satisfaction. ole joyful...See MoreFlooring Choices in 1900 era home
Comments (8)The linoleum could have been original! The scale is right for the early 1900's. You can consider ceramic tile for your entry way, also laid in an intricate pattern called 'encaustic tile'. The tiles are about 2"x2" set with a dark border. They are available today. You could use an 'oriental' area rug (they were often called Axminster or Belgium - I think the name refers to the looms used) with a border and flowers in the middle. You could also use slate or quarry tile or even sisal. It depends upon the style and sophistication of your house and your preferences. The best book for reference is 'Floor Coverings for Historic Buildings' Von Rosensteil and Winkler, Preservation Press, 1988. Or try to find a copy ( library loan?) of 'Elements of Style', Calloway and Cromley, Editors, Simon and Schuster. I have the 1991 edition; there are be others....See MoreWhich kitchen style for my 90s-era house?
Comments (38)I don't think it was actually about trends for me. I suspect I'll like what I like now for most of the rest of my life. I think it was more that I'd never really considered kitchens before. Or my home. I'd just bought my first home when I started pinning and had never had the choice to decide how my kitchen looked before or flipped through kitchen pictures before. For instance, I don't think I'd seen an all-white kitchen before, which is a clean, crisp, appealing look. So I pinned a bunch of those. And then later I found some multicolored kitchens I liked so much more, and now I could never go back to all white. So it was more of a you-have-to-kiss-a-lot-of-frogs thing at work. With no perspective and nothing to go on, I had very little idea of what worked for me and what makes me happy, and I'd seen very little of what was out there. I also knew nothing about kitchen function. But now I've seen a bunch, learned a bunch, and thought a bunch, and I think I can happily marry this general concept for the long haul: lots of windows, green view, decidedly informal low-to-mid-range finishes, overall light and bright in tone, some wood, and some actual color on the walls or cabinets (yellow, green, or a warm blue). The real problem is that my husband hates yellow and green and prefers dramatic, dark, and fancy stuff, and I'm also married to him for the long haul....See MoreWhat are you doing to make your house enrich your life?
Comments (38)I've been thinking about this a lot since it was first posted. I'm not sure I'll be very coherent, but my rambling will make sense (mostly) in my head. We bought this house/property 5.5 yrs ago, it was a neglected house, but the lot was to-die-for (middle of town, near a great park, LARGE (for in town), 7 minute commute to work, on a corner, with lots of mature trees). We stalked it for years prior while the old lady went off her rocker (sadly not exaggerating) as we lived just 2 blocks away. So that's part of our crazy plan- to not contribute to sprawl (it just makes me sad). I live in an area of the most fertile soil in the world- we should not be building houses here. So doing a demo/in-fill makes my heart feel a little joy. We want to create a legacy for our children. I know they may move away and not want this house when we die, but I hope it can be paid for and provided to them as an inheritance. Or maybe they'll want it b/c we're hoping it really creates a love of 'home' and family. We hope to do a lot of the work ourselves (being big DIYers and having done almost everything to the 2 homes we've lived in) and hope to involve the kids in some of that work so that they have some ownership. I really want to create a home with minimal maintenance as the last 2 homes have been non-stop with one thing or another. Like today when our kitchen sink was running slow and after snaking it it was fine- only to go to the basement and realize all water was now backing up from the floor drain. As if mowing, trimming bushes, and cleaning off the back porch from winter wasn't enough to keep us busy today. So new construction is a must. I get water in the basement every time it rains, the joists are termite eaten, there's adequate space (another 200 sq ft would be PERFECT), but it's not built for accessibility for overnight guests and my FIL is in a wheelchair (as is MIL, but she doesn't stay with us) and my mother has had 2 hip replacements and 2 spine surgeries. 1st floor guest room is also a must. When we bought this house we interviewed architects to see about an addition and major remodel- for 17K more the builder/designer could demo the existing house and build the same sq footage as a shell, BUT NEW (my eyes and ears and back like the sounds of that!). That sold us on living here and making do with 3 layers of wallpaper in the dining room, floor that are mushy, a 1 person kitchen, no tub, on and on and on. So we're living in the house until it's paid off so that we can get more of what we want. In the meantime we will continue to play around with plans and have done lots of reading and research. There are some things we'll be able to re-use- some light fixtures, the garage door opener, faucets, all the appliances, and I'm hoping to buy some things in advance and just store until needed. My husband and I agree on quality over quantity. We don't want a McMansion, we both want a rectangle (Colonial). Preferably one that's more energy efficient than our current home (not hard to do), and keeps us warm/cool/dry. A place to live in for as long as I can conceivably live alone (my grandma made it to 95 with her hardy Midwestern genes). The most current set of tinkering plans have very little in the way of compromise- I think if we can do that and actually build the thing we can call it a success and check something off our bucket list while drinking coffee sitting in our screened-in porch on a Sunday morning knowing all we have to do is mow and trim bushes (and maybe clean off said porch :))....See MoreAMS
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