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The Simple Dollar Morning Roundup: Home Inspection Edition 2comments
Today is our home inspection, which I’ll go to this afternoon. I am fairly good with identifying some structural and other problems and I’m pretty confident the inspection will be quite smooth, but I hope to learn some things as well.
Health and Wealth One of the best commenters on The Simple Dollar has a personal finance blog of his own, in which he wrote a series about personal finance connected to health issues. I wanted to link to one of the articles, but couldn’t make up my mind which one of the five to link to, but he put them all on one page for the readers. There’s some good basic information here. (@ 60 in 3)
Why You Need More Than An Index Fund This argument is good in one way and weak in another; my counterpoint would be that you should just own multiple index funds and balance it yourself. (@ money mythos)
How to Build Your Own Amortization Schedule I love well-written personal finance spreadsheet tutorials, and this one does a great job of teaching how to build a debt payment schedule in Excel (or the spreadsheet of your choice). (@ wise bread)
The Simple Dollar Retro: Ten Ways To Accelerate Your Net Worth Growth When you start calculating your net worth and looking at the growth (or lack thereof) from month to month, you’re soon going to want to look for ways to accelerate that growth. Here are ten ways to get that growth going up.
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Ted: the previous homeowners left the home in really stellar shape – my expectation is a good handful of small nits which my wife and I will look at and then probably ask for them all to be fixed or else a small cash payment or something like that to cover it. I had a carpenter friend of mine wander through the house a while back and he was very impressed with several little details, so I have a feeling it’ll be good.
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Get everything you can out of the inspection. You should get the price of the inspection back at least from little things. If there’s nothing to fix or repair, then either 1) the previous owner is a mechanic of some sort, 2) the inspector isn’t doing a good job.
Be really sure to have the heating and cooling units thoroughly checked out. The last thing you want is for the A/C to blow a month after you’ve moved in.
Following the inspector’s report, I highly recommend that you ask for the moon from the owners, even if you can live with it as is. Ask them to fix everything, re-stain the deck, patch the roof, whatever. They can always counter and cut it off at $500 or whatever the limit is. Or they might just fix it all.