Agreed. Costs have gone through the roof and even with doing some of the work ourselves we have backed off plans for a kitchen reno as we don't do debt and can't cash flow it. The contractor who did our bathroom upgrades a decade ago had pivoted to almost all 'aging in place' projects but said that business is really slowing down.
Lots of older folks have out-of-pocket medicals bills to pay...Rx costs also.
Is a spouse in a nursing home? Are they saving their money to move into assisted living? Are they supporting deadbeat adult children? Are they taking care of grandkids? Have they decided not to spend $40,000 on a kitchen redo that they won't get many years to enjoy?
I was pretty annoyed at your original comment when you first wrote it. Probably because you used the term "boomer" which has turned into a pejorative.
And what is so wrong about an older person staying in their home? Lots of memories are embedded into homes. Baby's first walk. A child's first day of school. Proms and graduations. Why should an older person move into a soulless white box apartment? After all, they worked hard all those years to have a nice home to raise a family. Just because a house is outdated, doesn't mean it is not important to the person/s living there.
And maybe younger people need to lower their expectations. Unless they want to spend $700,000+ for a new build that has all the bells and whistles.
I am just thankful I have a roof over my head...in my outdated house that I grew up in. Lots of veterans are homeless and living on the street, so I thank God every day for what I do have.
Sorry! I did not mean to be pejorative. I am just saying the younger generation is bypassing these homes when they go on the market, opening the door to more investors moving in and turning more and more homes into rentals. Too many rentals in a neighborhood does depress property values as many investors just do the bare minimum, if that. Constant issues with the rentals in our neighborhood, dead trees, peeling paint, etc, and takes multiple letters and threats of fines to get landlords to take care of their properties. My son and his wife rented a home for 2 years in an adjacent suburb where the owners did NOTHING - tree damage from a storm sat for a month before my hubby and I came over with a chain saw and helped them clean it up as multiple calls to the landlord were ignored. Borrowed our ladder and cleaned out gutters as trees were growing in them, and so on.
My friend's dad passed away 2 years ago was still in the family home that she and her siblings had been helping him maintain (but no upgrades) and when they listed it, they said, no investors, we want to sell to a family. Offer after offer from investors and 2 private sales fell through and finally just wanted to be done and gave up. So, just saying mis-match between young buyers expectations and economic reality. They would rather rent than buy a fixer upper but then complain about how they can't afford a home. That is just MY market. I know hot markets are just insane period. A friend's daughter in Denver just bought a 900 sq ft fixer upper and paid twice what that would sell for here.
I just used the term boomer+ as a demographic term, not intending to be negative. In 2023, 51% of houses sold nationwide were sold by boomers or silent generation, and were only 38% of the buyers and that gap is only going to increase. My point was these homes WILL be on the market in the coming years and if younger buyers don't buy them, investors are going to accelerate their holdings. Sadly, the days of big extended family helping care for the older generation are dying. I spent the first 6 months of 2023 caring for my mom as she did not want to move out of her apartment she had lived in since my dad passed in 2014. Kept saying she just needed more time to recover from a leg injury but she could no longer get around well and had several falls with fortunately no broken bones, but she was not improving and her apt was not handicapped accessible for a wheelchair. Couldn’t move in with us as we have stairs, live in a split level.
So I 'get' wanting to stay in wherever it is you call home. But there is a tipping point somewhere. My sisters are on either coast. I could not work, self employed, save a small project here and there, I was sleeping on an air mattress most nights in her apartment and something had to give, we have bills too. If I don't work I don't get paid. So my perspective is colored by that, and have half a dozen friends in similar situations, spending alot of nights and weekends taking care of a parent(s) home as well as their own as they don't want to move.
Speaking for myself only, personally I am not handy at all and don’t like doing work like that either (partly because it doesn’t come easily to me and is thus very time consuming and fraught with do-overs). And I don’t have family or friends who could help me and/or teach me. I also homeschool my son and work part time (freelance) as well as take care of the household, cooking, etc. So I have a full plate as it is. My husband is more gifted as far as being handy goes, but he has two jobs and very little extra time. We have what was a new build when we bought it but now is almost two decades old. I’d like to make some improvements and updates now but will likely be paying someone else to do them, when we have the money. At least that helps give someone else a job! 😑😛
My husband is reasonably handy, but landscaping is my thing and I hate indoor projects. They take twice as long as you think, stuff goes wrong and hubby and I always end up in a big fight, as he is a 'good enough' guy and I am a if you're not going to do it right, don't do it at all. Just one example - No matter what we did, pulling off the old wallpaper left divits and dents all over the drywall in the LR and hallway He was like, just hang pictures over the bigger holes. I am like, no we need to sand it down and skim coat it. It was really noticeable in daylight and looked terrible. He said it looked 'fine' and painted the walls. Took 2 years to convince him to hire a drywall guy. Over 34 years it's been a see saw between DIY and outsource. Outsource is way more peaceful.
If I didn’t like the aesthetics, I would change it. Or if it looked worn I’d refresh it. Probably wouldn’t change anything just because I was bored with it though. Aesthetics are important to me, I like living in spaces I find pleasing to the eye. I know some people only care about functionality, but people are not all the same and don’t have to like or appreciate the same things 🤷♀️
Well, it is concerns about collapse, war and who knows what else that has led us to only spending on 'essentials' just in case. Neither of our incomes are what they were pre covid - husband is commission sales in a dying industry (he calls on retailers) and just hopes to ride it out until he turns 65 in 4 years and I am self employed and between all my political involvement and taking care of my mom I don't take on as many projects, and they are harder to come by anyway. So anything extra goes to savings.
I always advise people to pay off any debts that they may have.
Years ago, I went to Argentina and stayed at a bed and breakfast. I peppered my host with all kinds of questions on what happened during their currency collapse.
She only wanted to be paid in US dollars...I had to carry a large amount of cash with me on the plane to pay for my stay.
With the emergence of BRICS, and all the new nations that want to join, I fear what is going to happen to our economy. Most people I know are not even remotely concerned.
Agreed, nationally credit card balances are on the rise as is consumer debt overall. SMDH when I make an online purchase and I get the offer - 'break this up into 3 easy payments' It's a house of cards....
Since we were discussing outdated homes, I wanted to show you this...
House in my neighborhood built late 1940s.
It still had the original steel cabinets in the kitchen that were popular in the late 40s and early 50s. Also check out the original pink bathroom. The house was extremely tidy and clean. The elderly man who owned it just recently died.
It was only on the market for 8 days before a contract was signed.
Cute! I actually like the steel cabinets, and willing to bet that house is better built than anything built in the last several decades. Although the tile in the kitchen is probably a nightmare to keep the grout clean. Our cabinets are dark wood and in terrible shape. Refinished once ~20 years ago. Hubby wants to re-finish again but I want to paint them so we have done neither.
I love those steel kitchen cabinets...reminds of the time in America when we actually made things. There were many manufacturers in what is now the Rust Belt.
I still have the formica counters with the stainless steel trim. I don't remember my house having the tile on the kitchen walls when I was growing up, but my next door neighbor had it on his walls.
All the houses in the neighborhood are made of brick with plaster walls and we all have hardwood floors. I would imagine the floors under the carpeting in that house for sale are in perfect condition.
The sale price for the house was a little on the low side. Most of the houses in that zip code are now selling for over $200,000. Considering the prices around the country, it is a true bargain.
The reason why some older homeowners do not do improvements is because they don't have the money.
Agreed. Costs have gone through the roof and even with doing some of the work ourselves we have backed off plans for a kitchen reno as we don't do debt and can't cash flow it. The contractor who did our bathroom upgrades a decade ago had pivoted to almost all 'aging in place' projects but said that business is really slowing down.
Lots of older folks have out-of-pocket medicals bills to pay...Rx costs also.
Is a spouse in a nursing home? Are they saving their money to move into assisted living? Are they supporting deadbeat adult children? Are they taking care of grandkids? Have they decided not to spend $40,000 on a kitchen redo that they won't get many years to enjoy?
I was pretty annoyed at your original comment when you first wrote it. Probably because you used the term "boomer" which has turned into a pejorative.
And what is so wrong about an older person staying in their home? Lots of memories are embedded into homes. Baby's first walk. A child's first day of school. Proms and graduations. Why should an older person move into a soulless white box apartment? After all, they worked hard all those years to have a nice home to raise a family. Just because a house is outdated, doesn't mean it is not important to the person/s living there.
And maybe younger people need to lower their expectations. Unless they want to spend $700,000+ for a new build that has all the bells and whistles.
I am just thankful I have a roof over my head...in my outdated house that I grew up in. Lots of veterans are homeless and living on the street, so I thank God every day for what I do have.
Sorry! I did not mean to be pejorative. I am just saying the younger generation is bypassing these homes when they go on the market, opening the door to more investors moving in and turning more and more homes into rentals. Too many rentals in a neighborhood does depress property values as many investors just do the bare minimum, if that. Constant issues with the rentals in our neighborhood, dead trees, peeling paint, etc, and takes multiple letters and threats of fines to get landlords to take care of their properties. My son and his wife rented a home for 2 years in an adjacent suburb where the owners did NOTHING - tree damage from a storm sat for a month before my hubby and I came over with a chain saw and helped them clean it up as multiple calls to the landlord were ignored. Borrowed our ladder and cleaned out gutters as trees were growing in them, and so on.
My friend's dad passed away 2 years ago was still in the family home that she and her siblings had been helping him maintain (but no upgrades) and when they listed it, they said, no investors, we want to sell to a family. Offer after offer from investors and 2 private sales fell through and finally just wanted to be done and gave up. So, just saying mis-match between young buyers expectations and economic reality. They would rather rent than buy a fixer upper but then complain about how they can't afford a home. That is just MY market. I know hot markets are just insane period. A friend's daughter in Denver just bought a 900 sq ft fixer upper and paid twice what that would sell for here.
I just used the term boomer+ as a demographic term, not intending to be negative. In 2023, 51% of houses sold nationwide were sold by boomers or silent generation, and were only 38% of the buyers and that gap is only going to increase. My point was these homes WILL be on the market in the coming years and if younger buyers don't buy them, investors are going to accelerate their holdings. Sadly, the days of big extended family helping care for the older generation are dying. I spent the first 6 months of 2023 caring for my mom as she did not want to move out of her apartment she had lived in since my dad passed in 2014. Kept saying she just needed more time to recover from a leg injury but she could no longer get around well and had several falls with fortunately no broken bones, but she was not improving and her apt was not handicapped accessible for a wheelchair. Couldn’t move in with us as we have stairs, live in a split level.
So I 'get' wanting to stay in wherever it is you call home. But there is a tipping point somewhere. My sisters are on either coast. I could not work, self employed, save a small project here and there, I was sleeping on an air mattress most nights in her apartment and something had to give, we have bills too. If I don't work I don't get paid. So my perspective is colored by that, and have half a dozen friends in similar situations, spending alot of nights and weekends taking care of a parent(s) home as well as their own as they don't want to move.
Why is it that younger people don't want to do updates on a house?
Not hard to pull up shag carpeting and refinish existing hardwood floors. Even I was able to it after a friend showed me how.
Speaking for myself only, personally I am not handy at all and don’t like doing work like that either (partly because it doesn’t come easily to me and is thus very time consuming and fraught with do-overs). And I don’t have family or friends who could help me and/or teach me. I also homeschool my son and work part time (freelance) as well as take care of the household, cooking, etc. So I have a full plate as it is. My husband is more gifted as far as being handy goes, but he has two jobs and very little extra time. We have what was a new build when we bought it but now is almost two decades old. I’d like to make some improvements and updates now but will likely be paying someone else to do them, when we have the money. At least that helps give someone else a job! 😑😛
My husband is reasonably handy, but landscaping is my thing and I hate indoor projects. They take twice as long as you think, stuff goes wrong and hubby and I always end up in a big fight, as he is a 'good enough' guy and I am a if you're not going to do it right, don't do it at all. Just one example - No matter what we did, pulling off the old wallpaper left divits and dents all over the drywall in the LR and hallway He was like, just hang pictures over the bigger holes. I am like, no we need to sand it down and skim coat it. It was really noticeable in daylight and looked terrible. He said it looked 'fine' and painted the walls. Took 2 years to convince him to hire a drywall guy. Over 34 years it's been a see saw between DIY and outsource. Outsource is way more peaceful.
Yes, all this!!!
I could never understand why a person would redo a perfectly functional kitchen because they felt it was out of style.
I have no problem with things that are still serviceable but would be considered "outdated" by some folks.
At this point, I am more concerned about the complete collapse of the US and possible entry into WW3.
If I didn’t like the aesthetics, I would change it. Or if it looked worn I’d refresh it. Probably wouldn’t change anything just because I was bored with it though. Aesthetics are important to me, I like living in spaces I find pleasing to the eye. I know some people only care about functionality, but people are not all the same and don’t have to like or appreciate the same things 🤷♀️
Well, it is concerns about collapse, war and who knows what else that has led us to only spending on 'essentials' just in case. Neither of our incomes are what they were pre covid - husband is commission sales in a dying industry (he calls on retailers) and just hopes to ride it out until he turns 65 in 4 years and I am self employed and between all my political involvement and taking care of my mom I don't take on as many projects, and they are harder to come by anyway. So anything extra goes to savings.
I always advise people to pay off any debts that they may have.
Years ago, I went to Argentina and stayed at a bed and breakfast. I peppered my host with all kinds of questions on what happened during their currency collapse.
She only wanted to be paid in US dollars...I had to carry a large amount of cash with me on the plane to pay for my stay.
With the emergence of BRICS, and all the new nations that want to join, I fear what is going to happen to our economy. Most people I know are not even remotely concerned.
Agreed, nationally credit card balances are on the rise as is consumer debt overall. SMDH when I make an online purchase and I get the offer - 'break this up into 3 easy payments' It's a house of cards....
Since we were discussing outdated homes, I wanted to show you this...
House in my neighborhood built late 1940s.
It still had the original steel cabinets in the kitchen that were popular in the late 40s and early 50s. Also check out the original pink bathroom. The house was extremely tidy and clean. The elderly man who owned it just recently died.
It was only on the market for 8 days before a contract was signed.
Hope you can pull up the link:
https://www.realtor.com/realestateandhomes-detail/1759-Seaton-St_Pittsburgh_PA_15226_M45200-09198?from=srp-list-card
Cute! I actually like the steel cabinets, and willing to bet that house is better built than anything built in the last several decades. Although the tile in the kitchen is probably a nightmare to keep the grout clean. Our cabinets are dark wood and in terrible shape. Refinished once ~20 years ago. Hubby wants to re-finish again but I want to paint them so we have done neither.
I love those steel kitchen cabinets...reminds of the time in America when we actually made things. There were many manufacturers in what is now the Rust Belt.
I still have the formica counters with the stainless steel trim. I don't remember my house having the tile on the kitchen walls when I was growing up, but my next door neighbor had it on his walls.
All the houses in the neighborhood are made of brick with plaster walls and we all have hardwood floors. I would imagine the floors under the carpeting in that house for sale are in perfect condition.
The sale price for the house was a little on the low side. Most of the houses in that zip code are now selling for over $200,000. Considering the prices around the country, it is a true bargain.