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How do you pay for a new roof and new furnace ???

We would really like to buy our first home... But for right now we do not have that much extra money per month ( we have enough for a house and things like that) ...But i mean I am worried that as soon as we buy a house the roof will leak or the furnace will go out and I have been told that those things usually cost around $5000 and that you have to pay in full before you can get them

Is this true?
do they really cost that much for a smaller home ?
do you have to pay in full upfront?
How do other people without alot of money do it ?

Answer Question
 
Anonymous

Asked by Anonymous at 11:32 PM on May. 24, 2011 in Money & Work

Answers (5)
  • Roof - only costs that much if you go with high-end supplies and high-paid people to do it. If you get good, middle-of-the-road supplies and do most of the work yourself or with volunteer help, it's not as expensive - we have a small house and it cost us less than $1000 for good shingles (we got a discontinued kind, they had just enough left to do the house & garage and they were 1/3 of the price).

    Furnace - again, depends on the quality and things like that. But they're not 5k!

    You could always ask for just a little extra on your mortgage for those things and keep it socked away, or put a little on the mortgage and just replace it all right away so you don't have to worry for 10-20 years.
    Anonymous

    Answer by Anonymous at 11:38 PM on May. 24, 2011

  • that's why you get a home inspection BEFORE YOU BUY!! sure, some things may crop up after the sale, but the 'big ones' should be covered in an inspection..and if the roof doesn't pass, or anything doesn't pass inspection or code or even a minor detail that is 'iffy' by the inspector, you can back out of the deal. get it in the contract!
    there are always more homes..you never have to settle for a money pit..if you find out before the sale!
    dullscissors

    Answer by dullscissors at 11:43 PM on May. 24, 2011

  • We bought our home as a newly married couple back in Jan 2008 and there have been a few bumps where we were flat out brok. For instance the beginning of this year we had to buy a used vehicle b/c at the time my husband and i both worked but he was a pizza deliver man and i worked as a daycare assistant. We had to take a loan and just make low payments that way. It still made money very tight but we made it. We were glad it fell when it was almost tax season b/c we paid the loan off when we got our money back for this year. There will always be some kind of non planned expensenses but you just have to do what you have to do to make it.
    leann74016

    Answer by leann74016 at 12:57 AM on May. 25, 2011

  • I was going to say the exact same thing as dullscissors
    Get an inspection, get it rolled into the contract....
    And then save a little every month to build up an emergency fund in case something like that does happen
    elizabiza

    Answer by elizabiza at 10:23 AM on May. 25, 2011

  • Home warranty!
    tasches

    Answer by tasches at 5:13 PM on May. 25, 2011

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