Archive for the Home Ownership

How Much Value do new Appliances add?

As I mentioned before, we need to replace our stove. The stove we currently have is ancient, and works half the time. The burners are going out and sometimes I’ll put a pot of water on for tea and realize half an hour later that the kettle hasn’t started whistling. It’s annoying. Mr. Money is a chef, and wants to replace it with a gas range with a convection oven. There are a couple problems with this: one, convection ovens are expensive!; and two, we currently have an electric stove so we’d have to run a gas line to the stove and add a hood vent. I asked a heating and cooling specialist today about how much it would cost to do both of those things. He said that it would probably be $600 maximum. However, he would have to look at it to give me a more accurate quote. I told Mr. Money that, and he didn’t seem like it was a big deal. He was expecting it to cost more money than that. I told him he’d have […]

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Pay Off the Mortgage Early

Last year I shared how I can’t bring myself to pay extra on the mortgage. Fortunately, since then I’ve been able to bring myself to make a few additional principal payments on our mortgage, and I love seeing them applied directly to principal.  It’s a great feeling.  However, we have many more years to go and many more mortgage payments to make.  So far we’ve eliminated at least one mortgage payment off the life of our loan, and it feels awesome. When we refinanced our mortgage a couple years ago, instead of going with a 28 year mortgage (the amount of time that we had left on our original mortgage), we stretched it out to a 30 year mortgage to get a lower payment.  One of our goals is for me to be a stay at home mom whenever we do have kids, so that was a huge factor to us.  We figured we can always pay extra on the mortgage if we choose, but we can’t pay less.  It’s worked out well for us so far, and that’s really […]

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