Basic Tools

[Conndog]

Hi, been a homeowner for years but have just a few scattered tools- a hammer, some screwdrivers- think I have a basic cordless drill but can’t find it & think I’ll get a new one. I’d like to buy a set of basic tools that a homeowner should have for both house and yard maintenance. What would be a good starting list? Off top of my head, I’d like to get: cordless drill, chainsaw, hand saw- and where is good place to buy? Budget is kind of limited- thanks!

 

[Phorcys]

People with too many tools scare the hell out of me.

 

[Scottzer]

Renting represents freedom, as opposed to being stuck to one plot of dirt potentially forever, and then buried in the family plot at the local cemetery. I tend to move around, a lot. Some past addresses with my name on the lease include: Atlanta, Baltimore, Boston, Brooklyn, Cambridge, Charlotte Amalie, Los Angeles, Queens. I am someone who loves to travel, but prefer to experience new cultures and generally expand my horizons by actually moving to a place, and fully participating in and becoming an active member of its community.

Try selling, and then buying a new condo—or worse, a house—in a bad real estate market when your next opportunity suddenly emerges in Sydney, Australia (I am currently exploring possibilities).

What if you make a mistake, and discover after moving in that your neighbor is a homicidal maniac? As a renter, I’ll just break the lease and suffer some minor financial penalties and a black mark on my next credit report. Owners are stuck sleeping with one eye open, especially those nights when the neighbor had spent the entire day sharpening power tools in his tool shed out back, sparks flying and maniacal laughter. No thank you.

I’ve lived in Brooklyn, too. Far more than I was ever concerned with a neighbor having power tools in their own apartment, I tried to pay attention to the guys carrying tools that did not require a battery or power supply. (I found myself in the middle of a battle - couldn’t see who was firing, and several of us ducked into building alcoves). This was not the only occasion I found myself way too close to the action. (First one, I saw the signs - a guy leaves his building complaining about somebody insulting his baby’s mama, then back tracks into his building/. I keep walking down the street and see a guy out with a machete. I cross the street and turn the corner - and I immediately hear 5-6 shots. I call 911 - then realize I can see the precinct. Cops ask me if I’m sure it wasn’t fireworks. Yes, I’m sure. Eventually they find a blood trail. I’m sure machete guy got shot (he survived).

And you’re afraid of power tools?

At least in the sticks, I can have my own tools and if somebody shows up, I can defend myself with my own tools.

 

[husky429]

People with too many tools scare the hell out of me.

You're a weird dude, but I like it

 

[jibsey]

I really admire people who have skills and tools to do nearly everything around the home. My 82 year old neighbor in Fla gutted and did complete bathroom, replaced his gas hot water heater, electrical, the works by himself. I’m in awe.
But I just had a massive tree felled in Ct and the guy (with team) climbed it, stripped the branches, dropped it to a stake he set within 6 inches. Not to mention a huge chipper truck and moving the huge pieces with heavy equipment off property. This is NOT for amateurs.

 

[uconnfan68]

I really admire people who have skills and tools to do nearly everything around the home. My 82 year old neighbor in Fla gutted and did complete bathroom, replaced his gas hot water heater, electrical, the works by himself. I’m in awe.
But I just had a massive tree felled in Ct and the guy (with team) climbed it, stripped the branches, dropped it to a stake he set within 6 inches. Not to mention a huge chipper truck and moving the huge pieces with heavy equipment off property. This is NOT for amateurs.

That x1000.

 

[Flipside]

If you don't mind me asking, how do you feel about paying rent for a living space where you'll never get anything back for that money you dish out? ...

... the time tested owners vs renters conversation ... I was a lifelong renter, up until 3 years ago - used to hear all of that "wasted money" money talk from my homeowner friends

When a sink clogs, or even if a lightbulb goes out, I miss being able to log a service request and have maintenance show up at 8:31am to handle it ... now it's $300 electrician bills, ah, the joys of home ownership

Home ownership is a labor of love, imho ... owning a home is not an investment (unless one plans to live in it for ~20yrs), again, imho ... personally, I miss my flat $3K/mo rent, 100% services, and pouring extra funds in to passive investments ... but to each their own

 

[jibsey]

You own a home, it never stops. I keep asking every year. Give me 1 year where I don’t have some significant issue to deal with. Never will happen.

 

[Minicoop69]

You own a home, it never stops. I keep asking every year. Give me 1 year where I don’t have some significant issue to deal with. Never will happen.

Facts!! A pipe burst last Saturday in my basement and had around 3 inches of water in about half of basement. Sucked, but I'm glad I caught it at that time.

 

[jibsey]

Facts!! A pipe burst last Saturday in my basement and had around 3 inches of water in about half of basement. Sucked, but I'm glad I caught it at that time.

Year before last I lived through your nightmare. You do not want to know what happened or what I spent.

 

[superjohn]

Exactly. I've never leased a car or paid a month's rent before.

Do you pay a monthly mortgage payment or did you buy your house/previous houses straight cash?

 

[Minicoop69]

Year before last I lived through your nightmare. You do not want to know what happened or what I spent.

Surprisingly it didn't do that much damage. Most things where it burst were inside plastic Costco boxes so nothing inside was ruined. I fixed the burst pipe with Press fittings and Pex expansion. Cost me about $80 in parts. The stupid floor fans cost more than the parts. If I hired a plumber it would have cost over $1000 since it was a Saturday.

 

[Deepster]

... the time tested owners vs renters conversation ... I was a lifelong renter, up until 3 years ago - used to hear all of that "wasted money" money talk from my homeowner friends

When a sink clogs, or even if a lightbulb goes out, I miss being able to log a service request and have maintenance show up at 8:31am to handle it ... now it's $300 electrician bills, ah, the joys of home ownership

Home ownership is a labor of love, imho ... owning a home is not an investment (unless one plans to live in it for ~20yrs), again, imho ... personally, I miss my flat $3K/mo rent, 100% services, and pouring extra funds in to passive investments ... but to each their own

Counter?

I've owned 4 houses going back to 1999-2000.

1) +12% on the sale - 3 years
2) +4% on the sale (got divorced and had to sell) - 5 years
3) +31% - 6 years
4) Current house is up 70% over my sale price. - 11 years

I never overbought and always made sure of looking at things like resale, proximity to schools (this house has K through 9th) within 4 blocks walking distance) and I've done things like wood flooring, redo the bathrooms, landscaping, etc that was a good investment for the cost (not something like putting in an inground pool which is a huge loser investment wise). Also refinancing for lower interest rates or to cut a 30 yr to a 15 yr any time it was worth it has been huge.

I think my sink has clogged twice in 25 years. Both times I figured it out (and I am NOT handy, YouTube is your friend). Worst thing I've had to deal with was a sump pump that didn't go on and my finished basement got flooded, but homeowners covered everything but $750.

 

[Deepster]

Do you pay a monthly mortgage payment or did you buy your house/previous houses straight cash?

Started out with a 10% downpayment. Never paid more than 15% cash/equity. As said in the other post, most mortgages have a clause where you can "quick refi" for a charge. A couple times I chopped a point or more off my interest rate for like $750.00. When my mom passed away, I took some of the money from her house, paid down principal and cut a 30 yr to a 15 yr at a lower monthly payment.

 

[TheRealKBuks]

Hi, been a homeowner for years but have just a few scattered tools- a hammer, some screwdrivers- think I have a basic cordless drill but can’t find it & think I’ll get a new one. I’d like to buy a set of basic tools that a homeowner should have for both house and yard maintenance. What would be a good starting list? Off top of my head, I’d like to get: cordless drill, chainsaw, hand saw- and where is good place to buy? Budget is kind of limited- thanks!

Impact driver will serve you well too.

You’ll want to settle on one brand though for your power tools since most batteries don’t work across brands (dewalt battery not compatible Bosch tools etc)

 

[Flipside]

Counter?

I've owned 4 houses going back to 1999-2000.

1) +12% on the sale - 3 years
2) +4% on the sale (got divorced and had to sell) - 5 years
3) +31% - 6 years
4) Current house is up 70% over my sale price. - 11 years

not a counter, great discussion

love the %gains, can you share every expense as well (from grass seed, to paint, to property taxes & insurance paid, to other admin costs, to labor, to attys & real estate fees, to inconvenience of mulching all wknd while us renters were partying in Ibiza), and deduct both the financial and emotional costs, including the time value of money (and time), from the headlines?

 

[superjohn]

Counter?

I've owned 4 houses going back to 1999-2000.

1) +12% on the sale - 3 years
2) +4% on the sale (got divorced and had to sell) - 5 years
3) +31% - 6 years
4) Current house is up 70% over my sale price. - 11 years

I never overbought and always made sure of looking at things like resale, proximity to schools (this house has K through 9th) within 4 blocks walking distance) and I've done things like wood flooring, redo the bathrooms, landscaping, etc that was a good investment for the cost (not something like putting in an inground pool which is a huge loser investment wise). Also refinancing for lower interest rates or to cut a 30 yr to a 15 yr any time it was worth it has been huge.

I think my sink has clogged twice in 25 years. Both times I figured it out (and I am NOT handy, YouTube is your friend). Worst thing I've had to deal with was a sump pump that didn't go on and my finished basement got flooded, but homeowners covered everything but $750.

There's tradeoffs and benefits to both owning and renting.

As for renting there's something to be said for never having to worry about a major repair like a new roof. Never paying a dime on a single project or repair, getting a new furnace, stove, washer dryer etc. for free instead of paying out of pocket if/when they break down. Never mowing a lawn or paying someone else to mow your lawn, never paying for a snow plow to do your driveway, never paying for landscaping etc. Being able to pick up and move anywhere you want in the world immediately. Not having a huge amount of your money tied up in your home with monthly mortgage payments, property taxes, maintenance/home repairs, home insurance as you pay it off.

A lot of it depends on where you live, how heavily/aggresively you invest in money markets, if you are incredibly handy/enjoy projects, living within your means.

It's so often parroted that renting is throwing away money and that couldn't be further from the truth in my experience.

 

[Deepster]

not a counter, great discussion

love the %gains, can you share every expense as well (from grass seed, to paint, to property taxes & insurance paid, to other admin costs, to labor, to attys & real estate fees, to inconvenience of mulching all wknd while us renters were partying in Ibiza), and deduct both the financial and emotional costs, including the time value of money (and time), from the headlines?

I asked ChatGPT:

Here's a breakdown of the financial comparison over the 10 years you rented:

🏠 Homeowner (Paying $2,300/month)​

• Total Paid: $276,000
• Principal Paid (Equity): $205,052.16
• Interest Paid: $70,947.84
• Net Cost (Total Paid - Equity): $70,947.84

🏢 Renter (Paying $3,000/month)​

• Total Rent Paid: $360,000
• Equity Gained: $0

📊 Conclusion​

✅ Financially, the homeowner made out better over 10 years.

Is there a scenario where renting for $3,000 a month would make more sense financially?

Yes, there are several scenarios where renting for $3,000/month could make more financial sense than buying a home—even if the monthly mortgage payment is lower. Here are some key factors that could tilt the balance in favor of renting:

---

🧠​

If a renter invests the difference between the cost of renting and the cost of owning (including down payment, maintenance, insurance, taxes), and earns a solid return, they could outperform the equity gained from homeownership.

• Example: If the homeowner puts $60,000 down and the renter invests that at 7% annual return, the investment could grow to over $118,000 in 10 years.

---

🛠️​

Homeowners are responsible for all repairs and maintenance. If the home requires major work (roof, HVAC, plumbing), those costs can add up quickly.

• Renting avoids surprise expenses like a $10,000 roof replacement or $5,000 HVAC system.

---

📉​

If the housing market stagnates or declines, the homeowner may not build much equity—or could even lose money.

• Renting avoids the risk of being “underwater” on a mortgage.

---

🧳​

Renting offers more flexibility. If you need to move for work, family, or lifestyle, you can do so without selling a home.

• Selling a home involves agent fees (~6%), closing costs, and market timing risks.

---

🧾​

In some areas, property taxes or HOA fees can be very high, adding significantly to the cost of ownership.

• Renters don’t pay these directly.

---

​

 

[temery]

I have a friend who managed a local tool rental place for years. When it closed, he went to work for Home Depot.

He says the number of people who buy tools they're going to use once or twice keeps the big box stores in business.

 

[jibsey]

I do as much as I can but I don’t plumb or go near an electrical panel box. YouTube videos have me doing many things I never would. Currently rattle can painting my son’s 2008 paint clearcoat destroyed Honda Civic in the garage. Not easy but anything will look better than what it was (already does). The learning experience is great plus father/son bonding.

 

[Flipside]

In some areas, property taxes or HOA fees can be very high, adding significantly to the cost of ownership.

• Renters don’t pay these directly.

---

​

I got a $20K assessment and my HOA doubled to $1,150/mo, in the last few years due to https://www.npr.org/2024/03/08/1236...a-champlain-towers-south-condo-collapse-cause

I'm not complaining at all, as a former renter most of my life, and now a homeowner

Math is just math, and often doesn't take in to account a ton of expenses of owning (house or condo) vs renting ... owner's usually just cite bought & sold price - in the end, I think the 'equity' depends on how the person defines it, imho

 

[Phorcys]

You're a weird dude, but I like it

My approach to life has always been about accumulating experiences, rather than possessions.

Instead of tools for future woodworking or landscaping projects, I sate my masculine urges of being “hands on and in control of machinery” by driving ... whether weaving deftly through LA downtown city traffic or carving nearby canyon roads.

Last week I took delivery (cash purchase) of a new, very rare manual-transmission Mazda3.

My prior car was a 2004 WRX Wagon (also a cash purchase). I bought it new and drove it for 160,000 miles the way it was engineered to be driven ...

(entertainingly aggressive ... although not dangerously so, especially when the car-seats in back were occupied with children ... It was a fantastic car) ... Drove it until I killed it, raising two kids as a single father in the densest and most diverse neighborhood of Los Angeles ... and then donated it to 1-800-KARS4KIDS.
I plan to do something similar with this new car ... unless I move to Sydney, Australia.

Counter?

I've owned 4 houses going back to 1999-2000.

1) +12% on the sale - 3 years
2) +4% on the sale (got divorced and had to sell) - 5 years
3) +31% - 6 years
4) Current house is up 70% over my sale price. - 11 years

I never overbought and always made sure of looking at things like resale, proximity to schools (this house has K through 9th) within 4 blocks walking distance) and I've done things like wood flooring, redo the bathrooms, landscaping, etc that was a good investment for the cost (not something like putting in an inground pool which is a huge loser investment wise). Also refinancing for lower interest rates or to cut a 30 yr to a 15 yr any time it was worth it has been huge.

I think my sink has clogged twice in 25 years. Both times I figured it out (and I am NOT handy, YouTube is your friend). Worst thing I've had to deal with was a sump pump that didn't go on and my finished basement got flooded, but homeowners covered everything but $750.

The Myth about real estate always being the safest investment long-term should have popped along with the 2008 crisis. Homeownership is a hobby ... a very rewarding hobby for people so inclined ... but it is a hobby ... not an investment.

 

[Hunt for 7]

My approach to life has always been about accumulating experiences, rather than possessions.

Instead of tools for future woodworking or landscaping projects, I sate my masculine urges of being “hands on and in control of machinery” by driving ... whether weaving deftly through LA downtown city traffic or carving nearby canyon roads.

Last week I took delivery (cash purchase) of a new, very rare manual-transmission Mazda3.

My prior car was a 2004 WRX Wagon (also a cash purchase). I bought it new and drove it for 160,000 miles the way it was engineered to be driven ...

(entertainingly aggressive ... although not dangerously so, especially when the car-seats in back were occupied with children ... It was a fantastic car) ... Drove it until I killed it, raising two kids as a single father in the densest and most diverse neighborhood of Los Angeles ... and then donated it to 1-800-KARS4KIDS.
I plan to do something similar with this new car ... unless I move to Sydney, Australia.



The Myth about real estate always being the safest investment long-term should have popped along with the 2008 crisis. Homeownership is a hobby ... a very rewarding hobby for people so inclined ... but it is a hobby ... not an investment.

Are you sure you want to stay with that answer. Maybe you are right but I don’t think you are just from personal experience. Home ownership is step one in creating generational wealth.

My current home has increased in value by 110% frommwhen I put the deposit down on new construction on January 20, 2020, which was before Covid and it had almost doubled in value by the time it was finished being built in December 2020 and we moved in. I do not do much hobbying with my home. I can if I need to but usually I got a guy for that……

 

[UCLJ0211]

Thought this was a thread describing Syracuse fans

 

[Hoophound]

not a counter, great discussion

love the %gains, can you share every expense as well (from grass seed, to paint, to property taxes & insurance paid, to other admin costs, to labor, to attys & real estate fees, to inconvenience of mulching all wknd while us renters were partying in Ibiza), and deduct both the financial and emotional costs, including the time value of money (and time), from the headlines?

Buying good real estate at the right time is 100% a solid path to wealth. Buying any old real estate when everyone else is buying it—-is a recipe for disaster.

We are fairly wealthy. 70% of what we have came from real estate deals. It works well for us for the most part. We’ve bought wrong and lost a few times, but all of our other transactions were profitable. We’ve bought and sold property many times.

One huge and overlooked factor for many people is this: Most people are bad with money. If they have it they spend it. They might spend it in different ways, but they spend it. In the big picture, blowing 100k on a car or clothing isn’t much different than spending it at the casino. Money put into property is somewhat protected. There is a principle reduction and a cash value in the end. Many people buy a “wasteful” second home. It might have cost them 500k over the years and now it’s paid for and worth 500k. They’ve got a half million they probably wouldn’t have had and they’ve made a lot of great memories. Now, if they’d stayed home, never went on vacation and never taught their kids to sail or ski or whatever and invested the money in an index fund, they might have $2,000,000. Unfortunately, most people wouldn’t do that. They’d spend the surplus on cars, clothes, concerts, cruises and any of a million other things. So, real estate is a great hedge against your own impulsiveness and self indulgence. I come across people everyday that have a nest egg because they bought a home. They’ve don’t have anything else. If you are a life long renter, you better be investing a lot elsewhere.

 

[Phorcys]

Are you sure you want to stay with that answer. Maybe you are right but I don’t think you are just from personal experience. Home ownership is step one in creating generational wealth.

My current home has increased in value by 110% frommwhen I put the deposit down on new construction on January 20, 2020, which was before Covid and it had almost doubled in value by the time it was finished being built in December 2020 and we moved in. I do not do much hobbying with my home. I can if I need to but usually I got a guy for that……

If you did not invest any effort or expense in improving the property ... that 110% gain is fictional ... it’s not something you will be passing down to future generations.

Quite simply ... you don’t make a fortune solely because you bought something.

Buying is consumption, not investment.

For the record, I am the product of "generational wealth" ... sort of ....

 

[Phorcys]

Buying good real estate at the right time is 100% a solid path to wealth. Buying any old real estate when everyone else is buying it—-is a recipe for disaster.

We are fairly wealthy. 70% of what we have came from real estate deals. It works well for us for the most part. We’ve bought wrong and lost a few times, but all of our other transactions were profitable. We’ve bought and sold property many times.

One huge and overlooked factor for many people is this: Most people are bad with money. If they have it they spend it. They might spend it in different ways, but they spend it. In the big picture, blowing 100k on a car or clothing isn’t much different than spending it at the casino. Money put into property is somewhat protected. There is a principle reduction and a cash value in the end. Many people buy a “wasteful” second home. It might have cost them 500k over the years and now it’s paid for and worth 500k. They’ve got a half million they probably wouldn’t have had and they’ve made a lot of great memories. Now, if they’d stayed home, never went on vacation and never taught their kids to sail or ski or whatever and invested the money in an index fund, they might have $2,000,000. Unfortunately, most people wouldn’t do that. They’d spend the surplus on cars, clothes, concerts, cruises and any of a million other things. So, real estate is a great hedge against your own impulsiveness and self indulgence. I come across people everyday that have a nest egg because they bought a home. They’ve don’t have anything else. If you are a life long renter, you better be investing a lot elsewhere.

Hoophound ...

... seriously? ... your argument borders on social engineering ... mortgage debt forces totally irresponsible people to become responsible because they are forever tied to their designated plot?

Debt ties people to the community?

 

[Flipside]

The Myth about real estate always being the safest investment long-term should have popped along with the 2008 crisis. Homeownership is a hobby ... a very rewarding hobby for people so inclined ... but it is a hobby ... not an investment.

This

 

[Hoophound]

Hoophound ...

... seriously? ... your argument borders on social engineering ... mortgage debt forces totally irresponsible people to become responsible because they are forever tied to their designated plot?

Debt ties people to the community?

Bingo. Thats exactly what it does. It’s the only reason financially illiterate people often end up with a nest egg or a paid off place to live. Without it, they’d have nothing. Unfortunately, that’s the case with a lot of people.

 

[Hunt for 7]

If you did not invest any effort or expense in improving the property ... that 110% gain is fictional ... it’s not something you will be passing down to future generations.

Quite simply ... you don’t make a fortune solely because you bought something.

Buying is consumption, not investment.

For the record, I am the product of "generational wealth" ... sort of ....

It is not fictional…it is Florida and I get cash offers on a regular basis during season. But I did put in a pool after I bought it. I feel compelled to put my address down so you can Zillow it or whatever you do to come up with your opinion.

My first home in FL and I will use slightly modified numbers in value just because….it would be tacky not too. Bought my first home in FL in late 2012 at the bottom of the 2008 bubble you mention. Paid $270K. When I sold it in early 2021 after deciding not to keep it and rent it out for 3 times my monthly mortgage payment, I sold it for $580K.

Only real upgrades I painted it and installed hurricane windows which cost $65k for the whole house so you can take it off the sales number. But if you do that then everything needs to be considered.

I also invest both with a fiduciary financial money manager and have half my investment money in a brokerage account I manage.

I am not the product of generational wealth, rather I paid for my fathers and mothers funerals…..so I might have a different perspective than someone who grew up wealthy.

 

[Hunt for 7]

Hoophound ...

... seriously? ... your argument borders on social engineering ... mortgage debt forces totally irresponsible people to become responsible because they are forever tied to their designated plot?

Debt ties people to the community?

Ok I should have read your last few posts…I get it now….