Random house hunting questions

[Mrbloodworth]

Currently looking at buying a house. However when we went looking at the front yard, we noticed a small black dome-like-cap covering a downward ( 90 ) pointing, maybe 6in, round pipe ( Plastic ) right up against the house, it had standing water in it.

Any guesses as to what it is?

[shiznitz]

The pipe is coming out of the ground and has a dome cap on it?  I don't quite understand your "down (90)" description.

[Merusk]

Is it slab on grade?  Sounds like a sewer cleanout they didn't put a proper cap on.

[Mrbloodworth]

I'll get a picture later. Its simply a pipe sticking out about 2in from the lawn with a black plastic cap on it. Tucked right up against the front wall of the house. It goes straight down, 90 degrees from the lawn. Id say its about 6-8 inches round. Made of some sort of plastic piping and cap.

Is it slab on grade?  Sounds like a sewer cleanout they didn't put a proper cap on.

House has a crawl space, plot is level with the road and surrounding area. I was thinking well cap maybe, but plastic would be odd. Sewer clean-out, but, that close to the house?

It has standing water in it, its smack in the center of the house in the front yard, nearly touching the brick.

[Mrbloodworth]

Also, on the city listing it says:

Special Condition = Reservoir Protection without Buffer

I'm sure that term varies from area-to area, but anyone know what that may mean? We are close the the city reservoir and a small waterway. The flood zone is listed as 100 year.

[Salamok]

My sewer clean out is at most a foot from my foundation.

[Mrbloodworth]

Perhaps Merusk is right. I'm not used to seeing a clean out made of plastic pipe, and so large an opening. The pipe looks like something you would use for landscaping drainage, Corrugated Plastic pipe type.

[Merusk]

Yeah the first cleanout is typically right at the house because you can hit from there to the sewer invert from it.  Modern plumbing is done in plastic because it's cheap and durable.  All my sewer pipes are plastic until they hit the main sewer. 

Though they should be solid pvc or cast iron, though not corrugated because you don't want effluents sitting there in the ridges.  Corrugated was always for footing/ foundation drain or stormwater.  So yeah, must not be a cleanout.

My civil background is a little less hefty than I'd like, but reservoir protection means you're in the watershed buffer zone. You're going to have a nightmare trying to do anything on your land because you'll have to go through the Army Core of Engineers.

[01101010]

Definitely need a pic but it sounds like a catch basin. Plastic corrugated is drainage so that is what leads me to believe it is a catch basin.

[Yegolev]

Shouldn't you be squatting in a field and learning carpentry in order to build a cabin before you starve to death?

[Mrbloodworth]

wut.

[Soln]

Wurm dig

[Furiously]

Currently looking at buying a house. However when we went looking at the front yard, we noticed a small black dome-like-cap covering a downward ( 90 ) pointing, maybe 6in, round pipe ( Plastic ) right up against the house, it had standing water in it.

Any guesses as to what it is?

Could also be a whole house shutoff valve for water.

[01101010]

Currently looking at buying a house. However when we went looking at the front yard, we noticed a small black dome-like-cap covering a downward ( 90 ) pointing, maybe 6in, round pipe ( Plastic ) right up against the house, it had standing water in it.

Any guesses as to what it is?

Could also be a whole house shutoff valve for water.

If so, they better get that leak fixed since there is standing water in it. And usually valves aren't under domes... but stranger things and all.

[Mrbloodworth]

https://www.dropbox.com/s/dd0y3y8u9c3co01/thehole.jpg

[Trippy]

Fixed the title cause every time I saw the original I thought you were talking about hunting the book publisher.

[01101010]

https://www.dropbox.com/s/dd0y3y8u9c3co01/thehole.jpg

Access to the french drain system? Perhaps you could ask the home inspector or homeowner?

[Mrbloodworth]

The house is being handled by an attorney, and the owner has died. So, I may have to wait for the home inspection. But, on Wednesday, we make submit our bid.

[01101010]

Well good luck mate.

[Numtini]

I can ask our building commissioner if he's in tomorrow

[MahrinSkel]

Could be a drainage sump of some kind (although those are usually in the basement floor).  You drill a hole, stick a large pipe in it to keep it from filling in, you put a pump in there (why it has to be a wide pipe) that automatically kicks in when the water rises and drains it.

--Dave

[Khaldun]

French drain drainage would be my best bet. If there's a French drain in the basement.

But the cap is the real puzzle. I don't get that.

[01101010]

French drain drainage would be my best bet. If there's a French drain in the basement.

But the cap is the real puzzle. I don't get that.

Exactly. Usually they are grated to allow water in. Might have been a quick fix - had the cap and plopped it on.

[Fraeg]

Just moved into my first house.  Just dropping in to say good luck!!

[Mrbloodworth]

Thanks, this is fucking nerve racking. So many cards in the air, so many could fall. I'm trying to tell the Scottish in me that this is an investment, not a huge mountain of debt.

[WayAbvPar]

Don't be afraid to keep looking. Tons of houses on the market, and the looking is the fun part. The signing mountains of paperwork, actually paying the mortgage, and being on the hook for every single little fucking thing that goes south may sound glamorous and fun, but sucks ass 

[Yegolev]

I agree completely and I'll mention that you don't want to deal with water or moisture issues at all.  Buy a dry house.

[Merusk]

x10.

I'd never buy near water.  Great to look at, fantastic to visit, I will not own a home on or near it, ever.  But that's me, I get the attraction it's just not worth the potential problems to me.

Don't be afraid to keep looking. Tons of houses on the market, and the looking is the fun part. The signing mountains of paperwork, actually paying the mortgage, and being on the hook for every single little fucking thing that goes south may sound glamorous and fun, but sucks ass 

I find this completely outweighed by my ability to do whatever the fuck I want to my home.  "Hey, I could use some shelves."  "Hey, this room would look better in xyz color"  "Hey, let's plant some trees and petunias this year."

Granted, I didn't buy an old house with old house problems but the next one will be at least 30 given the area I'm headed toward.  It'll still be worth not having to deal with landlords, rent raising and fighting about what should or shouldn't be fixed. 

The bonus being in the last 10 years my monthly has only gone up $30 because of tax increases/ assessments. I'm still paying less than I did for a 2-bedroom apartment in 2003, even after several $300 A/C or Furnace repairs.  I'll never understand the permanent renters I know.

[Torinak]

Thanks, this is fucking nerve racking. So many cards in the air, so many could fall. I'm trying to tell the Scottish in me that this is an investment, not a huge mountain of debt.

Housing is a consumption choice, not an investment. That said, I think it can be a very worthwhile consumption choice, for many of the reasons already mentioned.

Good luck with the buying experience and all of the post-purchase fun!

[Paelos]

Housing is sort of an investment, but it's usually a bad one. There are obvious exceptions, and the best way to avoid losing money on an investment deal is paying in cash. Obviously, very few can afford to do that.

Where things start to get sideways on homes is a lot of hidden costs. There's the obvious things like mortgage and repairs. Both renting and owning have utilities. Where things can get expensive is the taxes, the insurance, an HoA if you have one, and landscaping. Taken over a monthly period, along with the repair costs and the total mortgage interest paid over the loan, you can look to see which is more expensive between owning and renting. I'm not even referring to the equity in the house and the market fluctuations either.

[Merusk]

Buy small, trade-up, never pay PMI, (If you have to pay it the house is too big for you.) and for chrissake get a home inspection to avoid major repairs you can't handle.  If you're tripling your rent the house is WAY too big for you. (I know *so many* people who did this.)  If the place will need a new heater/ roof in 3 years and you can't drop the $5-$25k then it's not the place for you no matter how "perfect" it feels.

Even though I bought in 2003 I'll be making money on my house when it sells and my mortgage is only a few thousand over 100k.  It's like any other financial transaction, be smart about it and don't go from the gut/ heart. 

Yes you'll get in fights with your S.O. if they've fallen in love and "MUST HAVE" that place that doesn't work, but it will be better in the long-run to pass it by.

TLDR: People let emotion run-wild when buying houses. Don't.

[Paelos]

Well there's two kinds of "I made money on my house." The first is that they sold the house for more than they paid in principle on the closing statement.

The second is actually making money, which is adding up all the expenses, taxes, insurance, and mortgage payments, closing costs, commissions, fees, and remaining principle on the mortgage. Very few people actually fall into category #2. That's usually a confluence of good timing more than investor savvy.

[Selby]

I'll never understand the permanent renters I know.

I'll gladly buy a house again... if I can manage to get a $250k down payment (25-30% required) and pray that the bank will look at me over the investment firms and banks that are paying cash well over asking price.

[MahrinSkel]

EDIT: Never mind, more for Politics.  Just get used to competing with the hedgies, it's going to get worse.

--Dave

[Merusk]

I'll never understand the permanent renters I know.

I'll gladly buy a house again... if I can manage to get a $250k down payment (25-30% required) and pray that the bank will look at me over the investment firms and banks that are paying cash well over asking price.

I was thinking local and the majority of the country, not the fringe cases on the coasts.  Sorry if you choose to live in one of those locales, but you knew what you were getting in to.

EDIT: Never mind, more for Politics.  Just get used to competing with the hedgies, it's going to get worse.

I think I know where you were going and yes, it is. The Millennial and younger X'ers seem ok with that because they haven't thought it through.  Upside is we've still got land to build on so it's not going feudal any time soon, Mr. Tinfoil. 

Well there's two kinds of "I made money on my house." The first is that they sold the house for more than they paid in principle on the closing statement.

The second is actually making money, which is adding up all the expenses, taxes, insurance, and mortgage payments, closing costs, commissions, fees, and remaining principle on the mortgage. Very few people actually fall into category #2. That's usually a confluence of good timing more than investor savvy.

Closing costs commissions, etc are sunk costs you need to be aware of, yes. It's money you have to assume is gone and unless you're doing something dumb like flipping every 3-5 years aren't a real problem.  I've always looked at it as a larger security deposit, which is about 8% of annual cost of rent.  I never got those back no matter how clean and tidy the place was after I moved out.

Taxes and insurance are something renters also have to deal with and I know you don't think the homeowner/ building owner is just eating the taxes.  My renter's insurance was about the same per year as whole-house because I didn't underinsure my possessions.

You also omitted the cost of moving frequently from rental.  Sure, you can rent the same place for a decade but chances are you won't, or rent will rise to the point you can't.