I’ll start: a good real estate agent.
That commission may feel steep, but when they’re negotiating thousands in your favor, spotting red flags you’d miss, and getting you to closing without losing your mind, that fee makes total sense.
Along those lines, getting a perc test can be expensive. Putting in an access road or brush clearing is not cheap either, but all of those things work in favor of getting your lot sold after the work is done.
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Welcome to the forum @James1!
I think a good property inspection is worth the money, especially on older homes.
It’s anywhere from $400-800 for a thorough inspection, which can feel like a lot when you’re already hemorrhaging money on the purchase. But I’ve seen inspections catch foundation issues, electrical problems, and HVAC failures that would have cost me $15,000-50,000+ down the road.
Just last year, a friend’s inspector found knob-and-tube wiring hidden behind updated outlets in a 1920s house. The seller ended up crediting $12,000 at closing for the rewiring, turning that $600 inspection fee into a big win.
The peace of mind alone is worth it. Spending less than 0.2% of the home’s value to truly understand what you’re buying is a no-brainer. Plus, inspection reports give you serious negotiating power when issues come up.
Same goes for specialized inspections like sewer scopes or structural engineers when red flags appear. Better to spend a few hundred now than deal with a nasty surprise after you own the place.
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A good mattress is worth every penny. Not real estate or business related, but when you think about the importance of good sleep, it affects everything.
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Newer (newish) car. I don’t have time to be playing mechanic when I have a W2, two young kids, and this business to worry about.
For real estate, I have heard a lot of people say this about a good CPA. Not at that level yet though.
And last, don’t laugh, McDonalds
@JoeR what do you consider a ‘newish’ car? I drive an old 2003 Buick Rendezvous. It’s not cool, and I’m not exactly proud to be seen in this thing. However, the fact is, I don’t drive around much. It’s my beater car - the one I use for less glamorous work, and it doesn’t matter if it gets dirty or scratched.
Spending $50K+ on a new car would, frankly, be a waste for me, as it would spend most of its time sitting in my garage anyway.
At the same time, I’d love something ‘newish’ that I’ll never have to worry about whether it will start and work.
What do you think is a new enough car to check all of your boxes? I realize this is all subjective, but I’m curious what your standards are.
Basically what you said here. If you have that in a 22 year old car, I am super jealous. Did you buy new in 2003? Usually this only happens when the owner buys new and religiously maintains it. My definition of “newer” would be 10 years old or less. I have had bad luck with beaters being maintenance nightmares. My wife had a 2002 Jeep Grand Cherokee that developed a misfire. I diagnosed that thing for 2 weeks (weekends and after work) and my son who was pretty young at the time started to resent me for it. That’s when I realized my priorities needed to change.
I’m with you though. If you actually have a 22 year old car that gets you reliably from point A to point B, drive that thing until the wheels fall off. Just seems like every time I took a risk on an older car, it would do fine on the test drive, but then be nothing but problems shortly after I bought it.
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