Rupert! - What were you thinking?

[bboyminn]

--- "Geoff" <gbannister10 at ...> wrote:
>
> 
> 
> ---  "bboyminn" <bboyminn@> wrote:
> >
> > ---  "Geoff" <gbannister10@> wrote:
> > >
> > > ...
> > > 
> > > Geoff:
> > > ...
> > > 
> > > We live in a house which is 74 years old and the state of the
> > > pointing is excellent - without any work having been done on 
> > > it in that time.
> > >
> > 
> > bboyminn:
> > 
> > Yes, but keep in mind that Rupert has a brick house that is
> > over 200 years old, and it is not really a common house; it
> > is a very large mansion. 
> > 
> > ...
> 
> Geoff:
> I lived in London for 45 years ...I have a pretty good idea 
> about weather  and conditions of houses.
> 
> What you possibly see on Google Maps - ... - is the fact that
> a lot of companies and owners re-point the brickwork for 
> cosmetic reasons, not necessarily for structural reasons.
> 
> ...


bboyminn:

Yes, but you don't repaint a wooden house to create structural
integrity, you do it for cosmetic reasons. However, in both
re-pointing and re-pointing a house, there is an implied
preservation of the structural integrity. If the cement between
the brick become too neglected, it means damage to the house 
and potentially to its structural integrity. Just as if a house
is left unpainted, the wood start to deteriorate and the great
the likelihood of internal water damage from leaks.

So, yes, in the short term, painting and pointing are cosmetic,
but in the long term the are necessary maintenance to preserve
the building itself. 

But my central point is that a brick house is not maintenance
free. It does require maintenance, and that maintenance requires
money.

Again, many many people who are newly rich, lottery winners for
example, are bankrupt in 5 years, because they look at the 
initial cost, but fail to look at the on-going cost of owning 
large mansions and driving expensive cars. I think I can 
actually buy a car for the cost of an oil change on a Rolls 
Royce. 

A big barn like Rupert's new house, is going to cost a king's 
random to heat and cool. He is going to have to pay someone a
living salary plus benefits to maintain the grounds. Then, what
do you suppose the cost of furnishing all those rooms is going 
to be? Not cheap you can be sure of that. 

What I'm saying is that buying a house, is a lot easier and
cheaper than owning a house. Owning a house is an endless drain
on finances. For example, what do you suppose it is going to
cost to have a new roof put on a huge mansion like that. In
their lifetime, it is not uncommon for a house to need three 
or four new roofs. 25 to 30 years is about the most you can
expect out of a normal shingle roof. 

At one of this houses, he is already adding a new addition. New construction cost are through the roof. My sister added a new
room to her house and the new room cost as much as the rest of
the house, and this is a relatively new modern house. 

Now Rupert may have a brilliant and lucrative career ahead of 
him, but I don't think it is wise to count on that until it 
happens. Spending presumed future revenue is a sure way to doom.

I think Dan has moved much more wisely. He has three properties,
but they are part of building complexes, or as we would call them
condo complexes. You pay a yearly maintenance fee to the condo
association, and they are responsible for all on-going maintenance.

When you are not there in a flat or condo, you don't need to
heat or cool as it is extremely unlikely that not doing so would
cause any damage. That not equally true of a house. A house must
be heated to a limited degree in the winter to prevent the pipes
from freezing and busting, which in turn can cause tremendous
damage to the property. 
 
Again, I certainly wish Rupert the very best, I just hope he
has a workable plan. I just hope he has taken all the enormous
miscellaneous expenses into account that come with owning
properties like this. Because I don't doubt that the on-going
cost is going to run into a very substantial 6 figures per year.
Several of us could easily live comfortable off his basic 
housing expenses.

And, maybe he does have a plan. Maybe he plans to fix up and 
turn one of the properties for a profit. There are a lot of 
things that I don't know. But on the surface, it looks to me 
like he has bitten off a lot more than he can chew in the long
run.

Steve/bboyminn