[QUOTE=deevergote;3264216][QUOTE=Crankshaft;3264201]
I hope it'll be a return on the investment. I got the house for a great price in 2003, but the value has dropped quite a bit. The area lost its country club and a fair amount of downtown business. The hospital down the street is in danger of closing, or becoming a mental facility. The police station moved to the other side of town. There are a fair number of vacant houses on neighboring blocks, and the unexpected deaths of a few of my neighbors resulted in the rushed, low-price sale of their houses (driving the average price of the area down.) I'm hoping to list for 30% more than I paid, hoping to sell for 20% more than I paid. Depending on how we stand when we're ready to move, I may sell for exactly what I paid... maybe even drop to 20% below what I paid just to get out from under it. By my calculations, if we can find a place in my target price range that doesn't have obnoxiously high taxes (as I do here... $4300 in property taxes each year for my tiny place!), then two years worth of savings, plus the bare minimum profit we could see from selling 20% under purchase price could still land us with a similar cost of living for a much larger house. If we can do that once I'm making good money again, we'll be in a very nice position indeed!
Come live next to me in Spring Tx, i pay about $2400 in taxes a year and as long as you are under 60 you can be the second youngest guy in the block. House next door is for sale for 110k but i would be surprised if anyone pays more than 65k for it, plumbing needs updating which is why my elder neighbor chose to default on the house.
I hope it'll be a return on the investment. I got the house for a great price in 2003, but the value has dropped quite a bit. The area lost its country club and a fair amount of downtown business. The hospital down the street is in danger of closing, or becoming a mental facility. The police station moved to the other side of town. There are a fair number of vacant houses on neighboring blocks, and the unexpected deaths of a few of my neighbors resulted in the rushed, low-price sale of their houses (driving the average price of the area down.) I'm hoping to list for 30% more than I paid, hoping to sell for 20% more than I paid. Depending on how we stand when we're ready to move, I may sell for exactly what I paid... maybe even drop to 20% below what I paid just to get out from under it. By my calculations, if we can find a place in my target price range that doesn't have obnoxiously high taxes (as I do here... $4300 in property taxes each year for my tiny place!), then two years worth of savings, plus the bare minimum profit we could see from selling 20% under purchase price could still land us with a similar cost of living for a much larger house. If we can do that once I'm making good money again, we'll be in a very nice position indeed!
Come live next to me in Spring Tx, i pay about $2400 in taxes a year and as long as you are under 60 you can be the second youngest guy in the block. House next door is for sale for 110k but i would be surprised if anyone pays more than 65k for it, plumbing needs updating which is why my elder neighbor chose to default on the house.
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