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> You’ve made more than $500K Nope! This is all speculative until you need to "sell & move". If you want to move to another place in the same area, guess what,

by yawz 9y ago

> You’ve made more than $500K Nope! This is all speculative until you need to "sell & move". If you want to move to another place in the same area, guess what, you've probably made nothing. With all the taxes and fees that you have to pay on the sale price you can't buy the equivalent of your house. You can only capitalize on that appreciation if you move somewhere considerably cheaper. Not only that, the owner faces higher (in some cases much higher) property taxes due to increasing house prices, which is totally out of their control. I'm not suggesting that they're in a bad spot. It's just not the "jackpot" that your post is suggesting.

mbesto 9y ago
> With all the taxes and fees that you have to pay on the sale price you can't buy the equivalent of your house. So why on earth would someone want to sell their house and buy an equivalent house in the same area...?
- ghaff 9y ago
  In all fairness, I can see wanting to, say, downsize and move to a more walkable community relatively nearby. (Or, for that matter, move out of an expensive urban condo and move somewhere with more room--although that will harder in the Bay area specifically.) To the degree that market value of the two is similar, the financial hit will be substantial. But a lot of this is true with moving generally when you're living somewhere that's OK but isn't really optimal for you any longer.
- nitrogen 9y ago
  Switch schools or districts, change neighbors, move closer to work, change floorplans, move closer to family, etc.
  - sliverstorm 9y ago
    In short, what is important to people in their residence changes. Friend of mine bought a house he and his wife loved. Five years later he came to understand what owning a Dr Horton house means, and they wanted a better-built house.
  - mbesto 9y ago
    Totally, but if you are wanting something of more value than yes there is a price to pay for that.

by yawz 9y ago

mbesto 9y ago

> With all the taxes and fees that you have to pay on the sale price you can't buy the equivalent of your house. So why on earth would someone want to sell their house and buy an equivalent house in the same area...?

ghaff 9y ago
In all fairness, I can see wanting to, say, downsize and move to a more walkable community relatively nearby. (Or, for that matter, move out of an expensive urban condo and move somewhere with more room--although that will harder in the Bay area specifically.) To the degree that market value of the two is similar, the financial hit will be substantial. But a lot of this is true with moving generally when you're living somewhere that's OK but isn't really optimal for you any longer.
nitrogen 9y ago
Switch schools or districts, change neighbors, move closer to work, change floorplans, move closer to family, etc.
- sliverstorm 9y ago
  In short, what is important to people in their residence changes. Friend of mine bought a house he and his wife loved. Five years later he came to understand what owning a Dr Horton house means, and they wanted a better-built house.
- mbesto 9y ago
  Totally, but if you are wanting something of more value than yes there is a price to pay for that.