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I don't know very much about housing and construction, but this part set off a big red flag to me: We should have been forewarned when we were able to purchase
by lacker 6y ago
I don't know very much about housing and construction, but this part set off a big red flag to me:
We should have been forewarned when we were able to purchase the house for $45,000 less than the cost to build it.
Yeah, that should have been a forewarning about everything. Someone else knew that the house was a lemon, and they managed to dump it off on this unfortunate buyer.
- aidenn0 6y agoI don't know about Arkansas real-estate, but my sister has moved a couple of times in Missouri and Kansas and has never paid above the cost of building the house, and once paid much less. Structures are depreciating assets, and in many parts of the US the land does not appreciate enough to cover that up.
- lacker 6y agoInteresting, I guess all my real estate experience is in coastal-type areas where any sale priced below a previous sale is a red flag. TIL
- seanmcdirmid 6y agoSounds like most of Japan, where I think some structures (condos?) are separated from land appreciation, so this can happen even in a hot area like Tokyo.