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No, we got $3000 over our purchase price. a) Yes the $40K was optional, but we probably would have had to sell for $20k less had we not done the work. Bringing
by zimbu668 13y ago
No, we got $3000 over our purchase price.
a) Yes the $40K was optional, but we probably would have had to sell for $20k less had we not done the work. Bringing our "ownership tax" to ~$275 a month. Pretty close to the lower end rent premium you mentioned above.
b) It was absolutely a bad investment in straight financial terms. We did get the pleasure of a nicer house, for what it's worth.
Also not trying to be rude :)
- clavalle 13y agoSo, compared to what you would pay for rent, were you able to recoup any of the stored value you paid over the years? Compared to losing 100% of what you would pay for shelter every month, how did what you end up with compare? Not as an investment, but as a value store?
- zimbu668 13y agoMy back of the envelope calculations said yes for us, but had we been able to save $100 a month (on rent) for the 8 years, then it would have been no. Had we not done any improvements, or maybe just done the best(going from 0 to 1/2 bath on the first floor) then I think it would have been a clear, but not massive win. So for our second house we looked for a place with "no potential." The early 90's kitchen had already been updated, the basement is finished, etc. Edit: Clarification.