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Old 06-19-2020, 07:13 PM   #21
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Smart move. We basically did the same thing 6 years ago. $59,000 / around a grand a year for taxes. 35 minutes from Charlotte. Put about $20,000 into it. We were recently looking at land to build new but decided to put an addition instead. Iím glad we opted out. Land is crazy expensive around here. Itís nice knowing you donít have a crazy high mortgage payment every month.



I want to add a set of stairs above the existing set, put two dormers each on the front and back of our attic roof with a balcony between the rear dormers, put down flooring, and have a usable attic.


Our house is nice but way too small for our family.


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Old 06-19-2020, 10:03 PM   #22
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Wow you guys have inexpensive houses! I bought mine 10 years ago and it was one of the cheapest in the city at 115 000$ for 945 square feet bungalow. A real beater! Now it's valued at 190 000$ just because of the inflation.

I did a lot of stuff, these houses were temporary houses for workers at the paper mill, they were built in a hurry and nothing was really measured, not one joist is equal to another. There weren't any insulation in the walls and only 4" in the attic, the furnace would run 24 hours and wouldn't even shut off all winter. It's all insulated now and I used over 90x 25 pound bags of cellulose. I rented an attic blower and modified it to fill the walls.

The most modern reno was the tiny bathroom. I need to redo the kitchen but I have to strengthen the floor first and now that I'm my own boss I don't have time to do stuff.

I had to reinforce the basement brick foundation it was caving in, I built steel beams every 4 feet. I have about 50% of the plumbing redone but you know... I redid 80% of the electricity because when the fridge turned on the TV would do free games!

Take a look at the pictures this super style back in 1952, the finished walls are still all there under the drywall and these were rough sawdust planks painted in pink! I'm very well located to get work supplies and I'm just hoping the crazy neighbor gets evicted. At least the city told the landlord to remove the guy's 1000 sheds he built. He's been taking them down for the last 3 weeks.


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Old 06-19-2020, 11:41 PM   #23
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Wow crazy differances skyronesa hose was 45000 and taxes 3500 thats a lot for the price of the house. my house taxes are around 4500 but its worth 650,000. but if I were purchasing a house here now for 650,000 it would be 8125 plus or minus a few hundred for tax .
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Old 06-20-2020, 12:14 AM   #24
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Wow crazy differances skyronesa hose was 45000 and taxes 3500 thats a lot for the price of the house. my house taxes are around 4500 but its worth 650,000. but if I were purchasing a house here now for 650,000 it would be 8125 plus or minus a few hundred for tax .





I get taxed on the appraised "fair market value" of something like 120-140k$ A house is only worth what someone is willing to pay. In our case no one will ever pay 120k$ as long as I live. I have a dirt floor basement, poorly insulated walls, and the septic system could fit under 3 service vans. Someone would have to be insane to buy my house at that price. Because we bought ours so cheap and the payments to our loan are so low the taxes aren't an issue.





The appraisal doesn't really have to be tied accurately to an actual average market value. So long as everyone gets appraised in the same manner we all pay roughly the same amount of taxes for the amount of house/property we own.






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Old 06-20-2020, 03:07 PM   #25
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Pretty much the same boat. I was the highest bidder on mine. 130K, a little high but the view makes up for it. As an added bonus I've got a 50 to 60' drop over my back fence LOL. Built in 82 , everything needs to be redone. Taxes are $1100. a year.
Bought a foam machine , already had a threader. Redid the chimney for the upstairs fireplace and added a wood stove in the basement. Gas was undersized .
After looking for some time , the same theme played out . Every house we looked at they wanted a premium for and had to be updated ! Everyone.
It's a small town , 12000 pop.
My wife wanted to be in town, I didn't. Oh well, I'm already facing a 75 min. commute.
I think it's good economic strategy as most of us are somewhat handy.
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Old 06-20-2020, 06:32 PM   #26
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....
It's a small town , 12000 pop. ....



LMFAO!! Buddy, you have no idea what small town is.



Our town is around 2000. The city we go to for waly world and homeless depot is like 20,000. A town near us has less than 1200 total and like 75 kids in the school with many combined grades. When I was a kid I barely even bothered flirting with local girls because most of the time I was related to them.



We have a term called "Dick cousins". It's when you and another guy have been with so many of the same girls you might as well be family.





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Old 06-20-2020, 06:35 PM   #27
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Wow you guys have inexpensive houses! I bought mine 10 years ago and it was one of the cheapest in the city at 115 000$ for 945 square feet bungalow. A real beater! Now it's valued at 190 000$ just because of the inflation.
.



Mine's only 1500 sq. ft. and I doubt I have more land. After adjusting for the currency exchange, location, and the fact you have city sewer and water, our houses don't differ much in price.






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Old 06-20-2020, 07:43 PM   #28
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LMFAO!! Buddy, you have no idea what small town is.



Our town is around 2000. The city we go to for waly world and homeless depot is like 20,000. A town near us has less than 1200 total and like 75 kids in the school with many combined grades. When I was a kid I barely even bothered flirting with local girls because most of the time I was related to them.



We have a term called "Dick cousins". It's when you and another guy have been with so many of the same girls you might as well be family.





.
My town is 1200 people and surrounded by several town of a couple hundred people. I work 40 minutes away in a town of 57000 people (college town). My town is only so many people because we are the county seat town so we have the sherifs office and court house and a few stores.

We bought our now 100 year old house 6 years ago for $75.000. Its 1400 sqf unfinished basement, 1 bathroom, 3 bedroom, an old garage so small you can't actually park a car in it. I sanded and refinished the hardwood floors completely remodeled the bathroom painted every wall and ceiling and also the kitchen cabinets. Put vinyl floor in the kitchen. And a bunch of other small things. Taxes are around 1100

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Old 06-20-2020, 08:49 PM   #29
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cant belive its been about 40 years ago we had a ballot measure to control tax increases called proposition 13 It prevents property taxes to increase above a certain percentage each year The downside is you can have 2 houses with same value and the taxes can be triple on one compared to other . I just cant get over 3900 in tax on a 45000dollar house my taxes would be 50,000 on my 650k home
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Old 06-21-2020, 12:29 AM   #30
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cant believe its been about 40 years ago we had a ballot measure to control tax increases called proposition 13 It prevents property taxes to increase above a certain percentage each year The downside is you can have 2 houses with same value and the taxes can be triple on one compared to other . I just cant get over 3900 in tax on a 45000dollar house my taxes would be 50,000 on my 650k home
I remember Proposition 13, they promised that our Apt Rent would go down
but it never did
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