Quote:
Originally Posted by Toymeister
You do get a portion of a paid bond back much in the same way you get other home improvements back. Two homes, otherwise identical, will sell for different amounts for say an enclosed lanai. Two identical homes will not sell for the same if one has a paid bond.
The increased sale amount will not be comps + bond balance just as the enclosed lanai cost is not 'paid' .
I place the savings/ increased sale price at a point that the home must be kept in 7-10 years to break even.
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I asked several real estate agents who have been around for awhile and know the market whether it makes sense to pay off the bond and they all said not worthwhile unless you are sure you will stay in your home for 10 years or so.
In our case we are here less than a year and not 100% sure this will be our only home so not paying off bond at this time.