Quote:
Originally Posted by Golfer in Sanibel
Yes and no. The last home I built in Ohio had a recorded price which didn't include the lawn or landscaping or deck or patio or irrigation system or granite countertops, ect, ect. Really, I had $110K in it in addition to the price recorded for the home. The bond included or not is a non-issue. I's not even 10% of the price of a home. When you resell, the main determination of the value of your home will be what others, like yours, sold for in the previous 6 months. What you have invested in it is irrelevant.
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Any after market upgrades or expenses are, of course, not included in the original sales price. I was trying to keep the example simple, and not take such things into account. And yes, the market will determine the price you can get for your home on the resale market - the point remains that if you can get $200,000 with a remaining bond of $18K for example, you are better off than getting $200,000 after having paid off the bond. Also, I disagree that 10% of the price of the home is a non-issue, at least it is an issue for me.