Quote:
Originally Posted by BettyCrocked
Ditto this. When I was looking at houses last month, I didn't even click the link on houses that didn't say "bond paid".
You may not recoup it in price, but you sure will get more looks and offers.
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That makes a lot of sense. You may not recoup all the bond but you will recoup some for sure, and will get more looks, hence better chance of selling. Not all houses sell equally as quickly or even at all, despite what some on this forum will try to tell you.
And that bond payment each year adds up quickly, but the bond balance does not drop proportionally. For example, our house, purchased 7 years ago, had a bond balance of almost $16K. Adding up the yearly bond payments, which are NOT legally deductible on taxes, we would have spent $8600 and yet the bond balance would only have dropped $1700. We paid ours off, and I'm glad we did.