A new story from Thumb and Hammer Home Improvement Podcast
While we're on the topic of money. Here, is one from the holy crap. Did we make the right decision file? Since we bought this house four years ago. Real estate values in our subdivision have gone. Crazy. They're actually went a little nuts a few months after we moved in and they showed no signs of coming down. How similar to ours, hit the market last year. It is the same style. Close, to the same square footage. The Lot may be a little bigger. some of the interior finishes are newer. But if you're looking for a comp for our house, this one fits the bill. Well. It was listed at just over. Fifty. Five zero fifty percent more than what we paid for our house three years ago. And it sold for about sixteen percent. Over ask. And it sold. Within a week. In fact, the houses in our subdivision are regularly listed at thirty to fifty percent more than they would have been for years ago. And hoses in our real estate market. Often sell for over the asking price. And nothing remains on the market very long. So. Now at least on paper. We have recovered the amount that we lost when we sold the money pit house. In four years. Maybe, in today's market, we would've been able to break even on the money pit. House. If we did the addition in the garage like we planned. But. We would have had to spend another hundred thousand dollars to make that happen. So we are definitely in a better position today that we would have been otherwise. Even in the middle of covid nineteen pandemic real estate values have been stable in our area and the houses that have hit the market have sold quickly. And if or when the bubble bursts. Going to be no worse off than we bought this house. Everything's coming up house. And while we're on the topic of the money pit house. The new owner has done what we were not able to do ourselves..