|
KYOON GRIFFEY JR posted:yikes, that is not what i am looking for in suburban new england For some reason they turned the existing garage into Living Room #2. Why? Why??? I’d contribute to MIL chat but you all know my thoughts on wealth inequality and where the US is going so I’ll spare you that suffering 
|
#
?
Apr 22, 2022 15:34
|
|
|
|
| # ? Jun 6, 2024 17:06 |
|
|
My aunt did that. Turned the garage into a “study” because… uhhhh welp can’t ask now as she is no longer with us.
|
|
#
?
Apr 22, 2022 15:38
|
|
|
DTaeKim posted:Generational wealth is hell. While I can handle this on my own without her, my wife doesn't want to estrange her only parent. I'm venting because I thought we had this sorted out and now she's adding elementary school requirements to this. I told the realtor to ignore her requests and my MIL is just pouting that my wife and I overruled her Let her pout and take her money. So glad I dont have to deal with that poo poo. The benefits of poor parents I guess! Holy hell getting a house ready for pictures and showings is hell. Im running out of closet space and spots in the basement to stack boxes to declutter the place.
|
|
#
?
Apr 22, 2022 15:44
|
|
|
I'm well aware. I can go get a house without her money and she knows it. Decorum is also poisonous and while I'm indulging her, I'm being very firm with my boundaries and I won't hesitate to kick her out if she pushes that.
|
|
#
?
Apr 22, 2022 15:44
|
|
|
i dont think either you, your wife, or your MIL are actually benefitting in any real way from the situation
|
|
#
?
Apr 22, 2022 15:52
|
|
|
Gotta agree with Motronic on this one that this is just a sample of things to come If she wants to buy a house let her buy a house, but this is not her decision to make and she shouldn't be giving unsolicited input at all if she's not going to be on the mortgage
|
|
#
?
Apr 22, 2022 15:53
|
|
|
Are you going to be living with her?
|
|
#
?
Apr 22, 2022 15:57
|
|
|
DTaeKim posted:I'm well aware. I can go get a house without her money and she knows it. Decorum is also poisonous and while I'm indulging her, I'm being very firm with my boundaries and I won't hesitate to kick her out if she pushes that. I feel your pain - my FIL is a general contractor in a different state with very different tastes from my wife and I, we have managed to find a happy medium where we listen to his advice but keep firm boundaries up, alignment with your wife is critical and I wish you luck.
|
|
#
?
Apr 22, 2022 16:01
|
|
|
I would consider her talking to your REA about requirements for your house as pushing a boundary, but that's just me.
|
|
#
?
Apr 22, 2022 16:01
|
|
|
It was a group chat and like I said earlier, I told the realtor to disregard what she said. And yes, my MIL wants to move in with us. We would opt for a smaller house if she wasn't but if she wants to foot the bill for a larger house and pay for it, she's welcome to do so. I still gave her a firm budget which she has agreed to for the most part. It's mostly her picking top tier school districts and me showing her how house-poor we would be if we go with her choice. It was limited to high schools which is why her suddenly mentioning elementary schools warranted a quick no from us. You can't afford to be that picky in this market and I showed her why that was unreasonable (her preferred elementary school reduces the inventory of one area from 15-20 to 5).
|
|
#
?
Apr 22, 2022 16:21
|
|
|
DTaeKim posted:It was a group chat and like I said earlier, I told the realtor to disregard what she said. Oof. Highly recommend buying a house with a separate in-law area if you’re considering this. Every single person I know who has done the in-law arrangement have regretted it. If I can take a guess, if you let her move in and the house isn’t in an elementary school district of her choice, I can almost guarantee she will give you a reminder every time you ever complain about the elementary school or a problem arises.
|
|
#
?
Apr 22, 2022 16:25
|
|
|
DTaeKim posted:my MIL wants to move in with us why
|
|
#
?
Apr 22, 2022 16:48
|
|
|
We are totally doing the separate arrangement and she's going to foot the bill for it. That's making it palatable on my end. Pollyanna: She doesn't want to pay property taxes in the Chicagoland area and she's in her early 60s.
|
|
#
?
Apr 22, 2022 16:48
|
|
|
First they complain about us living in their basements and not going out and buying expensive-rear end houses, then when we finally buy expensive-rear end houses they demand we let them live in our basements? loving boomers. Somewhat related: how do you know if a house is overpriced? I found this house recently, and its taxable value is about 595k, but it’s on the market for 775k. Does that mean I’d pay way more than it’s worth? Pollyanna fucked around with this message at 17:00 on Apr 22, 2022 |
|
#
?
Apr 22, 2022 16:54
|
|
|
Pollyanna posted:First they complain about us living in their basements and not going out and buying expensive-rear end houses, then when we finally buy expensive-rear end houses they demand we let them live in our basements? Get your realtor to do comps on similar houses in the market. They can at least try and find what other houses with similar features sold for in the area and break it down to a $/square foot price to see if the $775k is equitable or not. One problem is the market is crazy, so the house is worth whatever someone is willing to pay for it. The house we’re buying sold 2 years ago for $300k. They listed it at $349k, and accepted our offer of $390k. Prior to putting in an offer, my realtor ran the comps and the $349k was under the average price the comps came back at. It appraised at $400k. This markets a big guessing game.
|
|
#
?
Apr 22, 2022 17:08
|
|
|
you know that the house is overpriced because its in greater Boston
|
|
#
?
Apr 22, 2022 17:09
|
|
|
I'm looking to relocate to Pittsburgh from Florida. We own a home here that has grown severely in value the past 2 years, and want to buy a home in Pittsburgh. What are our realistic options for selling here and buying there? I'm aware of contingency sales, but those also seem to be a "lol" with the way the market currently is. We do need to sell first, since we need the money from that in order to buy a new place.
|
|
#
?
Apr 22, 2022 17:14
|
|
|
Pollyanna posted:Somewhat related: how do you know if a house is overpriced? I found this house recently, and its taxable value is about 595k, but it’s on the market for 775k. Does that mean I’d pay way more than it’s worth? Hey I know something about this due to years of municipal government work! So generally, tax appraisals should be lower than sale value. The value gap varies from location to location, in my area its usually around $20k or so at any given time but you can and do see smaller and bigger discrepancies in other areas. Are you able to visit the county site for wherever that house is located? Most places have a county land explorer where you can see tax values for properties. Check the neighbors for that house and see if they have just as wide gaps, or if that one is abnormal. If it is abnormal it could be because they havent updated the assessment for that property. Again different areas will update assessments at different intervals. Every place gets a tax assessment each year but some towns will be more thorough in their assessments at different intervals. Were I am at I can expect a true market correction every 5 years, with more general assessments each year. It could also be because the house had a poo poo ton of improvements done to it since the last assessment and the taxed value hasnt caught up. Some places are more strict on building permits than others. Where I am at, they are very strict, and any permit pull for a significant project would result in a new taxed value the next year. Also the market is just crazy and the "value" is whatever someone will pay for it on the open market, after which point your bank will require a sanity check appraisal to be done to confirm the price you paid.
|
|
#
?
Apr 22, 2022 17:19
|
|
|
DTaeKim posted:We are totally doing the separate arrangement and she's going to foot the bill for it. That's making it palatable on my end. Honestly I would just ignore folks man. Come and vent all you want. People do things for family and relationships all the time.
|
|
#
?
Apr 22, 2022 17:27
|
|
|
Yeah I don’t blame you here cuz I wouldn’t give up a chance to snap up some boomer money but I do feel bad for your sanity.
|
|
#
?
Apr 22, 2022 17:31
|
|
|
I don't know what the MA assessment system is like, but in NH reassessments are on a fixed schedule. I was just reassessed last year, which means it's already 20% lower than Zillow's estimate (which is not that much higher than my appraisal last month). E: oops, there was another page of posts E2: not a page, just a few carticket fucked around with this message at 17:36 on Apr 22, 2022 |
|
#
?
Apr 22, 2022 17:34
|
|
|
Sandwich Anarchist posted:I'm looking to relocate to Pittsburgh from Florida. We own a home here that has grown severely in value the past 2 years, and want to buy a home in Pittsburgh. What are our realistic options for selling here and buying there? I'm aware of contingency sales, but those also seem to be a "lol" with the way the market currently is. We do need to sell first, since we need the money from that in order to buy a new place. If you need to sell your current home to have the cash on hand to cover down payment and closing on the new home then you don’t have as many options. You could rent in Pitt and sell your current home and then buy but that has risks of not being able to find something for the cash you then have. Last year I bought in Phoenix and sold in New Hampshire and had cash on hand to close the new house while I still owned the first. I did have to buy only doing viewings via video which means you are really dependent on your agent not letting you walk into a money pit or being in an area that isn’t suitable. If you can travel down and look at places on the weekends that makes it a bit easier but it is a lot of travel.
|
|
#
?
Apr 22, 2022 17:38
|
|
|
KYOON GRIFFEY JR posted:you know that the house is overpriced because its in greater Boston Here’s something hilarious: my mom said it’s overpriced and should actually be worth $100,000 or less because it’s a double-wide. nwin posted:Get your realtor to do comps on similar houses in the market. They can at least try and find what other houses with similar features sold for in the area and break it down to a $/square foot price to see if the $775k is equitable or not. BaseballPCHiker posted:Hey I know something about this due to years of municipal government work! Good to know. Sounds like I’d need to compare it to the neighbors and historical trends. The realtor can handle that. As for market value, 
|
|
#
?
Apr 22, 2022 17:40
|
|
|
BaseballPCHiker posted:Hey I know something about this due to years of municipal government work! This is reasonable advice if it applies. I'm not sure you or most people realize just how different all of this can be based on state/county. For example: nothing in my county has been reassessed since 1972. If an addition was put onto a pre-72 home only the square footage of the addition is assessed at the rate of the date of the completion of the build. So tax value tells you what they through it was worth in 1972 for any home that is more than 50 years old....maybe... and only vaguely tells you what it was worth when it was built for everything newer. Unless it has an addition. Then is even more vague.
|
|
#
?
Apr 22, 2022 17:42
|
|
|
Greater Boston has a very simple rule which is if you’re buying, you get bent.
|
|
#
?
Apr 22, 2022 17:50
|
|
|
BigPaddy posted:If you need to sell your current home to have the cash on hand to cover down payment and closing on the new home then you don’t have as many options. You could rent in Pitt and sell your current home and then buy but that has risks of not being able to find something for the cash you then have. This is where we are at too, yeah. I was really concerned about it, but then realized that rent up there is close to half of what it is in Orlando lmao
|
|
#
?
Apr 22, 2022 18:15
|
|
|
Pollyanna posted:Somewhat related: how do you know if a house is overpriced? I found this house recently, and its taxable value is about 595k, but it’s on the market for 775k. Does that mean I’d pay way more than it’s worth? This varies wildly by location, but the short answer is that the tax assessment has zero bearing on the value of the home. Generally, tax assessments don't keep up with market value. Some places have mechanisms to try to make this happen by automatically reassessing the value on sale/transfer. Most often they attempt to mirror market value, but not always. In any case it's reactive, not proactive. In my area, state law only requires that counties perform assessments every 8 years (or less). They can do it more frequently, but they don't have to, and state law doesn't even say how they have to do it. The county tries to track market value when they do reassessments, but there's only so much they can do. They did a mass re-assessment a few years ago, because the market was crazy, and now it's insanely outdated because the market is even crazier. And no matter what, the assessment is just used as a means to try to make the tax proportional to home value. Whether your actual tax bill goes up or down depends on way more than the assessed value of your property.
|
|
#
?
Apr 22, 2022 18:20
|
|
|
Alright, good to know. Reason I ask is because I shared it with my parents and my mom said that it was a doublewide and therefore not worth more than $100,000 and after calling her insane I got to thinking about why it cost that much anyway.
|
|
#
?
Apr 22, 2022 18:26
|
|
|
Sandwich Anarchist posted:I'm looking to relocate to Pittsburgh from Florida. We own a home here that has grown severely in value the past 2 years, and want to buy a home in Pittsburgh. What are our realistic options for selling here and buying there? I'm aware of contingency sales, but those also seem to be a "lol" with the way the market currently is. We do need to sell first, since we need the money from that in order to buy a new place. BigPaddy posted:You could rent in Pitt and sell your current home and then buy but that has risks of not being able to find something for the cash you then have. Rent here is still fairly reasonable as long as you don't fall for any of the "luxury apartments" that have been built over the past 10 years or so. Those are a ripoff- like $1500 for a single bedroom and are definitely built very cheaply- you can rent a whole house here for that price. As far as buying a house here goes, it's just about as wild as everywhere else right now. As a whole, it's definitely cheaper to buy here than other cities, but you're still going to run into the same "beat by cash"/beat by a bid that's 50k over the asking price type stuff (at least that's the case for the 200-400k range currently). I'm not sure if any of that info helps or not- just thought I'd chime in as someone who's lived here for almost 20 years and bought their first house here last year (after about 10 rejected offers).
|
|
#
?
Apr 22, 2022 18:30
|
|
|
Motronic posted:This is reasonable advice if it applies. Whereas my home seems to roughly track similar places at all times.
|
|
#
?
Apr 22, 2022 18:33
|
|
|
DaveSauce posted:This varies wildly by location, Here in Texas, local appraisal districts are required by law to appraise houses and land for the market value on Jan 1st of that year. People are super super pissed off about their appraisals right now. On one hand they sure are happy to have an asset on the books at these great valuations, but when the tax man comes oh poo poo, my house is garbage and couldn't possibly be worth that.
|
|
#
?
Apr 22, 2022 18:43
|
|
|
skipdogg posted:Here in Texas, local appraisal districts are required by law to appraise houses and land for the market value on Jan 1st of that year. Sounds to me like people should leave TX for somewhere with cheaper taxes like California. Get Fox News to run a few headlines about it.
|
|
#
?
Apr 22, 2022 22:37
|
|
|
BigPaddy posted:My aunt did that. Turned the garage into a “study” because… uhhhh welp can’t ask now as she is no longer with us. Probably somewhat common, but I'm using half of my garage as a mudroom because a) my garage is tiny and two cars barely fit without bumping doors when getting out and b) my actual mudroom is a useless waste of space. It was previously a laundry room and is in a dumb location where you have to pass back through the rain/snow and get your feet wet after you've taken your shoes off. Easiest solution was to just add a cabinet for coats and and some shoe storage in the garage and park my teenagers' cars outside, but this sucks for them in the winter in New England. We've discussed converting the garage into living space with an actual useable mudroom and then building a new garage, but $$$$ and doesn't seem worth it given my kids' ages. Finally got the certificate of occupancy for finishing our enormous basement and can't wait to not have to see another contractor for a while. That was a long 8 months and tax man couldn't wait to come check it out.
|
|
#
?
Apr 23, 2022 00:22
|
|
|
DTaeKim posted:We are totally doing the separate arrangement and she's going to foot the bill for it. That's making it palatable on my end. Dude, I’m gonna echo what Motronic said and say you really should not be tying yourself to her financially for the rest of her life. I don’t know what sort of health she is in but 60s is relatively young and she could live another 20+ years. She is likely to become MORE of a pain in your rear end rather than less of a pain in your rear end over time. We almost bought a home from my in-laws that had a cottage out back with the understanding that we would get a sweetheart deal in exchange for letting them live in the cottage. We had at one point lived in the cottage prior to buying our home here, and it had gone pretty well despite some differences we have. For various reasons timing didn’t work out and we decided things like Medicaid look back periods could come back to bite us later on. My god am I glad we didn’t enter into any sort of arrangement with them. My mother in law’s health is declining and she needs more help. My father in law is deaf, old, and just not a fit caregiver. My wife tried to step in and hire a caregiver and some cleaners and all he’ll broke loose. My father in law has a history of aggressive behavior when my wife and her brother were kids but had (we thought) mellowed the gently caress out with age. Well, suddenly we were in conflict with them and one night he started yelling and screaming at my wife so badly that she left their house because she didn’t feel safe. She now refuses to go back there. Now, I’m not saying that something that bad is going to happen to you, but what you are getting a taste of right now is probably as GOOD as she will ever be because right now she wants something from you. If you go through this you will never escape your mother in law until the day one of you dies.
|
|
#
?
Apr 23, 2022 05:11
|
|
|
So, I bought a property with the eventual plan to have a relative move in, but we’ve lived with her before and it was fine, and it’s an entirely separate apartment (separate entrance, separate utilities, everything separate) and she’s not on the title or mortgage
|
|
#
?
Apr 23, 2022 15:19
|
|
|
The closest you should ever live to any relative is two towns over
|
|
#
?
Apr 23, 2022 17:21
|
|
|
Elephanthead posted:The closest you should ever live to any relative is two towns over you can live in the same town but it should take at least 30 minutes to travel between your residences
|
|
#
?
Apr 23, 2022 17:46
|
|
|
I know this is SA and all, but you can also have healthy relationships with family members, with clear boundaries without geographic distance serving as substitute... and live in childcare is nothing to scoff at. Also a lot of SA posters are at an age where you're going to have aging parents and will have to make some hard choices around care and independence But if you can't afford the house without the live in family member (and god forbid they're on your mortgage or title), then that's a bad idea
|
|
#
?
Apr 23, 2022 19:36
|
|
|
When it comes to my parents I am dreading the day that they demand to move in with me, it's going to be so hard deciding the exact tonal inflection to use when I laugh in their faces and even harder deciding which tall cliff to push them off of
|
|
#
?
Apr 23, 2022 21:16
|
|
|
|
| # ? Jun 6, 2024 17:06 |
|
|
Motronic posted:For example: nothing in my county has been reassessed since 1972. If an addition was put onto a pre-72 home only the square footage of the addition is assessed at the rate of the date of the completion of the build. This just made me check our old house in Delaware county, which forced through an assessment on all houses to "fair market value," including old ones that were previously grandfathered in. 8k/year in taxes -> $16k/year in taxes. lol.
|
|
#
?
Apr 23, 2022 21:34
|
|
