Homeowners: I own 8 different power saws, primarily to attract a mate.

The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > Homeowners: I own 8 different power saws, primarily to attract a mate.

gtkor: Feb 21, 2011

Kritzkrieg Kop posted:

I keep reading and hearing about how a sunroom is a bad investment and a bad idea, especially for resale value.

I get that a room you can only use a few months of the year unless you want to burn money and heat the poo poo out of it isn't appealing. But what about a four-season solarium? They seem to be a lot nicer and they're insulated therefore more useful. I'd definitely get more use out of it than a patio in an Eastern Canadian climate.

What factors determine whether this 30-40k investment would be worth it for market value? Do they really turn away a lot of buyers?

One thing that often comes up with additions like sunrooms or solariums is the local governing body not updating information about the property or not including it in the taxable square footage of the home.

In terms of resale value, anything that does not have a permit that was added on, or anything that is not heated and finished to the same standard as the rest of the dwelling (covered porches, florida rooms, sunrooms, solariums, etc) may not be included in the Gross Living Area by the appraiser when your home is for sale. This is allowed per the Uniform Standards of Professional Appraisal Practices that everyone is supposed to followed. Long story short, you assume you are adding space to your house, and nobody else really thinks so.

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# ¿ May 8, 2024 05:45

gtkor: Feb 21, 2011

Doing a very quick search my initial thought is 100 a night might be high siding it a little bit. In terms of the legal issues if you are in an unincorporated area you should be fine. Anything that is permanently affixed could theoretically trigger a property reassessment, but it sounds initially like you are looking at RV's which shouldn't really cause many alarms.

I'd just be worried upfront you are not going to be getting 100 a night for it, just given what offerings are available at that price range.

https://www.airbnb.com/s/Morrison--CO?price_max=100&ss_id=l4vje8o5&s_tag=PFQa5fcP

Right now there are 300 plus 100 dollar a night or so offerings in that area, not sure why a tiny house or RV would stand out going off a quick perusal.

# ¿ Jun 10, 2016 17:50

gtkor: Feb 21, 2011

Jealous Cow posted:

So I was going through some of my closing docs from my purchase a few years ago and noticed something weird.

The appraisal came back about $30k above the sale price, but the bank didn't submit that appraisal for underwriting. They submitted another with a different date that came back at exactly the sale price.

I had no knowledge of a 2nd appraisal being done.

I wonder what that was about...

We sometimes order second appraisals when we fear the first appraisal is deficient or represents a potential buyback risk (usually if there is an inflated value). In those cases for us at least, we make sure the borrower is aware the second appraisal is being done (usually because it adds turn time).

Another time something like that could happen is if there was a potential property flip that occurred. Those guidelines vary not only from lender to lender (but at different times as well), so if you bought a home that was recently sold to someone else, that might have caused it as well.

# ¿ Jun 30, 2016 16:59

The Something Awful Forums > Discussion > Ask/Tell > Business, Finance, and Careers > Homeowners: I own 8 different power saws, primarily to attract a mate.