I’ve spent some of the last couple of days talking to a local Realtor (someone I’ve known a very very long time and whose opinion I trust) about the value of our Bedford house were we to put it on the market. Our intention from the get-go was to live here then escape to the land of no taxes!
You’ve seen enough photos of our simple home. It’s a 1930s cottage basically, with all the things no one wants anymore. Low ceilings. Not much of an open concept floor plan. First floor master suite. Second floor bathrooms that need to be gutted and redone. Perimeter wooden fencing that is old and falling down. See where I’m going?????
Long story short, the house with so much needing to be done upstairs and not a floor plan that appeals to young buyers, added to the acreage to be maintained and a big property tax bill, the house is worth a good $500k less than we paid for it, losing money from the original purchase and losing all the money we’ve put into it over the years.
It’s not surprising news. I pay close attention to local real estate and see neighbors not sell for two to three years and when they do, they sell for a shockingly low price. So low that you have to stop and think – do I just give the damn house away?
Our oldest said he’d LOVE the house for his family but we had hoped to sell the house for enough money to buy a NC abode AND help him upgrade as well as helping the other kids upgrade their current housing.
Not gonna happen if we sell for $1.50. It’s a dilemma we didn’t foresee when we downsized to this house seventeen years ago.
It’s a perfect storm of bad timing. New York egregiously high property taxes. Young families not wanting to be in the backcountry. A floor plan not aligned with current trends.
Sigh. Got matches???? 😬😳