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Houses and Taxes--What would you rather??
I need some outside opinions on this topic of houses, size, and property taxes...
Option 1: A 5bd, 2 bath fully dormered home. Move in condition- the only future changes would be to possibly update 1 bathroom (minorly) and add an above ground pool b/c the taxes are currently about 11,500!
Option 2: A 4bd, 2 bath undormered house. Has a inground pool already, however changes would be to dormer the upstairs master. Taxes are 9K.
Basically I'm kinda afraid of the taxes and them increasing! Both houses are priced about the same. Low 400's..so with hope I'd want to shoot for below 400k.
What would sound better to you??
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Posted 4/12/10 11:08 AM  |
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Mrs213
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Member since 2/09 18986 total posts
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Re: Houses and Taxes--What would you rather??
We are trying to go with a less expensive home that way we don't really have to worry too much about the taxes. Looking to buy something with taxes under $6k. I think it all depends on the house. If we find something we love and the taxes are a little higher then so be it...
eta - don't forget once you start adding addtions your taxes will go up!
Message edited 4/12/2010 11:12:14 AM.
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| Posted 4/12/10 11:10 AM |
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Re: Houses and Taxes--What would you rather??
That what I'm afraid of..the lower tax house would end up being close to the higher priced one..then us being upset that we should have just went with the already high prices b/c we wouldn't add on in that house---
I wish for the power of predicting the future
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| Posted 4/12/10 11:21 AM |
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Mrs213
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Member since 2/09 18986 total posts
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Re: Houses and Taxes--What would you rather??
Posted by MrsTut
That what I'm afraid of..the lower tax house would end up being close to the higher priced one..then us being upset that we should have just went with the already high prices b/c we wouldn't add on in that house---
I wish for the power of predicting the future
I would just go with the more expensive home then if thats how you feel. Because once you start adding renovations you just never know, and if you want to add a pool that will make the taxes go up later on too. I personally wouldnt mind paying a little more for a house if it already had everything i needed...
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| Posted 4/12/10 11:23 AM |
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Nifheim
allo
Member since 1/09 5476 total posts
Name:
Jennifer
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Re: Houses and Taxes--What would you rather??
the problem is if you buy the house with work needed, you do it then your taxes will go up. You are at the highest at this "expensive tax" house and what you can do now is apply for star, grievance your taxes and sit back and not worry about doing that work.
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| Posted 4/12/10 11:44 AM |
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jen919ifer
LIF Adolescent
Member since 7/08 803 total posts
Name:
Jennifer
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Re: Houses and Taxes--What would you rather??
You taxes don't increase by moving up, only by moving out. So if you were to dormer your fine, but add an extension where your taking up more property means more taxes, so I picked #2
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| Posted 4/12/10 11:59 AM |
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JandJ1224
Member since 6/06 5911 total posts
Name:
Jannette
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Re: Houses and Taxes--What would you rather??
I would go with the bigger home, the expense to dormer would be very high. You would most likely be able to greive taxes, you can just use your appraisal from purchase.
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| Posted 4/12/10 12:06 PM |
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DiamondGirl
You are my I love you
Member since 7/09 18802 total posts
Name:
DiamondMama
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Re: Houses and Taxes--What would you rather??
Once you add the dormer the taxes will go up anyway so I say bigger house
Message edited 4/12/2010 12:47:56 PM.
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| Posted 4/12/10 12:47 PM |
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JldDolphin
Member since 1/07 6929 total posts
Name:
Jen
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Re: Houses and Taxes--What would you rather??
Posted by jen919ifer
You taxes don't increase by moving up, only by moving out. So if you were to dormer your fine, but add an extension where your taking up more property means more taxes, so I picked #2
Taxes are based on liveable square footage, so the dormer would mean that the taxes would go up. If you change the footprint to your home, I believe your taxes go up more because you are added new foundation to your property. Someone correct me if I'm wrong.
ETA: I would pick option #1.
Message edited 4/12/2010 1:46:37 PM.
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| Posted 4/12/10 1:46 PM |
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JDubs
different, not less
Member since 7/09 13160 total posts
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Re: Houses and Taxes--What would you rather??
option #1... i am going through this now.. we are going to end up paying the same amount in tax but at least we don't have to do any work to the house. and like someone else said, your tax will go up with any expansion anyway.
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| Posted 4/12/10 3:38 PM |
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LAMGAJ28
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Member since 10/05 6039 total posts
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Re: Houses and Taxes--What would you rather??
I'd go with option #1 as well. You can never have too much space. And you'd be doing work to the second option so for me, the first option will make more sense.
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| Posted 4/12/10 3:40 PM |
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jen919ifer
LIF Adolescent
Member since 7/08 803 total posts
Name:
Jennifer
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Re: Houses and Taxes--What would you rather??
Posted by JldDolphin
Posted by jen919ifer
You taxes don't increase by moving up, only by moving out. So if you were to dormer your fine, but add an extension where your taking up more property means more taxes, so I picked #2
Taxes are based on liveable square footage, so the dormer would mean that the taxes would go up. If you change the footprint to your home, I believe your taxes go up more because you are added new foundation to your property. Someone correct me if I'm wrong.
ETA: I would pick option #1.
Oh wow, I was told they don't go up as long as you build up, but I have never done it so I am going by hear say
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| Posted 4/12/10 3:54 PM |
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Re: Houses and Taxes--What would you rather??
thanks everyone I really appreciate everyones input :) We are still searching, but like to narrow things down since we like them both
thanks!
Message edited 4/12/2010 8:51:11 PM.
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| Posted 4/12/10 8:50 PM |
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