Has it really been 30 yrs.?

[ovrszd]

Have only owned one house. Been in it for 39 years. 20A land for $10K. House cost $31K to build.

Now considering building a new house on a separate farm. Get all giddy thinking that I can probably get $225K for this property....... But wait....... I'm going to spend that inflated selling price to build a comparable house at the farm. If I'm lucky I can pull this off without going back in debt...... Did that inflation truly gain me anything????? Only time this type of inflation gains you anything is when you don't reinvest that money into real estate...... My kids don't want me living with them..... So I guess I'll just feel fortunate to do it all with no debt.

 

[oosik]

The real bugaboo can be the capital gains tax. Have absolutely no idea what the situation with it is now. Made out just fine when we sold in AK and built down here.

 

[Oldoak]

It's all relative. How much were we all earning way back when we bought our first homes?

Our first house in 1973, $17,000.

Water well drilled to a depth of 325 Ft, well casing, submersible pump, wire, all plumbed to the pressure tank in the basement for a grand total cost of $1,900. And that included the labor.

We just replaced that original pump and well pipe this past December. Total cost $2,600. And the new pump is only guaranteed for 5 years.

 

[PILOON]

It's all relative. How much were we all earning way back when we bought our first homes?

Our first house in 1973, $17,000.

Water well drilled to a depth of 325 Ft, well casing, submersible pump, wire, all plumbed to the pressure tank in the basement for a grand total cost of $1,900. And that included the labor.

We just replaced that original pump and well pipe this past December. Total cost $2,600. And the new pump is only guaranteed for 5 years.

That's like septic systems.
Back then the going rate was $3000. and today figure on $20,000.
And we could dig and pour our own but not now. Soil perk tests, surveys all add up. and , again permits.

A well? that's another $20,000 plus surveys and permits.

Called inflation!

 

[teg]

...Back then the going rate was $3000...

Our septic was $3500, 2 years ago... I could not afford to live where some of you guys live.

 

[ovrszd]

Our septic was $3500, 2 years ago... I could not afford to live where some of you guys live.

I can't afford to live where it costs $3500 to put in a sewer system.

 

[PILOON]

It is all about environmental hype.
If this is good then that is better and to CYA they mandate professional tests and reports etc.
Atherwise said, everything is black or white and grey does not exist.

You might be on 100 acers that U own and build dead center but you need a survey to prove that you are 50 ft from your neighbors well ($200.00) and then if 5 gals of water is absorbed in 2 mins in the soil you need a soil engineer to certify the fact (another $200.).
And I forgot the surveyor in all that, another $700.
Now then, where is the neighbors well? and his septics?

But the taxes still go up. Mine just rose 12.5 %. (I'm contesting but to do so costs $75.00)
Believe I'll win as neighbors went 2.5% and we are all in same zone. Daughter is one of the 2.5's and she did big renovations while I have done nothing but paint.
LOL, they seem to not believe neighbors talk to each other.
I iniated procedures just this PM!

 

[Oldoak]

I can't afford to live where it costs $3500 to put in a sewer system.

$3500? That's cheap. Ask around what a "sand mound" septic system costs today.

 

[teg]

I can't afford to live where it costs $3500 to put in a sewer system.

Before that we put in two outhouses... to some degree, I miss those days... and the price was right!!!

 

[Oldoak]

Before that we put in two outhouses... to some degree, I miss those days... and the price was right!!!

Cold seat in the Winter and not too sweat smelling in the Summer. Thank God for hydrated lime.

Can you imagine the "millennials" having to use them today? :shocked: