Quote:
Originally Posted by SilentKnight
A lot depends on what area you're talking of...and other factors.
Is your daughter's husband a handyman and capable of doing work on the house to offset the depreciation? Are they thinking of perhaps renting out a room to a student boarder to help cover costs? Is it a bad house in a good neighbourhood worthy of fixing up and flipping for a profit?
|
Yeah I hear you, but doing the math, if you bought a 100k property for 93k that's gonna give you 1 year breathing room before depreciation makes it a even deal. Or a 100k house for 86k would give you two years breathing room. In either case if you look at national averages it looks bad everywhere. I was absolutely amazed when I googled this. Realtors are telling everyone that homes are going back up in value, Nothing could be further than the truth, and it's not getting any better.