Quote:
Originally Posted by Bladewire
You're so damn smart I love it! Did you get your place for a bargain? You can PM me if you want, your story is interesting to me I've been looking to a change. $4,800 isn't bad at all for safe water and increasing property value  |
I don't consider putting in a new well as increasing a property's value any more than having a working hot water heater does. Without its functioning correctly your property is worth less its cost of replacement -- so it is retaining the property's value really. If you want to get technical, the depreciated values of roofs, driveways, siding, and electrical and plumbing obsolescence affect the appraisal value of property on a depreciated appraisal basis.
I bought this property for a special use 18 years ago -- residential variance on industrial property with allowed open storage on the lot. It was used as a small business that I no longer have. It's paid for, free and clear for years now, and I will move sooner or later. Hardly sitting on a *gold mine* so I am in no rush ... I bought it rather cheap as it was a non-conforming property. But there are lots of reasons property sells cheap: estate property, foreclosure property, fire damaged I have been involved in the purchase of all of those. You just need some cash and a motivated seller that will carry back a note on the deal
Or, all cash at your price.