Quote:
Originally Posted by stevieray
I bought a cookie cutter house in Colorado back in 2000. 150k..probably cost them 80k to build.
If I would have paid that home off, it would've cost 360k total.
Today, that twenty three year old, 80k house in now "worth" 368k.
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Gee, it’s almost like the value of real estate increases over time. What it cost to build a home has **** all to do with current value. My grandparent bought 275 acres of land in 1936 for $13,000 and built a two story home on the land for an additional $32k. In March, the family trust sold that house for 380k and the land for 3.2 million. Were we supposed to sell it all for 45k? By the way, we had been paying taxes on the accurate values of the property.