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[OM] Re: Welford Northamptonshire #6

Subject: [OM] Re: Welford Northamptonshire #6
From: Chris Barker <ftog@xxxxxxxxxxxxxxxx>
Date: Fri, 27 Aug 2004 18:57:07 +0100
Thanks Scott, it must have been my military colleagues' rented 
properties in other parts of the US.  I might venture an opinion, 
though, that many of the clapboard houses in Tampa, down towards the 
base at MacDill, were not worth keeping for too long; perhaps they were 
expecting the worst of the hurricane season ...

Chris

On 27 Aug 2004, at 18:19, Scott Gomez wrote:

>
> Most places here in the USA, houses appreciate. In parts of California
> it's not unusual to have situations where they double in value in only
> 12 months due to one thing or another... And there are situations here
> where people pay significant sums to buy a house in order to *tear it
> down* because they wanted the lot and are going to build new. When you
> figure that the average new single-family detached home here in SoCal
> goes for $225,000 and up in outlying areas, and much, much more than
> that in so-called "desirable" areas, it can make sense to pay a couple
> of hundred thousand to buy and tear down an existing older place and
> build a new one that will instantly be worth over half a million.
>
> Tax depreciation of a house here in the USA is most often tied to it
> being used as a rental, I would think. In other words, one that is 
> *not*
> owner-occupied. Otherwise, if one lives in a house that appreciates
> significantly, there can be a significant tax bite at sale time,
> depending how one uses the money realized.
>
> There can be lots of other complicated tax crap regarding houses, here,
> too.
<|_:-)_|>

C M I Barker
Cambridgeshire, Great Britain.

+44 (0)7092 251126
ftog at threeshoes.co.uk
http://www.threeshoes.co.uk
http://homepage.mac.com/zuiko
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