Sold $1M, Listed $1.3M, took 10 months to sell

[Anta Assamey]

Naaku telisina okadu...same community and same size house last year august lo 1.3 mill ki konnadu...

[Joker_007]

54 minutes ago, Chatgpt2 said:

How abt rent money? They stayed for free, 4k * 12 minths * 4 years = ~ 200k

Then you need to count the expenses incurred per month to maintain the house, like Home Owners Insurance (250 Per Month) , HOA Fee (200-250) , Utilities (300) , Home Maintenance (170), Lawn Care and Land Scaping (150), Pest Control (25), Trash and Recycling (20) ... 

[Chatgpt2]

2 minutes ago, Joker_007 said:

Then you need to count the expenses incurred per month to maintain the house, like Home Owners Insurance (250 Per Month) , HOA Fee (200-250) , Utilities (300) , Home Maintenance (170), Lawn Care and Land Scaping (150), Pest Control (25), Trash and Recycling (20) ... 

ivanni ee intlo ayina kattalsinde gaa uncle? Akkada lekkalu appreciation ledu only depreciation ante cheppina, anything specific to house remodeling and all are negatives

[summer27]

1 hour ago, hushh fatak said:

antha ledu

4 years ki interest - 78-80K

expenses to maintain it 3-4K

sale appudu realtor commision 3-4% 40K

 

actual profit is 1000-833K = 167K 

Minus 80+4+40K = 124K

table profit = 167-124 = 43K ante 35-36 Lakhs in 4 years

aa 43K meeda capital gain taxes untayi kada anna..

also how about the rent savings during that time, that should be included in profit no..

[krishnaaa]

38 minutes ago, Joker_007 said:

Then you need to count the expenses incurred per month to maintain the house, like Home Owners Insurance (250 Per Month) , HOA Fee (200-250) , Utilities (300) , Home Maintenance (170), Lawn Care and Land Scaping (150), Pest Control (25), Trash and Recycling (20) ... 

Also house warming and furniture costs.

Loss of opportunity due to money being tied up etc.

[hushh fatak]

50 minutes ago, summer27 said:

aa 43K meeda capital gain taxes untayi kada anna..

also how about the rent savings during that time, that should be included in profit no..

yeah good catch  

i forgot about that. so net is 85% of 43K = 36.5K 

 

[hushh fatak]

 

2 hours ago, Chatgpt2 said:

How abt rent money? They stayed for free, 4k * 12 minths * 4 years = ~ 200k

yeah adi benefit ye..

a intiki 4k untundhi kani illu konakapothe , 4k petti aa intluo undaru kada.. max is 2800-3000 per month

so 3k*12*4  = 140-145K

[jpismahatma]

anna you forgot the point. You are just looking at price. The folks who brought in 2021 was 3.3% which is affordable but  now it is 7%. Tesskunodu ki oka dandam petali.

[Chatgpt2]

1 minute ago, hushh fatak said:

 

yeah adi benefit ye..

a intiki 4k untundhi kani illu konakapothe , 4k petti aa intluo undaru kada.. max is 2800-3000 per month

so 3k*12*4  = 140-145K

But they enjoyed that luxury no? 
 

lets cut to the chase

100k ki total ga 50k profit ochina 10% return per year 

[ErraBook_monagadu]

Where is the profit?

purchase+ closing cost 850K

property taxes 60K

selling cost 40k

Interest on 850k at 3% is 100k opportunity cost

Total cost $1.05M

Sold at $1M

Loss 50k

They lived for 3 years, it was vacant for one year for sale in the market. If they lived apartment, you would pay $3K, for three years that is $110k.

Net benefit  $60k living in the house. 
 

That $60k is easily spent on upgrades, like solar, repairs, maintenance , moving costs, home insurance, longer commutes, opening ceremonies, value of time in buying and selling,………

 

 

 

 

 

[Abhagyudu]

2 hours ago, summer27 said:

aa 43K meeda capital gain taxes untayi kada anna..

also how about the rent savings during that time, that should be included in profit no..

No taxes after 2 years 

[Jalsa456]

4 hours ago, hushh fatak said:

realtor commision 3-4% 40K

 

4 hours ago, Chatgpt2 said:

How abt rent money? They stayed for free, 4k * 12 minths * 4 years = ~ 200k

enti joke a property taxes , hoa , home owners isurance and high utility bills evadu kadatadu ..and furniture to match the spaces and move in and move out costs and if compared with rental high utility bills for around 4k house for 4 years etu choosina loss ee

[CanadianMalodu]

22 hours ago, ErraBook_monagadu said:

Where is the profit? paid $60k property taxes, $100k in buying+selling costs and vacancy cost for one year.

purchased $840k and sold $1M after 4 years. Zero profit.

effectively paid interest to the bank each year and took care of the banks house as coolie

 

 

 

Most of the mortgages are like this. You buy a mortgage, you're a slave to the bank. Unfortunately, many Telugu teams don't understand this concept. 

[ErraBook_monagadu]

5 hours ago, nenu_meeku_telusa said:

Bought for 830 and 56% increase in 4 years is desperate try. 

Because similar houses were bought by our Desi bakras $1.3M to $1.5M in 2022-2024.

people were bidding like crazy and overpaid. Now market is crashing, those that purchased at such high prices are stuck with underwater mortgages 

[nenu_meeku_telusa]

2 minutes ago, ErraBook_monagadu said:

Because similar houses were bought by our Desi bakras $1.3M to $1.5M in 2022-2024.

people were bidding like crazy and overpaid. Now market is crashing, those that purchased at such high prices are stuck with underwater mortgages 

Show sales at that price by desis