WWMMD-build on or build

[my3bears]

Do you have a real estate agent you trust that you could ask? I would be concerned about getting as much money back as possible since you are talking about selling.

[dancingirl21]

I would probably do option 1 and move to an area that has good schools in the future. Also, you never want to be the biggest/best house in the neighborhood. It's bad for your resale value.

[mcfelix]

I would definitely do option 1, assuming you are absolutely set on doing something. I'd probably lean toward doing nothing and moving when you are ready. I would not use another address for schools. In our area, they are very strict about verifying your address and that you are living there. Plus your kid likely wouldn't be as close to friends' home since theoretically you wouldn't be living in the actual district.

[Deleted]

I'd see if you'd get your money back from putting a garage on your property. But I would put it on the market and move to where you want to be. Schools are important IMO and I wouldn't lie about living in a district.

[Deleted]

Option 1

[Deleted]

I'd build the garage and save the other $20K to put people up in a hotel if you have guests. Then I'd move when you want to move. I wouldn't want to live through an extensive reno just to sell quickly after that.

[illgetthere]

Option 1 based on school issues. Not counting the legality, if the school sends anything, it will go to the rental house. They will also notice duplicate addresses between you and your renters, if they have kids.

[bk1]

Option 1

[sunshineluv]

If you go for option two, you wouldn't need to consider resale value, since it would be your forever home, right?

I don't like the idea of a 30K remodel just to fix it up to sell soon. I lean towards option two.

Also, I would totally use another address to send my kid to the school I wanted, I guess that is a part of my ethics in a grey area I am okay with. I mean, you are paying those property taxes right? I don't know, it just doesn't seem like a big deal to me.

[illgetthere]

Jan 26, 2015 16:18:29 GMT -5 sunshineluv said:

If you go for option two, you wouldn't need to consider resale value, since it would be your forever home, right?

I don't like the idea of a 30K remodel just to fix it up to sell soon. I lean towards option two.

Also, I would totally use another address to send my kid to the school I wanted, I guess that is a part of my ethics in a grey area I am okay with. I mean, you are paying those property taxes right? I don't know, it just doesn't seem like a big deal to me.

She's not paying the property taxes. The renters are since OP has (I assume) taken property expenses into account when calculating the rent amount.

[illgetthere]

Jan 26, 2015 16:32:03 GMT -5 @songforyou said:

Option 1. I wouldn't want to put $75k+ into a house and end up with the biggest house in the neighborhood. Also, I would only do Option 2 if you have another plan besides using the rental address as your residence. School districts are filing charges and sending parents to jail for that these days (I tend to think it's often racially motivated, but you never know). It's not worth the risk. Besides, like mcfelix pointed out, driving the distance to your child's friends' houses gets old fast, trust me.

Jan 26, 2015 16:23:21 GMT -5 illgetthere said:

She's not paying the property taxes. The renters are since OP has (I assume) taken property expenses into account when calculating the rent amount.

This may be semantics, but she is paying the taxes, nevertheless. They're in her name. If her renters leave or stop paying, she is still responsible. If the taxes at some point exceed what she can make on rent, she is still responsible. I'm not advocating for her to use the address because of these things, but she is paying the taxes.

She is responsible for the taxes, but the renters are the ones paying a premium to live in the good district. Both the homeowner and the renter cannot use the same address at the school; the renter is the one paying for the neighborhood.

I do see what you are saying and agree with you though

[msmerymac]

Well, look at it this way. Sure, she's paying taxes, but so are business owners in the district. She also isn't allowed to use that address to, say, vote in local elections. That's why there's a difference between your permanent residence and other property you own. In several ways.

Anyway, I'd lean towards 1, but is there a real benefit to a guest suite in the basement if it's already a 4 bedroom house? Do you use one of those as a guest room now? It seems like it would already be a floor away from your room. Would it be to allow a parent to move in with you? Would it also over-improve the house? I'd probably just build a garage for now and call it a day if you plan to move soon.

[Deleted]

Option 1. Don't overbuild for the neighborhood, as it makes the eventual sale impossible. Set yourself up now to sell the property easily, with a garage, in the short term future.

[heyrebekah]

Option 1. Option 2 seems like overkill, and also just giant pain in the ass.

ETA, I'd probably just do the garage and skip the guest suite.

[af1212]

Jan 26, 2015 16:18:29 GMT -5 sunshineluv said:

If you go for option two, you wouldn't need to consider resale value, since it would be your forever home, right?

I don't like the idea of a 30K remodel just to fix it up to sell soon. I lean towards option two.

Also, I would totally use another address to send my kid to the school I wanted, I guess that is a part of my ethics in a grey area I am okay with. I mean, you are paying those property taxes right? I don't know, it just doesn't seem like a big deal to me.

Where I live it would be illegal to send your child to that school district if it was not the primary residence of yourself or your child's other parent in a shared custody situation. It's a big deal. There are large fines and you also have to pay tuition for all of the time your child had spent in the school up until it is discovered. It's all outlined on the district website.

[af1212]

We want to advise all registrants applying for enrollment that making any willful false statement is a crime and subjects the person making such false statements to penalties of perjury pursuant to the Pennsylvania Crimes of Offenses Code 18 PA stat. Section 4901, et. seq. Also, the District may bring further charges again the individual for theft of services pursuant to 18 PA stat. Section 3926 and 18 PA stat. Section 3922, both of which would be considered felonies, and Fraudulent Practices pursuant to 18 PA stat. Section 4101, et. seq. The individual also becomes liable for the average annual tuition of $9,916.26 for an elementary school student and/or $11,558.61 for a secondary student. Tuition rates fluctuate from year to year.

[IrishBelle]

I'd do option 1 but how much more would it be to connect the house to the garage with that option?