Big Builds in Bethesda Not Selling
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Anonymous
PP you quoted - when I said hit mid 6 figures I meant $500K+, not $150K lol We actually didn’t notice the county tax when we made $300K because it’s not as bad at that level $ wise (I think we paid under $10K back then?) It’s as you pass $500K and get closer to / over $1M it gets absurd. Which you kinda need to make to afford $2.5+ M homes without a trust or family help. |
Anonymous
3,000SF can be a HUGE HUGE MASSIVE house or a moderate size at same time. My brother has a one story house in Florida on a slab with 3,000 SF and a two car garage (400sk) so he had 3,400 sf of indoor sapace. I looked at a 3,000 SF house once that had a finished basement (1,500 sf), a two car garage (400 SF) and a walk up attic with stair case for storage (1,500 sf) that could be finished for more living space. The house had 6,400 sf of indoor space. But listed as 3,000 SF. |
Anonymous
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Family of 4 in 3,000 sq feet with a small but decent yard, and it is the right size. Everyone has their own bedroom, one dedicated office and one office/guest room, and half the basement is finished and half is storage.
I would not go smaller. During covid, we could all work from home and the kids could do their schoolwork without being in each other's way. FWIW, 20817, and 2 million dollar homes are going quickly, but $2.1, not $2.5 |
Anonymous
Came here to say this. The second one is really terrible. Everything is odd--especially the huge second story porch on the front of the house. Who would want that? Ugh. OP--I completely agree. If these were 4-5 bedrooms with slightly less square footage in the $1.6-$1.8 range, they'd sell quickly (even given how dumb the second one's design choices are). It doesn't make sense. |
Anonymous
Right, and people clearly pay more for more indoor square footage, so that's what the market gives them. It's not complicated. |
Anonymous
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My Old town counted fit, finish, sq footage and age in assessment values.
A new build paid double per sq foot than an older build. Plus new builds usually more sq footage and higher build quality. Property taxes my old area used to be like 7.5k for a split level house from 1950s with no central air and 1,500 sf. My neighbor up block tore down old 1,500 sf house in original condition and built a 3,000 sf high end mansion. Taxes of course based on size moved from $7,500 to $15,000 then taxed at double as new built so $30,000 then he put a pull in finished basement, central Air, deck and higher end materials so another 6K. He is now paying $36,000 property tax vs. $7,500. We had extremely few tear downs and new homes. I say 99 percent of 1950s homes are as is when built. Which leaves tons of nice starter homes or empty nestor affordable homes. Folks can move to towns where big new homes exist. It left my town a family friendly popular town for newly weds, blue collar people, empty nestors. I did trade up after 20 years adn moved. Why, well if I tore down and moved that 36K taxes would make my house very hard to sell plus I did not want to pay them. Bethesda should do this. Tax the hell out of new builds. |
Anonymous
Amen! We should tax the hell out of new builds and their double air conditioning units as the world warms. Imagine doing something concrete rather than the performative BS we see from champagne socialists of Montgomery County.
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Anonymous
I have a 1500 sq ft townhouse and it has two AC units. It’s four levels and I think you need two units because of that. |
Anonymous
And yet houses in this neighborhood have pushed to nearly $3M, just not this season. |
Anonymous
Right. Those houses certainly weren't going to go to NIH employees. |
Anonymous
The second house was a heavy remodel, not a new construction. That's probably why it's so wonky. I don't know why anyone would choose to build/sell a a 4-5 bedroom house for $1.8M if they thought adding another bedroom would get them $2.4-2.8M. You're getting a much larger profit with the latter. |
Anonymous
They're big, but not outrageously so. The first house wouldn't be used as a six bedroom house. One of the rooms would probably be as office. The top level room would probably be a play/craft room. I like it a lot, but certainly not for $2.8M. |
Anonymous
First house build quality is poor. Cracks and poor finsihing which you can see from outside. You can only guess what's inside the walls. |
Anonymous
Houses owned by LLC made specifically for a house are hit and miss. Some time you get decent one and some time you get bad ones. |
Anonymous
So are these houses actually private equity trying to increase housing values? As in, they don’t care if anyone actually lives in them or not?
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