Where are you going? Everyone keeps claiming they will leave, but nobody says where they are going. The states with the most permissive zoning / no zoning are red states. Go to FL or TX and you can literally build a quasi-industrial site in residential neighborhoods, not to mention condos or apartments. It’s quite strange to say you will vote Republican in order to get more government regulation. |
Agree! What an exaggerated hysterical title for a post. |
Wake up. The entire “nation” is a fail. |
God this is such a pet peeve of mine. My city added bus lanes, removing traffic lanes to do so, and when people protested cited Japan as an example. I rode that bus in my city throughout my 20s. The Reason no one wants to ride it is because it's filthy and full of addicts and bums. The end. Until you fix that, no one is riding your bus. Not to mention that the urban planner my city hired is a 22 year old who talks like a very dumb sorority girl. Really inspires trust that they didn't hire someone who might know something about the job. But they got DEI points. |
This! The people doing urban planning in places like Japan and China are a tad bit more impressive academically than the Nobel Laureates working for Montgomery County. But somehow we’re supposed to believe that these relatively low IQ Montgomery County employees are going to help plan and build Tokyo or Shanghai level infrastructure to go with all this “Smart Growth,” overseen by geniuses like Will Jawando or Evan Glass and not spit up coffee laughing hysterically at the notion. |
I fully intend to help destroy my suburban neighborhood, and make a nice pile of cash doing it. We’re on a big corner lot in Chevy Chase View, and if this goes through, we’ll form a developer LLC, knock our current SFH down, and replace it 5-7 townhomes. At the current market, we’d clear about $1.6M after construction and sales. I hate this neighborhood and I hate my neighbors, and nothing would delight me more than to stick a bunch of low-end townhouses right here on the corner for everyone to look at. |
why is it a good idea? and please note this wont add any "affordable" housing. it will mostly allow developers to take a 1.5 mill SFH and create 2 or more 900K townhomes. I guess the county/state will see more property tax income, but theyll burn through that. will we get lower property taxes, better services, what is good about it? |
I'm not understanding the math here. Wouldn't you clear more than that just selling your house to a developer? They still have to bid against people that may want to keep it as a SFH, so it's not like they can only bid your land value. They can bid more because they intend to do just what you mention. If you aren't in the business, it sounds crazy to me that you will assume 100% of the risk and expense (not to mention, where are you living during the 2 years to do all this and how much does that cost?), just to clear $1.6MM vs. what would you clear just selling to a developer and moving on. |
No. The government overstep is dictating what owners of private property can and cannot build on their land. |
Why would we sell to a developer for $1.5ishM when that developer will just turn around and net $1.6M after demo and construction expenses for some builder-grade townhouses? Makes a lot more sense for us to just keep the property, form our developer LLC, hire a contractor, spend $100k raising our home and doing site prep, then another $7-800k building a half dozen townhouses, and selling each for $500k. After paying off the remaining balance on our loan, and permitting fees and construction expenses, we’re still up $1.6(or more)M. So to be clear: you’re asking “why we’d rather walk away with $1.6M instead of $600k?” I don’t really understand why you’d ask that question. I don’t understand you….. at all. |
the "owners" you speak of will almost certainly be developers, who probably will have Md/MOCO tax exemptions to destroy SF neighborhoods. those tax exemptions get put back on the SF homeowners in Property tax increases the developers dont care, they will build the cheapest townhomes and apartments to maximize profit you're giving away the last thing holding Maryland together, just so moore can take a national victory lap. |
Because unless you are in the business of building homes, I guarantee your numbers are off by likely a wide margin. Just your $100k estimate for razing your home and doing prep work is probably off by like $150k in the DMV. How are you possibly building 6 townhomes for $800k? How big are these townhomes? If you are directly in the business, then maybe you do know what you are talking about. Why are you only getting $600K if you sell your house to a developer for $1.5MM? |
Yes, I’m tangentially “in the business”, so my figures are nailed down. |
So, you are a developer yourself. It's just you will reap the rewards vs. a 3rd party developer. |
Newly built townhomes in Chevy Chase View would go for $1.2M easy. PP would way more than what they think they would. These townhomes fetched almost $1.5M each and they are under The Beltway. https://www.redfin.com/MD/Chevy-Chase/3729-Glenmoor-Reserve-Ln-20815/home/167686977 |