Reply to Buying neighbor's house behind ours, tearing it down to make yard / pool

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[quote=Anonymous][quote=Anonymous]I don't see how the pool would be .5 million.   Unless this small lot house is in Franklin Park,  Ballantrae, Langley Farms, near the Chain Bridge [not in a development] I think the project is a WASTE of money.

Move onto another house OR if possible carve out a small portion of the second lot, fix up that house and sell it.   That also is only worthwhile in specific locations.[/quote]

I'm one of the PPs who wrote we bought the house behind us and rent it out, and will probably make it a pool.

For us, we like our current house, neighborhood, and location in the neighborhood, and plan to live here for at least the next 20 years and our kids will grow up here. By buying the house behind us, we are ensured a tear-down won't end up in its place (unlike every other house on the same block, including ours). The kids will enjoy the pool. We aren't as concerned about real estate values as this isn't an investment for us -- it's for our lifestyle.

Anyway, the place we bought, the land is worth 3x the value of the 3br/2ba house on it, so we'll still be able to capture value selling it, though likely we'll be 60 years old and sell it as part of our main house at that point.[/quote]

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