Anonymous wrote:Anonymous wrote:A lot of the housing stock in Bethesda is not that "charming". There are also plenty of young families in these tear downs, these neighborhoods are filled with kids. People have money here (or their families do and are willing to help on down payments). I agree that some of the new mcmansions are terrible, but many times, the homes they are replacing were not that great to begin with. I think it is better growth and development policy to encourage people to teardown rather than take build new in green space in the outer burbs.
+1
Anonymous wrote:A lot of the housing stock in Bethesda is not that "charming". There are also plenty of young families in these tear downs, these neighborhoods are filled with kids. People have money here (or their families do and are willing to help on down payments). I agree that some of the new mcmansions are terrible, but many times, the homes they are replacing were not that great to begin with. I think it is better growth and development policy to encourage people to teardown rather than take build new in green space in the outer burbs.
Anonymous wrote:Who is the “they” in your question? Bethesda is just a geographic area. There is no Bethesda government. Some neighborhoods do have covenants that prohibit tear downs. But the housing stock is pretty old. Some of these houses need to be torn down.
Anonymous wrote:Anonymous wrote:Anonymous wrote:Not sure about Bethesda but in Vienna, the new homes do pay a lot more taxes. There is no new land in town limits, so demand drives the price of the existing lots sky
High. Houses sell before being listed. Older residents are bombarded with solicitations trying to buy they’re home. ramblers on a quarter acre ( or rather “a quarter acre with a run down rambler”) goes for $700k. And the only people who can afford a 1960 rambler that’s falling apart is a young family with high HHI. They can fix it up and make it a livable 1100 sf rambler that cost them $1mm. Or knock it down and build a $500k structure , costing them $1.2mm.
People want to say “that house is not worth 1.2mm.” The buyer should know that. It’s the LAND plus the house. And ours cost 1.5mm because we bought from a middle man (ie builder).
the town of Vienna wins here. They are making a killing just on them taxes. Again, not Bethesda, but thinking it’s similar
x10000
One word: taxes.
Same in most close in areas. The "old" residents don't like it. But then, they aren't the ones paying the bulk of the taxes, so their opinion doesn't matter much.
I’m one of those old residents and the pay a sh$tload of taxes.
Anonymous wrote:Anonymous wrote:Not sure about Bethesda but in Vienna, the new homes do pay a lot more taxes. There is no new land in town limits, so demand drives the price of the existing lots sky
High. Houses sell before being listed. Older residents are bombarded with solicitations trying to buy they’re home. ramblers on a quarter acre ( or rather “a quarter acre with a run down rambler”) goes for $700k. And the only people who can afford a 1960 rambler that’s falling apart is a young family with high HHI. They can fix it up and make it a livable 1100 sf rambler that cost them $1mm. Or knock it down and build a $500k structure , costing them $1.2mm.
People want to say “that house is not worth 1.2mm.” The buyer should know that. It’s the LAND plus the house. And ours cost 1.5mm because we bought from a middle man (ie builder).
the town of Vienna wins here. They are making a killing just on them taxes. Again, not Bethesda, but thinking it’s similar
x10000
One word: taxes.
Same in most close in areas. The "old" residents don't like it. But then, they aren't the ones paying the bulk of the taxes, so their opinion doesn't matter much.
Anonymous wrote:Not sure about Bethesda but in Vienna, the new homes do pay a lot more taxes. There is no new land in town limits, so demand drives the price of the existing lots sky
High. Houses sell before being listed. Older residents are bombarded with solicitations trying to buy they’re home. ramblers on a quarter acre ( or rather “a quarter acre with a run down rambler”) goes for $700k. And the only people who can afford a 1960 rambler that’s falling apart is a young family with high HHI. They can fix it up and make it a livable 1100 sf rambler that cost them $1mm. Or knock it down and build a $500k structure , costing them $1.2mm.
People want to say “that house is not worth 1.2mm.” The buyer should know that. It’s the LAND plus the house. And ours cost 1.5mm because we bought from a middle man (ie builder).
the town of Vienna wins here. They are making a killing just on them taxes. Again, not Bethesda, but thinking it’s similar