Perhaps you could let HER be the one to do all things that need fixing. A good start might be having her fix things around your house instead of you. That may help her realize that she doesn't want to do this after all.
Even though the prices of the house are pretty similar you will still lose as much as 5% if you use an agent and the 70s house could cost more to maintain in the future. There are tax adv to selling your house that you are probably already aware of but I am not sure where you live and you may still have to pay some substantial taxes from the sale of your house. In the end the new house will probably cost you more and perhaps you can bring that up with your wife if your home is already a huge % of your net worth. Over time your health insurance will rise and probably not linearly to how much it's rising now for those 10 years older than yourself right now. Personally I would keep a substantial savings until you know your kids are settled with secure jobs, although you may mean that by saying they will be out of the house.
- Oct 3, 2004
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Yes, I am aware of the commission I will have to pay on the sale of our current house, as well as the property purchase tax on the other house. There are no tax implications to the sale of our house. In Canada, you can buy / sell your principal residence with no capital gains tax.
I do agree that the upkeep on the other house will be higher, and my costs of living for health care, etc will increase as we age. It had been my intention that after the kids are out of the house and settled in their careers we would significantly downsize our house and take some extra money from the sale and use that asset to make additional income. Now it appears she want to use the entire asset value to downsize and buy a view. Who knows, maybe she will be right and the value of the view will rise faster than other investments.
AMCRambler
Diamond Member
- Jan 23, 2001
- 7,715
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Try something other than outright refusal. Tell her you're not opposed to her idea of a house with a view, but you have reservations about this particular house she's set on. Keep an open mind though. Have you even been through the house? There are many homes built in the seventies that are in great condition. If it's been well taken care of, it could be a very nice home without all the headaches of repair that you are afraid of. I know I don't have to tell you this, you've obviously bought your share of houses. Maybe you can convince her by explaining to her the problems this house could have, that she should keep looking. Try and keep it calm, no yelling. She's more likely to see it your way if it's not a screaming match. If not, then make a deal that if she gets the house, you get a new toy in a couple of years(I'm thinking Corvette!).
- Oct 3, 2004
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Yes, keeping my head is key here. Last night I suggested she have a professional home inspection done, and today I will give her a list of names of reputable inspectors.
I do not intend to look at the house myself, other than the listing and picture on the internet that I looked at this morning. I grew up in a house almost exactly like this house, so I know the floor plan. It is really not the house that it bothering me, it is trading down in size and age to get the view. I guess I just don't value the view.
- Oct 3, 2004
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We are in Canada, but the same principle applies. We have a property tax payable each year that is based on the assessed value of the property. A property with a view increases the land value. The assessed value of the structure would be less than our current home, but the combined value would be similar, so the taxes would be similar.
How about this: Under U.S. tax law, you can exlude up to $250,000 gain on sale of a home you've lived in at least 5 years ($500,000 for couples, I believe). Tell her that if she can sell your current home for AT LEAST $250,000 gain, you'll do it, otherwise, no. If she CAN sell it for that much gain, she's very very good. Tell her you are NOT going to consider moving to this new house unless she can turn a significant (tax free) profit. Is it ridiculous to expect a minimum gain of one quarter of a million dollars before being willing to move? Yes. Is it even more ridiculous to dump your home of many many years, for an older, more worn down and smaller house because "the viewer is nicer". EXTREMELY.
SunnyD
Belgian Waffler
Saint Nick
Lifer
- Jan 21, 2005
- 17,722
- 6
- 81
dude just make a deal with her. sex twice a day and blowjobs at night for ten years and then she will agree. then buy the house. WIN WIN SITUATION!
Nothing like going into debt, massive headaches, problems you didnt have before etc, just so you can have a view that you will get used to and cease to appreciate in under a month.
Then again, if pre-menopause is anything like PMS, all of the above may be the lesser of two evils. To me it just sounds like shes having a midlife crisis.
Then again, if pre-menopause is anything like PMS, all of the above may be the lesser of two evils. To me it just sounds like shes having a midlife crisis.
- Oct 3, 2004
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Nice try, as mentioned earlier in the thread, we are in Canada, and the entire gain on our current home is tax free. There is no capital gains tax on the sale of our principal residence, unless Revenue Canada suspects you have started to do it as a business and are flipping two or three homes per year. Just out of interest the gain we would make on our current home is quite a bit more than $250,000 for the 13 years we have been living in it.
cKGunslinger
Lifer
- Nov 29, 1999
- 16,408
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Are you retireing early, or did you just have kids late in life? (OT, and personal, I realize - just curious.)
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