Are You Building a New Home in Newburgh NY?
Three Bedrooms or Four Bedrooms in New Construction Homes... Which has More Value Now and Then?
In the constant battle that we face with local taxes the issue always comes up as to the sales value and the tax value of a home. New York State has some hefty taxes when it comes to real estates. Location matters, and then the size of the home and the school district come in to play. When building a new home the question does arise if we should build the home as a three bedroom with a den, or an actual four bedroom home as the taxes on this home will change. Value is the question. 
A bedroom is defined in most towns in Orange County as having a door, a window and a closet. Take out that closet and call it a den, and now you have a house with one less bedroom. Poof….the taxes are lower. It also matters to an appraiser that you now have a home with less value. Obviously going to sell the home it is now a three bedroom, not a four, but with less taxes. The square footage of this home is identical … the only difference is that closet. It really doesn’t even cost anything different to build this home either.
I would say that it depends on what you want to use the room for. Depending on your lifestyle and how long you plan to stay in the home is what matters. Think it through and weight just how much less money you would pay each year for not having a closet. Check out the potential with the town assessor and see what the difference would be. It may not pay in the end. What will that cost you when you go to sell the three bedroom home? Knowing the answers now can safe you money.
My expertise is in New Construction Homes. If you would like more information about the area or homes available for new construction in Newburgh NY please contact me. Homes “to be built” don’t always show up on the MLS until they have a building permit. Let me show you where they are.
Comments(4)