Before you come down hard on me for having the audacity of asking this question, I want to make it clear that I really don't care what you paid. The point want to make was how some buyers would answer this question and solicit your thoughts on the subject.
For example, imagine you paid $300,000 with $10k down in 2001, then later re-financed during the HELOC boom in 2003 in which you could borrow up to 125% LTV. With all that cash burning a hole in your pocket, you went out and bought a new SUV, paid down a few credit cards and even managed to squeeze in an all-inclusive trip to Cancun. Would you still think you paid $300k for your house or would you have the mindset that you paid $350k...after all, that's the note you're paying on every month?
I'd also be really curious to know if you feel like the price you paid for your home (after living there 10+ years) is based on what you purchased it for OR what you paid XYZ years ago PLUS all of the interest paid to date. There's no right right or wrong answer - just different perspectives.
Anthony Rael & Assoc.
Metro Brokers Arvada-Northwest
12191 West 64th Ave, #210
Arvada, CO 80004
Anthony Rael is a Denver Real Estate Agent specializing in relocation, first-time buyers, home property values, residential home sales, Denver Colorado Real Estate & MLS/IDX Listings, single family homes, condos, lofts, short-sale, foreclosed, bank-owned & investment properties. Providing professional & trustworthy real estate services to buyers & sellers throughout the Denver metro area including Arvada, Brighton, Broomfield, Denver, Golden, Highland/Sloan's Lake, Highlands Ranch, Lakewood, Louisville, Longmont, Thornton, Westminster, Wheat Ridge, Adams County, Denver County, Douglas County & Jefferson County in Colorado.
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