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Message: [QUOTE="whaler11, post: 2702748, member: 676"] These are things that might be true in other places. Not true here. If you follow the logic in this thread nobody would live in any house but the worst house in any neighborhood and every other house would be empty. This would actually lead to the worst houses in a neighborhood being overpriced on demand. Do people really think there are handyman specials sitting in Simsbury or West Hartford or Glastonbury that you can pick up cheap and rehabilitate for profit? Maybe if you had a time machine that could take you back a few decades. I sold a Glastonbury condo to a friend in 2007 for 190k. She struggled to get 140 last year when she moved. Nobody except someone selling houses would attempt to convince someone in 99% of Connecticut that you get equity through flipping houses on sweat equity. The towns budgets are getting hammered because the state has moved education money from the suburbs to the cities. More pressure on property taxes in the desirable towns. If my house and cars were a mile east over the Glastonbury line my property taxes would be 20k a year. If the federal tax law doesn’t get overturned home values here are going to down. The combination of the higher standard deduction and the elimination of the SALT deduction is straight murder. Essentially CT property taxes went up by your effective federal tax rate. If you could find a non-condemned home in West Hartford that came with a 10k property tax bill - it’s now 12 or 13k. Your 15k state tax liability is now 20k. Things change. This thread is filled with some terrible advice for people considering buying a house in Connecticut. If you really want to buy a house here cool your heels for a year and watch the prices drop when people understand the impact of losing SALT next April. People are going to run for the hills when they see how expensive it is. The reality here for the past decade and going forward: Buy a house because you want that house. It is not a way to build wealth, it’s a place you live. [/QUOTE]

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