Paving vs. Property Value
Posted: Tue Nov 13, 2007 11:27 pm
Please forgive the not-so-complete profile... I couldn't remember my old username/password and had to create a new one.
I have a '92 Fleetwood DW, 1480ft', on 1.22 acres in a residential neighborhood (not a park) in Florida. The county just paved our dirt road... now we have pavement from the major highways in the area (two to three miles in either direction) all the way up to our driveway.
When we bought a year ago, it was appraised at 103K, bought for 97.5K, and have probably paid down about 1.5K on the principal. I'm wondering if any of you might have experience how the paving might affect my property value (I'd like to get rid of the $40 monthly MI Insurance and wonder if it's worth getting a new appraisal to see if I can hit 20% equity...)? The original appraisal accounted for a dirt road.
I'd be glad to hear your thoughts!
Thanks,
Tim
PS - I'll post some pics soon now that I'm back on the forums.
I have a '92 Fleetwood DW, 1480ft', on 1.22 acres in a residential neighborhood (not a park) in Florida. The county just paved our dirt road... now we have pavement from the major highways in the area (two to three miles in either direction) all the way up to our driveway.
When we bought a year ago, it was appraised at 103K, bought for 97.5K, and have probably paid down about 1.5K on the principal. I'm wondering if any of you might have experience how the paving might affect my property value (I'd like to get rid of the $40 monthly MI Insurance and wonder if it's worth getting a new appraisal to see if I can hit 20% equity...)? The original appraisal accounted for a dirt road.
I'd be glad to hear your thoughts!
Thanks,
Tim
PS - I'll post some pics soon now that I'm back on the forums.