I told him $106,500 that included $102,500 for the house and the master
suite plus $4000 for closing costs, inspections, etc.
He said he wanted $112,500 and he would make the bedroom suite bigger
and he would build a deck or a ****ch off the kitchen (whichever we
wanted). He said it was because he would have to pay two more months of
mortgage, house insurance and interest on the $20,000 loan he would need
to get to build the bedroom suite.
I'm thinking his mortgage and his house insurance are not our problem.
He would have to pay that anyway no matter what. Also, $20,000 is high
for adding the bedroom suite because he is doing the work himself and
only has to pay for the materials (wood, siding, nails, etc.) and the
materials won't cost that much anyway, especially since he gets a
contractors discount at the store.
Also, I know that he only paid $30,000 for the house and there is no way
he spent more than $20,000 to do the remodeling. So, that means that
the house MAYBE cost him $50,000. So, if you add the $20,000 for the
bedroom suite (which is too high) it still would only cost him $70,000.
That means he is already making at least $32,500, but probably more.
Also, like you said, there is no air conditioning and no kitchen
appliances.
So, I'm thinking to tell him we stay at $106,500.
What do you think?
Todd
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