The Value Of Our House Is Dwindling

We got a letter from city taxes stating that our house was estimated €15.000 lower in value compared to last year. On the one hand, that’s good news since that means less property taxes. On the other hand, this is really bad news since our house is worth much less than our original mortgage and still less than the amount left over after all our extra mortgage payments.

So, we paid off 22.66% of our mortgage by now…but that wouldn’t even cover the loss we made! Now my husband and I feel like the estimate is too low but we would still make a huge loss if we sold now. We have no intention of selling our home anytime soon. But this does feel a bit discouraging.

However, we should keep level-headed and keep on paying off that mortgage. It’s the only sane way to go, right?

What’s up with the value of your home?

Love,

Mrs EconoWiser

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6 thoughts on “The Value Of Our House Is Dwindling

  1. Valhalla

    It is like crying with your hat on 😦
    Geen idee of we onder water staan, dat weet je pas als het voor een x bedrag verkoopt. Maar bij dat verkopen, daar wringt nu net de schoen. De WOZ is 298, de hypotheek 235. Maar die WOZ is gewoon achterlijk hoog en dan werd ook mijn bezwaar nog eens niet ontvankelijk verklaard. Grmbl.

    Reply
    1. econowiser Post author

      Vorig jaar werd ons bezwaar wel ontvankelijk verklaard en werd de WOZ ineens verlaagd met €51.000! Zo zie je maar dat het hele systeem nergens op slaat. En nu is het dus weer €15.000 lager dan het verlaagde bedrag.

      Reply
    1. econowiser Post author

      It’s a Dutch expression directly translated into English. It means something like shit is happening and you can’t do much about it. I also think this property tax estimate is lower than the market value. We added an extension, two dormers and a little building for the side business. I don’t think that’s included in the estimate.

      Reply

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