Contributory value of new septic system?

[Mark K]

...for CE at one of our meetings. His topic..."How to polish a turd"....

Sounds like most CE classes... and infinitely more interesting than the last McKissock USPAP online class!

 

[CindyR]

Use paired sales of homes that have new roofs or new HVAC, new kitchens; see if there is a market premium for those items and use the same % amount for the septic.

This one made me LOL. People WANT new kitchens; they will pay for new kitchens even if the house already has an almost new kitchen. No buyer ever smiled sweetly at her husband and said 'I really want the one with the new septic system.'

 

[Mr Rex]

One local honey dipper truck here has the motto "We are #1 in #2" on their truck.

 

[Elliott]

"straight flush beats a full house"

 

[Mark K]

No buyer ever smiled sweetly at her husband and said 'I really want the one with the new septic system.'

I can hear it too..."Oh, don't worry about it, the wallpaper and carpet is just so darling; we'll never have to go outside and smell the back yard swamp."

 

[CBBoston]

The house we bought about 14 years ago had a septic issue. MA has something called Title V the sets septic standard and most banks won't lend unless they pass a Title V inspection. The seller had the test done and found out it would require a new raised leech field. We told the seller he could fix it or we would buy it and do it our selves but wanted a $40K discount off the price. At that time the cost of the new system was about $25K. We figured a $15K discount in addition to the actual cost as a hassle factor and cost uncertainty was about right. The seller didn't want to give up that extra $15k and opted to have the work done himself. When they started the new leech field they found that the area was mostly boulders and the cost was went up. Ultimately the system cost him $35K. As far as tanks went they put two in -- one as a settling tank and the other a pumping tank.

I think that doing matched pairs for something like this would be extremely hard. Finding the sales and then verifying the specifics would be very very time consuming.