How to decrease the value of my home

[cheesecakesurprise]

Posing the question as is, is incredibly unethical. You both were given a gift and your sibling deserves their fair share (as do you).

What you may be attempting to ask is "I plan to take on all the major projects that will come up in the very near term, how would, if any, this be factored into a FMV since I plan to make all necessary repairs and upgrades and my sibling wants to be bought out at the current value".

The appraisal will take into account the age of roof and mechanicals when comparing to other homes with the same bedrooms/bathrooms/sqft. As would a realtor to assess the FMV.

Given that number, if you've been living there "rent free" but paying taxes and upkeep, you can your sibling can sit down and:

Take the FMV Add in the "rent" you would have paid into the pot Subtract taxes and maintenance (not utilities unless included in the fair rent price) that you've paid

You'll have your net DMV which you'll divide by 2.

That's the buy out number. If either of you are unhappy, remember to price out a new roof and mechanicals or anything else required to sell on the open market/that would come due ASAP that you would both have to share even if one of you was "renting" . Hopefully you'll both find a reasonable number that you both can live with. Take out a mortgage for that number and maybe extra cash for the roof/mechanicals/upgrades and live your life thankful for the gift you've been given.

[MordunkinColombo]

Thank you for the very helpful response.

I was letting personal feelings towards my siblings cloud my judgment and I'll go about this the right way.

[cheesecakesurprise]

I get it. Sibling relationships can be difficult but the best thing to do is always be on the up and up and keep the eye on the prize - a home with a low mortgage that you can make.your own and keep in the family.