Is it rude to ask how much a house costs?

My fiancee and I just purchased our first house. Before we made an offer, we asked all of our friends what they paid for their homes. The only person who seemed to have a problem with the question was my younger brother, who felt it was none of our business.

Since purchasing the house, everybody keeps asking me how much we paid for it. The question doesn’t bother me a bit, espeically since we were purposely trying to buy well below our means so we could continue to build our savings.

To each his own, I guess. I certainly wouldn’t ask a total stranger what they paid for their house, but it doesn’t seem rude to ask this of a friend.

Barry

This one is a little odd. While I do think that it would be rude to ask the buyer, home sale prices are a matter of public record in most states and are available on the web in many states, including some of the most populated ones. It would take someone about 10 seconds to find out how much we paid for our house last year knowing only our address and this link:

http://govguide.homepricecheck.com/

Go ahead, find out how much your family, friends, and neighbors paid for their house with just a couple of clicks and you won’t even have to ask at all.

What if…

you were considering buying a house for $100,000.00. I asked what you were paying, you told me, and I had the knowledge to let you know the house is only worth $75-80K. Would the fact that I just saved you $20 large be considered rude?

IMO, yes. You did not “save” this person any money at all. A house is worth whatever someone is willing to pay for it, which a very personal thing. It’s not like a TV or a kitchen appliance where there is a generally fixed value. All you have really said to this person is in effect “I think you are overpaying” or “I don’t think your house is worth as much as you think it is”… BFD. All that does is cause that person to feel silly or doubt themselves… great job!

Wow, I feel my knuckles starting to drag…

I guess one issue I have with this is “the slippery slope”- where does it stop? Is it never OK to ask how much someone paid for something? Is it OK to ask how much they paid for a toaster or cake mix?

Two (real life)examples:

  1. Several co-workers, my wife and I have all been doing the Atkins plan. The other day, one of my co-workers found low-carb blueberry muffin mix. The first question we all asked was “where did you find it?”. The second was “how much did it cost?” And would I automatically presume that because they paid less for it at Trader Joe’s than I did at Albertson’s, they have less “spending power” than I do? (The muffins were great by the way, it’s the Atkins brand- $3.49 at TJ’s, though I paid $5.99 at Albertson’s)

  2. During the same long car-ride as the OP, my wife asked my friend’s wife what they pay for car insurance. My friend’s wife responded without hesitation, and in fact, caused us to reconsider our insurance policy. I would think that this is pretty personal, too (Oh, well due to my three accidents and drunk driving conviction, I have to pay…, but they thought nothing of it at all…

** godzillatemple**'s situation is the closest I can relate to, though maybe moving to Sydney would be the best solution…

oceans_11, as I have tried to make clear, there is no slipperly slope as there is a clear dividing line: negotiated pricing.

Where your muffin and insurance examples fall flat is that those items are based on fixed price schedules, are publicly advertised, and are generally not subject to negotiation. Also, your choice of muffin mix and what you are willing to pay for it says very little about you compared to your car and your house.

I admit, I would not have “saved” you $20,000.00 because you’re right, a house is worth what you want to pay for it. But if similar houses in the neighborhood are appraised at $70-80K, and someone is selling theirs for $100K, I personally would start asking questions.

Well naturally, but there is a big difference between what somone is asking for a house and what the buyer actually paid.

If, after the the whole purchase process (during which presumably the buyers did their homework) they still decided to pay $100k, it’s no one else’s business, and if you find out anyway and still think they overpaid, you should keep that to yourself.

to continue…

What is it about the house makes it 25% more “valuable”? Maybe it’s not. Maybe the seller is trying to make as much of a profit as he can (fair enough), but he could also be leaving himself alot of negotiating room.

Paying $20,000 more than you should have to is ridiculous, and I would feel grateful if someone pointed that out to me. It’s not like I’m paying $30 for a $15 toaster. $15 is nothing. $20,000 is more than some people make in a year. It’s in the neighborhood of half my salary.

But car insurance is negotiable, to a point- there may be a market rate for a 1988 Toyota Tercel, but it will change greatly depending on who you go with, and what your driving record is like.

I tend not to judge anyone by either, as I know poorly paid people that drive $50,000 cars, and well paid professionals that rent cramped, one bedroom converted garages. Warren Buffet lives in a modest house and neighborhood in Omaha, Nebraska- yet he’s one of the country’s richest men.

I guess it may be a matter of perception; I wouldn’t be offended if someone asked me what I paid for anything, figuring that they were just curious, rather than the question being some sort of credit check.

Casey I think we’re talking about two different things. I’m talking about what people actually paid for their house, which is the subject of the OP. Certainly if you are in the process of looking at houses, you’d like someone to point out that a house may be overpriced, so that you can offfer, and hopefully pay, less for it.

However, once you had actually purchased the house (and signed a legally binding contract) would you really want your friends coming over and telling you you got ripped off? Even if it’s objectively true (which is nearly impossible to say for something like a house) there are some things better left unsaid, and in the case of the OP, unasked.

When I was recently out of school, I and many of my contemporaries were relatively new to earning and spending decent amounts of money. I thought financial matters - such as the price of a house - were a potential topic of universal interest.

I personally do not consider it rude to be asked what I paid for my house. But IME, the overwhelming majority of other folk do consider it rude.

So, why is it “rude?” Because the majority of people (at least the majority of people I encountered) considered it so.

Note, there is a huge distinction between asking, “How much did you pay for this house?” as opposed to “How much are houses going for in this neighborhood?” People are generally far more willing to discuss what OTHER PEOPLE are paying for their homes, than what they did themselves.

And you can always get a ballpark estimate for an area by checking listing prices on any of the on-line listing services.

OK sorry for the hijack, but I just wanted to point out that that is not true. The adjustments are all based on tables and preset levels and are not really negotiable. In MA for example (which is admittedly not the best example) rates are set based your driving “level” which is freely available information, as well as the type of car, etc.

As for “who you go with” thats sort of a non-sequitor, as competing companies usually sell things at different prices, but that’s not negotiation… :wink:

OK hijack off

Bingo! And the people I’ve asked seemed more than happy to talk about it- in fact, even giving me details on financing, re-financing, down payments, etc. And what better way to learn- in real life terms, rather than statistical information?

But, apparently, it seems, rather than a “topic of universal interest”, most people here would consider it an unwelcome probing of their financial situation.

I suppose, but personally, I would welcome that sort of feedback. Maybe I’m not typical, though. If I did pay $20,000 more than what the other houses may be valued at (that $20K being on a $100K house…what’s $20K on a $3M mansion;) ), what kind of “mistakes” did I make in the negotiating process that I maybe could avoid if I move and have to purchase another house? What lessons can I learn that I can apply to future major purchases? I certainly don’t want to always pay thousands more than I should because I don’t know to do something, and someone feels it’s rude to tell me. I think it’s rude to let me keep pissing away money like that:p .

So, racekarl , I can pick up what you’re laying down, and to some degree, I agree with you. But in the overall picture, I guess my answer to the OP, IMO, is no.

oceans_11 - I also find matters of personal belief interesting. But, I have managed to offend any number of folk with my attempts to discuss - not debate - such.

It is interesting, the list of things a person considers private. Everyone has such a list, but folk differ as to their personal boundaries. IME, many many people include their home purchase price on that list.

And topics get increasingly taboo the more personal they get. Everyone is interested in sex. But relatively few people care to inquire into - or discuss - their friends’ and families’ personal preferences, practices, etc. And not just because of the nature of the sex act, but because of all the possible inferences/guesses one might reach from such info.

A house purchase is the largest financial transaction most of us will ever participate in. And it touches so many other aspects of our lives and personalities. What does it say about a person who is willing to pay $500G, instead of $200G one town over. What are the implications on the rest of their finances? What family dynamics went into making that decision?

I think asking the purchase price is not necessarily the simple question it may appear.

It is unfortunate that for “safe” conversation we are often reduced to the weather and sports.

I also think there are series’ of stages in peoples’ lives, where their interest in and amenability to such questions might vary. Like I said, when I was first out of school, I was pretty interested in how much things cost. And folk who recently bought might either be proud, or embarrasses/nervous over what they spent. I was in an information-gathering stage about living as an adult.

Now, in my 40s, I have a pretty clear idea of how much I can afford, how much big ticket things cost, what my financial prospects will likely be, etc. And I’m not all that interested in what other folk pay for things.

One area “older” folk seem to express interest in - and more willingness to discuss - concerns appreciation. I.e., “I paid $200G 10 years ago, and the same house one street over just went for $275.” Of course, once you’ve owned a home for a few years, the purchase price becomes less meaningful. With the exception that it may say someting about the mortgage you carry. Another matter folk might consider private.

The info is easily accessible if I want it. So I find it easier to avoid any possibility of offending the other person merely to sate whatever curiosity I might have.

Again, tho, ballpark figures are far more acceptable than specifics. “How much do homes go for in this neighborhood? High 200s?” Few folk would resent such a question, and IMO few folk should need a more specific answer in social conversation.

I distinctly remember asking a co-worker not what he paid for his house, but what the asking price was. I think this let him maintain his privacy, and he had no problem divulging this publicly available information, but there are some caveats: he is actually a pretty close friend, he knew my wife and I were in the market for a house, and housing prices in Boston are very much a subject for casual conversation (they are too high).

My brother and male cousins and I all know what each other paid for our houses, although if our wives found out they would probably kill us :smiley: .

ha, why don’t you tell them what they paid for their house & what their neighbors paid, then you won’t need to think about being rude?

Just input it at:

http://www.domania.com/homepricecheck/index.jsp

aka homepricecheck.com

When I was working in agriculture, I was taught that the rudest possible question to ask a farmer was “how much land do you own?” because it was tantamount to asking his net worth. Instead, we were told to ask “how much land do you farm?”

Since a good deal of most people’s net worth is tied up in their homes, I follow the same rule.

I still believe that it is a topic of “universal interest”, but since I’m not really looking to offend people (well, most people anyway), I should probably learn to start asking “safer” questions. So, how about them Dodgers…?

But I’m still going to ask what they paid for their computer, dammit! :smiley:

Dinsdale, the topic of appreciation comes up alot in my area (Santa Barbara, CA.), because housing here is outrageous. A median home (nothing special, maybe two bedrooms, 20-30 years old) runs $650K last time I checked. I think the people I’ve spoken to are much more willing to divulge what they paid because they’ve seen appreciation of $100K to $300K in the last 3-5 years, and they’re completely amazed.