When you're listing the acquiring price of a home you built, do you use the loan amount or the evaluated amount as the original price?

[DanP0428]

Appraised value. You could ask a real estate agent for help.

[JohnB5677]

No, you do not use the loan amount.

To determine the Basis of a home that you built, it will include:

• It's the cost of the land,
• plus the cost of the construction and (contracted labor plus material & supplies)
• permits & architectural drawings
• any other improvements to the land (bringing in a sewer, water, gas, etc.),
• plus any further permanent improvements since construction.

You can not count the value of your own labor if you did the work yourself.