(04-10-2023 02:24 PM)Hambone10 Wrote:  

(04-10-2023 01:58 PM)Rice93 Wrote:  What is the estimated value of my friend's gift? Zero because he already owns the house (sunk cost)?

There are a dozen ways to define 'value'. Yes... Zero is exactly what it cost your friend in terms of dollars to let you use his home. I suspect that is precisely how he is looking at it. The first question I'd ask... is if a friend said they wanted to visit Paris and you kept an apartment there that wasn't being used... would you not offer it to them?? More though I'd ask you a different question.... and that is why you're trying to assign a dollar value to your friendship??

If your question is a more academic one... as in, whether that gift is more valuable than the neighbor who watches your children or your pets for the weekend... then a whole new door has been opened to speculation. I haven't done it in a long time, but I seem to recall paying a teenager $15/hr or so to watch my kids... but the VALUE of what they did was probably without measure.