Reply to sell as-is vs renovate

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[quote=Anonymous]It sounds like you have a pretty good situation with a low mortgage and a good location.   If you otherwise like your home, just plan to live indefinitely and renovate to make it work for you.  Don't worry about resale, worry about it being a good home for you for the rest of your life.
If/when your college kid comes home to save money set up a plan where they do a lot of the heavy lifting home maintenance in exchange for their cheap/free housing.  There are many things that just take time, strength and mobility rather than expertise.  It's good for them too to get the home maintenance knowledge.

See if your neighborhood has any senior services around 'aging in place' -- I know our neighborhood does--somebody comes in and helps you think through some of the issues.   Can you reach the basement without stairs?  If you renovate that for a roommate, it could also serve as a place for you if you lost the ability to easily handle the stairs and then you could rent out the upstairs (or move at that point).

I'm currently helping my older parents think through staying in a split-level home they love (they are in their 80s but are still mobile).  They can enter their basement through their garage with no stairs.  What we've done is change the half-bath downstairs to a full bath with an accessible shower and handicap bar etc.  They already have a guest bedroom down there.  That way if either of them had an injury that impeded their ability to use stairs, they could live in the basement while we worked things out rather than having to go to a nursing home. We also got a quote from a lift place and an analysis of where we could put it most effectively (for them it was garage to upstairs bedroom closet) if it was a more permanent loss of mobility.  They are not there yet but we figured it's good to know if a lift is even a possibility.   We also just personally figured out what it would take to add a small IKEA kitchen to the downstairs and what they would want for that.  It could become a live in apartment for either them and rent out the upstairs (or have another family member live upstairs), or it could be a rental or for a live-in home health aide or for a family caregiver too if they got the lift instead. My main point is that it's worth it to think of the renovations needed for mobility to more realistically compare the cost to moving.  For our family it gave us much more ease of mind to map out the costs and logistics of various plans.[/quote]

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