Reply to sell as-is vs renovate

Forum Index » Money and Finances

Reply to "sell as-is vs renovate"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]Smart renovations can lead to an ROI on the sale.  Though depending on the condition, you may just be better off selling as-is.

There are 1BR condos to be had for 300-400k which would involve minimal debt.

You could also move to a lower COL area considering you WAH.

What about Charlottesville?  Baltimore? Good healthcare.

Tell your college student you’re not in the financial situation to have a 2BR.  You fully funded college which is a massive boost.

I would worry about the cost of maintaining this house spiraling out of control given health concerns.

I’d downsize when you are doing better health wise. CVille or Baltimore, for example, isn’t that far from your friend group.

If you’re not meeting your costs now on your income, keeping your house isn’t an option whether you renovate or not.  And renovating in this housing market is a huge risk.  Dump the house, take the equity, and figure out the rest.  [/quote]

She has limited options with 3 dogs if these are big dogs.  Condos may not allow this, and in a TH have stairs...  She needs an SFH and sounds like the one she has is the cheapest option she can have if she wants to stay here and have access to medical amenities.  She will need a rambler that's already 1 level living and not too dumpy to have to face the same issues.  She will likely have to compromise on the area, maybe move further out or into a less affluent neighborhood.

I didn't read all of it, but it might be that doing slight renovations to make the house more accessible would be worth it, also having your grown kid move with you and help out in exchange for free housing.  Latter option is getting more popular with younger people not able to afford in premium areas unless in high paying fields. You could also have your kid(s) live in the house full time while renting an apartment for yourself with kids taking care of dogs until you have budget to renovate.   I would not spend extra to try to make it HGTV worthy for resale, and I would not spend on landscaping beyond removing any hazards or really rundown parts.  Focus should be on maintenance to replace broken things and maintain safety and also on accessibility. [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics