Reply to sell as-is vs renovate

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous](I posted this in the Midlife Concerns and Eldercare forum and now I am realizing I should have posted here.)

I am single, age 61, and live in what some on the real estate forum would call a $hit$hack -- inside the Beltway, Fairfax County. [b]House is a split-level and I'm concerned about stairs due to a health concern. House needs serious work in bathrooms and basement, plus landscaping.[/b]

I have roughly $300K remaining on the mortgage @ 2.7 interest. No other debt.

Two kids -- one college graduate living 500 miles away, and one college student attending an in-state school (college fully funded in 529). No other family so nowhere to "move back to." Have been living in DMV for 30 years so most all of my friends are here. Have three dogs who love to run around in large fenced-in yard. College student plans to move back home after college to save $ for a few years while working in DMV.

I still WAH FT but salary (65K annually) does not fully cover monthly living expenses. Have a $1500 monthly annuity and health insurance is covered (FEHB).

I have $1M in a Vanguard IRA and $375K in HYSA, CDs, and cash.

I am trying to decide what to do next. Due to health concern, I would prefer to be somewhat local to docs in Fairfax County. Would become more important when I am no longer able to drive (15-20 years?). I could sell house as is, but don't have the $$$ to buy something I could afford.

I don't know what to do next - should I fix the house (bathrooms, basement, etc.) or just sell and let someone else deal with it? Not sure what I could get for the house -- maybe 550K as is? (Zillow number is $685K which is way over given house condition.)

Is there someone I could ask (realtor?) to advise me how to proceed?[/quote]

I am not fully understanding what the exact issue is here.  Are you saying that the house is no longer livable for you as is without renovation? Or is this more of a convenience, QOL issue? Or are you trying to prepare for the situation where you no longer can climb stairs? If this is the latter then how many more years do you think you have? All this matters. Can you afford any renovations now or do you need to wait till you save more?[/quote]
It doesn’t sound as if OP can save more because her expenses are exceeding her salary at this point.[/quote]

Her current job doesn't fully pay her expenses, but she has an annuity and 375k in cash and will be getting social security in a few years.  The 375k could be tapped for renovations since she also has 1m in retirement for a single person plus an annuity.[/quote]

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