Need Advise on Selling or Keeping Our Home
We have owned our home for 6 years and bought for $430 and currently owe $350 at a 2.8% interest rate. Built in 1962 and a great property on 0.5 acre. The problem is we are constantly doing projects, remodeling, or yard maintenance. The landscaping is beautiful, but time consuming. We have spent over $60 g already on projects and still need to do the siding and other expensive upgrades. Our house would not make a good rental or this would be my answer. With the current market, we could not afford another home this nice in our area and would never get a 2.8 rate again. I want to sell in the next few years, but don't see how it's possible. Do we keep dumping money into our home? I have toddlers now and my priorities have shifted and want to live more simply. Please advise because I'm torn!
Most Popular Reply
#3 Managing Your Property Contributor
What condition was the home in when you bought it? There are always going to be things that need to be done when you own a home-most of the time they are small things, but not always. Some things can be changed to make less work. The yard is a good example. No yard will ever be completely maintenance free. What is it that takes time? If you have a large garden, downsize it or see what you can do to reduce the time it takes. Grass-add in automatic sprinklers (doesn't have to be fancy, a simply timer and garden hoses attached to sprinklers). Are there things you can hire out that will save you time?
Your kids won't be toddlers forever. Think 5 years down the road-where do you see yourself? Can you find another home in the area that is better suited to your needs? If so, then spend the fall and winter doing what you need to do to get your home ready to sell in the spring (usually the best time to sell).