Well Peeps, it’s official….
We’re listing the house….
Renovation plans for this house have been kiboshed due to the cost and time involved…
Let me rephrase that…
OY. EFFIN’. VEY…
Wednesday’s meeting with Realtor Lady was a big success, she loves the house, it’s great, it’s wonderful, it’s awesome, blah blah blahdiddy blah….She really seems very nice and she came highly recommended. Bonus: if we also use her for our buying Agent she cuts her commission on selling our house to 4.5% and that my friends is a couple Grand back in my pocket so YAY for that!
Just for shiggles (y’all remember what that means right??? Shits and giggles for the middle-aged who are easily flustered causing them to spit out words that don’t exist) Hubs and I took a fact-finding drive around the area yesterday to see what’s out there for sale that we might like.
We found quite a few properties and our options were wide and varied ranging from “move-in ready” but slightly above what we were hoping to pay to “right on budget” and spacious but needing some cosmetic updates (meaning it’s pretty vanilla for this New York Super Fudge Chunk girl) to potential laden “Cheap but spacious fixer-upper” coming in WAY under budget.
Our heads were spinning…
When we first began the “Great Move or Renovate Debate of 2012” our original plan of attack if we decided to sell and move was to find “Move in ready”, after all, why go to the trouble of moving only to renovate anyway right?? We even found 2 great properties that we wanted Realtor Lady to set up tours for…..and then we came home yesterday and started contemplating (meaning stewing to the point of obsession) the cheap fixer-upper options.
The biggest “pro” to the cheap fixer-upper is huge; half the mortgage amount for a 15 rather than 30 year loan allowing it to be paid off by the time Hubs is 53 at the latest. (Y’all remember that I put the COU in COUGAR by snagging me a man 12 years my junior right??) The biggest “con” is of course the sweat equity aspect.
We decided to focus on finding a property with plenty of square footage and yard space that needs cosmetic updates as opposed to structural ones that can be renovated for the money we profit from selling our current home. We can handle installing new cabinetry (or re-doing the existing if it’s in good shape), crown mouldings, wainscoting, new flooring, bathroom fixtures etc. Ditto for stripping God knows what off walls and repainting and with help from our more DIY renovation savy friends, we can learn the skills of knocking down walls and replacing windows.
What we can’t do is replace a roof, update plumbing or electrical systems or foundation repair so those are the things that our perfect fixer-upper can’t need.
The only real question now is do we list right away or wait til Spring when traditionally a better time to sell? I’m leaning toward waiting so it gives me time to do all the little things I want to do that will make the house seller faster without feeling overwhelmed. Plus, there’s the Holiday’s coming up and who want’s to be showing a house when you’ve got Turkey’s to baste and tree’s to decorate??
This my friends is going to get very, very interesting!