A few months ago I posted about a small house for sale that we could almost purchase from our equity if we sold our house and downsized. We felt like it was a good plan, but the amount of work required to list our house was overwhelming. The house was also around 800 square feet and while I love the idea of downsizing, that felt extreme. I just wasn’t sure it was what we wanted. That house sold and we went back to status quo, with just a little headway on the decluttering process.
Each month that ticks by gets us a little more equity and a little closer to an easy transition to sell our house and downsize. Here we are in September and a major fixer upper has been listed for a sale a few days ago. It’s in our ideal area and same school district and has more reasonable square footage. It is majorly affordable, as it is a DUMP, but the land is nice and it has potential.
Once again, I run the numbers and it’s tight, but possible, to own it outright from our equity. We could then spend the next year cash flowing renovations. We could potentially be in a fully paid off home, renovated to our liking by this time next year! WHAT’S NOT TO LIKE ABOUT THAT?!?
To make it remotely possible though, we need to start taking action. I feel paralyzed by how much needs to be done from decluttering to repainting to minor remodels to maximize what we can get for our current house. I worry that by the time we accomplish those things, this house we’re considering will be sold and then what?
Well, then we will have a slightly updated home that is ready to sell the NEXT TIME the “perfect” (aka, major project) house comes along. We need to start taking action, even if we don’t know how it’s going to turn out or what choices we will end up making with our home.
Next week Mr. PoniesandFIRE is on vacation and he has a list of projects that all need to be done if we want to sell, starting with cleaning out the garage. I thought I was going to be away at a horse show with students all week, but turns out I will be back Thursday afternoon, so I am making my own list of things and using the time I already took off to get stuff done.
We are planning to go crazy for the next 9 days to see what we can accomplish and then sit down and talk about what we do next, if we are ready to talk to a real estate agent or we want to wait. Wish us luck!