Based on the fact that I have not had the time to make the repairs and do the things necessary to put my house on the market, I am seriously toying with just sitting tight until the market rises a bit or until I retire. This is a tough decision.
On the one hand, if I don't do anything I will not lose by selling in a down market but will also not take advantage of lower prices available due to the number of short sales and foreclosures still out there. On the other hand, purposely waiting may yield better long-term gains, especially if I replace my horrible old single-pane windows and make sure everything is up to par and in perfect working order before selling.
The problem I run into is day-to-day upkeep. I simply can't handle the routine cleaning and maintenance. Maybe if I have a maid service come in once a month it will buy me the time to do some remodeling such as replace the windows (which will yield savings in terms of AC costs), replace the kitchen cabinets and maybe put in a pool. These are all value-added and I could enjoy them while still living here.
I guess I will have to add up the costs and see what makes sense in the long-term. If I stay here, it will have to be for another two years in order to really make it pay. Another two years would take some of the pressure off of me and I can get rid of excess furniture and things in an orderly fashion so that when the time comes to move it will be under my own terms and not those of a self-imposed deadline that really has no basis in necessity.
My location is good and many of my neighbors in this area are making improvements, expanding or remodeling during this down time. Although I only go in once or twice a week, I am only 25 minutes away from the office. My next time off is in late August. I will keep plugging away until then and if I make significant progress I can still put the place on the market. It may make sense to hold off until next Spring, which is a traditional home-buying time.
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