How Not to Move Richard Quinn | April 17, 2020
THE SAGA is finally over—18 months and $50,000 later. That’s what my clever moving strategy cost, including taxes, interest, insurance, utilities and some maintenance on the house I hadn’t lived in for more than a year.
My strategy was intended to lessen stress, but instead it did just the opposite. This all started because our 1929 house became too much to cope with, the stairs became too much for my wife—and I resisted moving for too long.
My son the realtor kept encouraging us to move. We finally agreed to look at a condo in a 55-plus community that’s literally 100 feet from our current town line. The new condo meant we could keep all of our friends and community connections built over many decades.
I learned a hard lesson about selling a house: Price matters—a lot. When we decided to move, the collective wisdom of neighbors and realtors was that a good price was about $600,000. Based on that guesstimate, we bought our condo for $580,000. More cash would soon be in our future, or so we thought. Instead, to sell our house, we had to accept $505,000, plus pay $2,000 to remove a previously abandoned and inspected oil tank, and another $3,500 to repair the driveway above where the tank used to be. My advice: If you have an oil tank buried in your yard, get rid of it now.
Read my tips on downsizing at the link below. Avoid my mistakes.
Source: How Not to Move – HumbleDollar