So the bathroom is like 97% done. There are only a few small things left to do, but first the bathroom needs to be used for a week to make sure the fixtures that I put up work and have no problems that need to be addressed. Then I can put the finishing touches on the bathroom and call it done for good. I am not really sure what it is I am going to do next, but I am sure that there is going to be another project around the house for me to work on, after all we aren't lacking in that department.
However before Istart a new project I think the plan is to call in a Real Estate agent to look at the house and give us an estimation on value and sell time so we can decide what to do with the house for when I graduate. With the economy the way it is now it may take the whole 7 months for the house to sell. However we have put in a lot of work into the house and it may be one of the "nicer ones" in the area so it may go faster than the others in the block. Who knows. I just hope we can break even on the money we put in. If we had sold during the good times with all our improvements we would have easily seen additional 20-25k in equity. But now we may have to decide between a faster exit or a higher return.
The third option is to rent it out using a property managment place and hold on to it until the market improves. Which for Ut is expected to be by the end of 2011 or mid 2012. If it comes down to it I am ok with option 3 as long as we can rent it for enough to pay the mortage and the management fee, which may mean we need to refinance. Meanwhile I still need to find a job so we dont eat through all of our loan money before we move. So wish us luck.
The Fat Dance
1 month ago