$$ for renovation advice

Okay, kind of odd to put this up on a motorsports forum, but I know how resourceful and well informed (some) of your folks are, and I (generally) trust your opinions, so....

My wife and I would like to sell our house and move one town over since we both work in said town and most of our social life (church, etc) is going on there. Also, target town is developing a much more active culture/music/lifestyle scene. We've been considering this for a while, but my job is now moving to the opposite side of target town, increasing my commuting budget by about $200/ month.

We've been lax in some maintenance issues- needs exterior paint, flooring in a couple rooms,- stuff like that. There are several medium sized projects that also need to be done before putting it on the market as updates to the house. We don't have the disposable income to tackle these in short order.

What's the best way to get it done? Home Equity loan? How do those work? I'm not sure we're in a position to do it. We've owned our house about 7 years on a 30 yr mortgage. It's probably worth 20-30k more than we owe, give or take.

Any other ideas / methodology? I'm open to suggestions of all kinds. Okay, almost all kinds....

What would be the hit you'd take to valuation if you sold as-is? May want to see if you can get some numbers around that decision before you go about trying to finance.

Devil's advocate of myself - as a buyer, I am finding myself favoring homes that have had this stuff done, but I think the question is still worth asking.

Paint is labor intensive, but not too expensive. Try to do the outside yourself. If you need floor covering, shop, shop, shop. I would borrow money as an absolute last resort. Paint gives the best "Bang for the Buck" for getting a house ready to sell. I watch too many of those TV shows!

Flooring is actually not too hard if you are willing to study up on what it is you want to do. Floating Laminate floors are super easy, and can be found in very attractive patterns and style. Tile takes some time and setup work to get right, but can also be done much cheaper yourself than paying a pro. I dont mess much with plumbing or electrical, so youre on your own there. Also, +1 for paint being the best bang for your buck. And de-cluttering a space is nearly free and also VERY effective at making your space look its best.

Long and short is that if youre willing to do some research and read a few books, theres really quite a lot that you can do to save yourself some bucks if youre willing to get sweaty and dont mind disrupting your life for a few weeks at a time while youre reno-ing.

p.s. start watching DIY network and HGTV fr some good, inexpensive revenue generators.

If you are thinking about selling, it seems to me the best bet would be to bring in a realtor now to give an appraisal before and after repairs are done. This should help to avoid potentially borrowing more than the house is worth.

Like cwh, I watch too many of those DIY network shows... so my first instinct would be to do as much as possible within your current means. Unfortunately, this may require some sacrifice of 'fun time' doing activities you enjoy.

+1 for de-cluttering... if I wanted to sell my house, one of the first things I'd have to do is rent a storage unit and move half of my crap out so it didn't look like a bike shop and auto parts store exploded within (no live-in SWMBO to keep me in check here).

I'm not that far from you. I can tell you that in central GA the real estate market is tight enough that you MUST do everything you can to make the ABSOLUTE best presentation you are able. Do not try to sell it as-is- it's just not the market for it.

That does not mean to undertake every remodeling project you dreamed of in the last 7 years. It means clean things up well and make a good presentation. I have recently detailed several houses getting them ready for sale- a few thousand up front has led to a very quick sale in each case- money well spent. Paint is by far the biggest bang for the buck.

How active is the market in your local area? How optimistic is your $20-30K?

Home equities are a little tough right now. Perhaps you can work with a contractor who will finance in part? There are not too many contractors willing to do this, but some might (I would).

If you want a bit more help from a contractor, PM me.

yup, paint and elbow grease go a long way. There are even products for changing counter tops and bath tubs. Haven't tried those myself so YMMV. Sometimes its not what a buyer can see, it's what they can't see. Keep an eye out for sales and "scratch / dent" items at home centers. I scored a $750 water heater for $200 that way.

Contact a rental management company. Right now (being a buyer's market) you might be better off renting it out and letting a third party handle the dirty work.

It may turn out to be a complete waste of time, but its at least another option to explore. Selling right now might not be the smartest thing.