Prepping Your House for Sale

Last week, I wrote about how to sell your house in 2 weeks or less. Today, I thought I’d give you a more in-depth post about what you’ll need to do just before you put your house on the market.

Prepping Your House for Sale

As tempting as it is to just throw some pictures on MLS and hope for the best, prepping your home for sale is an integral step to selling it quickly. Do the prep work (or hire people to help you!) and save yourself weeks of uncertainty on the other side.

Analyze

The first thing you’ll need to do is decide what needs to be repaired or changed in order to get your house ready for the market.

Do you need to do any major repairs, like change the roof? Are there any architectural or structural changes you’ll need to make? Is there a wall blocking a beautiful view? Does it make sense to add another half bath?

Major repairs cost money, so you’ll have to figure out if the repairs are worth it (i.e., if they’ll bring you a similar return on the house) and how you’ll pay for them. Continue reading “Prepping Your House for Sale”

Sell Your House in 2 Weeks or Less

In the past eight years, we’ve sold two houses. Both times, we got multiple offers within the first days. Here are my best tips for selling your house in 2 weeks or less.

Sell Your House in 2 Weeks or Less www.thethreeyearexperiment.com

Now, it could be a coincidence or good market timing that we sold our houses so quickly. But, we sold our first house in 2010, at the height of the real estate market implosion, and we got multiple offers. Then, we did it again a few months ago when we sold our house in New Hampshire.

When we put both our houses on the market, there was a process we followed to get them ready for sale.

Get Professional Advice

When we decided to sell our New Hampshire house, the first thing we did was reach out to several local realtors. I made sure they knew we were interviewing realtors, and we’d like to schedule a consultation. Each realtor came in, walked the house, and told me what they thought needed to be fixed. One realtor was so specific about everything that needed to be fixed that it almost paralyzed me into inaction. Another realtor told me everything was fine. The best realtor told me the major issues to fix and paint, gave me cost-effective ways to fix issues, and told me what we could skip on the repair list.

Each realtor also provided a market comparison report, and the price they’d recommend listing the home. More on that in a minute.

Fix the Little Things

After we met with three realtors, we had a list of things we needed to get fixed.

  • broken towel rack in master bathroom
  • broken GFI (electrical) switch behind the washing machine
  • broken towel rack in guest bathroom
  • leaking kitchen sink
  • broken front door handle
  • no light in the shower
  • damaged drywall around the master jacuzzi
  • broken tiles in master shower

We had a similar list for our house in Atlanta. We asked around, and found a reasonably-priced and reliable handyman. I asked him to come over and take a look at everything that needed to be fixed and give me a price. I also asked him to buy any parts that I might need to fix these issues. He recommended an electrician friend of his who came over and fixed several of our electrical issues, and ended up being the best electrician I’ve ever worked with. We also called a plumber to fix the kitchen sink.

This stage of the process took about two weeks. It took awhile for all the repair people to come in and get things fixed, but as they were, we were working on the next step.

halway--www.thethreeyearexperiment.com

We’d also changed out several dated light fixtures last year. This is pretty easy to do, or pretty easy to get an electrician to do, and can help your house look much more modern. We spent about $200 on the whole project, for the lights. Continue reading “Sell Your House in 2 Weeks or Less”

Does Where You Live Affect How Much You Save?

Bankrate recently reported that Americans are saving less, despite low unemployment and rising wages. And it turns out that some regions of the country are not as good at saving. On Wednesday, I wrote about the best places to live in the US. But could where you live impact your ability to reach FI, even subtly? Does where you live really impact how much you can save?

Does Where You Live Affect How Much You Save? www.thethreeyearexperiment.com

How Much Do You Really Need?

We’re talking about emergency savings. The article makes the oft-repeated claim that you should have six months’ savings in an emergency fund. First of all, let’s think about that claim: who makes it, and who stands to profit from it? Keeping a lot of money tied up in a checking or savings account helps banks because they then have more money to lend out (they must have 10% of the money they lend on hand). But do you really need six months of savings? Continue reading “Does Where You Live Affect How Much You Save?”

Our Location Independence: Your Questions Answered

After I posted our news that we’re moving to North Carolina this summer and will officially be location independent, some of you had questions. I thought I’d publish a follow up post to answer those questions and hopefully shed a bit more light on some of the decisions we made.

But first, make sure you read this post that details that plan. It contains a lot of information about where we’ll be and what we’ll be doing!

Okay, on to your questions!

The Numbers

Jalpan from Passive Engineering asks, “My question would be on the numbers. How did you decide your original number  and how did you reach the conviction that you’ll still be okay even though you’ve not hit it?”

Great question, Jalpan. When we first decided the net worth number we wanted to hit, we knew it wasn’t the same as our FI number. In order to be completely financially independent, we’d need to save up more than our double net worth goal. But, we assumed that during location independence we’d either:

  • be working full time or
  • be traveling for a short amount of time, like a year

Continue reading “Our Location Independence: Your Questions Answered”

How Fixing What’s Broken Helps Your Financial Life

This post may contain affiliate links. Please read my disclosure statement on the Start Here page for all the fun details. Thanks for supporting the site!

In the months leading up to putting our house on the market, we spent a lot of time fixing the broken areas in our house. Our kitchen sink had been leaking for months and we finally hired a plumber to install a new faucet. There were two plastered spots in the bathroom where we’d removed a towel rack and we painted over them. For the entire time that we’d lived in the house, we’d had a light fixture in the bathroom that we’d removed, because we were scared it wasn’t water safe, and had put a metallic plate over. We finally got a water safe light installed.

How Fixing What's Broken Helps Your Financial Life www.thethreeyearexperiment.com

These fixes cost money, but not near as much as I thought they would. Once I found a handyman and an electrician who’d fix everything, I think we ended up spending around $350 to: Continue reading “How Fixing What’s Broken Helps Your Financial Life”

Putting On a New Roof

Experts say to set aside about 1% of the purchase price of your home each year on maintenance costs. This year, we set aside a lot more than that.

About a year and a half ago, we noticed that our shingles were curling. Every so often, we’d look at our patio and see bits of asphalt from the shingles littering the concrete. We did some research, and found out that our house had been roofed with a type of shingle that was failing across New England. Many homes in our small town had been shingled with this particular company’s shingle, which, unfortunately, were not holding up in New England’s severe winter weather.

Putting On a New Roof--www.thethreeyearexperiment.com

No problem, we thought. Shingles have 15-year warranties, so we’ll just look into that. Well. Turns out, our shingles did have a warranty, but like many things in life, there were caveats:  Continue reading “Putting On a New Roof”

How to Create Beautiful, Frugal Flower Gardens

Do you love to garden? Is Spring your favorite time of year, when the flowers start blooming and there’s color bursting out of every bed?

I absolutely love to create flower gardens. I also know I could spend a small fortune buying plants and shrubs to create the perfect landscape around our house.

Flowers--www.thethreeyearexperiment.com

Since our family is on a three year journey to double our net worth and become location independent, it’s not a priority to spend a lot of money on landscaping when we’ll be selling our home soon. But I love to constantly improve our gardens and so, have learned to save lots of money but still create beautiful flower beds.

Continue reading “How to Create Beautiful, Frugal Flower Gardens”

DIY Mayhem in May

This month, the shower arm in our bathroom has broken, it has taken four different light fixture tries to replace the kitchen light above the sink, and our kitchen faucet has sprung a major leak. We’re getting quotes from roofers in the area to replace our roof. Because there’s a dearth of roofers in the area and the cost of labor and materials is so high, our best quote is $14,000. Yes, that is correct. The cost of a used car. One year of private school education. More than a years’ worth of groceries.

On May 14th, Mother’s Day, it snowed. It rained for fourteen days straight before that. Last week, we got two medical bills for a total of $2,000. We’ve been negotiating a new diagnosis with doctors and the school for our youngest child.

We’ve also had some awesome things happen this month. Mr. ThreeYear became an American citizen on Friday and my dad came up for a surprise visit. After the rain and snow, we got a week full of 80 degree weather and the flowers are blooming. Everything is green and alive. The school year is winding down–as of Wednesday, we’ll have just four more weeks.

American Citizen--www.thethreeyearexperiment.com
We are officially a better nation now that Mr. ThreeYear’s a citizen!

We’re healthy, have a stable and happy home life, reliable jobs, and money in the bank to cover our expenses. In the grand scheme of things, the problems that have besieged us this month are minor annoyances. Continue reading “DIY Mayhem in May”

Closet-to-Bathroom Conversion

Part of our family’s plan for becoming location independent in the next three years is to sell our house and convert the equity into equities (excuse my bad finance joke there). We bought a short sale in 2012 and have lived in the house for five years. By the time we’re ready to move, we will have lived here for seven and a half years. Which is exactly half the length of our 15-year mortgage. (If only that meant half of the house would be paid off…. But I digress…).

closet to bathroom conversion--www.thethreeyearexperiment.com

Since we were fortunate enough to buy an undervalued property, we’re hoping to sell the house for quite a bit more than we paid for it, but to do so will mean some strategic investments. Continue reading “Closet-to-Bathroom Conversion”

Semi-Minimalist Home

Semi-minimalist home--www.thethreeyearexperiment.com
Our semi-minimalist home

I love minimalism. I discovered Becoming Minimalist and The Minimalists about three years ago. I started my minimalist journey with Courtney Carver, of Project 333, and used thirty-three items of clothes per quarter, for about a year. At the same time, I started cleaning out our house, getting rid of things we no longer needed. During one January Continue reading “Semi-Minimalist Home”