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Real Estate: Tom Kelly
The Real Estate Adviser |
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April 23, 2009
Tom Kelly: Converting your home to a rental gets harder
The housing market has been as uncertain as the next monthly unemployment figures. Families have put home purchases and remodeling projects on hold, waiting for a positive sign in consumer confidence — or an upward, consistent move in the stock market — to make a big-ticket decision.
A friend of mine, whose two daughters are grown and gone, would like to remodel a home in the neighborhood, sell his present residence and then move into the remodel. Given the present conditions, he doesn't feel he can do either. He's uncomfortable investing a ton of dollars on the remodel that he may need for day-to-day expenses and he's afraid there's already too much inventory on the market to list his home for sale.
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Previous columns:
- The Real Estate Adviser: Real estate in Mexico continues to appreciate, 04-16-2009
- The Real Estate Adviser: News reports can't dim Mexico's allure, 04-09-2009
- The Real Estate Adviser: How to age-proof your house, 04-02-2009
- The Real Estate Adviser: Will boomers retire with any assets left?, 03-26-2009
- The Real Estate Adviser: 30-year, fixed rate may not be your best option, 03-19-2009
- The Real Estate Adviser: New reverse mortgage rules will help seniors, 03-12-2009
- Clean credit will save you more than money, 03-05-2009
- Tom Kelly: ‘Qualified' buyer? Better be ‘perfect' to get a loan, 02-26-2009