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Dave Says

Dave Says
Dave Ramsey is America's trusted voice on money and business, and CEO of Ramsey Solutions. He has authored seven best-selling books, including The Total Money Makeover. The Dave Ramsey Show is heard by more than 12 million listeners each week on 575 radio stations and multiple digital platforms. Follow Dave on Twitter at @DaveRamsey and on the web at daveramsey.com.

Sell As-Is

Sell As-Is

Dear Dave,

My husband and I are about to relocate to another part of the country. We'd like to sell our house, but we're thinking about taking out a small loan to have some work done first. We could get in the $180,000 range selling it "as-is" but closer to $200,000 if we installed new roof, carpeting, exterior paint and concrete work. I know how you feel about debt, but what are your thoughts in this scenario?

Kim

Dear Kim,

From what you just described, and assuming the concrete work wouldn’t be too extensive, you looking at going into debt probably $12,000 to $15,000 in order to get $20,000 more out of the deal. I’d just sell it. I wouldn’t go to all that trouble for $5,000.

Every piece of debt you take on compromises your financial security and robs you of your largest wealth-building tool—your income. Even if you guys are in good shape, you’ve got a lot of uncertainty and the potential for unexpected expenses in the months ahead. Just sell the house and get on with your lives. It’s not worth the hassle.

- Dave


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Dave Ramsey is America's trusted voice on money and business, and CEO of Ramsey Solutions. He has authored seven best-selling books, including The Total Money Makeover. The Dave Ramsey Show is heard by more than 12 million listeners each week on 575 radio stations and multiple digital platforms. Follow Dave on Twitter at @DaveRamsey and on the web at daveramsey.com.
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