My plan was to use my IRA money to make the purchase. After I got the house under contract I met up with an attorney and man, I have to say, I have messed things up a bit. I am now faced with making the decision to liquidate the account. My husband and I have spent many hours discussing it and I am truly grateful that he is so supportive in this. He is willing to put everything we have on the line for this venture - and it stresses him out but he is willing. I am so blessed!
I had a home inspector come out to make sure that I didn't miss anything and there were no surprises - I am quite relieved.
Since my husband and I are going to do a lot of the work I have been spending my time getting prices on tile, flooring, cabinets, light and plumbing fixtures, windows. I am still holding firm to my budget and will find a way to make it all work.
Demolition is 11 days away...yikes...I think I should start working out...
Congratulations
that you moved forward and secured the house. It seems you are doing a flip, I hope all goes well and you have a savings for retirement again soon!
It is all about time management
As long as you stick as close or under budget as you could, things would work out. As the renovations proceed, begin to market for a buyer to purchase when all is finished and secure the retirement back in the account for the future. God Bless.
Sandra