A Financial Resolution for 2008
December 4, 2007
As part of a contest at Cash Money Life to win an iPod, I have decided to make a personal finance resolution for 2008. Actually, I have two, because one of them may be out of my control.
What are my goals? First, to sell my house without a real estate agent this year.
This is my ideal goal. I’m currently finishing my graduate studies and am on the job market for next fall. Provided I get a “real” job somewhere, I want to sell my house without paying a hefty fee to a realtor.
How will I do this? Starting in January, I plan to read several books on the FSBO process, probably beginning with something like Home Selling for Dummies.
Goal Breakdown (SMART Approach)
- Specific - I have only one house to sell, and I plan to learn the ropes necessary to sell it legally and efficiently. After reading several books and websites, I will list my house on Iggys House.
- Measurable - Either I am able to sell my house independently, or not. Part of that is out of my control. If not, then I certainly will have learned a lot in case I try to sell a house again. No matter the outcome, I will write articles on the overall process.
- Achievable - It’s in my best interest to learn as much as I can before I begin the process. For me, the action will begin with a trip to my public library. I will buy or borrow other books. The goal of selling my own house is achievable, though the final decision does not rest in my hands.
- Realistic - Selling the house on my own will save me thousands of dollars in realtor fees. Even if it fails, it won’t break me financially. Since I have no desire to buy and sell property as a career, I feel this is a realistic goal.
- Timely - I have until mid-August to sell the house on my own.
Goal Two
Whether I am able to sell my own house or not, I am also going to establish a “moving” fund. Many jobs in my field offer a benefit package to help new hires relocate, but some of them do not. Just in case, I plan to save $1,500 of future income as reserve money to help pay for costs involved with moving hundreds/thousands of miles.
I will do this by saving $200 every month from January through August. That will give me a total of $1,600. Hey look, I even have a $100 buffer.
If my job actually provides a “moving” package that covers my costs, I will dump my accumulated contents straight into my Roth IRA.
There are many exciting months ahead!
Useful Links:
Do you want to be free from your debt? IVA is the real alternative if you are facing bankruptcy.
Posted in 
content rss
December 4th, 2007 at 7:35 pm
Great goal! Thanks for sharing, and I hope you do it!
December 5th, 2007 at 6:35 am
[...] Money wants to sell his house without a real estate agent in [...]
December 16th, 2007 at 10:24 pm
Great post!! Everyone should follow your lead!
Steven Burda
http://www.linkedin.com/in/burda
December 22nd, 2007 at 4:13 pm
About 10 years ago my brother sold our house without an agent, in a v-e-r-y slow real estate market, without spending a dime. Here’s how he did it:
He just asked everyone he met - and I do mean EVERYONE - from his best friends to the minister at his church to the cashier at the supermarket to the man behind the counter at the drycleaners, and everyone in between: “Do you know anyone who’s looking to buy a house right now? The reason I ask is, my sister’s getting ready to sell her house and you could get a good deal by looking at it now, before she signs with a realtor.”
Turned out the woman who cut his hair had a friend who was looking for a house in our price range in our school district, and voila!