Last Friday we closed on selling my condo in Alexandria, VA. I wish the new owners well, and I hope that they enjoy it. Amy took a look at it before it closed and it has never looked better. Completely remodeled with new carpets, drapes, paint, water heater, and so on. After everything including the remodeling, the closing costs we included, and the loss we have been taking on the rent (vs mortgage) over the past five years (to include our tenant walking out on us), I think I would have taken a total loss of about $100K. Now, some of that was offset by tax breaks, but not all. It was a bitter lesson to learn. I am glad that I only bought what I needed (small condo) and not what I could have gotten a mortgage for (nice house).
We are both thankful to have cauterized that wound and now we can start rebuilding our savings. Amy’s already bought a new mattress, and maybe later we’ll get a new tv as well.