May 27, 2017

How much is enough?

Most of our friends said "congratulations" when we passed on the word that our condo in Arlington sold.

One didn’t.

"You’re a fool," he said. "You could have gotten more money if you had driven a harder bargain."

Perhaps, but how much is enough?

We’re making a 375 percent profit over what we paid for the condo in 1984.

Our Realtor is making good money out of her 6 percent, which averages out to more than $10,000 a day for four days work.

Our buyers, a couple who buys older condos and remodels them for resale, are getting a 30-year-old unit at a decent price and will be able to make money after they rennovate it and sell.

When we moved to Arlington from Illinois 23 years ago, we sold our three-story, four-bedroom circa 1835 townhouse for enough to pay off the mortgage and had just enough left over to make the down payment on the condo in Arlington, moving from a house with 3300 square feet to one with 1320 and financing it with what was — at the time — a bargain 12.5 percent mortgage.

That mortgage is paid off and long gone. We leave that condo and head for the mountains with enough money from the sale to build a new home of our dreams (around 3000 square feet) and still have twice as much left over.

Everybody is happy. Everybody makes money. Would dickering over a few thousand bucks add any satisfaction to the process?

Not from where we sit.

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