|Forum topic by lumberjoe||posted 367 days ago||1357 views||0 times favorited||48 replies|
367 days ago
My wife and I made a decision a few years ago to move into my in-laws house and take over their mortgage. They moved into a small apartment. They have a very sizable tax lean on the house. The goal was they pay the tax lean off over a 4 year period, we buy the house for the remainder of the mortgage when paid off. Sweet deal right? If would have been except her scumbag mom hasn’t made a mortgage payment in 8+ months (despite us paying her more than the mortgage value) and he house is foreclosed.
We are going to have to rent for the time being as we do not have time to secure a mortgage and close on a different house. We also have kids and want to keep the environment as stable as possible, so we will rent a place for at least a year or two then purchase our own home. Because we DO NOT want to change school systems, our options are limited, and I will have to forgo shop space in the sake of family stability. So I guess this is goodbye for a while.
My question is, does it make sense to put my larger tools in storage, or just sell them? I plan on keeping everything but my table saw, planer, band saw, and drill press. Everything else is fairly small and can be stored in my parents basement. A storage unit runs about 150/month. At a minimum of 12 months, that 1800.00. At full retail prices, those items would cost me about 1,400.00. Since everything is fairly new, I could easily sell them for about 700.00 (fire sale prices) and realistically 1,000.00 if I get selective.
However, the stuff I have is nice. It’s perfectly tuned, free of the little defects some people have, and I have a bunch of jigs and what not specific to these machines. I am leaning toward selling, but would like some opinions.