Retiring Early

Wednesday, September 13, 2006

Craig's List Experiment


I already mentioned that I've recently moved into a new house. With that usually comes a series of extra expense like new furniture, new window coverings, landscaping and a variety of other little things. The biggest issue that I have right now is that I moved into a smaller place than I used to have and fitting my old furniture into the new space is problematic. (...and yes, downsizing is a GREAT way to prepare for retirement.)

With this challenge in mind, I'm going to try something that I'm not sure will be successful, but it sure will be interesting. My goal is to sell all of my current furniture on Craig's List in order to entirely fund new furniture for the new place. To give myself a little bit of leeway, I'll agree to spend up to 25% more of what I sell the current stuff for to help fund the new stuff. (ie. if the current stuff sells for $1000, i'll spend up to $1250 for the new stuff.) That seems somewhat reasonable.

To answer the question about why I would downsize my house only to buy all new furniture, let me offer the following: The new place is considerably smaller and some of the furniture doesn't even fit through the door! Other pieces of furniture are ok, but they take up way too much space. And again, the goal is to try to fund the new stuff by selling the old stuff. Lets see how we do. Ok, Craig's List, here I come...
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3 Comments:

  • At 9/17/2006 7:58 AM, Blogger mOOm said…

    Hi - I posted an answer to your questions about trading vs. being an economist.

     
  • At 10/07/2006 3:23 PM, Anonymous Jane Dough said…

    Hi fin_indie,

    Thanks for pointing me to your post. You are right - life changes do happen and sometimes you can't anticipate it. I like your idea of selling the pieces of furniture that no longer fit or that you no longer need and using the money made from the sale as your base budget for the new furniture.

    Now that you have down sized do you see this house as one you will stay in for a long time? Will the type of furniture you buy be impacted by the possibility of another move?

    Are you thinking about buying some of the replacement furniture used?

     
  • At 10/09/2006 6:39 AM, Blogger fin_indie said…

    Yes, we intended to stay here for some time (we're preping for early retirement). With that said, hopefully the new furniture that we are buying should be with us for a long while.

    In replacing our furniture, we have purchased some new and some used stuff. For instance we sold a dining room table and chairs for $400 on Craigslist and with the proceeds, we purchased a great old antique oak table and chairs off craigslist. Having been looking at this style table, I know you can pay anywhere from $900 to $2500. But with some hard negotiating and having found a desperate seller, ours was bought on Craigslist for $395. What a steal! Be persistent and you can get some great stuff.

     

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