‘I have $400,000 in equity’: I’m 80. Should I sell my house because of dangerous stairs — or spend thousands renovating?

SO THEY HAVE FINALLY ADMITTED IT, LIKE RIGHT IN MARKETWATCH THERE IS AN EIGHTY-YEAR-OLD PERSON WITH FOUR HUNDRED THOUSAND DOLLARS IN HOME EQUITY AND DANGEROUS STAIRS, AND THEY ARE FACING THIS MASSIVE PORTFOLIO DILEMMA BECAUSE DO YOU SELL THE ENTIRE HOUSE OVER THE STAIR SITUATION OR DO YOU DROP THOUSANDS OF DOLLARS RENOVATING THE PLACE, AND THE THING IS, ALL THE FINANCIAL ADVICE THEY HAVE BEEN READING IS TELLING THEM DO NOT SELL UNDER ANY CIRCUMSTANCES BECAUSE THEY ARE SITTING ON A LOW-INTEREST-RATE MORTGAGE, WHICH IS WILD BECAUSE YOU ARE EIGHTY YEARS OLD WORRYING ABOUT MORTGAGE RATES VERSUS TRIPPING HAZARDS, AND NOBODY SAYS WHAT THE RENOVATION WOULD ACTUALLY COST OR WHAT THEY WILL CHOOSE, IT IS JUST PURE ASSET MANAGEMENT VERSUS GRAVITY, OK BUT ARE YOU SEEING WHAT I AM SEEING?

RIGHT I NEED THIRTY SECONDS OF YOUR LIFE IT IS LITERALLY LIKE DECIDING WHETHER TO THROW OUT A CHIPPED COFFEE MUG OR PAY A CERAMICIST TO REBUILD IT, SO IN MARKETWATCH THIS EIGHTY-YEAR-OLD IS SITTING ON FOUR HUNDRED GRAND IN HOME EQUITY AND HAS DANGEROUS STAIRS IN THE HOUSE, AND THEY ARE LEGIT WONDERING IF THEY SHOULD LIQUIDATE THE REAL ESTATE OR BLOW THOUSANDS ON HOME RENOVATIONS, WHICH IS WILD BECAUSE ACCORDING TO THEM EVERY PIECE OF EXPERT ADVICE THEY HAVE READ SAYS NEVER SELL DUE TO HAVING A LOW-INTEREST-RATE MORTGAGE, AND THE THING IS AT EIGHTY YEARS OLD YOU ARE JUGGLING GRAVITY HAZARDS AGAINST OPTIMAL DEBT YIELD, AND NOBODY SAYS WHAT THE FIX COSTS OR WHAT HAPPENS NEXT, JUST LIQUIDITY VERSUS STEPS, ANYWAY I WILL BE FURIOUS ABOUT THIS TOMORROW.

An 80-year-old homeowner with $400,000 in equity is deciding whether to sell over dangerous stairs or renovate, despite general advice against giving up a low mortgage rate.

Named in this and it is not fair or not accurate? Write to us — we correct or remove within a few days.