2 or more homes

[K. B. Sharkstooth]

I'm planning on retiring in 6 years at age 50 and own a house in Chapel Hill, NC and a condo on Kure Beach, NC and plan to live at both places off and on. Has anyone else kept 2 places in retirement.

K. B. Sharkstooth

 

[John Galt]

Yes, we are keeping 2 places in retirement, but we are working it out on the fly. Our main home is waterfront
in northen Illinois. We also own a condo in north Texas
on Lake Texoma. So far, the condo is just a rental with
pretty good positive cash flow. We would prefer to use
it ourselves, but circumstances prevent this so far.
I never planned for "snowbirding" as I was convinced
we could not afford it. Now, not so sure, but I do have
a certain lifestyle which must be maintained. Not sure
if this is doable. For one thing, I MUST have a large
power boat. This is non-negotiable!

John Galt

 

[cute fuzzy bunny]

We have two but we're going to be selling my wifes old house as soon as I'm done painting it.

I think you need a heck of a fund reserve to maintain two homes in ER.

 

[K. B. Sharkstooth]

Hi John, I rent my condo out during the high season and that covers 3/4ths of the costs. It's only 2 1/2 hours away so we go down every other weekend off season. When we retire we hope to spend weeks at a time at the beach.
I think you've got the right idea buying places on the water. They seem to appreciate more than other properties. I paid 70K 6 years ago for my place at Kure Beach and now it's worth 300K.
I would like a big boat but would have to sell the condo to buy the boat.

K. B. Sharkstooth

 

[BUM]

Our townhouse-by-the-sea is VERY rentable but at this point I feel like the papa bear, "Whos been sleeping in my bed?"

So far I'm resisting the temptation to rent.

BUM