First let me set the stage: two week I called my HR department to find out what our healthcare cost would be in retirement. My rough budget for health insurance was a conservative $2,000 a month (The Mrs, Daughter, Son and I) which incidentally is more than the social security I'll start receiving in 14 months. They quoted 1765. No complaints It is what it is. I'll check out OCare. So figuratively speaking - I am on the 18th and can see the clubhouse. So as we ponder on where we want to live in retirement. I thought I'd share two newly retired couples lifestyles - my relatives that we just visited.
Jane and her partner built a brand new 2500 plus sq ft designer three bedroom terra cotta roofed Spanish style home in a very desirable Florida neighborhood. On this block all the homes are the same model. The lots are fairly small the homes backs face a man made lake (complete with an alligator or two). Large lots require more upkeep and no one wants them I am told. Even though here the landscaping is included in the HOA fees. Their home has a massive great room, huge sliders that open on to the obligatory paver patio and screened in pool. - all right out of a magazine. This is the best of 'florida outdoor living' The kitchen features a an oversized island (at least 10ft long) stone countertops and stainless appliances. The bathrooms are large and plush and one features a huge walk stone shower. The two car garage houses the new $43k SUV. The annual taxes and association fees are about $5k. The home cost about $500k all in. It is substantially nicer then the 100 year old home they spent the last 27 years together in up north. They are more comfortable spending then either Mrs or I. Not surprisingly it seems the residents in this portion of the development are Drs, successful entrepenures and the like.
Manny and Gloria (my sister) live about and hour and half north. The inherited 2 bedroom ranch style home sits adjacent to a river (actually more a long 100 yard wide lake) . The landscaping is superb, perhaps the nicest in this 30 year old working man's community. I see bits of clear plastic that confirms the asphalt roof is brand new. My brother-in-law says: "A tile roof would have been $30k - which is why no one has them here." There are new cement walkways and an enlarged driveway that holds their 2 modest cars. The home they sold in NY was large on a big lot - Manny did it all - put in windows, laid brick, redid the kitchen etc., When they moved Down Manny swore to me that he would not be the handy man anymore. The landscape confirms my belief that he can't help himself. The interior of this smaller home is light, airy and freshly redone -the only room untouched is the kitchen. Old but in excellent condition it is clear Manny with have at it next. The view from that kitchen is a joy - the ducks, sandhill cranes, the lake just wonderful. After a tour of the town and a nice lunch out we sit in the screened in lanai and have coffee and I tell them you have a lovely home - what more do you need? I ask Manny what does a home like this cost? "$200K fixed up like ours $1200 taxes per year, 300 HOA fees per year".
I'm not sure we need or would be comfortable with a $500k florida designer home and to have 'high tea' with the "summer on the Vineyard/ Peninsula" crowd. I think I'd be happier with the Budweiser crowd.
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Jane and her partner built a brand new 2500 plus sq ft designer three bedroom terra cotta roofed Spanish style home in a very desirable Florida neighborhood. On this block all the homes are the same model. The lots are fairly small the homes backs face a man made lake (complete with an alligator or two). Large lots require more upkeep and no one wants them I am told. Even though here the landscaping is included in the HOA fees. Their home has a massive great room, huge sliders that open on to the obligatory paver patio and screened in pool. - all right out of a magazine. This is the best of 'florida outdoor living' The kitchen features a an oversized island (at least 10ft long) stone countertops and stainless appliances. The bathrooms are large and plush and one features a huge walk stone shower. The two car garage houses the new $43k SUV. The annual taxes and association fees are about $5k. The home cost about $500k all in. It is substantially nicer then the 100 year old home they spent the last 27 years together in up north. They are more comfortable spending then either Mrs or I. Not surprisingly it seems the residents in this portion of the development are Drs, successful entrepenures and the like.
Manny and Gloria (my sister) live about and hour and half north. The inherited 2 bedroom ranch style home sits adjacent to a river (actually more a long 100 yard wide lake) . The landscaping is superb, perhaps the nicest in this 30 year old working man's community. I see bits of clear plastic that confirms the asphalt roof is brand new. My brother-in-law says: "A tile roof would have been $30k - which is why no one has them here." There are new cement walkways and an enlarged driveway that holds their 2 modest cars. The home they sold in NY was large on a big lot - Manny did it all - put in windows, laid brick, redid the kitchen etc., When they moved Down Manny swore to me that he would not be the handy man anymore. The landscape confirms my belief that he can't help himself. The interior of this smaller home is light, airy and freshly redone -the only room untouched is the kitchen. Old but in excellent condition it is clear Manny with have at it next. The view from that kitchen is a joy - the ducks, sandhill cranes, the lake just wonderful. After a tour of the town and a nice lunch out we sit in the screened in lanai and have coffee and I tell them you have a lovely home - what more do you need? I ask Manny what does a home like this cost? "$200K fixed up like ours $1200 taxes per year, 300 HOA fees per year".
I'm not sure we need or would be comfortable with a $500k florida designer home and to have 'high tea' with the "summer on the Vineyard/ Peninsula" crowd. I think I'd be happier with the Budweiser crowd.
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