Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
location, location, location
Old 04-23-2007, 09:14 PM   #1
Moderator Emeritus
Martha's Avatar
 
Join Date: Feb 2004
Location: minnesota
Posts: 13,212
location, location, location

We live in a beautiful 100 year old brick building that we own. It has four apartments and we live in one. It is over-improved for a rental and is very well maintained with many nice unique features. For example, our apartment has three fireplaces, in the kitchen, bedroom, and livingroom. For a variety of reasons we are going to sell our place and move to Minneapolis/St. Paul. Based upon what the first realtor has said, we will probably get out of this place only enough money to buy a small single family home in St. Paul with about as many square feet as our apartment. And we won't have three other tenants paying us rent. Property taxes will be lower though.

Bummer.

It is tough to move from a low cost area to a higher cost area. But we are going to do it anyway.
__________________

__________________
.


No more lawyer stuff, no more political stuff, so no more CYA

Martha is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Re: location, location, location
Old 04-23-2007, 09:20 PM   #2
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
youbet's Avatar
 
Join Date: Mar 2005
Location: Chicago
Posts: 9,965
Re: location, location, location

Quote:
Originally Posted by Martha
For a variety of reasons we are going to sell our place and move to Minneapolis/St. Paul.
Tell us one of the reasons for the move is NOT w-o-r-k!
__________________

__________________
"I wasn't born blue blood. I was born blue-collar." John Wort Hannam
youbet is offline   Reply With Quote
Re: location, location, location
Old 04-23-2007, 09:21 PM   #3
Thinks s/he gets paid by the post
wabmester's Avatar
 
Join Date: Dec 2003
Posts: 4,459
Re: location, location, location

The variability in regional prices is pretty amazing. The worst part of it is that the price you'll be paying is mostly driven by the quantity and quality of jobs in the area, and I assume you won't be taking one of them.

We've considered moving to the city to be closer to relatives, but we've acquired a strong aversion to high-density housing and traffic.
__________________
wabmester is offline   Reply With Quote
Re: location, location, location
Old 04-23-2007, 09:22 PM   #4
Full time employment: Posting here.
 
Join Date: Jun 2006
Posts: 718
Re: location, location, location

Good luck with that move. Do you like to ice fish?
__________________
Mwsinron is offline   Reply With Quote
Re: location, location, location
Old 04-23-2007, 09:26 PM   #5
Thinks s/he gets paid by the post
 
Join Date: Oct 2005
Posts: 4,898
Re: location, location, location

Martha,
I can certainly understand why you'd like to move to Minn/St Paul. I have been there twice and it is a gorgeous city. But your apartment building sounds fabulous. Hard to move from a great situation like that but the lure of the city cannot be denied.

--Oldbabe
__________________
Zoocat is offline   Reply With Quote
Re: location, location, location
Old 04-23-2007, 09:28 PM   #6
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 42,093
Re: location, location, location

Quote:
Originally Posted by Martha
Property taxes will be lower though.
At least you did manage to find an upside. And don't forget that Greg will only have 1/4 the plumbing repair work. Guess he'll have to find another hobby!

__________________
Numbers is hard

When I hit 70, it hit back

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Re: location, location, location
Old 04-23-2007, 09:32 PM   #7
Recycles dryer sheets
 
Join Date: Dec 2005
Location: San Diego
Posts: 468
Re: location, location, location

Martha, your post reminds me of my chronic conundrum with regard to FIRE. I live in a place I really enjoy and would not choose to leave.... except if I move to a lower COL area (really a lower cost of housing area) I could FIRE now. By staying, I will extend by, oh, three more years my time at w#*k.

On one hand, I feel like I'm sitting on too much equity. I've looked at solutions like downsizing to a condo... but I'm just not keen on attached housing. Ditto with the fourplex set-up. The recent "Worry Free Housing" post has me taking a closer look at some type of manufactured housing. In fact I recently visited a park for mfd housing and actually was quite impressed with the new, never lived in home. The park itself, though, was older and worn out and close to a noisy freeway. Other pitfall there is someday if I wanted to move back into a traditional house I could be priced out of the market. Which is the same problem with moving to Arizona, for instance. In ten years it might be impossible to move back to CA if the urge would strike.

I'm curious, what is motivation for moving to the "big city"? Is it family and friends, culture, entertainment?
__________________
califdreamer is offline   Reply With Quote
Re: location, location, location
Old 04-23-2007, 10:10 PM   #8
Moderator Emeritus
Rich_by_the_Bay's Avatar
 
Join Date: Feb 2006
Location: San Francisco
Posts: 8,827
Re: location, location, location

Quote:
Originally Posted by Martha
It is tough to move from a low cost area to a higher cost area. But we are going to do it anyway.
Too true, but location is everything for us, too.

Gee, with the rental income and such a drastic price change between the two cities, does it pay to keep the building and its rental income (increased by renting your current apartment) and still by a small place in the cities?
__________________
Rich
San Francisco Area
ESR'd March 2010. FIRE'd January 2011.

As if you didn't know..If the above message contains medical content, it's NOT intended as advice, and may not be accurate, applicable or sufficient. Don't rely on it for any purpose. Consult your own doctor for all medical advice.
Rich_by_the_Bay is offline   Reply With Quote
Re: location, location, location
Old 04-24-2007, 10:03 AM   #9
Moderator Emeritus
Martha's Avatar
 
Join Date: Feb 2004
Location: minnesota
Posts: 13,212
Re: location, location, location

All options are on the table so we might keep and rent out our place, though I doubt it. I am looking at places in the twin cities over the next few days. If the disparity is too large we may say forget it.
__________________
.


No more lawyer stuff, no more political stuff, so no more CYA

Martha is offline   Reply With Quote
Re: location, location, location
Old 04-24-2007, 10:06 AM   #10
Moderator Emeritus
Rich_by_the_Bay's Avatar
 
Join Date: Feb 2006
Location: San Francisco
Posts: 8,827
Re: location, location, location

Quote:
Originally Posted by Martha
All options are on the table so we might keep and rent out our place, though I doubt it. I am looking at places in the twin cities over the next few days. If the disparity is too large we may say forget it.
One thing (among many) that I always liked about the cities, as an occasional visitor, is that you can actually have a life even though it is snowbound or subzero. Nice place.

I don't blame you for being willing to pay a premium to live there.
__________________
Rich
San Francisco Area
ESR'd March 2010. FIRE'd January 2011.

As if you didn't know..If the above message contains medical content, it's NOT intended as advice, and may not be accurate, applicable or sufficient. Don't rely on it for any purpose. Consult your own doctor for all medical advice.
Rich_by_the_Bay is offline   Reply With Quote
Re: location, location, location
Old 04-24-2007, 10:26 AM   #11
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
kcowan's Avatar
 
Join Date: Jul 2006
Location: Pacific latitude 20/49
Posts: 5,717
Send a message via Skype™ to kcowan
Re: location, location, location

Martha
Don't forget to evaluate renting in the new place while keeping your current place. It might be an attractive alternative, at least in the interim until you are sure about the permanence of the move.
__________________
For the fun of it...Keith
kcowan is offline   Reply With Quote
Re: location, location, location
Old 04-24-2007, 12:47 PM   #12
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
TromboneAl's Avatar
 
Join Date: Jun 2006
Posts: 11,197
Re: location, location, location

If you can get a really small home, you can expect lower heating/cleaning bills, etc. Perhaps something with a nice, efficient wood stove.

When we moved to our lower cost area, we knew it had to be a one-way trip, but we've never regretted it.

Please let us dissect your reasons for moving.
__________________
Al
TromboneAl is offline   Reply With Quote
Re: location, location, location
Old 04-24-2007, 02:26 PM   #13
Thinks s/he gets paid by the post
lazygood4nothinbum's Avatar
 
Join Date: Feb 2006
Posts: 3,895
Re: location, location, location

i know just what you mean. if i give up my house three miles inland here in crowded fort lauderdale i can get myself a house just a block off the beach in daytona and put half the sale money into the portfolio. wait a minute; maybe that isn't what you mean. still: location location location.
__________________
"off with their heads"~~dr. joseph-ignace guillotin

"life should begin with age and its privileges and accumulations, and end with youth and its capacity to splendidly enjoy such advantages."~~mark twain - letter to edward kimmitt 1901
lazygood4nothinbum is offline   Reply With Quote
Re: location, location, location
Old 04-24-2007, 03:56 PM   #14
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
haha's Avatar
 
Join Date: Apr 2003
Location: Hooverville
Posts: 22,384
Re: location, location, location

Quote:
Originally Posted by lazygood4nothinbum
i know just what you mean. if i give up my house three miles inland here in crowded fort lauderdale i can get myself a house just a block off the beach in daytona and put half the sale money into the portfolio. wait a minute; maybe that isn't what you mean. still: location location location.
LazyGood4, how cold is the water temp at Daytona in January? Is it a good year round swimming beach for a reasonably hardy person? I see there is a fishing pier- if the water is good, there is a pier, only other thing I would need is some topless sunbathers to feel like I was back in SoCal, only on 1/3 the money.

Is it an active beach, with a boardwalk, music and stuff, or mostly closed off?

Those prices you mentioned last week sound really tempting.

Ha
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
haha is online now   Reply With Quote
Re: location, location, location
Old 04-24-2007, 05:49 PM   #15
Thinks s/he gets paid by the post
lazygood4nothinbum's Avatar
 
Join Date: Feb 2006
Posts: 3,895
Re: location, location, location

ha, according to http://tinyurl.com/ydjrmz january water temp there is a brisk 61 degrees. but even in south florida where the gulf stream runs just off the coast it gets down to 71. daytona beach is in the low 70s now and there were lots of people in the water when i was there just a few weeks ago.

the nice thing about the beach there is you don't have to get totally wet to enjoy it. the gentle slope and hard packed sand make for a very nice walk or large expanse for ball games, boogie boarding and sand castle building.

there is not just a pier but a pier with a ski lift for a bird's eye view, sort of coney islandish. the beach is very accessible, which is one of the things i liked about it. even where it is mostly private property along the street, there are lots of access points for the public. no boardwalk necessary. you can even drive on the sand in places there.

the daytona main pier area is very active while just a 10-20 minute ride north and you have secluded beach areas, including a state park right on the ocean.

if you are looking for exposed breasts & warmer waters then you'll prefer miami beach at californiaesque & sub calif prices. also we have a nude beach at haulover in north miami. i think the closest nude beach to daytona is apollo beach down by cape canaveral.

for my previous report on "the daytona 250" see http://tinyurl.com/2s9uta
__________________
"off with their heads"~~dr. joseph-ignace guillotin

"life should begin with age and its privileges and accumulations, and end with youth and its capacity to splendidly enjoy such advantages."~~mark twain - letter to edward kimmitt 1901
lazygood4nothinbum is offline   Reply With Quote
Re: location, location, location
Old 04-24-2007, 07:31 PM   #16
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Dawg52's Avatar
 
Join Date: Feb 2005
Location: Central MS/Orange Beach, AL
Posts: 7,435
Re: location, location, location

Quote:
Originally Posted by HaHa
LazyGood4, how cold is the water temp at Daytona in January? Is it a good year round swimming beach for a reasonably hardy person? I see there is a fishing pier- if the water is good, there is a pier, only other thing I would need is some topless sunbathers to feel like I was back in SoCal, only on 1/3 the money.

Is it an active beach, with a boardwalk, music and stuff, or mostly closed off?

Those prices you mentioned last week sound really tempting.

Ha
One word......'hurricanes'. Still tempting?
__________________
Retired 3/31/2007@52
Full time wuss.......
Dawg52 is offline   Reply With Quote
Re: location, location, location
Old 04-24-2007, 07:42 PM   #17
Moderator Emeritus
Rich_by_the_Bay's Avatar
 
Join Date: Feb 2006
Location: San Francisco
Posts: 8,827
Re: location, location, location

Quote:
Originally Posted by DOG52
One word......'hurricanes'. Still tempting?
Here are some more words:

Blizzards. Tornados. Mudslides. Floods. Earthquakes. Bumper cars on the interstates with freezing rain. Ten below for 2 weeks. Hard to get away from mother nature and none of these are fun.

I sure do enjoy the other 362 days a year though.

BTW, Saint Augustine is really nice, too. Stayed at Anastasia State Park, gorgeous beaches, dunes.

__________________
Rich
San Francisco Area
ESR'd March 2010. FIRE'd January 2011.

As if you didn't know..If the above message contains medical content, it's NOT intended as advice, and may not be accurate, applicable or sufficient. Don't rely on it for any purpose. Consult your own doctor for all medical advice.
Rich_by_the_Bay is offline   Reply With Quote
Re: location, location, location
Old 04-24-2007, 08:10 PM   #18
Recycles dryer sheets
 
Join Date: Dec 2005
Location: San Diego
Posts: 468
Re: location, location, location

Quote:
Originally Posted by lazygood4nothinbum
ha, according to http://tinyurl.com/ydjrmz january water temp there is a brisk 61 degrees. but even in south florida where the gulf stream runs just off the coast it gets down to 71. daytona beach is in the low 70s now and there were lots of people in the water when i was there just a few weeks ago.
Thanks for cool link to water temps along the Atlantic. Surprised to see Virginia Beach water still at 50 degrees.

I've heard Gulf Stream veers away from FL coast at about Vero Beach. Anyone know if that's accurate?
__________________
califdreamer is offline   Reply With Quote
Re: location, location, location
Old 04-24-2007, 10:41 PM   #19
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Dawg52's Avatar
 
Join Date: Feb 2005
Location: Central MS/Orange Beach, AL
Posts: 7,435
Re: location, location, location

Quote:
Originally Posted by Rich_in_Tampa
Here are some more words:

Blizzards. Tornados. Mudslides. Floods. Earthquakes. Bumper cars on the interstates with freezing rain. Ten below for 2 weeks. Hard to get away from mother nature and none of these are fun.

I sure do enjoy the other 362 days a year though.

Yeah well.......I doubt if my neighbors 180 miles south of me on the MS coast have found very many good days over the last year or so. Changed their lives forever. But I will concede that was probably the storm of the century.
__________________
Retired 3/31/2007@52
Full time wuss.......
Dawg52 is offline   Reply With Quote
Re: location, location, location
Old 04-25-2007, 10:55 AM   #20
Thinks s/he gets paid by the post
lazygood4nothinbum's Avatar
 
Join Date: Feb 2006
Posts: 3,895
Re: location, location, location

Quote:
Originally Posted by califdreamer
Thanks for cool link to water temps along the Atlantic. Surprised to see Virginia Beach water still at 50 degrees.

I've heard Gulf Stream veers away from FL coast at about Vero Beach. Anyone know if that's accurate?
florida coast starts heading nw at west palm beach. while the gulf stream heads ne starting down towards the keys. from maps it looks to be more than a few miles off already by stuart, south of vero. i've heard the closest point is jupiter but that was probably a report issued by the fishing chamber of commerce. i would imagine the stream moves. we can often see if off the coast of fort lauderdale, especially when the wind blows in from the north, against the flow of the stream. it looks like someone raised the horizon over the ocean by a bit.
Attached Images
File Type: jpg gulf-stream-nasa-pic.jpg (33.7 KB, 18 views)
Attached Files
File Type: jpg_thumb gulf-stream-nasa-pic.jpg_thumb (32.4 KB, 1 views)
__________________

__________________
"off with their heads"~~dr. joseph-ignace guillotin

"life should begin with age and its privileges and accumulations, and end with youth and its capacity to splendidly enjoy such advantages."~~mark twain - letter to edward kimmitt 1901
lazygood4nothinbum is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Don't count Utah out as retirement location Jeff55 Life after FIRE 28 03-19-2007 09:42 PM
Location of cash Jay_007 Young Dreamers 15 09-14-2006 05:20 PM
Embarrassed about your gender or location? Rich_by_the_Bay Forum Admin 26 05-27-2006 10:56 PM
IDEAL RETIREMENT LOCATION gary Life after FIRE 18 02-03-2005 09:53 AM
Simple Quiz to Find your Ideal Retirement Location Cut-Throat Life after FIRE 18 11-05-2004 12:13 AM

 

 
All times are GMT -6. The time now is 09:12 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.