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Old 09-12-2019, 08:45 AM   #41
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Plenty of people on this site have said a lot of the things that they planned to do after retirement never happened. People should take a year or so to adjust before making a major purchase like a house in a new area. And, if it's a new area it's wise to rent for a few months first to get the lay of the land before committing.
I tend to agree with everything you said, but I actually did the opposite and its turned out well.

We bought our retirement house in a new town about 18 months out from our retirement date. We thought we did enough research and spent enough time in the new town before hand that we felt comfortable in pulling the trigger. We also found a great house at a great price and felt it was something we couldn't pass up.

We are now about 6 months into our "new situation". We have made friends in the new town and enjoy the opportunity to discover a different part of the state. I commute back and forth during the week to complete my w*rk obligations.

So I am not recommending anyone do what we did, but so far, so good.
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Old 09-17-2019, 01:35 AM   #42
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I think this is a bad idea. Speaking as Airbnb host. You need to be there to check on your renters for checkin and out. It would be hard to monitor your business if you are away. What I can suggest if your really want this arangement is for you to hire someoene who can assist the renters and you can just instruct him/her for onboarding, that way you can continue traveling and at the same time earning money.
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Old 09-17-2019, 04:52 AM   #43
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If I were in the OP's shoes and wanted to travel, I would probably get a condo. I love our Florida condo... if we want to go away, clean out the fridge, turn off the water, close and lock the door and arm the security system.... easy peasy.

Our annual costs, excluding mortgage payments since we bought for cash, are about $9k a year all in so it is very affordable too.

+1



This was or is my thinking. May never do it but a condo in the keys and one in Maine would be ideal. With condo don't have to worry as much about things going wrong while you are away.



We have a neighbor who does winters in Fla and had a pipe burst while they were away. They have a son here but he only visits every couple weeks to check on it. Took about 2 months to get place repaired.
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Old 09-17-2019, 04:59 AM   #44
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.... We have a neighbor who does winters in Fla and had a pipe burst while they were away. They have a son here but he only visits every couple weeks to check on it. Took about 2 months to get place repaired.
We turn off the water while we are away for that very reason.... only takes 15 seconds.
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Old 09-17-2019, 07:59 AM   #45
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I am ready to pull the plug next year. My wife and I ended up in Florida to work at our ďlast jobsĒ. We bought a home based on the location to make our commutes easier not knowing if we would want to remain in Florida. We knew this home was okay but not a long term solution.

At this point we are starting to look for a home based on our retirement lifestyle needs. We want to do some traveling while our health still allows. We now face the decision regarding how much to spend on the house vs. traveling and other stuff. One option is to buy an Air BnB friendly house so that we could buy something in a nicer location and not feel guilty when we are not using it while traveling.

I was wondering if anyone else has done this approach and how it worked out.
I purchased a vacation rental in Kissimmee. FL, via a 1031 Exchange. I use Evolve Vacation Rental as the marketing company, and they have a property manager for stuff on the ground like check-ins, check-outs, cleaning and repairs.

It has worked out well. It can be 100% hands off. Or you can schedule your time and go there. From a tax perspective, it can be good if you only use it 14 days or less. Travel and meals are all deductible.
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Old 09-17-2019, 08:49 AM   #46
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One option is to buy an Air BnB friendly house so that we could buy something in a nicer location and not feel guilty when we are not using it while traveling.
Who is going to wash the sheets and vacuum the house for the AirBnB'rs? The cleaners might need to be there a couple times a week. How much do you have to pay them?
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Old 09-17-2019, 09:08 AM   #47
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Who is going to wash the sheets and vacuum the house for the AirBnB'rs? The cleaners might need to be there a couple times a week. How much do you have to pay them?
When people book my place, they pay a $95 cleaning fee. The cleaners come after every guest. If it's extra dirty, you get charged more after the stay. That is typical.

Hotels have mid-stay cleaners, AirBNB's do not. You wash your own sheets and vacuum if you need that during your stay.

I have had guests stay 6 weeks. The cleaner only comes once, after the guest is out.
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Old 09-18-2019, 12:11 PM   #48
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Thanks for the info!
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Old 09-18-2019, 12:39 PM   #49
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We're hoping to travel half the year during retirement but not necessarily in one 6 month stretch. Everyone is different but I don't want someone living all over "my space" either. However, our house is configured to support a somewhat self-contained rental in one corner of the house. I wouldn't mind setting up that as a rental if just to have someone onsite to identify issues like burst pipes etc while we're away. A lot of people in Vancouver are also building laneway home additions as an in-law or rental suite but the ROI on those seem to be about 10+ years.
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Old 09-18-2019, 04:19 PM   #50
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We have a closing tomorrow on another house an hour away. Found out Friday that the roof's condition was not good, and $2500 repairs is just a band aid. The two real estate agents didn't disclose the report (with pictures) until Tuesday. They were going to let me close the purchase without full disclosure.

The sellers refused to file a comprehensive claim on hail damage. I'm not about to close on a house needing a $15K roof in another year or two.

I have a bunch of cash to wire transfer back to Ally Bank until we can come up with another house. What's so bad is this is the perfect house for our family and furniture--4000 sq. ft. with triple car garage.

There are other houses on the market, but our area's really hopping business wise..
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Old 09-18-2019, 05:02 PM   #51
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We have a closing tomorrow on another house an hour away. Found out Friday that the roof's condition was not good, and $2500 repairs is just a band aid. The two real estate agents didn't disclose the report (with pictures) until Tuesday. They were going to let me close the purchase without full disclosure.

The sellers refused to file a comprehensive claim on hail damage. I'm not about to close on a house needing a $15K roof in another year or two.

I have a bunch of cash to wire transfer back to Ally Bank until we can come up with another house. What's so bad is this is the perfect house for our family and furniture--4000 sq. ft. with triple car garage.

There are other houses on the market, but our area's really hopping business wise..
What do you mean the agents did not disclose? Did you hire the inspector? They need to provide YOU with the report.
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Old 09-18-2019, 05:58 PM   #52
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.....I'm not about to close on a house needing a $15K roof in another year or two. ....

What's so bad is this is the perfect house for our family and furniture--4000 sq. ft. with triple car garage. ...

There are other houses on the market, but our area's really hopping business wise..
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.... Had this not been the perfect house for our family's needs, we might have walked on the deal. Now, I've got to do the final repairs to our current house and get it on the market.
Is it really worth $15k standing between you and your perfect house? Now that you've demonstrated that you're willing to walk, might the seller be more agreeable?

Maybe the listing and selling agents might be willing to take a reduced commission to your benefit to help the transaction close... a half a loaf is better than none!
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Old 09-18-2019, 06:54 PM   #53
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A 15 thousand dollar roof on a 4000 sq-ft house sounds like a pretty cheap roof.
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Old 09-19-2019, 12:20 AM   #54
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Not really thinking of moving away for my retirement. Maybe because I'm too scared for change but at the same time I think this is something I should do.
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Old 09-19-2019, 02:02 AM   #55
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Not really thinking of moving away for my retirement. Maybe because I'm too scared for change but at the same time I think this is something I should do.
I get tired of being in one location too long. Ready to sell the condo and move overseas. Change helps keep me feeling young, and energized! New things, places, creatures, and people to see!
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Old 09-19-2019, 03:28 AM   #56
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I have had more bad experiences with long term renters than short term. We have a vacation condo on a lake that we rent out using a management co so they handle everything I just cash the checks. When I do go there every other month for routine maint and insp if I find anything wrong the management co fixes it asap.

Plan on traveling when we retire and renting the condo out short term when not there. We can make just as much in 15 days of short term rents than in a whole month of long term rents which equals less wear and tear and less time for a bad tenant.
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Old 09-19-2019, 05:29 AM   #57
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I get tired of being in one location too long. Ready to sell the condo and move overseas. Change helps keep me feeling young, and energized! New things, places, creatures, and people to see!
Having just moved for retirement, I agree with this 100%. The new place feels like we are on vacation all the time. New things to discover, new restaurants, new trails to hike, new friends, new, new, new. Itís very refreshing.
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Old 09-19-2019, 06:09 AM   #58
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We have no plans of leaving our established farm in Northern Ohio, but may snowbird for a month, or two in the Winter down South somewhere. I'm not sure if we will re-locate our 32' camper, or rent a different AirB&B each year.
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Old 09-19-2019, 09:27 AM   #59
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Having just moved for retirement, I agree with this 100%. The new place feels like we are on vacation all the time. New things to discover, new restaurants, new trails to hike, new friends, new, new, new. Itís very refreshing.


Thatís what we decided to do also, but not quite so adventurous. We are moving from coastal So CA to Palm Springs, about 2 hours away. Far enough for new places, people and activities but close enough to old friends. 30-year friendships are hard to replace.
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Old 09-19-2019, 09:54 AM   #60
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Thatís what we decided to do also, but not quite so adventurous. We are moving from coastal So CA to Palm Springs, about 2 hours away. Far enough for new places, people and activities but close enough to old friends. 30-year friendships are hard to replace.
We see "old" friends probably now more than ever since they want to visit the new area too.
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