Join Early Retirement Today
Reply
 
Thread Tools Display Modes
The next step
Old 06-13-2009, 10:00 AM   #1
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Brat's Avatar
 
Join Date: Feb 2004
Location: Portland, Oregon
Posts: 7,107
The next step

We have decided to sell our magical house on Bainbridge Island and downsize. We are spending almost half of our time away from home, time for a condo. It is with mixed feelings as the house is wonderful and the view stunning. When it is on the web (in about 2 weeks) I’ll provide a link so you can see what I am talking about. If it doesn’t sell then all we will have expended is a couple hundred for a home inspection and a lot of effort cleaning - getting rid of stuff that should have gone years ago.
__________________
Duck bjorn.
Brat 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!

Old 06-13-2009, 10:27 AM   #2
Thinks s/he gets paid by the post
DangerMouse's Avatar
 
Join Date: Jan 2007
Location: Silicon Valley
Posts: 1,812
Brat, emotionally how are you feeling about this decision? Sounds as if your dearly love this house.
__________________

I be a girl, he's a boy. Think I maybe FIRED since July 08. Mid 40s, no kidlets. Actually am totally clueless as to what is going on with DH.
DangerMouse is offline   Reply With Quote
Old 06-13-2009, 10:58 AM   #3
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Brat's Avatar
 
Join Date: Feb 2004
Location: Portland, Oregon
Posts: 7,107
We both do but our grand children are in other cities (which is why so much travel). When you are kicking 70 (one over, one younger), love of family exceeds love of house. One family is in your neighborhood, for example. It isn't easy for families to travel by air with pre-schoolers. These days the grand parents travel.
__________________
Duck bjorn.
Brat is offline   Reply With Quote
Old 06-13-2009, 03:39 PM   #4
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
freebird5825's Avatar
 
Join Date: Feb 2008
Location: East Nowhere, 43N Latitude, NY
Posts: 9,037
Food for thought...
If it doesn't sell, have you considered rental to temporary visitors, like business executives or professors or artists or writers who need to be in town for up to a month or longer but not all year? With very select screening, this could be an option.
I have no idea how remote the location is.
__________________
"All our dreams can come true, if we have the courage to pursue them." - Walt Disney
freebird5825 is offline   Reply With Quote
Old 06-13-2009, 03:41 PM   #5
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Jul 2006
Posts: 11,401
Brat, your house and its location sound idyllic. Why not rent it out to weary Forum members while you are away?
Meadbh is offline   Reply With Quote
Old 06-13-2009, 09:05 PM   #6
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Brat's Avatar
 
Join Date: Feb 2004
Location: Portland, Oregon
Posts: 7,107
I don't think the RE market will improve much in the next 5 years and our grandchildren are growing. If the house doesn't sell we will consider other options, but the amount we would need to charge in rent would be WELL beyond the ability of all but executives to pay. I don't expect the almost $1 M some said it was worth two years ago, I think our expectations are realistic for the current market.
__________________
Duck bjorn.
Brat is offline   Reply With Quote
Old 06-27-2009, 05:43 PM   #7
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Brat's Avatar
 
Join Date: Feb 2004
Location: Portland, Oregon
Posts: 7,107
It was listed this week. Lots of Realtors showed up for the preview but IMHO there aren't hordes of buyers in our price range. We want only qualified folks looking at the house so I don't expect a lot of traffic. We had the most critical home inspector go through the house from top to bottom - got an excellant report. Our Realtor is committing to using all venues, even put us on the Seattle CraigsList yesterday.

Just committing to getting rid of stuff we have been storing for years is a major achievement!!
__________________
Duck bjorn.
Brat is offline   Reply With Quote
Old 06-27-2009, 09:35 PM   #8
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Ed_The_Gypsy's Avatar
 
Join Date: Dec 2004
Location: the City of Subdued Excitement
Posts: 5,588
Hi, brat,

Mixed emotions here. I am sad that you are leaving your place. Bainbridge Island is a destination place to live and hard to do so at that. You have enjoyed it while you can. Good. Still, you are pretty tough. Family is a higher priority.

I gather that you are moving back to Portland (where you may remember, we both grew up). It was a neat place then and it is better today (but more expensive).

Would it be practical to move to Vancouver, just over the bridge? Tax and cost advantages, although a little more distant from the kiddos.

Be aware. We have a friend who moved to Bellingham to be near her grandchildren--but her kids eventually moved to California for work. Fortunately, she likes Bham, which is good since she can't get around quite so well anymore.

Best of luck, kid.

Cheers,

Gypsy
__________________
I have outlived most of the people I don't like and I am working on the rest.
Ed_The_Gypsy is offline   Reply With Quote
Old 06-27-2009, 10:50 PM   #9
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Brat's Avatar
 
Join Date: Feb 2004
Location: Portland, Oregon
Posts: 7,107
The problem with Vancouver is the bridge traffic. If they had only opted for light rail years ago a condo in their core are would be a great option. Property taxes aren't as low as they once were.

We will be looking in the 'core area' for a one level condo/co-op. Our Portland grandchildren will attend Chapman grade school so NW, Goose Hollow or Kings Heights will be first choice (I attended preschool at Friendly House during WWII). We want something that the survivor can financially handle when one of us passes, that is accessible, well constructed, not dependent on the automobile and quality construction. That cuts our options down a hunk..

The Pearl District might work (we old timers smile at that description) too but DH isn't interested at the moment. The South Waterfront is nicknamed "SoWhat" in my circle - in part because it has no sense of community.
__________________
Duck bjorn.
Brat is offline   Reply With Quote
Old 06-27-2009, 11:06 PM   #10
Thinks s/he gets paid by the post
Helen's Avatar
 
Join Date: Oct 2004
Location: Portland
Posts: 2,038
Quote:
Originally Posted by Brat View Post
The problem with Vancouver is the bridge traffic. If they had only opted for light rail years ago a condo in their core are would be a great option. Property taxes aren't as low as they once were.

We will be looking in the 'core area' for a one level condo/co-op. Our Portland grandchildren will attend Chapman grade school so NW, Goose Hollow or Kings Heights will be first choice (I attended preschool at Friendly House during WWII). We want something that the survivor can financially handle when one of us passes, that is accessible, well constructed, not dependent on the automobile and quality construction. That cuts our options down a hunk..

The Pearl District might work (we old timers smile at that description) too but DH isn't interested at the moment. The South Waterfront is nicknamed "SoWhat" in my circle - in part because it has no sense of community.
Hi Brat,

We had our house in St. Helens on the market last year and rented ia townhouse in sellwood for a year. We were reallly sad to move back - for about a week. We have three acres on a creek (small trout stream) and are loving it again. We decided we'll live in it for now and sell it at some point after we retire. I think we just needed a break from the routine and a year away gave us that.

We are in our early 50's and the place is a lot of work. Also, we are a long way from the hospitals in Portland. Socially Portland has a lot more to offer as well. So I think when we get older we will head into town.

I hope things worked out for you. I really love Portland and the areas you mentioned would put you near the train system. A coworker of mine lives in the South Waterfront and really likes it.

Best of luck and keep us posted.

-helen
Helen is offline   Reply With Quote
Old 06-28-2009, 06:42 AM   #11
Moderator Emeritus
Rich_by_the_Bay's Avatar
 
Join Date: Feb 2006
Location: San Francisco
Posts: 8,827
Certainly a bittersweet decision for you. I can certainly understand your ambivalence and in this situation, both choices are tough but good.

We are not as emotionally attached to our current house as you are, but certainly feel drawn by our distant kids and 4 grandkids. Once a decision is made to relocate to be near them two things immediately jump into view: the oppressive housing market in most regions, and the risk that you will move only to find that the kids will move unexpectedly for jobs or other imperatives or that their schedules and social lives are such that you become no more than an occasional visitor - especially as they start hitting their teens.

Well, you can't wait forever for the housing market, and the gkids will get older in a minute so if you're going to take the leap, sooner is better.

Best of luck with your home sale and move. Keep us posted.
__________________
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
Old 06-28-2009, 08:44 AM   #12
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
haha's Avatar
 
Join Date: Apr 2003
Location: Hooverville
Posts: 22,983
Quote:
Originally Posted by Rich_in_Tampa View Post
We are not as emotionally attached to our current house as you are, but certainly feel drawn by our distant kids and 4 grandkids. Once a decision is made to relocate to be near them two things immediately jump into view: the oppressive housing market in most regions, and the risk that you will move only to find that the kids will move unexpectedly for jobs or other imperatives or that their schedules and social lives are such that you become no more than an occasional visitor - especially as they start hitting their teens.
I know what you mean about busy adult children, especially if they are well off enough that they really don't need anything. There are professional babysitters, professional handymen, professional Nannies, etc..

Still, other than the occasional hey, I don't have to run around all day today, want to come over and watch football- ther are lots of little opportuites to be jointly helpful, to talk over things, etc. And when something big happens, so much better to have your family around.

It seems that in the 60s angst and rancor often separated familes or made their lives hard, but now its 2 working parents and endless overdeveloped responsibilities, very long work hours and social obligations stemming from work. Then Mom and Dad need some time to themselves too.

So it can be tight.

Ha
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
haha is offline   Reply With Quote
Old 06-28-2009, 09:04 AM   #13
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Brat's Avatar
 
Join Date: Feb 2004
Location: Portland, Oregon
Posts: 7,107
Helen, we are in our late 60s/early 70s. Hey, I remember Portland's street cars! To be able to use that type of transportation again will be a joy.

St. Helens is a nice community. When I worked in Beaverton it was interesting to find that a number of folks commuted over the hill from St. Helens. My son's family has a boatyard just west of Linnton (a Portland neighborhood Helen would know); when there I notice St. Helens emergency vehicles hustling down the highway.

You are right about the amount of energy it takes to maintain a large property. It may take 10 years for the economy to recover. By that time there will be someone who wants a forrest setting close to the city and you can move next to us.

HaHa, you nailed it! I must admit that as young parents we to lived that life. Add the hassle today of flying with young children (time spent dealing with security, car seats) it is just too exausting. Having a grand parent available to cover when your child care arrangments break down can be a delight for all.
__________________
Duck bjorn.
Brat is offline   Reply With Quote
Old 06-28-2009, 09:25 AM   #14
Gone but not forgotten
 
Join Date: Jan 2007
Location: Sarasota,fl.
Posts: 11,447
I think you are very wise to make the move closer to your children . Besides the fact of nearness to your grandchildren you have your children near when you or your wife start needing help . Also taking care of a property after a certain age gets harder and harder . I'm ready to trade my house for a smaller version as soon as the market picks up even slightly .Good Luck on the sale !
Moemg is offline   Reply With Quote
Old 06-28-2009, 10:32 AM   #15
Moderator Emeritus
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 47,468
Do you fly down to visit them often, Brat? If so, I can see how there would be significant savings in airfare and other travel expenses. Also, Portland is an attractive city with lots of nature preserves and a vibrant, youthful, active air about it. Moving in retirement seems to me like an exciting and adventurous thing to do, and you would get to see your grandchildren grow up and be a part of their lives. And as you grow older, a easily maintained condo in an eminently walkable city like Portland sounds like an excellent option.

Of course, there are always some potential negative aspects - - I do think that Ha makes a good point, in that it might be really easy for a grandparent to feel unneeded and even lonely after such a move if one's children are used to living without a grandparent there to help out. Your contact with your family might be less frequent than you imagine, and you might miss your present friends. Plus, from everything I have heard, Bainbridge Island is one of the most beautiful locations imaginable and you might miss it, as well as your present magical house and view.

Still, somehow I feel absolutely confident that you have considered all of the various plusses and minuses and have made the right decision for you. So I am hoping that your house sells quickly, and for more than you anticipate. And when it does, enjoy those grandkids!

Mostly, what I wanted to say is that I LOVE your attitude about putting your house on the market!
Quote:
Originally Posted by Brat
If it doesn’t sell then all we will have expended is a couple hundred for a home inspection and a lot of effort cleaning - getting rid of stuff that should have gone years ago.
I am going to try to emulate that attitude when we put our houses on the market, hopefully next year.
__________________
Already we are boldly launched upon the deep; but soon we shall be lost in its unshored, harbourless immensities. - - H. Melville, 1851.

Happily retired since 2009, at age 61. Best years of my life by far!
W2R is offline   Reply With Quote
Old 06-28-2009, 10:56 AM   #16
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
haha's Avatar
 
Join Date: Apr 2003
Location: Hooverville
Posts: 22,983
Quote:
Originally Posted by Want2retire View Post
Of course, there are always some potential negative aspects - - I do think that Ha makes a good point, in that it might be really easy for a grandparent to feel unneeded and even lonely after such a move if one's children are used to living without a grandparent there to help out.
It is a pretty nuanced thing. I would like more contact, but still I am way ahead of where I would be with long distance visits. And like Brat said, I am retired and I can show up quickly to help out when needed, which gives me a deep satisfaction. One younger son and his wife don't yet have kids and their jobs while hard are not so all-encompassing as the older ones. So we can hit a Happy Hour on a weeknight from time to time.

One special factor in my family is my divorce. It makes many things a bit trickier. In particular, the kids are still pretty angry at their mother, which makes her jealous of my better access, etc.,etc. painful etc. Whatever good or bad can be said about divorce, kids don't like it and I can see why.

Ha
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
haha is offline   Reply With Quote
Old 06-28-2009, 11:12 AM   #17
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Brat's Avatar
 
Join Date: Feb 2004
Location: Portland, Oregon
Posts: 7,107
The house next door to us sold after having been on the market over 9 months. I thought the hurdle was the floor plan and the market. The owners finally got desperate and dropped to to 15% less than the assessor claimed it to be worth (horrible comp for us). It turns out that there were condition issues too. The new owners are replacing the roof, repaired a sloping deck, and had to give the house a good shoveling out. Who would have dreamt that on a house originally listed at $1.1M?

There are various theories about a home inspection before listing. It is true that some buyer's home inspectors would miss a 3 foot wide hole in the ground but it does give you an opportunity to fix what might kill an offer or factor its deficiencies in your price. Our home is in great condition but we had it painted last year because it needed to be done. If something was on our maintenance to-do list, we did that. Getting ready can take a while.
__________________
Duck bjorn.
Brat is offline   Reply With Quote
Old 06-28-2009, 11:18 AM   #18
Gone but not forgotten
 
Join Date: Jan 2007
Location: Sarasota,fl.
Posts: 11,447
I am like Brat in that I fly back and forth to visit my daughter ,SIL & grandson . We try to cram a lot into those visits and since they live near Buffalo I rarely visit past Nov. or before April . The thing that has helped tremendously is my web cam . It allows me to talk to my grandson and see him play . The first time he looked startled but now he waves to me when I am on it . I highly recommend one for anybody that has a loved one at a distance .
Moemg is offline   Reply With Quote
Old 06-28-2009, 09:47 PM   #19
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Ed_The_Gypsy's Avatar
 
Join Date: Dec 2004
Location: the City of Subdued Excitement
Posts: 5,588
Yo, Brat,

You have convinced me. You are doing the right thing.

Go for it and enjoy.

Best regards,

Ed
__________________
I have outlived most of the people I don't like and I am working on the rest.
Ed_The_Gypsy is offline   Reply With Quote
Old 07-25-2009, 04:16 PM   #20
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Brat's Avatar
 
Join Date: Feb 2004
Location: Portland, Oregon
Posts: 7,107
There have been several lookers but no offers. We dropped the asking price $50T yesterday. We shall see.
__________________
Duck bjorn.
Brat is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
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
Step up and call the bottom! laurence FIRE and Money 153 11-09-2009 01:34 PM
Step-Grandparenthood Sheryl Life after FIRE 16 01-02-2007 04:51 PM
Taking first step to RE 5yearstogo Hi, I am... 4 03-17-2006 06:12 PM
One step closer Jeremy Ison Young Dreamers 7 11-04-2004 02:54 AM
A small step, but... brewer12345 Young Dreamers 7 09-01-2004 06:08 AM

» Quick Links

 
All times are GMT -6. The time now is 01:10 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2024, vBulletin Solutions, Inc.