The house/condo is part of the equation. My suggestion...live near a good sized university. Communities like this offer unlimited options for seniors to get involved. Not all FIRE are seniors, but opportunities to be productive are everywhere. Highly likely there are classes offered very cheaply, activities that keep you thinking. You're around young people who are intelligent and exciting. Even part time work would be rewarding and not some mundane 20/hour a week drudge. So many awesome volunteer opportunities. Don't get me wrong, I love the mountains and the ocean, but how long does a view keep you occupied? You can have both, usually that's super expensive like Bolder, CO or University of Miami area. Just a thought.
What is your preferred Home in Retirement? SF, Condo, Townhouse, APT?
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Danmar
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One of our places is a condo apt. Downtown Toronto. Have owned it for about 20 years. It was built in 1982 so getting on. Agree they are very convenient and just simply lock it and leave it. Great for retirees although the quality of governance given the requirements for regular maintenance for an older building, is an issue. Many owners want to minimize their condo fees but expensive things need to be done. I don't get involved and we aren't there very much, but I can see how it is becoming an issue.
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Koolau
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
What is your preferred Home in Retirement? SF, Condo, Townhouse, APT?
I've tried all of them. I lived on an acre with a 1600SF ranch. Nice, but i hated the yard work and other maintenance. Apartment was like a condo but without the (good) rules. Townhouse was just about perfect, but the particular one we had was in a rain band and DW couldn't deal with it. Now, our condo is what we were looking for. The rules (for the most part) make sense and keep most of the noise and other issues of "closeness" at bay.
Nothing is perfect but you have to live somewhere. If I were infinitely wealthy, I suppose I'd live in a SF again and have a "staff" to deal with everything. Barring that, a condo seems to be our best compromise. YMMV
I've tried all of them. I lived on an acre with a 1600SF ranch. Nice, but i hated the yard work and other maintenance. Apartment was like a condo but without the (good) rules. Townhouse was just about perfect, but the particular one we had was in a rain band and DW couldn't deal with it. Now, our condo is what we were looking for. The rules (for the most part) make sense and keep most of the noise and other issues of "closeness" at bay.
Nothing is perfect but you have to live somewhere. If I were infinitely wealthy, I suppose I'd live in a SF again and have a "staff" to deal with everything. Barring that, a condo seems to be our best compromise. YMMV
ncbill
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my in-laws have lived in suburbia in a SFR (one story, with walkout garage/basement) for over 50 years.
it's on less than a half-acre, but still has a large lawn and garden.
one of them already has had major health issues, including a kidney transplant.
so I wouldn't plan on being able to keep up with such once in one's 70s.
never planned on staying so long in our current town home, always thought i'd move to a traditional SFR.
but it is decently-sized (3/3) and has been easy and cheap to maintain (everything outside taken care of for one monthly fee)
it's on less than a half-acre, but still has a large lawn and garden.
one of them already has had major health issues, including a kidney transplant.
so I wouldn't plan on being able to keep up with such once in one's 70s.
never planned on staying so long in our current town home, always thought i'd move to a traditional SFR.
but it is decently-sized (3/3) and has been easy and cheap to maintain (everything outside taken care of for one monthly fee)
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Which Roger
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To me, home maintenance is a combination physical, intellectual, and creative pursuit. The physical part is obvious. The intellectual part comes from learning the skills needed to do a remodeling or repair job. The creative part comes from the design required before doing a project. It's not about saving money. I can afford to pay someone to mow the lawn or fix the air conditioner or landscape the yard or remodel the bathroom. But where's the satisfaction in doing that?
Roughly half my retired friends are like me in this regard, and the other half enjoy living somewhere where someone else does everything for them. So the answer to the OPs question really comes down to which camp one is in.
Roughly half my retired friends are like me in this regard, and the other half enjoy living somewhere where someone else does everything for them. So the answer to the OPs question really comes down to which camp one is in.
wrigley
Full time employment: Posting here.
Exactly. I do all maintenance that I can and it has absolutely nothing to do with money. I enjoy the physical aspect as well as the challenges of learning new skills. Also, the quality of work is much higher when I do it myself, even if it takes considerably longer. Contractors do not share my attention to detail. For me, the sense of accomplishment, for a job well done, is everything.
That said, I still hire out some jobs or certain aspects of a job. For example, we recently built a sidewalk around one side of our house that leads to a raised garden bed. I built the garden, cleared the path through a bed of Asian jasmine, installed steel edging in a pleasing design (new skill for me), put down 3 layers of landscape fabric, and relocated some sprinkler heads. Then I hired a company to bring in 5 yards of garden soil, 7 yards of 1" river rock, and 1.5 tons of flagstone. They moved all that material in about 5 hours. After they left, DW and I spent the rest of the day rearranging the flagstones in the river rock to suit our aesthetic and design objectives.
I'm 56 and I suppose my attitude may be different when I'm 76. But for now, I'm a devout DIYer and always have been. One of the main reasons I retired was to have more time to work on home maintenance and improvement projects because it's one of many things I enjoy doing.
daylatedollarshort
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We looked around and decided to stay in our SFH for now. We eventually plan to move to a townhouse in a retirement village but may put that off until we are older and need help driving. For now we are hesitant to give up the personal space and backyard we have with the SFH. Plus the extra upkeep gives us some extra exercise and keeps us busy.
kcowan
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Yup. It takes more time, with more sunscreen, a hat, and more rests, and electrolytes in place of beer. Also dehydration can make you dizzy enough to fall off a ladder.
Bite your tongue!
W2R
Moderator Emeritus
I'm not infinitely wealthy, but I am only 69 and don't have to have a full staff to deal with everything yet. I have a lawn guy to mow and take care of my yard, and I have a handyman that I call in once or twice a year.
But I think that eventually I might need a housecleaner (as much as I detest the invasion of privacy of having someone in my home every week or two).
And if/when I really start to decline, I might need some sort of assistance to dress, cook, shower, and so on. Maybe at that stage I will need to have a live-in or else move to a CCRC or nursing home. But then again, maybe I'll die first; I'd rather not, but some people do.
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Danmar
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I went from a SFH (15 years) to a condo (9 years) back to a SFH. The condo was lovely in a great neighborhood but I hated interacting with the HOA and the general sense of "communal living." It wasn't all that different from living in an apartment. I am a very independent person and largely an introvert; these two things make my home a slice of heaven to me. I live alone in 1500 square feet and love every inch of it! It is an urban setting and I do have neighbors on either side quite close to me, but I lucked out as they are all very nice, quiet, respectful people.
I love condo living. My back yard is the beach and Pacific Ocean. Beautiful to look at and no maintenance required. [emoji41] It's a great "lock and leave" place, rules aren't onerous, and most of the residents are quiet and pleasant neighbors. It's all one level and has elevators from the parking garage. There is public transport right outside the front door of the lobby. Excellent for aging in place but has also been a great place to live in our 40's/50's. We downsized from a 3,500 sq ft house on a 1 acre lot, and now spend weekends paddling, biking, and/or doing fun things with friends instead of tending to a large property. With only 2 of us and 1 dog, a 1,600 sq ft condo is plenty big enough. If we ever relocate, I'd likely choose a condo again.
Another thought is that I believe many probably dismiss condos because they think of them as all the same. But "condominium" just refers to the legal setup. The physical arrangement can vary quite a bit. Large apartment type buildings, rows of townhouses, individual houses, just about anything you can think of.
My current condo development is just 17 units (individual houses), so we don't even have a management company -- we handle everything ourselves. We have a great landscape/lawn maintenance/snow removal outfit and another for the irrigation system. Minor and major maintenance projects are handled as they come up. We keep a very healthy reserve fund for contingencies.
Mostly lawyers, doctors, and other professionals, either retired or old enough to be retired. Best neighborhood I've ever lived in. Very tolerant people, too -- they put up with me!
My current condo development is just 17 units (individual houses), so we don't even have a management company -- we handle everything ourselves. We have a great landscape/lawn maintenance/snow removal outfit and another for the irrigation system. Minor and major maintenance projects are handled as they come up. We keep a very healthy reserve fund for contingencies.
Mostly lawyers, doctors, and other professionals, either retired or old enough to be retired. Best neighborhood I've ever lived in. Very tolerant people, too -- they put up with me!
The link is to the home page for the corporation that operates our CCRC in Peru, and another 23 similar communities in Illinois, Iowa and Nevada.
https://www.simplythefinest.net/
Suggestion... spend a few minutes looking around the different videos to get an Idea of what to expect in different parts of a CCRC It may be different from what you might expect. In any case, check out the FAQ for some of the most common questions, as... What happens if I run out of money, or are pets allowed? Each different part of the CCRC is covered. While you won't likely be looking in this area, the questions are ones that you should be ready to ask, wherever you may be considering.
The second picture (click) on the first page, is the identical house to ours. 1590 sf, two car garage, vaulted ceilings and all built with retirees in mind. We love it here. all outside work is provided... trees, bushes, lawns and exterior finishes,although we own the home. Cost for exterior care and "ahem" snow removal is $150/mo. and the service is excellent.
Clicking around on the first page will bring you to the features and services in each part of the CCRC, as well as the towns where the different "Liberty Villages" are located.
I have been to several of the other communities, and they are all relatively new, like ours mostly built in the early 2000's.
Because we've lived here since 2004, we haven't found any downsides, and will be comfortable when it comes time to move into the apartments, assisted living or whatever the future holds.
The blue spruce in our front yard, was small enough for me to reach the top with a star at Christmas when we moved in... It's now 22 feet high
https://www.simplythefinest.net/
Suggestion... spend a few minutes looking around the different videos to get an Idea of what to expect in different parts of a CCRC It may be different from what you might expect. In any case, check out the FAQ for some of the most common questions, as... What happens if I run out of money, or are pets allowed? Each different part of the CCRC is covered. While you won't likely be looking in this area, the questions are ones that you should be ready to ask, wherever you may be considering.
The second picture (click) on the first page, is the identical house to ours. 1590 sf, two car garage, vaulted ceilings and all built with retirees in mind. We love it here. all outside work is provided... trees, bushes, lawns and exterior finishes,although we own the home. Cost for exterior care and "ahem" snow removal is $150/mo. and the service is excellent.
Clicking around on the first page will bring you to the features and services in each part of the CCRC, as well as the towns where the different "Liberty Villages" are located.
I have been to several of the other communities, and they are all relatively new, like ours mostly built in the early 2000's.
Because we've lived here since 2004, we haven't found any downsides, and will be comfortable when it comes time to move into the apartments, assisted living or whatever the future holds.
The blue spruce in our front yard, was small enough for me to reach the top with a star at Christmas when we moved in... It's now 22 feet high
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mountainsoft
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We built our 1456 sq/ft home in 2004 with the intention that it would be our forever home. I designed it with a single level, 36" wide doors for easy wheelchair access, and a curbless roll in shower. I may have to have a ramp installed on the exterior if I lose my mobility, but otherwise I see no reason why we can't live in our home the rest of our lives.
We recently had to move my mom to an assisted living home, so I have learned a lot in recent months. Our plan is to hire in-home care if we ever reach a point where we can't care for ourselves fully. It would take a serious downturn before I would ever move out of my home.
At 54 I do all my own yard work with a self-propelled walk-behind mower (roughly 3/4 acre to mow). I enjoy the exercise and being outdoors. If I ever reach a point that I can't walk that distance anymore, I'll probably invest in a riding mower. If I reach a point that even that is too much, I'm not against hiring a lawn care service. Oh, and a sexy little maid...
traineeinvestor
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Apartments for us - less hassle + the lock and leave element.
We are looking at going from a 1942 built solid brick/slate roof colonial w/2400sf SFH and detached 2 car to a new construction 2900sf 3 level townhouse condo with personal elevator, and 2 car at ground level. I've been maintaining and making improvements on every SFH (4) I've bought and lived in since 1986. While the ROI has been great, the cost in terms of free time has been tremendous. I love the house we are in, the solid construction, the garden back yard, and all the personal renovations I have made over the last 10 years. But DW has always wanted a different design and floor plan, and at 65 she wants to try this before she is too old to make another change if it isn't what we hope it will be. I've come to realize that it is time to realize all that sweat equity and gain back my life from work AND the house in retirement. It will make travel so much easier. NEVER thought I would live in a townhouse, but these are the first really well built ones, that are well designed, ideally located (for DW), & designed for both living now and as we age in place, that I personally have found acceptable, and at 60, I am ready to not do any more outside maintenance and yard work. If after we get all the travel bug out of our system, we would still be young enough for one more move if we decide townhome living is not for us.
Music Lover
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
I'm currently in my retirement home...1000 square feet on 1.7 acres. I've been here for 20 years and it's close to ideal in a perfect location, on a quiet street, secluded from the neighbors, and 1 minute away from driving outside the city. I plan on staying here for the foreseeable future.
OP
OP
ShokWaveRider
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Too Hot and humud there for me there in summer and somewhat Land Locked. I prefer bein near an Ocean.
Bestwifeever
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We will likely stay in our small two-story house forever--it feels like we have lived here forever anyway! Climbing stairs several times a day keeps us in shape (and I have read that the more one climbs stairs, the longer one will be able to climb stairs--and since we already have these 15 steps up to our bedroom and down to the basement with laundry, and eight up from the sidewalk to our porch, I of course believe that to be true ) and able to tour castles, climb mountains, etc. on our travels. We use a lawn service for fall cleanup and periodic stuff, and for mowing when we have been out of town, and have housecleaning every two weeks. If we had to move it would be to a brand-new condo with rock solid walls, tons of insulation, and super soundproofing, in a warm weather location, and a communal workout room with a stairclimber .
) and able to tour castles, climb mountains, etc. on our travels. We use a lawn service for fall cleanup and periodic stuff, and for mowing when we have been out of town, and have housecleaning every two weeks. If we had to move it would be to a brand-new condo with rock solid walls, tons of insulation, and super soundproofing, in a warm weather location, and a communal workout room with a stairclimber .If you find one could you let me know?
There were some 2.5 million buck condos selling across the river here. I said "Man if I could afford one of those I bet they'd be plenny soundproof!!
Story in the news one night was about people who bought there complaining about how thin the walls were and how they could hear the neighbors! Not only do you not get what you pay for but apparently even people who can afford 2.5 million dollar condos are crappy neighbors!
