Your Residence
Is there any one part of the retirement spectrum that is more individually different than the personal residence?
Not only where and how we live, but how it fits in to our life and our plans for the future. Not a quiz or a poll, but just some observations that seem to point to the residence as playing a big part in our lives. Some thoughts on this in no particular order::
Residence = House, Condo, Apartment, RV, Rental, Commune, YMCA... whatever.
Does it figure into your finances as an investment, to be sold in the future to finance part of your retirement, or do you consider it apart from your "wealth" and just not part of your expenses (ie amortization)?
Rent? Live in one place? Multiple homes? Snowbirding?
Carry a low percentage mortgage and invest rather than own outright?
Do you upgrade? For yourself, or to enhance sale price?
A heritage type home... that is a center for family activities, to be passed on to children? A homestead?
Have an emotional attachment? Children, or long time ownership.
Live there for love of outdoors, scenery, environment, growing things?
Climate?
An efficient, simple base for living while still w*rking or while traveling?
Based in a locale accessible to family?
Staying in present location to await rise in prices, or being underwater.
The house and grounds as a hobby... upgrading, decorating, planting etc.
A place to live until dying?
Social life, friends, entertaining.
The neighborhood- access to shopping, culture, education, physical outlets... golf, hiking, exercise, sailing, libraries etc.
Sized for efficiency- upkeep, cleaning, senior designed facilities: bathroom, ease of access, safety features etc.
Is your residence a major, or minor part of your retiremnt plans. Will you, would you move, and to where? Would/will you buy "larger" or "smaller" than your current abode?
Have you planned your future to include your residence, or is this in a state of flux?
Is "where" you will live important, or are you content to let nature take its' course?
Do you have other plans, for other reasons... that you'd care to share?
Is there any one part of the retirement spectrum that is more individually different than the personal residence?
Not only where and how we live, but how it fits in to our life and our plans for the future. Not a quiz or a poll, but just some observations that seem to point to the residence as playing a big part in our lives. Some thoughts on this in no particular order::
Residence = House, Condo, Apartment, RV, Rental, Commune, YMCA... whatever.
Does it figure into your finances as an investment, to be sold in the future to finance part of your retirement, or do you consider it apart from your "wealth" and just not part of your expenses (ie amortization)?
Rent? Live in one place? Multiple homes? Snowbirding?
Carry a low percentage mortgage and invest rather than own outright?
Do you upgrade? For yourself, or to enhance sale price?
A heritage type home... that is a center for family activities, to be passed on to children? A homestead?
Have an emotional attachment? Children, or long time ownership.
Live there for love of outdoors, scenery, environment, growing things?
Climate?
An efficient, simple base for living while still w*rking or while traveling?
Based in a locale accessible to family?
Staying in present location to await rise in prices, or being underwater.
The house and grounds as a hobby... upgrading, decorating, planting etc.
A place to live until dying?
Social life, friends, entertaining.
The neighborhood- access to shopping, culture, education, physical outlets... golf, hiking, exercise, sailing, libraries etc.
Sized for efficiency- upkeep, cleaning, senior designed facilities: bathroom, ease of access, safety features etc.
Is your residence a major, or minor part of your retiremnt plans. Will you, would you move, and to where? Would/will you buy "larger" or "smaller" than your current abode?
Have you planned your future to include your residence, or is this in a state of flux?
Is "where" you will live important, or are you content to let nature take its' course?
Do you have other plans, for other reasons... that you'd care to share?