Planning my last 20 years, finding a place.
- Thread starter d2reid
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d2reid
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A lot of the places we are looking out started off as Mobile Home Parks. I have seen several in my RV travels that are quite nice. But the majority of them now have 20-30 year old mobile homes as the majority of their residences. Not someplace I wish to live.
The modular home communities that I have visited have a little better over time. Just by the nature of the exterior material used they have held up better. But still, not looking at 20-30 year old madular homes.
So kind of a new thing I have seen is newer large 5th wheels showing up in mobile home communities. And then their are the Park Models, not exactly sure how you would categorize them. While some remain towable most are planted someplace to be left permanently. I think they fall into the Recreational Vehicle category, but to me they look a lot like mobile homes.
d2reid
Recycles dryer sheets
It was definetly a hassle to go through that when we started our travels. Selling a house in 2011 was not ideal. Getting rid of the years of accumulation was a good thing. It taught us a lot about ourselves. Later, when our parents passed, we had another view of getting rid of years of accumulation. Those events really changed my viewpoint about stuff.
There is a simple rule that we follow; If you haven't used it in a year you don't need it get rid of it, unless it holds great sentimental value.
But that is easier said than done. Case in point; when we retired and started our travels someone gave my wife one of those USB electric portrait frames, the one that scrolls through pictures while sitting on the book case. That was 2011, it's still in the box in a cabinet unused. Each spring cleaning cycle I bring the box out and ask her if we should get rid of it, each time she says no, she will get around to doing something with it soon. So I put it back.
As far as the moving part, I have always enjoyed the adventure of a move. Weird huh?
d2reid
Recycles dryer sheets
LOL, we are struggling enough with just the winter decision. We are still pretty capabable of continuing to travel, so right now our plan is to find a winter home base, downsize our RV, and continue to travel and adventure in the summer.
But we will no longer just roam hither and yon. We'll go to the excursion method, where you plot your adventure while sitting at your home base and then jet out for a few months, then come back to plot some more.
We retired in southern NH, 7 miles from the ocean. Sure we get winter snow but, not bad. The ocean effect moderates the local weather. It is not bitterly cold in the winter. Climate change is taking care of that. The bugs aren't too bad.
We have our own house in a nice HOA ... lawn care, snow removal all taken care of. We can walk to our dentist, to our doctor's office, and even into the downtown which has nice shops. We often go to Boston for theater or shows and it's easy to drive to the mountains for camping and hiking.
All that plus, our kids all live in New England so we are quite happy here. We have some friends who moved to Florida when they retired. We enjoy visiting them in the Spring. : )
They are always dealing with hurricane damage. Not for us.
There is no perfect place. I like the quote about the search for perfect being the enemy of "good enough".
We have our own house in a nice HOA ... lawn care, snow removal all taken care of. We can walk to our dentist, to our doctor's office, and even into the downtown which has nice shops. We often go to Boston for theater or shows and it's easy to drive to the mountains for camping and hiking.
All that plus, our kids all live in New England so we are quite happy here. We have some friends who moved to Florida when they retired. We enjoy visiting them in the Spring. : )
They are always dealing with hurricane damage. Not for us.
There is no perfect place. I like the quote about the search for perfect being the enemy of "good enough".
We were there in Orange County for the 1994 Northridge quake. Big crack in our patio. We weren't worried about quakes. For us it was the fires. From 2000-2009 we had to retreat from our San Diego house on 2 occasions because of fires. After the first one we returned to find hot embers on our garage floor. Figured we were 30 minutes away from losing our house.
tryan
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I couldn't fathom selling a decade ago and NOW needing to buy. Sticker shock will be an understatement.
Extra Medium
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I just don’t think anyone can realistically expect to know what their needs -not to mention preferences, interests, abilities- will be in 15 years. When I look back 15 years ago, I was such a different person. I like to think growth is a big influence, but experience keeps changing us, and the world keeps changing, too.
I don’t think it’s fair to our future selves (or wise?) to try to predict the right place to live forever. Life just seems to happen in unpredictable ways.
That said, I think it’s a great idea to try to find the best house for the next few years, with fingers crossed that it’s ‘the one’!
I don’t think it’s fair to our future selves (or wise?) to try to predict the right place to live forever. Life just seems to happen in unpredictable ways.
That said, I think it’s a great idea to try to find the best house for the next few years, with fingers crossed that it’s ‘the one’!
Badger
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The same could be said for a career path. I am amazed that so many people are unhappy with their way of earning a living yet continue to listen to their 20 year old self and don't explore other avenues. Yes, I understand there may be some that are stuck for one reason or another but I can't believe that applies to the vast majority of people.
Cheers!
tryan
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Good friends lived next door on the lake for 7 years .... "House and lake are too small" they said. So they drop $1.5M doing a tear down, rebuild on a larger lake. Then they got the annual property tax bill .... 33k. "OUCH" they said. They are now looking to sell and downsize after 5 years when he turns 70.
Maybe it just me .... 3 addresses/moves in 15 years is not what I want in retirement.
W2R
Moderator Emeritus
Me, either! After a lifetime of having to reluctantly move over and over and over again 
for work, family, or school, retirement has made all the difference. Now, I am enjoying my 9th idyllic year in my Dream Home and hope to never move again.
aja8888
Moderator Emeritus
The only reason we moved from our home of 21 years is that DW couldn't manage the stairs anymore and all bedrooms were on the second floor. So we downsized to a single level brick home 5 miles away.
Actually, the move allowed us to purge a ton of stuff both if us were dragging around for decades that never saw the light of day stuck in a cardboard box.
Actually, the move allowed us to purge a ton of stuff both if us were dragging around for decades that never saw the light of day stuck in a cardboard box.
Teacher Terry
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
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I have moved 30 times. I am sick of it and have been in my condo two years. Planning to go out feet first).
).
2HOTinPHX
Full time employment: Posting here.
Don't jump.... [emoji3075].... LOLI have moved 30 times. I am sick of it and have been in my condo two years. Planning to go out feet first
Ronstar
Moderator Emeritus
I would have to have a low maintenance house to satisfy DW, with 3 car + garage, rural 5+ acres, detached +500 sf workshop, 4 seasons yet mild winters, within 1.5 hrs of major airport, great hiking/ biking nearby. Decent size town with shopping/ medical within 30 minutes.
I've been looking but haven't found this place yet. And I suspect that I won't. And I suspect that criteria will change as we get older. And then we have an elder care situation that further complicates things. Oh well I'll just deal with the status quo and see what happens. We have most of my criteria in place at our current place, so I can live with it as is. Except house maintenance.
I've been looking but haven't found this place yet. And I suspect that I won't. And I suspect that criteria will change as we get older. And then we have an elder care situation that further complicates things. Oh well I'll just deal with the status quo and see what happens. We have most of my criteria in place at our current place, so I can live with it as is. Except house maintenance.
Music Lover
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
I've been in my house for 25 years. Planning on selling in a few (depending on market) so that we can spend the equity before we get too old.
SunGuy
Recycles dryer sheets
I am still a ways off myself, and I may not even retire before 65, I love my field of work (financial services). That would still be around 2053.
My plan for retirement has evolved to include more real estate then I thought I would get before.
I am saving for my first house, intend to get a duplex in about a year, with a 5% conventional first time home buyer type loan.
I too am going to plan for a smaller withdrawal rate to boost the funds I will have at retirement. I will always be 100% stocks/index funds. No bonds ever.
If I get say $1,500 in social security each month adjusted for inflation in equivalency for today, it would probably equal $3k+ past the year 2053.
Then if I get at a minimum of $1k a month in cashflow to my hopefully fully paid off real estate, for each duplex, I want to get at least 4.
And may down the road do a 1031 exchange and scale up to a apartment building of at least 50 units, enough to support a full time maintenance live-in worker, and a full time live-in office worker.
So that is roughly $4k-5k a month before my investments even come into the picture.
My plan for retirement has evolved to include more real estate then I thought I would get before.
I am saving for my first house, intend to get a duplex in about a year, with a 5% conventional first time home buyer type loan.
I too am going to plan for a smaller withdrawal rate to boost the funds I will have at retirement. I will always be 100% stocks/index funds. No bonds ever.
If I get say $1,500 in social security each month adjusted for inflation in equivalency for today, it would probably equal $3k+ past the year 2053.
Then if I get at a minimum of $1k a month in cashflow to my hopefully fully paid off real estate, for each duplex, I want to get at least 4.
And may down the road do a 1031 exchange and scale up to a apartment building of at least 50 units, enough to support a full time maintenance live-in worker, and a full time live-in office worker.
So that is roughly $4k-5k a month before my investments even come into the picture.
Your list comes close to where I moved 3 years ago.
Middle Tennessee, I’m on 47 acres with one part being a hayfield (a local comes twice a year to rake and roll and we spilt the profit which gives me agricultural property status which means lower property taxes)
Lots of hiking and fishing and biking within short distance, I also made trails for walking into the woods so I can hike with the dogs without leaving the property
Guest house serves as an Airbnb. It’s not too close to the main house so everyone can enjoy privacy.
Publix and Sprouts 27 minutes drive. Nashville airport is 55 minutes away.
Good healthcare in Murfreesboro 25-30 min away.
I’m single and do some of the farm chores myself.
Nothing is perfect but the seasons are fine, i don’t find the summers to be awful at all.
Out-to-Lunch
Thinks s/he gets paid by the post
Wow, you joined this forum when you were 19?!?! That is amazing.
SunGuy
Recycles dryer sheets
lol yeah, I was reading it even before that, grew up with a lot of my relatives investing, multiple became millionaires from it over the decades.
I opened an investment account and started my Roth IRA when I was 18, just didn't make much.
Read Peter Lynch as a kid, and now I work at Fidelity
Focusing more on real estate now, saving up for a duplex in a year or so.
Had to help my brother and his girlfriend out for nine years financially so it put me behind, but happy they are moving out of the house we rent together into a place of their own.
OldShooter
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
In the big picture, that's a good strategy. Our first house was a duplex and it eventually led to a small string of residential rentals and landlording for about 25 years.
Things are changing though, and not in a good way for landlords. In many metro areas landlords are viewed as greedy and evil and very negative laws are being passed. No just rent control, but things like limiting what factors can be considered in tenant selection, rules on evictions, onerous rental licensing rules, etc. Then there is the matter of localized housing bubbles and government bodies like Illinois teetering on the financial edge and, probably, looking to property taxes as a lifeline.
Location, location, location, they say. There is probably no time in recent history where picking the location of rental property was more important than now. Choose carefully, considering local anti-landlord sentiment and the financial stability of the property's taxing authorities. Combine rent control with property taxes going through the roof and your investment could die.
SunGuy
Recycles dryer sheets
Thanks for the this a lot, I read a lot to prepare myself for all of the hurdles to come, and I learned some from my relatives who have done it.
Most of them just buy single family homes as rentals, or just have vacation properties.
I want to move to Kentucky to be closer to my parents, and I know their landlord rules are pretty favorable for the landlord. But not as good as Indiana where they live, or Arkansas where a lot of my dads side of the family is from.
I think I will bite the bullet on short term diminished cashflow and hire a property manager, want to build a long term business relationship with one near my age that is local.
Right now my plan is to live in my side of the duplex for around five years, and save up over that time for the next property, and repeat the process every five or so years.
My brother and parents, and maybe cousins, all have talked with me for years about us all investing together as a family syndicate group and buy bigger apartment buildings, so that is something to work towards.
OldShooter
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Well, you didn't ask for advice on this but I'll offer some anyway: Mixing business and family is fraught. There is a huge variety of situations where business issues can destroy family relationships. Examples: The apartment business has negative cash flow for some reason, possibly uninsured losses. One or more family members is unable or unwilling to come up with their share of the cash assessment. One or more family members strongly disagree with decisions made by the managing partner. One or more family members want "out" and insist that the building(s) must be sold. One family member has a financial emergency, possibly the member's death, divorce or bankruptcy, and insists on getting bought out of their share. Family members strongly disagree on the building(s) valuation in connection with a sale or a single member buyout. ... The list goes on and on. All of these scenarios can be handled with a well-written partnership agreement, but no agreement can prevent consequent hard feelings from damaging family relationships. Goodwill and consensus is guaranteed at the beginning of the effort, but not for longer than that.
