Retirement Housing Lessons Learned

[Nords]

When I see this oft-repeated advice, I always wonder: what does one do with one's house and belongings in the meantime? I think this is great advice for people who don't have a lot of possessions, or have some place to stash them while renting!
Amethyst

Put your precious stuff in storage (which will help you define just how precious that stuff is) and rent the place out fully furnished for six months (which will ensure that you give your new location at least six months).

Or you could try for a softer approach using house swaps and house sitters.

 

[Culture]

It really does have a number of criteria I didn't think I would get without building. It needs a few changes but nothing is perfect.

Even if you designed and built a perfect home, you would realized soon after moving in that in fact it is not perfect .

 

[Culture]

When I see this oft-repeated advice, I always wonder: what does one do with one's house and belongings in the meantime? I think this is great advice for people who don't have a lot of possessions, or have some place to stash them while renting!

Amethyst

I thought moving was an excuse to sell everything and start over!

 

[Brdofpray]

My DW's dream was to build her dream home in a warmer climate. With that being said, we found a lot we both loved in just one weekend (This surprised us, as we often have a hard time making big decisions without weeks of weighing the options). We spent the last year of our working lives overseeing the construction of our new home from afar. For many this would be an extreme hassle. We found it refreshing. It was hard, but it kept us going in that last year. We made monthly trips from Chicago to SC, to check on things. We drove! Sometimes in a long weekend! Many thought we were nuts. We found the time spent was very worthwhile. We talked, we dreamed, we really connected over this project.

We always thought that we should rent and live in our new found environs, before we bought and built. You know, to make sure we really like the area, that we would fit in, and could make the transition from the north to the south. That opportunity never became a viable option. In fact, it was steamrolled by the fast paced circumstances we found ourselves in.

In the end, I left work on my final day of employment on August 31, 2009. We drove nonstop, through the night, to SC where we began our new life on September 1, 2009. To date, there have been no regrets. We love the area, the people, and the multitude of activities and possibilities available to us.

Just one story of many.

 

[Bestwifeever]

When I see this oft-repeated advice, I always wonder: what does one do with one's house and belongings in the meantime? I think this is great advice for people who don't have a lot of possessions, or have some place to stash them while renting!

Amethyst

Or people who don't have family members to periodically check on their fully furnished house in Chicago while they're renting a furnished place for six months of the year--this would be a problem for us.

 

[W2R]

Or people who don't have family members to periodically check on their fully furnished house in Chicago while they're renting a furnished place for six months of the year--this would be a problem for us.

I wonder if realtors might do this? I am pretty sure they do it for sellers who are out of town, so I am thinking that for a fee, they might do it for others.

Down here, realtors are having a pretty tough time making ends meet, and the slow real estate market might push them to consider such arrangements.

 

[Amethyst]

Based on our 3-year experience with property managers, they never actually visit the property to check on anything unless a tenant asks them to, and then they charge extra for doing so. I wouldn't dare depend on any property manager in our area checking on a vacant property. What good is it if they come out to check, 3 weeks after your pipes have frozen and burst, or vandals have broken in and ransacked?

Neighbors are too preoccupied with their own affairs, and no relatives live nearby. This is also why we don't feel we can go south for the winter, leaving our house empty.

Lately I have been fantasizing about webcams in every room, over the water heater, etc. but even that would only "alert" us to disaster far away - it wouldn't actually do anything to stop it.

Amethyst

I wonder if realtors might do this? I am pretty sure they do it for sellers who are out of town, so I am thinking that for a fee, they might do it for others.

 

[Midpack]

My DW's dream was to build her dream home in a warmer climate. With that being said, we found a lot we both loved in just one weekend (This surprised us, as we often have a hard time making big decisions without weeks of weighing the options). We spent the last year of our working lives overseeing the construction of our new home from afar. For many this would be an extreme hassle. We found it refreshing. It was hard, but it kept us going in that last year. We made monthly trips from Chicago to SC, to check on things. We drove! Sometimes in a long weekend! Many thought we were nuts. We found the time spent was very worthwhile. We talked, we dreamed, we really connected over this project.

We always thought that we should rent and live in our new found environs, before we bought and built. You know, to make sure we really like the area, that we would fit in, and could make the transition from the north to the south. That opportunity never became a viable option. In fact, it was steamrolled by the fast paced circumstances we found ourselves in.

In the end, I left work on my final day of employment on August 31, 2009. We drove nonstop, through the night, to SC where we began our new life on September 1, 2009. To date, there have been no regrets. We love the area, the people, and the multitude of activities and possibilities available to us.

Just one story of many.

Great story!

 

[Nords]

I wonder if realtors might do this? I am pretty sure they do it for sellers who are out of town, so I am thinking that for a fee, they might do it for others.
Down here, realtors are having a pretty tough time making ends meet, and the slow real estate market might push them to consider such arrangements.

Heh. That reminds me of a story.

In 1984 when I was in submarine school in New London, CT, I got orders to Charleston, SC. Looking through our alumni magazine gave me the name of a realtor down there, and she happened to be married to a submariner.

I took a trip down there for a whirlwind real estate review, and we hit it off. We found a place, I signed the papers, and she closed the deal while I finished school. Back then I spent something like $49.5K for a Mount Pleasant condo called "Village Creek".

A few months later I was getting ready to go on patrol and my place would be vacant for 107 days. I happened to notice her ad in the alumni magazine where her company offered to put up sub school officers in a hotel for the weekend for free. I was at a time in my life when I had few possessions and no sentiments. I offered her the keys to my place to rent to these officers (and their spouses) for the weekend they came down to look at real estate, or for the few weeks that it would take for them to close.

When I came home, the place was immaculate. There was a check on the kitchen counter for my share-- over $1000. I ended up doing this for five more patrols over the next three years. Then I moved to California and sold the condo for something like $50K.

So, yeah, the right realtor might be willing to use your place as a crash pad for clients.

 

[Moemg]

When we decided to move from New Jersey to Florida we rented a two bedroom condo and took just enough to furnish it . All the rest of our furniture we sold before we moved . Got rid of tons of stuff but still had a moving van packed . We made sure the condo had a garage so the unpacked boxes lived there for the year. It was hard . I never felt settled until we found our house and moved in.It did help us find the perfect location so that worked out well . If I had to do it again I would get rid of even more before the move .Different areas require different furniture and life styles.

 

[GetNclose]

Katsmeow and Culture,

I am in the same process and area as you are. Have you looking at using the Houston Owner Builder network to essentially be your own build manager? The promise is you get the house you want for significantly less than buying new from a builder. Essentially, you buy you lot, pay building costs and not the builders profit. This is not an add, it is an alternative that I am considering and wanted to know if you had looked at it.

 

[militaryman]

1. "Do we stay near family, if we do, does this mean in the same county or same state? "

We are of the thinking on this one of NOT staying near family, but the area we want to retire to is a very appealing vacation destination that family will want to come a stay with us. So the thinking is to buy a nice enough place so that when family wants to come visit they will be comfortable and it will be a great experience.

 

[Brat]

That's what we thought too... With both parents working and all the other pressures of family life do they want to spend their vacations visiting parents Rarely!!

 

[Culture]

In the end, I left work on my final day of employment on August 31, 2009. We drove nonstop, through the night, to SC where we began our new life on September 1, 2009. To date, there have been no regrets. We love the area, the people, and the multitude of activities and possibilities available to us.

This is an encouraging story! I love to hear about success. To often we only hear of failure.

 

[Culture]

Katsmeow and Culture,

I am in the same process and area as you are. Have you looking at using the Houston Owner Builder network to essentially be your own build manager? The promise is you get the house you want for significantly less than buying new from a builder. Essentially, you buy you lot, pay building costs and not the builders profit. This is not an add, it is an alternative that I am considering and wanted to know if you had looked at it.

I have seen this, but have not looked at it in detail, so I have no comment on the organization.

Generally speaking, I think acting as your own GC is a great idea, if you are a construction professional with experience in residential construction, good at project management and have lots of time. Otherwise, I have doubts about the viability of the proposition. However, I could be wrong.

 

[Katsmeow]

Katsmeow and Culture,

I am in the same process and area as you are. Have you looking at using the Houston Owner Builder network to essentially be your own build manager? The promise is you get the house you want for significantly less than buying new from a builder. Essentially, you buy you lot, pay building costs and not the builders profit. This is not an add, it is an alternative that I am considering and wanted to know if you had looked at it.

I looked at it very briefly. Basically I felt that I didn't have the expertise to effectively do it and it seemed a headache. I do think that it is a viable alternative for someone with the expertise and time and inclination to do it.

 

[james7]

I want to be able to travel a couple of months at a time and do not want to worry about my property, so renting will work for me. An urban area is important so I can bike/walk for errands. We will only have one car and I would prefer to put no more then 4,000 miles per year. An active urban community where my volunteer activities will have a positive affect on my immediate neighbors. The urban location needs to offer easy access to low traffic bicycle riding ( a mile or two outside of town). Mild winters that make it easy for going outdoors. Finally, I am looking at something around 1500 SF and am willing to put up with the crowds that may occur for a short period at holiday times.

Exactly what I want, only with low property taxes and very low crime. Please let me know if you find it.

 

[haha]

I want to be able to travel a couple of months at a time and do not want to worry about my property, so renting will work for me. An urban area is important so I can bike/walk for errands. We will only have one car and I would prefer to put no more then 4,000 miles per year. An active urban community where my volunteer activities will have a positive affect on my immediate neighbors. The urban location needs to offer easy access to low traffic bicycle riding ( a mile or two outside of town). Mild winters that make it easy for going outdoors. Finally, I am looking at something around 1500 SF and am willing to put up with the crowds that may occur for a short period at holiday times.

Would you like whipped cream and a maraschino cherry with that?

 

[guvnerwl]

New member, first post, please be tolerant of forum culture violations. We are within 4 - 6 months of purchasing a retirement home. Recently sold residence and vacation home. We are struggling with the question of cash or mortgage for our retirement home. My brain says mortgage, my heart says cash. What say ye? BTW, glad to find this site. This site will be a valuable resource.

 

[REWahoo]

New member, first post, please be tolerant of forum culture violations. We are within 4 - 6 months of purchasing a retirement home. Recently sold residence and vacation home. We are struggling with the question of cash or mortgage for our retirement home. My brain says mortgage, my heart says cash. What say ye? BTW, glad to find this site. This site will be a valuable resource.

Welcome to E-R.org.

Please take a few minutes to introduce yourself on the "Hi, I am..." forum.

As to your mortgage/no mortgage question, it is one of the common topics here, discussed ad nauseum with no clear right or wrong answer. Here are a few of those threads for reference. http://www.early-retirement.org/for...f-the-mortgage-or-invest-the-money-30644.html

My personal take on the question: do what makes you feel best.

 

[MooreBonds]

One thing they missed in their renovations was how use of the place changes if mobility becomes an issue. They could have incorporated more mobility accommodations: larger hallways and adequate door widths, easy to use handles, planning for usage patterns that avoid stairs, accessible bathrooms, and the like at the time of their original renovations very easily. Instead they went through several additional projects as these became more important to them.

+2

As a fellow engineer, I'd suggest you rethink your disdain of building your own home. True, it may have a few headaches, and once you move in you will find a handful of things that make you say "Oh, if only we did ____".

HOWEVER, consider the cost of enlarging those door frames, or replacing the tub with a shower. Or (as we happened to find out with a pleasant surprise with my grandmother's house and her final days of life), imaging having to get an ambulance stretcher maneuvered around some incredibly tight corridors of older homes. And that's just from an accessibility aspect, not counting the media room and other 'wish list items' you'd want.

Also, if you go with a builder, most will be more than happy to tweak floor plans to give you (nearly) exactly what you want. And try looking at a bunch of different floor plans that they already have - you might be pleasantly surprised and find something that already is almost everything you want, minus a few of your finishing touches. Any builder is willing to put in a half bath, or move a wall a little bit, or do this or that for you (sure, it might cost a little more, but you get almost exactly what you want).

Plus, the newer floorplans often incorporate the fewer, larger rooms that will make Mrs. Culture swoon. (AND, you can only show her a few floorplans that don't have that unused dining room, but instead have a large eat-in kitchen with an attached large hearth/family room).

 

[Midpack]

New member, first post, please be tolerant of forum culture violations. We are within 4 - 6 months of purchasing a retirement home. Recently sold residence and vacation home. We are struggling with the question of cash or mortgage for our retirement home. My brain says mortgage, my heart says cash. What say ye? BTW, glad to find this site. This site will be a valuable resource.

Not as imminent, but we're going to be in the same boat. I would ordinarily go cash, but with interest rates so low a mortgage is a consideration. Even so, if I don't go cash, I'd probably get a mortgage expecting to pay it off way early - another option. As REW noted, do a search here for lots of other views.

 

[james7]

New member, first post, please be tolerant of forum culture violations. We are within 4 - 6 months of purchasing a retirement home. Recently sold residence and vacation home. We are struggling with the question of cash or mortgage for our retirement home. My brain says mortgage, my heart says cash. What say ye? BTW, glad to find this site. This site will be a valuable resource.

Real estate is like love; always go with your heart.

If your brain says mortgage, you should ask it why. Maybe there is a good reason? It woud have to be an awfully good reason for one to ruin their retirement years with fees, mortgage payments, and hard earned money out the window in the form of interest.

 

[Nords]

We are struggling with the question of cash or mortgage for our retirement home. My brain says mortgage, my heart says cash. What say ye?

If you go the 30-year fixed mortgage route, at the lowest rates in 50 years, then you'll have three decades to change your mind. Not so easy to pay cash up front and then try to change your mind.

 

[Alan]

I want to be able to travel a couple of months at a time and do not want to worry about my property, so renting will work for me. An urban area is important so I can bike/walk for errands. We will only have one car and I would prefer to put no more then 4,000 miles per year. An active urban community where my volunteer activities will have a positive affect on my immediate neighbors. The urban location needs to offer easy access to low traffic bicycle riding ( a mile or two outside of town). Mild winters that make it easy for going outdoors. Finally, I am looking at something around 1500 SF and am willing to put up with the crowds that may occur for a short period at holiday times.

That pretty well describes what we have retired to. Initially to 1450' of living area plus double garage, then 2 years into retirement down to 1250'. We have 150 miles of bike trails from right outside our complex to lots of small shopping areas. Summers are hot though, which is why we 'lock and leave' for much of the summertime and head for cooler climes.