Retiring in a Million Dollar home or a Multi-million Dollar Home

[NW-Bound]

Quote:

Originally Posted by kgtest ... A 22MM home was literally in my back yard. https://www.zillow.com/homedetails/1...zpid/?mmlb=g,3

Very nice home indeed!

But I do not see living quarter for a live-in gardener and a live-in housekeeper. That would be what you need for this place. If you could hire a married couple for the above jobs, that would be best.

I am one who likes to cook, but others might want to have a cook too.

[HI Bill]

Quote:

Originally Posted by ShokWaveRider If we thought we could find a decent home ~2500 sqft in Hawaii for under $1m, we would probably consider moving there. The higher cost of living does not bother us as much as the outlay for the home in the first place.

Check out Hawaii Island...there are some decent homes around that much.

[HI Bill]

Quote:

Originally Posted by NW-Bound But I do not see living quarter for a live-in gardener and a live-in housekeeper. That would be what you need for this place. If you could hire a married couple for the above jobs, that would be best. I am one who likes to cook, but others might want to have a cook too.

+1. I'd go for a chef, and have a masseuse come in once every two or three days!

[Markola]

As my carpenter friend mutters when he sees the big old elegant wooden houses around here, “Nothing but maintenance.”

[Scuba]

Quote:

Originally Posted by CaliKid We recently have been debating this. Looking at a new city to move to. We own a rental there in a Sun City neighborhood. It's a nice 3/2 but small (under 1,500 sq). It's worth $250k. It is completely livable without question. However, once we got there we realized we might like a bigger house, maybe on a golf course, ok maybe a country club, blah, blah, blah.... and before you knew it we were looking at $1m - $1.5m homes in the 3,500 - 5,000 sq range. We can afford it but it would reduce our travel budget. For us it's just a matter of which we want more. We don't really "want" a huge home but once you start looking at them it is easy to get sucked into some daydreams about owning such a "show" house and the grandkids swimming in the big pool and all that. Luckily cooler heads prevailed and we have not bought anything yet and are now looking in the 2,500 sq range in "lesser" neighborhoods that are only single gated rather than some of the fancier "double gated" hoods. Hopefully we will get it down to $700k or so for a very nice, move-in ready, home. We shall see. The struggle is real. Lol.

I can relate to this. DH and I were looking initially at $300-$400K condos in the desert. It didn’t take long for us to migrate up to the $550-$650K price point. Still condos, just nicer ones in more upscale developments. We’ve even checked out a few SFR’s, but they tend to be over $800K, more like $1M+ for something really nice.

[ivinsfan]

Quote:

Originally Posted by Scuba I can relate to this. DH and I were looking initially at $300-$400K condos in the desert. It didn’t take long for us to migrate up to the $550-$650K price point. Still condos, just nicer ones in more upscale developments. We’ve even checked out a few SFR’s, but they tend to be over $800K, more like $1M+ for something really nice.

My DSis spent way more then she planned for the house she bought 5 years ago.
Asked the realtor to show her the dream house that she saw on the internet as her first showing. The realtor who was an acquaintance told her if you look at this one first none of the other ones will be good enough and this one is a 100k over your budget top... you can guess the end of that story...this wasn't in a hot market so sister hasn't gained much in appreciation on that house.

[ShokWaveRider]

Quote:

Originally Posted by HNL Bill Check out Hawaii Island...there are some decent homes around that much.

Yes but Unfortunately, Oahu has more/better access to healthcare. My cardiac device needs checking every 6 months. I have read they fly folk to Oahu for anything out of the ordinary. I have not heard/read anything different as of late.

[dirtbiker]

Reading all the posts of super expensive "average" houses makes me super glad to live a LCOL area where $500k gets you a mansion... Of course, we have no views of the ocean and nobody is clamoring to live here...

[ncbill]

Quote:

Originally Posted by Markola As my carpenter friend mutters when he sees the big old elegant wooden houses around here, “Nothing but maintenance.”

When my father-in-law (retired in his early 50s) hit his early 70s he replaced every wooden window on his brick ranch house himself with vinyl ones.

And had all the exterior wooden trim replaced with or covered with vinyl siding.

Then paid for the 2 roofs he had put on himself to be replaced with 30-year shingles.

He figures that takes care of most all of the exterior maintenance for the rest of his life.

[Rianne]

Quote:

Originally Posted by dirtbiker Reading all the posts of super expensive "average" houses makes me super glad to live a LCOL area where $500k gets you a mansion... Of course, we have no views of the ocean and nobody is clamoring to live here...

I understand beautiful views, but how long can one appreciate a beautiful view? My DB lives in Fort Lauderdale, the ocean view hotels are lovely but after dark it's a big black hole. Kind of scary. Mountain/valley overlooks are amazing, but to pay so much more for that view everyday does not seem worth it. How often can one overload their senses to be "wowed" by a view. Look at that view, 20 seconds, nice and move on.

[ShokWaveRider]

Quote:

Originally Posted by Rianne I understand beautiful views, but how long can one appreciate a beautiful view? My DB lives in Fort Lauderdale, the ocean view hotels are lovely but after dark it's a big black hole. Kind of scary. Mountain/valley overlooks are amazing, but to pay so much more for that view everyday does not seem worth it. How often can one overload their senses to be "wowed" by a view. Look at that view, 20 seconds, nice and move on.

Problem is once you have had one it is hard to go back. We have not had a view of rear or front neighbors for 15 years. Just lakes wildlife and palm trees, no ocean view but that is only a walk away. Try giving it up for neighbors front and rear?

[dirtbiker]

Quote:

Originally Posted by Rianne I understand beautiful views, but how long can one appreciate a beautiful view? My DB lives in Fort Lauderdale, the ocean view hotels are lovely but after dark it's a big black hole. Kind of scary. Mountain/valley overlooks are amazing, but to pay so much more for that view everyday does not seem worth it. How often can one overload their senses to be "wowed" by a view. Look at that view, 20 seconds, nice and move on.

Very true. I actually love where I live. I live in the mountains with tons of outdoor stuff to do. Great offroad riding. Great motorcycle riding roads. My wife, on the other hand, would love to live next to the ocean. Me? I'd pass. Who knows what we'll decide when we retire though.

[Scuba]

Quote:

Originally Posted by Rianne I understand beautiful views, but how long can one appreciate a beautiful view? My DB lives in Fort Lauderdale, the ocean view hotels are lovely but after dark it's a big black hole. Kind of scary. Mountain/valley overlooks are amazing, but to pay so much more for that view everyday does not seem worth it. How often can one overload their senses to be "wowed" by a view. Look at that view, 20 seconds, nice and move on.

I can honestly say that after 16 years of living on the sand with the Pacific Ocean as our view, we are still in awe of it often. Maybe not every single day, but several times a week, it’s beautiful to see the ocean shimmering in the sun. And at night, there are lights that shine on it from nearby islands so that is beautiful too. I think we’d feel similarly about mountain views in the desert. YMMV

[socca]

Quote:

Originally Posted by Rianne I understand beautiful views, but how long can one appreciate a beautiful view?

I paid $40k over the going rate in my subdivision for a house with a wonderful view - worth every penny. I enjoy the view every day. Now that I'm spoiled I would require a nice view in any house that I would own - YMMV.

P.S. The quality of the view is often a top marketing point aimed at the folks who buy the multi-million dollar places down along the coast.

[timemoveson]

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Originally Posted by Scuba I can honestly say that after 16 years of living on the sand with the Pacific Ocean as our view, we are still in awe of it often. Maybe not every single day, but several times a week, it’s beautiful to see the ocean shimmering in the sun. And at night, there are lights that shine on it from nearby islands so that is beautiful too. I think we’d feel similarly about mountain views in the desert. YMMV

Fully agree. Many of us pay mega-bucks (i.e., millions) for this and enjoy every moment of every year of ownership of these types of homes and properties. And, when the time is right we pass them on to others who share the same values and we or our estates/heirs recoup the substantial appreciated stores of wealth they represent. If it works for you, it's all good!

[daylatedollarshort]

We don't have an ocean view but we live near view trails and a state park with mountains. Our lot is wooded so the views come more into play when we go for a walk around the neighborhood or on the trails, which we do every day. Haven't tired of the views yet after several decades. We can see a play in San Francisco, go on a hike in the Redwoods or be in wine country in under an hour. We really enjoy all the outings and day trips in the area so for us it has been a pleasant location to stay in for retirement, despite the opportunity cost of not moving somewhere less expensive.

[GreenEggs]

I love my views too. We live on a lake and also have a cabin in the mountains. They both have wonderful views. I admit waterfront is pricey, but mountain land doesn't have to be expensive.

Enjoying the beauty of nature all of the time is a special way to live. Besides the views, the lake is also there for boating, swimming, and fishing. And in the mountains, there are trails to hike & ride and rivers to enjoy.

After living in homes with beautiful views I can't imagine living without one.

[tb001]

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Originally Posted by GreenEggs After living in homes with beautiful views I can't imagine living without one.

This. I have a theory, probably wrong, that some people like to be ‘tucked in’ and some like a view. I love privacy, but if there’s a view, the first thing I do in a new place is walk to the window and look out.

Our last home was tucked in among the trees. Beautiful and very private, but there’s something different about seeing an expanse and the horizon, whether it’s the ocean, a prairie or the desert. Our home now has an amazing view of the hills. We wake up to the sun coming up over the hillside and the sun sets a beautiful rose colored sunset on the same hillside. We’ve lived here a year and not a day goes by that I don’t stop and take it in.

I would love an ocean/water view, but prefer larger lots and more privacy than those typically provide, so this will have to do

[ShokWaveRider]

I think folks that have never had a good view do not miss it, those that have, will certainly do so. Personally, I am not a direct ocean view person, people on the beach would put me off for a start, we could afford it within reason but choose not to. It is bad enough living walking distance from the beach with respect to home maintenance that is, salt water takes a real toll, AC units do not last as long, the outside of the home and roof take a beating as do the windows.

But a water view is so calming, and when all the deer and bird life are out in force, it is very pleasant. Fishing is an afterthought, I used to do that a lot but not anymore, if the water was a salt water canal I would probably fish more. Our favorite sight is a when family of otters are milling about and at the same time a mother duck with her ducklings swim by. It does not happen often, but when it does it is a real treat.

[dirtbiker]

Quote:

Originally Posted by tb001 This. I have a theory, probably wrong, that some people like to be ‘tucked in’ and some like a view. I love privacy, but if there’s a view, the first thing I do in a new place is walk to the window and look out. Our last home was tucked in among the trees. Beautiful and very private, but there’s something different about seeing an expanse and the horizon, whether it’s the ocean, a prairie or the desert. Our home now has an amazing view of the hills. We wake up to the sun coming up over the hillside and the sun sets a beautiful rose colored sunset on the same hillside. We’ve lived here a year and not a day goes by that I don’t stop and take it in. I would love an ocean/water view, but prefer larger lots and more privacy than those typically provide, so this will have to do

My current house is tucked in among the trees. We have no view (other than of the forest and some nearby houses), but I do like the 'treehouse feel' of being tucked away in the woods. This being said, I'd love a good mountain view. Ocean view? Meh. Different strokes for different folks.

Oh, and the worst part about being tucked away in the woods is fall cleanup when the leaves come down. I don't pay anyone to do my lawn, so it's all left up to me. I absolutely hate it. Once I retire and I'm out of savings mode, I think I'll pay someone to do the fall cleanups. I'll continue doing my own lawn maintenance otherwise as long as I can, as I really enjoy it.