Retiring to Urban Life

[daylatedollarshort]

We eventually want to move to a 55+ community with bike trails and bus service. In California the housing prices are much less at the 55+ communities we've looked at because they aren't being bid up by younger tech workers or foreign investors, so they are islands of relatively reasonably priced housing inside high demand bubble areas.

Cheap housing, great locations, lock and go condo, bike trails, bus service, someone else does the grounds and exterior maintenance, all sorts of on site clubs, pools and facilities and we can age in place. So far we have not found a better option long term housing option that suits us.

We have some elderly neighbors living in houses that are deteriorating that they could sell up and buy an updated condo for 1/3 to 1/4 the price in an active senior community. It seems like such a better life to us I don't know why they stay alone in big house they can't seem to keep up. Every once in a while one dies or goes to a senior care home and a flipper or younger couple comes in and makes the house a show place.

 

[pixelville]

We eventually want to move to a 55+ community with bike trails and bus service. In California the housing prices are much less at the 55+ communities we've looked at because they aren't being bid up by younger tech workers or foreign investors, so they are islands of relatively reasonably priced housing inside high demand bubble areas.
... (stuff deleted) ... and a flipper or younger couple comes in and makes the house a show place.

daylatedollarshort, can you share more details on what you found. I had assumed the 55+ would be the same prices as the rest of real estate in Bay Area. Or PM if you prefer that. A few names/locations and approx rates would be invaluable. Thanks.

 

[Huston55]

daylatedollarshort, can you share more details on what you found. I had assumed the 55+ would be the same prices as the rest of real estate in Bay Area. Or PM if you prefer that. A few names/locations and approx rates would be invaluable. Thanks.

+1

Also interested in what you found.

 

[daylatedollarshort]

We are looking at a community of places that used to be called Leisureworld. There is one in Nor Cal called Rossmoor. We looked at the condos there and really liked what we saw so far. We went once with a realtor and once for an estate sale. You can check out the prices online and then look at prices at the surrounding communities. The HOA fees are high but we would save money on recreation and maybe could go down to one car and of course there are a lot of savings from downsizing in general.

In S Cal there are two places formerly Leisureworld - Laguna Woods and Seal Beach. If you do a search there is a long thread on this forum with input from the locals. We are going to check out those in person the fall, but are intrigued with the prices especially of Laguna Woods compared to Laguna Beach right next door. There are also some youtube video tours to look at for Laguna Woods homes and models.

There were some nice 55+ places we looked in Sonoma County but so far the ones we saw looked a bit rural for us.

Here is my original Laguna Woods thread -

http://www.early-retirement.org/forums/f29/laguna-woods-leisure-world-anyone-71908.html

(I should add by lower cost I mean lower cost compared to the surrounding communities, maybe still expensive compared to 55+ villages in lower cost of living states like Texas or Florida.)

60 Minutes had a recent special on aging that highlighted residents of Laguna Woods -

http://www.cbsnews.com/news/want-to-live-to-90/

 

[pixelville]

Thanks, daylatedollarshort. As you pointed out, HOA fees are indeed steep.
Condo prices in the NorCal (Walnut Creek) area seem all over the place.
Walnut Creek 2 bedrooms 2 bathrooms Condos For Sale — Trulia.com

 

[Huston55]

Wow. Looking at this and your old thread withe pics of Walnut Creek condos is like a trip in a time machine...back 30 years. DW and lived in WC in the mid-80s, and used to drive past Rossmoor all the time. I'm not sure I'd want to move back to the East Bay but, there are a lot of worse places.

 

[Accidental Retiree]

I have been doing a similar 55+ search for my brother and ran across The Colony in Murrieta, CA.

Single family homes in the 200s-low 300s, gated, golf course, $200 HOA, with several homes for sale.




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[daylatedollarshort]

I have been doing a similar 55+ search for my brother and ran across The Colony in Murrieta, CA.

Single family homes in the 200s-low 300s, gated, golf course, $200 HOA, with several homes for sale.




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Those are excellent prices for CA coastal metro area living.

 

[fidler4]

Murrietta, CA is inland and not near the coast plus it gets hot in the summer out there. It is forecast to be 100 today.


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[daylatedollarshort]

Murrietta, CA is inland and not near the coast plus it gets hot in the summer out there. It is forecast to be 100 today.


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It is not Central Valley or Sierras.

 

[M Paquette]

Thanks, daylatedollarshort. As you pointed out, HOA fees are indeed steep.
Condo prices in the NorCal (Walnut Creek) area seem all over the place.
Walnut Creek 2 bedrooms 2 bathrooms Condos For Sale — Trulia.com

You can ignore the goofy prices on anything that says 'in forclosure'. It's not going to sell for that price.

Also, a bunch of those 'condos' are converted apartment buildings. No frills like insulation, soundproofing, or appliances better than the finest 'contractor grade'. Many aren't actually in the walkable 'urban' environment we've been talking about. It's a long, long walk to anything retail from some of those Rossmoor condos or the stuff on the east side of Walnut Creek. (There's a whole neighborhood that looks like it is right next to retail centers, but it's a long walk north or south, over, and back to get there.)

The variations in quality and location explain a good bit of the price variation.

Not that I've been looking or anything...

 

[Options]

I just read a study about future trends in real estate in the past two or three weeks that completely refutes the popular idea that boomers are moving to urban centers en masse. I'll try and find it and post the link.

I have lived in one of only three walkable urban cities in Southern California for more than a few decades (but not for too much longer). If you've lived in suburban areas for most of your life and are thinking of moving to a central city core there are several things to consider:

1) in one way or another, they're just too trendy/sexy/crazy/cool for you (each city has its own brand of what's cool);
2) as was posted earlier, they are very noisy;
3) they are stimulation rich, in that you will almost never get respite unless you leave the city;
4) the pace of life is extraordinary--due to the population density, buying milk can be an ordeal (even though you walked just across the street to get it);
5) sure there's lots of culture, but you'll brave lots of crowds/lines to participate in most of it;
6) your personal "space" will be invaded on a regular basis;
7) driving in urban areas can drive you crazy.

It might be a good idea to ask yourself how you'll feel at 75 living in such an environment. Personally, I plan to test drive my retirement location (which won't be in an urban area) by renting for a few months before making a commitment.

 

[Accidental Retiree]

Murrietta, CA is inland and not near the coast plus it gets hot in the summer out there. It is forecast to be 100 today.


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Yep, it's hot today, but as all my Texans tell me, when I point out their hot, humid weather, that is what pools and A/C are for. I am using both today.

There is also a nice breeze that blows through, starting in early afternoon, so that it's refreshing to get out of the pool.

A drive over to Carlsbad or Oceanside will get you the ocean breezes. It's a nice day trip.

The Colony has a pool, clubhouse, hairdresser, a golf course, green belts, and is near plenty of shopping and medical facilities, including Loma Linda University's.

I hear people, including my brother, talking about Palm Springs and La Quinta as desirable, so I mentioned The Colony here since it is not as hot, closer to the ocean, and still relatively affordable for CA for someone who may be considering a 55+ community.

I have been very pleasantly surprised over the past couple of months at our new area.


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[daylatedollarshort]

You can ignore the goofy prices on anything that says 'in forclosure'. It's not going to sell for that price.

Also, a bunch of those 'condos' are converted apartment buildings. No frills like insulation, soundproofing, or appliances better than the finest 'contractor grade'. Many aren't actually in the walkable 'urban' environment we've been talking about. It's a long, long walk to anything retail from some of those Rossmoor condos or the stuff on the east side of Walnut Creek. (There's a whole neighborhood that looks like it is right next to retail centers, but it's a long walk north or south, over, and back to get there.)

The variations in quality and location explain a good bit of the price variation.

Not that I've been looking or anything...

At Rossmoor the shopping is not easily walkable, but they have shuttle buses to a walkable downtown area. The clubs and facilities within the community looked like they would be walkable or at least bikeable or golf cartable. There were very pretty views and the grounds were well landscaped.

For the crime rates, amenities, on site security, landscaping, golf courses, pools, shuttle service, etc we have not found anything for similar prices in Nor Cal.

I am open to suggestions. We go to open house once a month or so to 55+ and all age condos and townhouses just to see what our choices are.

 

[Badger]

You may not want to retire downtown in Jacksonville, Fl. Most people who work in town leave as soon as possible after hours. It is too dangerous at night, not convenient, and there is very little in the way of shopping anymore. Most businesses moved out decades ago. Violent crime is down for the past 2 years and is only 33% HIGHER than the national average. It has only done a little better lately but for 11 years it was the murder capital of Florida. It lost out to Miami a couple of years ago. It also scores high for rape and assault.

The city has been trying for a few decades to reverse the trend and tried various incentives with no success. I've lived in the county for almost 5 decades. There have been quite a few changes and I have a good idea of what parts of town to avoid but that would usually be true for anyone who has lived in/near a city for a few years.



Cheers!