Snowbirds on the forum? Splitting time between cities?

[Ronstar]

Ronstar, thanks, that is very helpful. Did you pay cash for your place? If so, do you account for any opportunity costs?

We will be doing exactly what you suggest and renting several places over several periods to see how we like it.

Yes we paid cash, but I don't account for opportunity costs. I consider it a non-income producing asset like our house that in our later years will be sold to bolster our portfolio.

 

[Tree-dweller]

My two places are only 140 miles apart, but differ in elevation by 5,500 ft, so have totally opposite climate.

We maintain utilities at both places, in case we want to come up to spend the weekend, even in the winter, or particularly in the winter to watch snowfall. Having duplicates of household items is not a problem, however, there are often times when I look for some tool and wonder if I left it at the other place.

Money wise, it only costs double to have 2 homes. Well, not quite, since we have been spending more time down in the flat-land home, and it costs more for A/C cooling than the high-country home needs heating. Values are comparable, so insurance and RE taxes are the same. The high-country home needs more exterior maintenance due to the winter.

We do drive back and forth, and did not even have to bring socks and toothbrushes, only food if going up North. Sometimes we did not even bring food, and stopped at a town along the way for grocery shopping.

It's been enjoyable. It only costs money.

By the way, I saw that the OP is mighty young. He has time to decide.

Our condo in the mountains is about 150 miles away. We've had it for 10 years while kids were still at home, but now they're gone and we are lucky if we get up there 4 times a year. Costs including mortgage, utilities, taxes, condo fees, run us about $15k per year. Like NWbound, it's been enjoyable, and it only costs money. But it costs too much money for us, and it's gotten to the point where we feel guilty if we go somewhere besides the condo for the weekend. We're putting it on the market.

 

[someguy]

Not sure that I understand your first highlighted comment. We retired at 59/57 and had allowed to explore this option in retirement. We have not regretted this decision. There are many in our community that snowbird and discussing this with them has given us good insight on how to pull it off. There are also many winter renters where we go (considerable population of Canadians).

Fritz, I was asking early SEMI-retired folks if the expense of a second living arrangement (whether it be purchased or rented) is worth delaying the full retirement date. I am ESR'd now and DW and I are on track for a full retirement in 7-10 years, but if we immediately start diverting $15K/year to snowbirding, that would obviously push the 7-10 back some.

 

[fritz]

Our condo in the mountains is about 150 miles away. We've had it for 10 years while kids were still at home, but now they're gone and we are lucky if we get up there 4 times a year. Costs including mortgage, utilities, taxes, condo fees, run us about $15k per year. Like NWbound, it's been enjoyable, and it only costs money. But it costs too much money for us, and it's gotten to the point where we feel guilty if we go somewhere besides the condo for the weekend. We're putting it on the market.

This is also why we sold our lake place in the late 80's.

Fritz, I was asking early SEMI-retired folks if the expense of a second living arrangement (whether it be purchased or rented) is worth delaying the full retirement date. I am ESR'd now and DW and I are on track for a full retirement in 7-10 years, but if we immediately start diverting $15K/year to snowbirding, that would obviously push the 7-10 back some.

As mentioned earlier in this thread - I've been consulting part-time since we decided to retire, so I believe I somewhat fit the hard to define early semi-retired definition (although I view retirement as no further planned pursuit of full-time work). The consulting money is nice and it's used to reduce withdrawals from retirement savings, but the money for snowbirding doesn't depend on outside earnings (it's in our retirement budget) and we wouldn't do it if it wasn't doable w/o those funds, or if I had to commit to continued part-time consulting to pull it off.

Those we've talked to (who snowbird) before we ventured into it, advised us to try it out before we made any serious commitments (purchases). Found this to be good advice and have passed it along in this thread.

We've lived all across this great country (owned eight primary residences), and business travel was part of my job requirement. This is probably the reason we always look forward to exploring new places. We figured our time horizon in retirement for exploring/snowbirding to hopefully be about +/-15 years, based on what we've learned from those already doing it. This helps keep snowbirding in perspective for us.

 

[kcowan]

.. Once we start "snowbirding", I think I would only allow friends and/or family to use our vacant property.

We got over that feeling when we did the home swaps. It definitely is a real feeling though. So far, we have been lucky but every year brings new challenges.

And we do like the fact that our southern home is never sullied by strangers.

 

[KingB]

Once we start "snowbirding", I think I would only allow friends and/or family to use our vacant property.

Our policy regarding property usage: No house guests when we are not at the property.

When we are not at the property, no one is allowed - not even close friends or relatives. When we are at the property, guests are welcome. They will be house and fed, but no taxi service.

 

[NW-Bound]

When we bought our 2nd home in the high country, I was seriously thinking about relocating up there full-time. The cold there in the winter seemed more tolerable than the heat down in the flat land. So, the place we bought was suitable as a full-time residence. It's got a bit of land, a large hill-side deck with panoramic view, and we have a detached 2-car garage. It was quiet up there, and many retirees who are hermit type live there full-time.

Now, I realize that if we have medical needs (as I did recently), the metropolitan home is a much better choice, so downsizing to the mountain home is out.

I am keeping both for now. Opportunity cost as well as maintenance cost would drive me crazy if I concentrate on that. However, I need to remember the enjoyable time we had up there, plus the numerous times my son and I spent riding our motorcycles though the forest trails. In fact, we should be up there now, if it weren't for a small problem.

 

[Jack_Pine]

Our policy regarding property usage: No house guests when we are not at the property.

When we are not at the property, no one is allowed - not even close friends or relatives. When we are at the property, guests are welcome. They will be house and fed, but no taxi service.

Wow...different strokes...................

 

[MichaelB]

We've had a second place for many years. While we're not totally comfortable with relatives using it while we are absent we have done so and probably will again. All in all, it's only stuff, everything can be replaced. Besides, there is no way we could hope to maintain a property from afar without help from family and friends.

 

[Rich]

My spouse and I snowbird between Cape Cod and AZ (Green Valley, just south of Tucson). I retired in 2010 and we’ve spent two full winters in AZ now. Some things we learned;

DW wants to have two of everything, especially in the kitchen. I just shut up and go along with the program.
We use the post office service which sends us all our mail, once a week. It’s pricey, around $140 dollars a month.
I have a person I trust check our Cape home once a week. We leave the power and heat on. We do have a large whole-house generator which takes much of the worry of pipes freezing off the table for us.
We need four cars; two on the Cape and two garaged in AZ. Looked at all the other options and that was the only one that worked. We do reduce the amount of insurance on vehicles when not at the location. I only wish we could have found a place we liked in Florida so that we could drive a car back and forth, but that did not happen.
We rent our place in AZ, a full-size home. Got lucky with this one as it was fresh on the market (VRBO) and we were one of the initial renters. We have full use of the home for a cost of $10K a year, which includes all utilities, insurances, water, computer, whatever. We get along very well with the owners, a lovely couple who live about 20 miles from us in AZ.
As for eventually buying a place in AZ, we don’t know. My dear spouse would like a second home, I’m not that enthused by the prospect. We have a few years to work this out.

On the whole I like the snowbirding business. Especially missing the “snow” part when it hits back on the Cape!

Rich

 

[NW-Bound]

... We rent our place in AZ, a full-size home. Got lucky with this one as it was fresh on the market (VRBO) and we were one of the initial renters. We have full use of the home for a cost of $10K a year, which includes all utilities, insurances, water, computer, whatever...

That's a lot less than just the opportunity cost of my 2nd home, before I add taxes, insurance, utilities, and maintenance. Gripes!

Of course I would not be complaining if the home appreciated in value, but it has not. Good thing I told my wife and myself to consider it a consumption and not an investment.

 

[teejayevans]

- What tare the requirements for residency? We would like fl. but will only be there 4 months out of the year.

- How does this effect where you buy heal;th insurance (I will have to buy for 5 years)

- How do you handle mail?

- Do you have a house sitter for both places?

- I there an issue with insuring an empty house? (we have heard opinions both ways.............................

You can use St. Brendans Isle in Florida as a mail box service, then have mail forwarded as necessary, they will also scan the mail so you can read it online. Wherever you get your drivers license, register to vote will be considered your primary residence, St. Brendans Isle is my residence, I use the address they provide (its not a mailbox, regular street/Apartment type) to register to vote, taxes, DL, etc
If you are going to leave a house sit empty, make sure the water is shut off. If you have some you trust live in the house, at least problems like a leaking roof, etc can be handled before it escalates into a major disaster.
TJ