Question about being Homeless (our decision)

[donheff]

I'm amazed that prices have held up with doubling of mortgage rates. If I was interested in downsizing I would definitely consider getting out now while the getting is still good.

 

[d2reid]

I have been "homeless" for a little over 10 years now. Full time Rv'ing has it's challenges. One of them is legal correspondence, another is jury duty. I started off using a relatives address, but that created a burden for them, junk mail. They were hesitant to throw anything away for fear I might miss something important. I looked at all of the mail services and went with St. Brendans Isle in Florida because I was already a Florida resident. They scan and post the front page of the correspondence, I then decide to have it scanned so I can read it, forwarded to where I am at, or shredded.

Jury duty. When I used my relatives address it was a problem, the county they were in had a lot of snow birds, so they were testy about folks that claimed they were not available due to travel. When I changed to the mail service the county clerk knew of the service and the people that used it, so was much more tolerant of "unavailable due to extended travel".

The Know Your Client or Know Your Customer (KYC) policy has been a PITA. I actually had a bank VP tell me "I am sorry sir, we cannot do business with you!". I was trying to open a CD account... There is a huge section of the population that just doesn't understand someone without a physical address. But I have opened accounts at small banks in the midwest where this has not been an issue, they just work around it. The last two accounts I opened I used my son's address as the physical location, then made sure my mailing address was my mail service. That worked very smoothly. But if you are not going to open any new accounts you won't need to do this.

All the rest of the legal stuff has been pretty easy, absentee ballet for voting (although that may get harder), vehicle registration renewal online, taxes online, drivers license renewal online, SS accepts my PMB (personal mail box) address.

ACA's. I just signed up for the AARP PPO. They allow service outside of your home area. You have to read that part very carefully. The HMO's are tough on being in your area. The PPO's allow you to change primary physicians and they don't have to be "local". Most of the plans require that you change your address to the local area to get service, the AARP PPO does not require this. You really have to read the specifics very carefully to understand why this is important, I have talked with several ACA specialists who knew nothing about this.

 

[bobandsherry]

I have been "homeless" for a little over 10 years now..... I looked at all of the mail services and went with St. Brendans Isle in Florida because I was already a Florida resident. They scan and post the front page of the correspondence, I then decide to have it scanned so I can read it, forwarded to where I am at, or shredded.

I had done some research today on mail forwarding services. I had found this site: https://www.mortonsonthemove.com/rv-mail-forwarding-services/

SBI was one that I was giving consideration too. I'm a FL resident too, so it just seems to make things easier. As a side benefit, by changing to that zip code I'll save $150/mo on my same ACA plan. You been satisfied with their service? I expect to be "homeless" for well under a year, but who knows, we may enjoy the freedom.

The Know Your Client or Know Your Customer (KYC) policy has been a PITA. I actually had a bank VP tell me "I am sorry sir, we cannot do business with you!". I was trying to open a CD account...

I worked for JPMorgan/Chase for 35 years, have my accounts there. So I don't consider that a hurdle, but appreciate you mentioning that.

ACA's. I just signed up for the AARP PPO. They allow service outside of your home area. You have to read that part very carefully. The HMO's are tough on being in your area. The PPO's allow you to change primary physicians and they don't have to be "local". Most of the plans require that you change your address to the local area to get service, the AARP PPO does not require this. You really have to read the specifics very carefully to understand why this is important, I have talked with several ACA specialists who knew nothing about this.

I had only seen that AARP had Medicare plans, didn't know they offered off market plans. My FloridaBlue plan shows I have coverage outside my local area, they provide a link to find providers in other areas and still "in network". I will call Monday to discuss further and confirm. What is the plan name you have from AARP PPO? And if you don't mind, how much is the premium?

 

[audreyh1]

If you are spending extensive time with grandkids, maybe their address can be used unless it causes tax issues.

We had an option with the TX Escapees mail service as we used them to handle our mail, but instead we used the address of a an RV park that we stayed at frequently each year, and before that my MIL’s address.

This was post Patriot act.

 

[Retired Expat]

Get a digital mailbox. Your mail goes to a mail center, they open and scan and you see everything online. No waiting for mail to catch up. Of course they can forward mail if needed, deposit checks etc. For Banking and some govt transactions you need a permanent address but you don’t have to receive mail there. So your new home can be your legal address even if you don’t live there.

 

[d2reid]

What is the plan name you have from AARP PPO? And if you don't mind, how much is the premium?

Uhoh, I may have made an assumption that doesn't apply to you, yet. I just recently turned 65 and started Medicare part A and B. Part B costs $170 a month. Then I added AARP Medicare Advantage Choice (PPO) plan. Premium is zero.

If you are not yet 65 then my advice will have to wait a while.

 

[gotlost33]

We used SBI when fulltiming in the RV 2017-2020, and they were great to deal with setting up residence in FL and all the transfers which you wont have to deal with already being FL resident.

Drivers license, insurance, auto and voter registration used their box address with no problem. Most financial accounts were fine too, the only one that gave any trouble at that time was AMEX that wanted a physical address other than SBI as "home" so we used a family member for that, but they mailed to SBI. Had insurance through work, but at that time had seen many people on RV boards having no trouble with ACA using SBI.

 

[brett]

My wife and I are considering downsizing from our 2 story 4 bedroom ranch to a new smaller ranch in a 55+ community. Most homes are taking forever for completion.

After some thought we are considering selling now and doing some extended traveling to spend some extended time with our grandkids. housing market is hot and perhaps we see some air being let out of prices, so we may be able to buy lower (I know, risk it could move higher too - I get that and willing to accept that risk).

We'd just pack all our stuff up in a storage unit and hit the road. A month in Honolulu to visit our daughter, a month in Chicago to visit our son, a month in the Smokie Mountains, take a few extended cruises, etc. We would do this until our new house is ready.

But as I started to think about this, we no longer have a physical home address (mostly for vehicle registration/insurance and the big one, health insurance purposes). We can't be the only ones to have considered or are doing this.

We could ask our friend/neighbor to use theirs (makes things simple), or perhaps we use the address for or parents (making the point we are then living with them). Son and both parents live out of state so that would impact our health insurance.

I know the simplest answer is to buy a resale, but in our current area it's either a really old 55+ community (homes built in the 90's) or builds in new communities. We may still do a resale home, but exploring all our options. First time since we got married that we'll have zero responsibilities that force us to stay in one place.

Looking for feedback from those who have done similar. What's the best/easiest and what's the downside things we need to think about.

Apologies if this has been discussed previously, but did a search and came up empty.

We did exactly that. For a year. We traveled internationally for seven months. Then came home and rented a furnished apt in a downtown area for three months. month. It was a great experience.

We traveled to Europe, Africa, US, Central America. Independent, spontaneous travel mixed in with four last minute cruises, an African safari and a month long winter condo rental in Costa Rica where our son joined us for a week. Best thing we ever did. We were not even certain where we wanted to live when we returned or what type of housing we wanted. Lots of indecision surrounding those.

After all that, we rented a condo for four years because our real estate market was in the toilet. Dumb luck. Placed our home sale money in the market and it did incredibly well.

Having an address was a no brainer and easy to do. Relatives, friends. Just be cognizant of any income tax implications if applicable. It is just an address. No worth over thinking this part. We moved everything to our son's address in the city where we lived.

One benefit to this is we took the time to review and to consolidate our finances and investments. We needed to make them much easier to manage if need be whilst travelling. the other benefit is most everything important has been moved to email. Lots of the junk mail that followed us around for years stopped arriving (though it could be inflicted on those who now live in our former home).

My advice would be not to sweat the small stuff or come up with imaginary problems. Get the container and strorage arranged, then move forward with the rest. Our experience is that it is not at all daunting.

 

[imnontrad]

Get a 6 month/1 year lease on a PO box at someplace like the UPS store near your new home and have your mail forwarded from there.
OR you could consider establishing residency in a state without state income taxes and find a mail forwarding company there until you move into your new home. They accept all your mail then they could forward all to you or have another service like scanning in the envelope front and then either trashing it, opening up and scanning the contents or forwarding it to you.
If your new home is in a state with income taxes, you might be able use this period where you are a "resident" of that no tax state to do pre-tax retirement account withdrawals, including Roth conversions.

 

[Koolau]

Homes built in the 90s are “really old?”
[emoji23][emoji23][emoji23][emoji23]

The newest addition to my current house (The Homestead on the mainland) was built in the '90s - the 1890's. It's all in your perspective, I guess so YMMV.

 

[bobandsherry]

The newest addition to my current house (The Homestead on the mainland) was built in the '90s - the 1890's. It's all in your perspective, I guess so YMMV.

Here in FL, a home built in the 90's isn't up to current hurricane mitigation codes. Those end up with about $3K premium for hurricane coverage. Those are also not up to current energy standards, so those homes cost 3x more for electricity than a newer home. And in FL, roofs over 10 years now need to be replaced before insurance with cover the home. So while "the 90's" may not sound old, by current standards they are. So indeed it is in own's perspective.

 

[NoEZmoney]

Establish a "Domicile"

As others have said, you can establish a "mailing address/domicile" with p.o.box and mail forwarding service. I've seen a few folks post on YouTube how they did it legally but it does require vehicle registration and getting new drivers license in Texas. This also helps them avoid paying state income taxes as being considered residents of Texas on paper but you'll want to verify that with a tax consultant. Worth a look. Link below:

https://escapees.com/

 

[Koolau]

Here in FL, a home built in the 90's isn't up to current hurricane mitigation codes. Those end up with about $3K premium for hurricane coverage. Those are also not up to current energy standards, so those homes cost 3x more for electricity than a newer home. And in FL, roofs over 10 years now need to be replaced before insurance with cover the home. So while "the 90's" may not sound old, by current standards they are. So indeed it is in own's perspective.

Our biggest weather related issues was (over the years) too much snow on the "new" portion of our house. It broke all the ceiling timbers (believe it or not, the builder used 2 x 4s 24 inches on center. Wow.) Amazing the roof didn't collapse before we rebuilt the 90's part back in the 80's. Ah yes, the joys of old houses. Doncha just love 'em? YMMV

 

[Retired Expat]

As others have said, you can establish a "mailing address/domicile" with p.o.box and mail forwarding service. I've seen a few folks post on YouTube how they did it legally but it does require vehicle registration and getting new drivers license in Texas. This also helps them avoid paying state income taxes as being considered residents of Texas on paper but you'll want to verify that with a tax consultant. Worth a look. Link below:

https://escapees.com/

Domicile is a somewhat complicated matter. You take a job on another state, sell your home etc. In 2 years you move back and the place you lived all those years migh consider those 2 years a temporary relocation and not a change of Domicle. NY wouldn’t accept my change until I proved that my pets had moved and I could show I changed doctors as I still travelled back and forth quite a bit.

It used to be your phone bill helped but now you take your number and area code with you. You can bank from anywhere, a P.O. Box or mail service will not suffice if you get audited
! They want proof your “life” is in the new place, doctor, church, health club membership. And if you move mid year you have to prove which state can claim you for taxes!

Now I own a home in the US but live and am domiciled out of the country. A little complicated at first

 

[NoEZmoney]

You're correct about domicile being a complicated matter. The link provided is for folks who travel a lot and was first established for RV users who needed an "address" while they moved about. In recent years non-RV'ers have discovered this site as a way to use a technicality to establish some type of legal address in U.S. while they move about (i.e. "Winter Texans"). In Texas it appears as long as you have a vehicle registered and get state driver's license, that gets you a Lone Star location.

 

[brett]

We had absolutely no issue with domicile. Used our son's address for the year that we were homeless. He lived in the same city as us...before and after.

We moved everything to email, did change of address for all important items.

Never a problem. It sounds a little daunting. Really...it was the easiest part of the entire selling/downsizing process.

One thing we did was arrange for a larger safe deposit box at the bank. We placed all important papers and valuables in the box for safekeeping plus any paperwork that we knew we would need immediately after returning home.

One of the biggest revelations....The cash flow required to turn the key in our previous home even though we had no mortgage. Taxes, insurance, mtce, utilities, not to mention the $50 and $100 trips to Home Depot that we no longer needed to take. We knew the numbers but it really hit home when those monthly bank and credit card charges were no longer hitting.

Our only expense.....monthly storage fee to PODS storage and a renters insurance to insure our PODS contents.

Those monthly savings plus the after tax equity growth of monies invested from our home sale more than paid for our 7 months of international travel.

 

[bobandsherry]

As others have said, you can establish a "mailing address/domicile" with p.o.box and mail forwarding service. I've seen a few folks post on YouTube how they did it legally but it does require vehicle registration and getting new drivers license in Texas. This also helps them avoid paying state income taxes as being considered residents of Texas on paper but you'll want to verify that with a tax consultant. Worth a look. Link below:

https://escapees.com/

I'm fortunate, already living in FL and with FL license and now a new FL mail forwarding service. So taxes are not an issue for me. Thanks

 

[bobandsherry]

We had absolutely no issue with domicile. Used our son's address for the year that we were homeless. He lived in the same city as us...before and after.

We moved everything to email, did change of address for all important items.

Never a problem. It sounds a little daunting. Really...it was the easiest part of the entire selling/downsizing process.

One thing we did was arrange for a larger safe deposit box at the bank. We placed all important papers and valuables in the box for safekeeping plus any paperwork that we knew we would need immediately after returning home.

One of the biggest revelations....The cash flow required to turn the key in our previous home even though we had no mortgage. Taxes, insurance, mtce, utilities, not to mention the $50 and $100 trips to Home Depot that we no longer needed to take. We knew the numbers but it really hit home when those monthly bank and credit card charges were no longer hitting.

Our only expense.....monthly storage fee to PODS storage and a renters insurance to insure our PODS contents.

Those monthly savings plus the after tax equity growth of monies invested from our home sale more than paid for our 7 months of international travel.

Unfortunately, no family here in FL to use their address. Using an IL or HI address (son and daughter) not practical. But have set-up with mail forwarding here in FL, we'll see how that goes. Worse case we will "rent" a room from a friend of ours for an address.

I've started to move everything to online statements where possible.

We've just rented a climate controlled storage unit. Started to move some stuff there, and will plan to move everything into storage in the next month as long as closing goes as planned.

One thing I haven't been able to find is a safe deposit box. I checked with my bank, Chase, they stopped safe deposit boxes. A few other local banks don't have one. So I'll continue the search. But, friends have offered to store our lock box safes, guess that can be why we need to "rent" a room from them

Sounds like you enjoyed your time being "homeless" - Thanks

 

[Koolau]

I never had any problem changing states. All I did was get a new state ID (DL). I even have a car in my old state and no one seems to care. YMMV

 

[brett]

Sounds like you enjoyed your time being "homeless" - Thanks
bobandsherry is offline Report Post


....so much so that I would do it again in a New York minute! The only thing I would change is to travel internationally for 12-14 months instead of 7.