Indirectly by paying your rent or HOA fees but it isn't your responsibility. You don't have to seek out contractors, interview them, check references, etc. And you don't have to let them go if you're not pleased with their work. If they accidentally damage something, you're not the one who has to deal with it. Someone else handles all of that. You just pay your share.
I see many responses voicing concerns about stairs while aging. Stair lifts are an easy solution, aren't that expensive and certainly cheaper than moving. Maybe I'll see things differently in 10 or 20 years.
That's an important observation, in general (not just regarding living arrangements). I'm barely in my mid-50s, and don't notice much change over the past... 50 years. I am basically the same person as I was in, well, in childhood, not to mention young-adulthood or early middle age. But one hears that things really start changing at age 60-65, and especially so, another decade or two thereafter. So, I can extrapolate my needs/wants/sentiments with some confidence, to maybe a decade into the future. Beyond that, it's foggy.
Not really. Don’t have that mindset. You shouldn’t let old age ( or in your case impending old age) define how you live your life. I certainly don’t. At 79 I can unequivocally say this is the absolute best times of my life.
. DW also enjoys playing her piano and Hammond organ; though we might have to get rid of one if and when we downsize, it would be less intrusive in a smaller home than an apartment (and I do not even know if, in the places we have looked at, they would allow that in an apartment).
Sometimes it is just the two steps onto the porch or those into the vast majority of attached garages that are the most problematic.
That is why when we bought a house in Florida, it had to be one story, so the stair decision would be out of the equation.
I sold my house nine years ago and moved to a condo on the intercoastal waterway in Fort Lauderdale. I’m much happier. I miss my garage in my backyard in my garden but everything else about is better. And cheaper.
While owning our home was wonderful, we decided to sell it during Covid and became full time Floridians. Note we already also owned a small 2 bedroom condo in Marco , doing the snow bird thing , then decided to upgrade to a larger 3 bedroom unit, Honestly it is just wonderful having nothing to do like yard work snow blowing. Yes we pay an association monthly fee but considering we have no mortgage the association fee/insurance/utility bills etc still is so much lower than renting! Note age wise we did the move from selling our larger 4000 sq ft home on 1 1/2 acre lot 6 years ago when we were 66 and don't; regret a second of it. As for just plane out renting , we have never been a fan due to having no equity building up, so for us buying into an association (where everything maintenwise is taken care of) has been ideal for us. But it all comes down to dollars and sense and what works for each person.
At its current price of $1193 with a qualified dividend of $75/yr, $600K of WFC L series Preferred stock will net you $37,720 of dividends each year ($3143/mo) distributed quarterly. This perpetual preferred cannot be converted unless Wells Fargo common stock reaches $203 for 20 of 30 consecutive trading days. Current Wells' price is $80. Wells' has been in business since 1852. So their business will outlast all of us on this forum. Bottom line - Super safe, cannot be called, qualified dividend, and yields a little over 6%.If you know of a secure investment in which $600K can generate $3000 a month going forward, please let me know!
Or just go deaf
It's a tough choice but, for you, the pros seem to outweigh the cons. Good luck!!
You are tempting me.
There is only 1 alternative<snip>
Beginning to wonder if it's worth it to get old.
