Downsizing -- pros/cons?

We actually moved down from the Northeast 23 years ago for my husband’s job. Raised kids here and last year downsized 3 miles away. We’re blown away by the real estate prices but this area has been a bargain forever so its coming into its own. People are also moving up from South Florida because of the crowding there. There are at least 3 over 55 communities and two are scheduled to be built as well but we’re in a golf course community outside of Jacksonville. Just love it

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Thanks for sharing, dke! I love hearing all the ways different types of locales/houses are right for different people! I’m still figuring it all out, lol

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We are following kids, and are aware that they will possibly move (though not likely they love where they live and lots of opportunity for them). I don’t believe the kids moving is a given. We also like that place we are going and it “fits us”.

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My mother followed me to my NY town, which was 3 hours from her. She brought her parents too, whom she had moved into her apartment the prior year. Their apartment was less than half mile away, easy walk. Before moving, she made me promise that we’d never turn down opportunities we liked elsewhere due to her - she did not want to be an “anchor”. A few years later, we took required work transfers to CO… and she moved again, along with my grandfather (she had him switch to CO nursing home). Mom was a “happy loner”. did not mind following us.

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I think I’ve ruled out upsizing again. DD (only child) asked me if I’d consider moving as she doesn’t want to live in Texas long term. I told her no and she was not happy as she does not want to settle down far from wherever I’m living and she doesn’t like Texas (for political reasons). That did not go over well. The more I thought about it, the more I realized that my immediate plan post-retirement is to travel for about 9 months per year. So currently I think I’ll just sell the house, invest the proceeds, and Air B n B near wherever she lives and buy again when I’m done with the extensive travel. Hopefully by them she is living somewhere in the suburbs in a warm state. I do not like apartment living.

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My Pilate instructor was timing the market 2-3 years ago, she sold her house and moved to an apartment, waiting for house prices to come down in California, you know what happened after 2020 to the real estate market. I’m not sure she can buy now, maybe in somewhere very remote.

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Itsgettingreal - to me this is a very intriguing and appealing plan! Hub and I have not traveled much (well, I haven’t - he’s been all over the world for business). So we haven’t (together) really sussed out different “Stage 2” options (near kids and/or other). I would love to sell our current suburban home, invest the proceeds, and travel (Air BnB, short term rentals) to see different places.

We’ll need our incomes to continue for a few years though, so that plan would require a switch (on my part) to remote work. That’s a challenge (but, not insurmountable, I think…)

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That sounds intriguing, but I’d have to sell my Texas house to do it and ds2 REALLY doesn’t want us to do it. Sell the house, that is, not the travel part.

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Youdon_tsay - my D (college soph) also wants to ‘keep a home base’ in the state in which we currently live. I think she can keep the connections w/her friends here w/out us necessarily keeping a residence. Plus any transition will take a while, so the more time passes from HS days, I think the less strong will be the pull to home state (possibly!)…

It’s not easy to arrange, but if you could find the right renters and local manager … maybe renting out the house during the travel phase could work. For those who live near a university, renting to a visiting prof could be an option (ha, lots more appealing than renting to a bunch of wild college students).

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Ds2 graduated in 2013 so it’s been awhile, but his hometown still is a pull. In fact, he and his current roommate are here visiting. And they went walking along the 10-mile trail and ran into someone he graduated HS with. This city still feels like a small town to him.

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Rentals are always a risk, as to how well/poorly they will are for the place. Our tenants have caused extensive damage and required us to repair and replace a lot over the years. Have spoken with others who have had similar experiences.

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Interesting, Colorado_mom - my son suggested the same thing when I mentioned our various options for (as yet undefined!) future plans - renting out our current house. I’m open to all possibilies at this stage, and investigating various avenues.

I will say, in follow-up to your point HImom - that my state is extremely tenant friendly. And with the recent limitations on evictions, etc. - I might be a little leery of entering the rental wold. That said - I’m open to exploring all options!

Youdon_tsay - that’s interesting…maybe my hope (!) that D will perhaps lessen her commitment to living in home state may not come to fruition. That being said - I feel like she could always grab a cheap flight and stay with a local friend in the future (we are near a large airport).

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I am already renting short term places and moving around, though limited in range by my elderly mother (when she dies that will change). I just want to warn folks that airnbnb’s can be hard to get in some areas. In fact some are full now until 2023. Airbnb’s can also be expensive, with cleaning and other fees, though there is sometimes a hefty discount for staying a month or more. I have been using craigslist sublet/temp listings instead.

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I would just caution people to make your living choice based on your wants and needs and do not create a situation where anyone - the parents or the offspring - feel an obligation to stay or leave a certain area. IMO, if your kids are still in college (or high school) don’t even start thinking about where they will land - because that is their ballgame to play. Move if you like, stay put if you like - but make it YOUR game to play - and no one else’s.

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Good point, compmom - I have found Air BnBs a bit more pricey since the pandemic. When we’ve visited D in college we’ve actually ended up in hotels as - overall - they are cheaper. Good to know there are other short-term rental options. You hear so much about Air BnBs - but there is more out there!

abasket - that’s true. A move-destination should be a place you 100% love and would stay even if everyone else left. That being said - I think I can bring the kids into the calculation - even if they left at some point. I don’t think those are mutually exclusive (at least, I hope not!).

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You sound like you have found your personal paradise. I love having a lot of space and room to roam. I don’t see me ever wanting a tiny condo, no yard, no place to escape for quiet me time.

We don’t have the acreage you do, but living in a city in a spacious home on one acre is about as close to paradise as we can acquire here. What you have sounds amazing. You are a lucky gal!

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Cultural differences again, but that’s not how we roll. I wouldn’t willingly settle hundreds or thousands of miles away from family nor vice versa. And when we are older, the younger generation takes care of the older one (no nursing homes/assisted living/etc) so it’s not a simple matter of do your own thing and don’t worry about where children or parents choose to live. Nor would we ever want it any other way.

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We feel really, really fortunate we found this place at a time in our lives when we could afford it. We hesitate to sell it even if we want to downsize until we’re sure none of the kids want it. There’s no way they’d find something similar at a price they could afford if they want to live around here. Once they’re truly settled, we might consider it. It is a lot to keep up as we age and with our farm hands having moved away, that doesn’t help.

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I started to post this in “up and coming” thread, but it really more of an affordability thought.

from our local FB page (where people are often lamenting about the ever increasing housing costs) - These Cities Will Pay You to Move There in 2023 | moveBuddha

Many of the deals are for new college grads. But some folks here might want to look at Newton, Iowa - new home buyers get $10k +3k, median home price $105k. My guess it does not meet the common retiree criteria of nice weather and access to good medical care and airport…. but home price is appealing.

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