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Home Downsizing Etc.

seaurchin

Brilliant_Rock
Joined
Nov 2, 2012
Messages
1,334
Are any other older PSers downsizing? Or upsizing? Or just moving somewhere new? (Most of the retirees we know actually seem to be moving into larger homes or buying second, vacation homes). We sold our house of many years and are thinking about just renting an apartment, at least for a while. We don't feel like bothering with a big house and yard anymore.

What are your retirement housing plans or actions?
 
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Daisys and Diamonds

Ideal_Rock
Joined
Apr 30, 2019
Messages
6,117
My other half retired not quite 3 years ago to coincide to moving towns as with some money my mum left me we could finally afford a morgage
Which we couldn't do if we stayed in Wellington
We were fortunate to be going from one bedroom to four so we had a big empty house for a while after living in 45m2 for almost 20 years
moving was really hard, it was the hight of summer and we didn't have anyone to help us plus i had had a really awful horrible experience using movers years ago so we shifted ourselves
We have often thought about as hard as it was - we didn't know Gary was actually sick at the time - but it would have been so much harder if we had had to downsize

Renting is a big waste of money - you are paying off sone greedy landlord's morgage , surly it would be better to just buy something till you deside what to do
Interest rates are so low at the bank, wouldn't it be better to buy another house, with the intention of flicking it off in a couple of years to buy your dream forever home
 

Asscherhalo_lover

Ideal_Rock
Trade
Joined
Aug 16, 2007
Messages
4,879
I know my Mother plans on downsizing in another 5-10 years (so she'll be in her 60's). She has a three bedroom 2.5 bath house with an apartment. She wants to go down to a townhouse style 2 bed 1.5 bath if possible. Her current house has an inground pool that she does ALL of the maintainence on. She's ready to not have that anymore and just have a small garden.
 

chrono

Super_Ideal_Rock
Premium
Joined
Apr 22, 2004
Messages
37,517
When I retire, I’ll look for a place that’s a single level with no stairs, short driveway and small but level yard.
 

kayla17

Ideal_Rock
Premium
Joined
Jan 14, 2003
Messages
2,213
We just downsized but I feel our new house is still pretty big. We went from over one acre of land to one third and this new house is smaller in square footage.
My husband retired a few years ago from the police dept and works part time occasional and I work part time as well. We wanted something with a more manageable yard and lower property taxes bc our taxes were very high in NJ. The backyard in our old house was also a lot to maintain and cost us a lot because it was all useable land. Our water bill in the summer was running us over $500 a month and we paid $80 a cut for our grass (X4 times a month) plus we paid for fertilizer, winter and spring clean up and mulch, etc.
Our new house is smaller but still big and we have four kids so we still need our space. My youngest is 9 years old.
Overall I am happy that we moved. I miss my old house of course but this was a smarter move for us.
The house is big enough for all of us now yet small enough for just the two of us when the kids eventually move out.
 

TooPatient

Ideal_Rock
Premium
Joined
Sep 1, 2009
Messages
9,294
Upsizing! Three cats and three dogs plus two people both needing to work from home.... Current house is 1700 sqft in an awkward layout that makes everything very cramped. Looking at houses ranging from 2800-5800 sqft on an acre or more. One house is on 40 acres.

I'm scrambling to get our current house packed up except for necessities so movers can get much of the things into storage. The handyman will be ready for us in 2-3 weeks so I'm also getting the supplies needed to prep the house for sale. Trying to get mortgage approval with the cash out we hope to get in place so we can list this one for sale and put an offer in on a house as soon as possible after the house is prepped. Houses in our area tend to sell in a matter of a day or so. Hoping we can get this one to close just before the purchase of another then have a short time to move the last of the stuff out from here to the new house. It is an awful lot, but will be so much nicer once it is done!

We need the exterior painted. Really hoping for good weather so that can happen!
 

dk168

Ideal_Rock
Premium
Joined
Jul 7, 2013
Messages
6,945
I found relocation was the most stressful life event for me, and have no intention of doing it again.

My house is only a 2-bedroom semi which is just right for me and the pets.

I recently refurbished the garden and it is now even more low maintenance then it was before.

Therefore it is likely to be my last house, as I really cannot bear the thought of moving again!

DK :))
 

Bron357

Ideal_Rock
Premium
Joined
Jan 22, 2014
Messages
4,575
When DH retires we are going to buy a house in a Sapphire fossicking area (up around Inverell NSW) and buy a townhouse or 3 bed apartment in the City area. That way DD still has a Sydney base and so do we. DD expects to do her first PhD here and her second overseas.
 

Snowdrop13

Ideal_Rock
Premium
Joined
Aug 27, 2011
Messages
2,071
Lockdown has made me realise we need space! I think we’ll stay in our family sized home (4 bed, big garage and garden) for the foreseeable. Just in case the kids need somewhere to stay...... (we‘re not retired yet, just thinking about it).

I do, however, plan to have a thorough clear out over the next couple of years, so that if we do move, we can travel light!
 

Austina

Ideal_Rock
Premium
Joined
Feb 24, 2017
Messages
4,639
We downsized 9 years ago, to what we thought would be our last home. However, life has a habit of throwing you a curveball, and we hope to be moving again next year. It won’t just be a new house, it’ll be a new country and a new life. It’ll be huge, but it’ll mean we’ll be near our son and future DIL.

We’ll be looking for a house of about 3000 sq ft, because we hope we’ll be having lots of friends visiting, and I’m just not ready for a small place. Ideally we’d like a bungalow, but if not, the property in the area we’re moving to always has at least one bedroom downstairs possibly two. We definitely wouldn’t move to an apartment, possible problems with noisy neighbours above, below or either side, and even more stairs in a townhouse.
 

missy

Super_Ideal_Rock
Premium
Joined
Jun 8, 2008
Messages
40,426
Our retirement plans aren't set in stone but originally we had planned on selling our NYC home and retiring at our Jersey shore home. That had been the plan for about 20 years. (Leave it to us to live in 2 of the most expensive places in the USA).

Now though we aren't sure. We changed our original plans just a few years ago. We decided when we are around 80 years old (we are optimistic what can I say lol) we would sell the beach house and retire to our NYC co-op since we would be older and maybe not as able tot take care of a house by ourselves. Our NYC home has a full staff building and just easier for older people to live there IMO. Walkable to everything and don't need to drive as much. Or care for home issues as the full service staff would take care of much of that.

Today though I vacillate between both options. I enjoy both homes. Both homes suit us very well. Both homes have sufficient space. We got lucky. Both have different things to offer.

My DH would live happily at our beach house full time. No question. I, however, am a city girl and while I love it out here while we can cycle and enjoy being outside I miss NYC in the inclement weather. When we cannot cycle or walk on the beach due to bad weather I miss NYC. When we can easily do things there vs here. Just walking in our neighborhood there is so much to do. So many amazing stores and activities always. The museums, and the plays and musicals on and off Broadway, the Philharmonic, the Ballet, etc. Always things to do no matter the weather. With the exception of a pandemic that is.

If I knew we could grow old and remain healthy and able I would choose the beach house. We can easily access NYC from here. It's a 30/40 minute ferry ride from here to there. Also less than an hour drive if we choose to drive there from here. But knowing things change as one gets older I am concerned about being here if we are not as able bodied as we are now.

Of course one cannot predict the future but therein lies the dilemma. As we get older which home would suit us best? And barring the pandemic I am leaning towards the NYC home. But we will have been out here at the beach house for almost 9 months each year the past 2 years and I do love it here. I don't miss NYC right now. As long as we are active and able to enjoy what we love out here. If that changes I would prefer being in NYC.
 

Big Fat Facets

Brilliant_Rock
Joined
Jun 7, 2019
Messages
1,218
@seaurchin

if funds and circumstances allow, i sense, it will likely serve you best, to consider purchasing rather than renting, unless renting is well, as in extremely well, below the market rate in the area, in which, you are considering.

the unexpected developments of 2020 such as lockdown and shelter in place has changed many perspectives. those that have considered downsizing are now grateful for the space as working from home is the new normal and will continue to be into the forseeable future.

as for my husband and i, we live in a 1 level single family home in los angeles. the climate suits us. we have enough living space and garden space for the both of us and our 2 cats. (im hoping for a dog in the near future.)

we are still decades off before retirement. but my husband is a planner and from time to time he will bring it up to keep me informed. i understand, we will remain in our home into old age.

Although, over the years, ive heard of my husband's older retiring colleagues selling their califonria homes and moving to oregon, new mexico, utah, washington...etc... and purchasing homes in those states, where cost of living is better
 

Elizabeth35

Brilliant_Rock
Joined
Sep 24, 2011
Messages
547
We are in our early 60’s and our overly large home is up for sale. We have a little over an acre, pool, and way too much space for 2 people.

We had originally thought we would buy a nice townhouse in a different suburb. With the pandemic and all other things in the US, we now think we will move to either a different state, or possibly out of the US. One possibility is a smaller townhouse as a home-base in the US, and travel 6-8 months out of the year. We want to remain active and traveling as long as it is feasible.

Short-term, we will stay in the Chicago area when our house sells, either renting or buying a fixer upper and living there for a year while we renovate and mull our options.

It's hard to balance all the different plates----where are your friends, family, good healthcare, etc.
 

nala

Ideal_Rock
Premium
Joined
Oct 23, 2011
Messages
4,696
So my in-laws are 75 and 77 and they live in a sprawling 3200 sq ft home. That’s sprawling bc it’s in a very desirable city in So Cal. They have no intention of downsizing. They are adding an elevator and are constantly upgrading their homes. They have a vacation home in Palm Springs and it just went through a renovation. They are in the market for a beach house. I was telling hubby that it’s shocking that at their age, they don’t have any plans to stop. They travel non stop—African safaris, month long European cruises, time share in Hawaii—I guess all this to say that they are inspirational to me. Lol. I hope that I don’t feel the need to slow down when I hit my 70’s!
 
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Elizabeth35

Brilliant_Rock
Joined
Sep 24, 2011
Messages
547
This is somewhat similar to our situation. There really are so many factors to consider. A decent apartment in our current area will probably be our choice for the short term. They only cost about the same as we paid for the property tax and insurance alone on our house. For the longer term, well, at least it's nice to be fortunate enough that we can choose what we want to do. :)
Yes--we are fortunate enough to be healthy and have choices. Many people don't have that. But being able to basically live anywhere is somewhat daunting.
 
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