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Old 02-21-2009, 04:24 AM
 
3 posts, read 7,213 times
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We are both 60. We just sold our house and would like to take the equity of $300,000 to buy another house (total costs so no mortgage) as we enter early retirement. Our family is scattered across the country so we're not tied to any particular area. We've read that the BEST HOUSING DEALS are in Florida, Arizona, Nevada right now. Basically we want a 3000 sq foot house on a large lot or small amount of acreage in a town or small city that boasts a good public library system, a college would be nice and at least an average growing season.

Any suggestions?
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Old 02-21-2009, 05:07 AM
 
Location: Cedar City, Utah
4,322 posts, read 8,262,347 times
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Default check out St. George, Utah

We are going to St. George, Utah about 40 mnutes from Mesquite, Nevada , about 2 hours from Las Vegas and close to AZ border also. Mild winters, hot in the summer but dry heat and no humidity. Beautiful place, lots to do, Biking/hiking trails, Zions Nathional Park close by, very inexpensive housing now....didn't used to be. If you like the red rock scenery and that desert terraine. Check it out.
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Old 02-21-2009, 06:54 AM
 
Location: Bella Vista, Ark
71,957 posts, read 83,612,165 times
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Quote:
Originally Posted by HikerJohn View Post
We are both 60. We just sold our house and would like to take the equity of $300,000 to buy another house (total costs so no mortgage) as we enter early retirement. Our family is scattered across the country so we're not tied to any particular area. We've read that the BEST HOUSING DEALS are in Florida, Arizona, Nevada right now. Basically we want a 3000 sq foot house on a large lot or small amount of acreage in a town or small city that boasts a good public library system, a college would be nice and at least an average growing season.

Any suggestions?
well, you won't get that in Florida even with the depressed market or I doubt you will, it will depend on what part of Florida you are thinking about. NV, maybe, again, depending, but so little of NV is developed, Reno is a bit pricey and Vegas certainly won't give you what you are looking for I don't think.. Phoenix is nice if you can take the heat.

Lots of areas in NM might work, we moved from Valencia County to NWA last year. There are lots of possitives about NM but lots of negatives as well. Of course this can be anywhere. Where do you live now?

Nita
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Old 02-21-2009, 07:19 AM
 
Location: Texas
3,494 posts, read 12,968,190 times
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Georgetown or Kerrville
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Old 02-21-2009, 07:52 AM
 
2,498 posts, read 6,391,553 times
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Why spend it,why not save some,it is tax free if you have lived in home for 2 out five years.I sold recently and put $145,000 in 3 percent 6 month CD.Bigger not necessarily better!
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Old 02-21-2009, 08:00 AM
 
Location: SW Missouri
15,847 posts, read 30,357,215 times
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Originally Posted by DanBev View Post
Why spend it,why not save some,it is tax free if you have lived in home for 2 out five years.I sold recently and put $145,000 in 3 percent 6 month CD.Bigger not necessarily better!
I was thinking the same thing DanBev. I'd sock the rest of it away. I'd also start thinking about self-sufficiency in case the SHTF if you know what I mean. Keeping a 3000 square foot house clean would be a major pain in the arse! It would take two hours just to vacuum! I would think there is a better way to spend that time! LOL

Think small, efficient, sustainable, easily defended. You never know how bad things might get!

20yrsinBranson
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Old 02-21-2009, 08:16 AM
 
Location: Santa Fe, New Mexico
3,012 posts, read 8,991,096 times
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Retirement is such a big deal -- and in my opinion should be a final move -- so to me the important thing is WHERE do you want to live, and why?

All those states are very different (in my opinion) and I guess I would start by deciding on which one I would want to live out the rest of my life.

For me it was a non-decision, as I already knew the one place I wanted to live. Maybe other people are different and the location doesn't matter so much.

Here in Santa Fe, prices have come down and you probably can find a $300,000 house that you like, but you might have to make some concessions - such as size. I'm not sure you can find a 3000 square foot house for that price that is in decent condition.
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Old 02-21-2009, 08:29 AM
 
Location: San Juan County, New Mexico
261 posts, read 837,085 times
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AZ, FL, and NV clearly have the most distressed residential markets right now. Phoenix seems to have the most bargains, but the tradeoff for a dirt-cheap price on a brand new home is living in an oven several months of the year. New Mexico did not experience the hyperinflation of home prices to the same extent that those other markets did, nor did we see the degree of over-building that they did, so our prices are not as depressed as theirs are. Yet. For example, Farmington prices have not dropped more than 5% or so in the last couple of years, and are still relatively high for what you get. Can't speak for Albuquerque or Las Cruces, although LC seems to have a lot of $500k houses looking for new owners.
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Old 02-21-2009, 08:36 AM
 
Location: center of N.M.
775 posts, read 2,355,528 times
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Default My Advice Again

Rent or Rent to Own in the center of New Mexico and explore the whole State till you find the place you want. With Todays internet you dont really need Libraries unless you are doing some deep research. But libraries are everywhere. P.S. With 300 k you can buy a home with quite a few acres in New Mexico and still be close to Santa Fe and Albuquerque. el pintada kid
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Old 02-21-2009, 08:44 AM
 
3,422 posts, read 9,697,450 times
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I remember reading last year that Las Cruces was ranked as one of the good places to retire.

It has a college (NMSU), not sure about the library system, and I don't know about housing prices.

It is in the warm part of NM.
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