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Old 03-11-2018, 12:02 PM
 
16,509 posts, read 17,561,528 times
Reputation: 23591

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Quote:
Originally Posted by goodlife36 View Post
I am interested in the type of properties single middle aged people without children buy.

Please list age.
Type of property:
Why did you choose this type of property?
What is more important? Space or Commute to Work?
Price. Did you stretch your budget to get in to your desired property?
Single story ranch style on 1/2 acre

Tired of 1700 sq ft two story townhouse with limited parking

Space

No.
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Old 03-11-2018, 02:20 PM
Status: "Summer, please don't leave!" (set 11 days ago)
 
Location: Asheville, NC
11,480 posts, read 25,719,413 times
Reputation: 4214
Quote:
Originally Posted by goodlife36 View Post
I am interested in the type of properties single middle aged people without children buy.

Please list age.
Type of property:
Why did you choose this type of property?
What is more important? Space or Commute to Work?
Price. Did you stretch your budget to get in to your desired property?
This is a fun thread

Age: 46, emptynester
Type of property: Small house
Location and close to things. I work from home.
I did stretch my budget on the land because of the location. I also did buy a double lot so I am planning on selling one. Then the lot will be in budget.

I am building a one story. The reason I chose to build again is because I can make the house the way I want and the size I want. It will be new, so no repairs needed. I am debating on size now but it will be around 1000 sq ft. The reason being is because I want to be mortgage free again. Also, it's the location I wanted. I'd like 3 bedrooms for resale but that is squeezing it. Could I live with 2 bedrooms, yes. More importantly is that I have 2 bathrooms, plenty of storage and counter space in kitchen. I don't use a dining room, so I could give that up as long as I have a small area/nook for a table and chairs in the kitchen. Right now, I am living in a home that is just over 1000 sq ft. It's more than enough space but not enough storage. The home I am building will have ample attic space.
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Old 03-11-2018, 02:49 PM
 
1,954 posts, read 659,423 times
Reputation: 2666
I bought my current house 13 years ago when I was 44 years old.

It was 4 years old when I bought it. 2 stories, 2,900 sq ft., 4 bedrooms, 2.5 baths, large 2 car garage, about 1 acre.

At $620,000, it was seemed like a stretch at the time, but really wasn't

I like having space around me, but I also don't want to spend a bunch of time commuting. I could have purchased much more house/land for the same money if I had been willing to add 35 minutes (each way) to my commute.

My income has more than doubled since then, so I'm thinking about up-sizing. Or maybe buying a second house at the beach.
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Old 03-11-2018, 02:57 PM
 
Location: Wartrace,TN
5,281 posts, read 8,233,928 times
Reputation: 10390
Please list age.
45 at the time I purchased.

Type of property:

Small ranch home on 15 acres.

Why did you choose this type of property?

Noise interferes with my happiness.

What is more important? Space or Commute to Work?
Most important was the privacy and seclusion. I would slit my wrists if I had to live in a city or suburban people farm. I work from home so the commute isn't an issue.

Price. Did you stretch your budget to get in to your desired property?

The property needed some work and I was able to pay cash for it. (it wasn't all that expensive)

I have been reading that AT&T is working on 5G internet over power lines and that several companies are entering the low earth orbit satellite business with very low latency. If these services become available nationwide I am thinking about moving to an even more secluded location. All I need to earn a living is low latency internet.
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Old 03-11-2018, 04:47 PM
Status: "I am in preparation mode!" (set 9 days ago)
 
5,515 posts, read 5,505,813 times
Reputation: 4211
Quote:
Originally Posted by AlaskaErik View Post
What you buy at this stage of your life really depends on how long you plan on living there. Do you plan on moving once you retire? Or are you looking for a house you can retire and age into? Bear in mind that your way of thinking may also change as you get older. We had a nice large two story home that we bought in our middle years. At one point I thought we would retire there. As we got closer to retirement age we decided to move out of state and go with a smaller ranch style house. Then we decided to move back home, but again, we went with a smaller ranch style house. Right now we snowbird, but we can age into either home.

If you plan on moving when you retire, buy whatever suits you now, with the idea that it fits in the neighborhood and can be easily sold when you're ready to move on. If you plan on staying into retirement, buy something you can age into.
This is going to be my forever home. I worry about being able to manage it when I get older. I actually think a small 2 bedroom ranch would be ideal. I saw one that I liked. It is quaint with a nice layout. I would rather live in a neighborhood as opposed to a planned development. If I do, I do not want to see houses that look the same all over the place. I do not want to pay a maintenance fee. I do not want to be an older woman negotiating steps.(Thinking out loud)
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Old 03-11-2018, 04:50 PM
Status: "I am in preparation mode!" (set 9 days ago)
 
5,515 posts, read 5,505,813 times
Reputation: 4211
Quote:
Originally Posted by hackwriter View Post
Age: 62
Type of property: Single family house, center hall colonial
Why chosen: Great neighborhood, completely updated, great flow for entertaining without being "open floor plan." I fell in love with it from the photos and put in an offer before I even flew down to look at it.
What is more important? Space, because I was telecommuting.
Did I stretch my budget? No. I moved from a higher cost area.

Previous home (purchased with husband who is now deceased):
Age: 40
Type of property: Single family house, Cape Cod
Why chosen: Good neighborhood, good price, bedrooms on both floors so husband could be on different floor from my mother when she came to visit.
What more important: Commute to work
Price: It was at the top end of our budget. It still needed a LOT of updates and they weren't all done until I was ready to sell 20 years later.
Wow! If upgrades are not done when you purchase the property, it is not likely it will ever get done. Thanks for sharing the various stages of your life. It makes me feel some what hopeful.
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Old 03-11-2018, 04:56 PM
Status: "I am in preparation mode!" (set 9 days ago)
 
5,515 posts, read 5,505,813 times
Reputation: 4211
Again, I cannot get over how large your homes are. Wow!
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Old 03-11-2018, 05:03 PM
 
Location: Long Island
749 posts, read 672,827 times
Reputation: 501
Interesting topic here. I am not single but am middle aged. I can think of all the times (including now) that I think about moving and what would make sense. I do know my needs changed dramatically at different stages of life and they still are changing now.
Going back to my single days, my needs were simple. I never rented in my life, so buying something was the only way for me.
My first mortgage was for a very low cost (market was such too) co-op studio, about 500 sq. feet and L shaped that allowed me to build a 3/4 high wall with he upper part made of glass block. This allowed privacy, yet air flow into what I built into a sleeping alcove. It fit a twin bed and had a closet. It worked great when I was single but become noticeably small when I met my now wife who had two young kids. I liked minimal maintenance, close proximity to mass transit and very low cost which allowed going out a lot.
Once I settled in with my new family, we needed a house on a budget. We shopped for 3 beds and 2 baths and found a home with a finished basement apartment that I ended up renting to a family member. This helped with our new higher cost house. Once the kids got older, we realized the importance a good school district and spent the next two years searching where we are today, now approaching 13 years. We chose a 4 bedroom, 2 1/2 bath 2500 sq. foot home in a great neighborhood with A rated schools, safe and fairly quiet. It was large enough to house my in laws who needed a place to stay until they could find a place. It was a stretch, but we did a lot of updating ourselves, little by little and watched our pennies carefully. When my son was born, my in laws moved out and we spread out. Thankfully we were doing better at work and could afford this. Eventually one of the step kids moved out and now we are really thinking of moving again, downsizing a bit and take it a slower.
So once again, needs dictate still great schools, quiet, safe neighborhood, but I need lower cost of living. Wife wants the dream kitchen we never put into our current house. She hates clutter, so a larger garage and a spare room would be nice. She also prefers a ranch as we get older. My dream is to be by the water. Hers is to be where there is warmer weather and less stress. We have invested into central eastern Florida (5 to 6 years ago post crash) when my mom passed away and are thinking of taking over one of my rental properties. There will always be a compromise but I really think the days of finding "the" home are over. Life changes as you go on and with it, your living needs. So I think we will always be thinking, what next.
Go with what will make you happy now, but don't focus entirely on the future. Change can happen fast. Pick what will hopefully go up in value and be desirable if you need to sell. Sometimes that means something a bit larger than planned for (3 bedrooms vs. 2 will always be more desirable when selling). When investing down south, I chose different homes, one on a canal, one with a pool, one a condo on the ocean and another that was real cheap and cheap to maintain. I was fortunate to have this flexibility, but I choose what I did to hedge my bets and hopefully have something ready for us, regardless of economic situations, that we can make our home. It's still a tough choice and now 5 or 6 years after investing, we may decide none of those properties meet our current needs exactly. But we have choices. Enjoy life and be happy. It goes by too fast.
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Old 03-11-2018, 08:14 PM
 
10,608 posts, read 13,394,416 times
Reputation: 17163
Quote:
Originally Posted by goodlife36 View Post
Interesting. None of you purchased condos. Lol!

For some reason, I like condos but I believe a small single family home would be best long term. I am adverse to noise. I wish I could find a place with few children.

Purchasing a property is such an intimate affair. Layout is more important than actual size. Commute is very important. However, it is not likely I am going to stay at the same job forever.
People probably didn't want to set off another marathon super-thread of HOA bashing. But someone already mentioned it.

PLENTY Of middle aged AND SINGLE people buy condos and townhouses. But you already ruled them out so not sure what the right answer would be.

How about buy a duplex and rent half out to some ideal single tenant then you can evict annoying people if necessary. But remember the IRS sees that as a business.
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Old 03-12-2018, 05:29 AM
 
3,107 posts, read 2,735,000 times
Reputation: 4411
Quote:
Originally Posted by goodlife36 View Post
I am interested in the type of properties single middle aged people without children buy.

Please list age.
Type of property:
Why did you choose this type of property?
What is more important? Space or Commute to Work?
Price. Did you stretch your budget to get in to your desired property?
Mid-50s when I bought and a first time home buyer at that.

Townhome - 3 story - 3,100 sf

Location location location

Most important was having some place that had dedicated space for my five bicycles inside the house. But that was actually secondary to location. If I couldn’t find something within the urban core that I could afford, I would have remained renting. I was very specific about the exact area I wanted to buy in.

No, or I would be living in one of the swank downtown high-rises. I bought within the urban core in a gentrifying area at $82 sf and my townhouse is now around $200 sf. Well, what I did under estimate was the cost of everything else, like going from a 700 sf apt to a house and the furniture needed, the cost of a refrigerator, repainting the entire house, changing out every single light fixture, etc.
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