to move or not to move - what do you think of this plan (state, friends)

[jlvs2run]

I live on the west coast in a town of 130,000 people, and have been looking for a place to move for retirement. What I would like is to live in either a small town of less than 5,000 people, on the outskirts of such a town or else in the country. I would like to live in an area with less population density. So I am looking for input on this thread.

I took a trip around the west 2 years ago but nothing else since. Owning a home here makes it more difficult to take a lot of time to travel around the country and look at different places to move, so I am taking a new view at my options.

My original plan was to (1) find a location to purchase, (2) sell this house, (3) purchase the new property at the same time this one is sold. From my experience in real estate, I have felt this the best way of protecting the equity from my home but now I'm feeling differently.

As the market has been in a downward decline, in retrospect it would have been better to sell the house 2 years ago, move and look around in the meantime. This makes me wonder, why not just do this now and change my plan to: (1) sell the house, (2) invest the proceeds, (3) travel to places I might want to live, (4) live in each one for awhile and rent while looking around (5) purchase a property when I find one I like. The disadvantage of this is would be if AHBL and I'm stuck somewhere with no money or access to funds, though in that case I might not be much better off here except for having the property. However if they shut off the city water I'm screwed.

Selling first would give me the most options and most flexibility, though perhaps the least "security". Maybe the security is keeping me here though, in a rut.

If you lived here, what would you do? Would you stay? Would you look for another property first? Or would you sell first and move elsewhere, then buy later when you find something you like? Where would you look?

[norm]

Our plan is to visit the places on our list and rank them. The when my wife retires we will sell our house and then we will go to those places still on the list and rent so we can get the sense of what it will be like to live there. After doing this we will make our selection and buy a home there.

[Waterlily]

Yes I've considered some of your options too. Since we haven't found a place I have considered selling and traveling around some. I guess that means we'd need a place to rent or something. We've got quite a bit of furniture.

However if you can take some time to travel first,and look around that would be good. That may not be an option for us. You could take a week and go to one state to look around then take another week to go in another direction. it's difficult to decide where you may want to retire.

[yellowsnow]

The RE market is so bad right now the only way to KNOW how much money you will get is to sell first. And you get to try out different areas before you buy. Sounds like a good deal!

[Padgett2]

I would stay. Because 1, our house is paid for. 2. It's just the right size, and the yard work is easy. 3. All our friends and family are here. 4. I know every nook and cranny of my town. 5, and most of all, it's close to my husband's favorite golf course.

But if I were not so satisfied, I wouldn't hesitate to move. I would take a year so that I could visit my choices in both winter and summer. I would choose a house that would cost LESS than I could make on my present home and invest the rest. NEVER would I go into debt for another house.