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Old 01-17-2012, 09:12 PM
 
Location: it depends
6,074 posts, read 5,342,036 times
Reputation: 5771

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This is a wonderful thread, with many valuable contributions. Thanks to all.

Like the OP, we're a few years from retirement--but I have some flexibility in where I work, for weeks at a time. Home base and the center of business is up north, adult kids all up there (for now). Three years ago we bought a gulf coast condo in Florida. We spend 18-24 weeks in Florida, the rest up north. I have to do a little flying back and forth to spend a week every month up north; wife stays in Florida.

1. The condo thing versus single-family-home is a really huge deal, as others have noted. The sweetest sound in all of nature is somebody else mowing your grass and whipping your weeds. The next thing we do will be to go townhouse or condo up north and get rid of some headaches up there.

2. We can't get away from the two residences thing: business and family requires us to keep one foot planted up north; our personal preference is to spend a lot of time down in the sun.

3. The all-in costs of our modest but delightful condo are about $12,000 per year. We never went nuts buying an expensive home up north (we could have) but it made more sense to have the same money split into two places.

4. If/when we ever get to the point that going back and forth is too much from a health standpoint or mental health standpoint or whatever, we will probably stay in Florida and visit the old home territory.

5. On "buy or rent" in the second-home place: I think the economics favor renting, but personal preferences enter into it. We felt like if we bought, we would spend more time each year in paradise. We like having picked out the furnishings and equipment. We like knowing the neighborhood. We like knowing the place is ready for us any time we can shake loose for a few weeks. It is however a consumption expense, not an investment. (If it turns out we are wrong, it will be a nice surprise.) We could rent a lot of nice places for many many weeks on the $12,000 it takes to carry the condo--but we like our other home.

6. This is working very, very well for us, a total gas. It may work well for an indefinite period. We think two homes will be financially sustainable in retirement, especially if we downsize up north--but if it isn't, we'll scale it back to a one home lifestyle. The experience we are gaining makes us wiser for those future decisions.
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Old 01-19-2012, 01:33 AM
 
391 posts, read 664,902 times
Reputation: 453
We have a home in Canada, the other in AZ. Both are under 3 years old.

We are just in the process of retiring (at 56). I will likely be fully retired and my wife will be semi.

Right now, we love having two places. It is so nice to just walk in and be at home. But that comes at a big expense. Thats the scariest part.
However, I look at things as "not forever".

If we find this doesn't work, we'll bail on the AZ home. Just hope we don't lose our shirts.

Meanwhile, we are enjoying the lifestyle. If this works for 5 years, then thats great. We can change paths again but at least we will have had 5 years we enjoyed.
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Old 01-19-2012, 03:37 PM
 
1,835 posts, read 2,603,024 times
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Quote:
Originally Posted by mjd2k View Post
We have a home in Canada, the other in AZ. Both are under 3 years old.

We are just in the process of retiring (at 56). I will likely be fully retired and my wife will be semi.

Right now, we love having two places. It is so nice to just walk in and be at home. But that comes at a big expense. Thats the scariest part.
However, I look at things as "not forever".

If we find this doesn't work, we'll bail on the AZ home. Just hope we don't lose our shirts.

Meanwhile, we are enjoying the lifestyle. If this works for 5 years, then thats great. We can change paths again but at least we will have had 5 years we enjoyed.
I'm also enjoying this thread. We are also about 2-5 years away from retirement and thinking about what to do. We currently have two homes but only 85 miles apart, with our second one our get away to the lake on weekends. Love it now, are thinking of eventually selling here and perhaps living there for the number of years to get the break on taxes for it being our primary home, but, it's in the middle of no where! I don't want to be that isolated permanently, want shopping, medical nearer. So, we're trying to figure where to end up as a permanent home. Sort of fun looking, thinking, talking about it as it definitely gives us a chance to figure out what we want.
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Old 01-19-2012, 06:29 PM
 
Location: Toronto, Ottawa Valley & Dunedin FL
1,409 posts, read 2,357,727 times
Reputation: 1159
Quote:
Originally Posted by Robyn55 View Post
Just FWIW - apart from the Bed Bath & Beyond coupons - you can find deals on the internet. Amazon often has buy 3 - get 1 free on select kitchenwares. Robyn
Thanks, I just got on their mailing list yesterday!
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Old 01-19-2012, 06:59 PM
 
28 posts, read 27,788 times
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Moved out of NC last Sept 2011, currently we are living in a small apartment in Ohio and plan to stay here until full age retirement (around 2016) then move back to the South.

We thinking to buy a house in Myrtle Beach, SC. It will be the last house of our life (we already moved 5 times).

I knew it is temporary, however, we never live in a small place like this in our life. Moving from 3500 sq ft house down to 1000 sq ft apt is a big change.

So we are torn between buying now or later. I want to have a place call home NOW, I want to have a place so I can unpack all my boxes, hang all my tools even from now until 2016 I just be there few weeks per year.

In other side, I am worry about too many unknown bad things could happen to a vacant house. Four year is a long time.

If I win a lottery I will moving out of this cold Ohio in a heart beat
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Old 01-20-2012, 04:49 AM
 
2,179 posts, read 6,620,287 times
Reputation: 1681
Quote:
Originally Posted by summer1942 View Post
Moved out of NC last Sept 2011, currently we are living in a small apartment in Ohio and plan to stay here until full age retirement (around 2016) then move back to the South.

We thinking to buy a house in Myrtle Beach, SC. It will be the last house of our life (we already moved 5 times).

I knew it is temporary, however, we never live in a small place like this in our life. Moving from 3500 sq ft house down to 1000 sq ft apt is a big change.

So we are torn between buying now or later. I want to have a place call home NOW, I want to have a place so I can unpack all my boxes, hang all my tools even from now until 2016 I just be there few weeks per year.

In other side, I am worry about too many unknown bad things could happen to a vacant house. Four year is a long time.

If I win a lottery I will moving out of this cold Ohio in a heart beat
think about Myrtle beach, their winters are better than Ohio, but they aren't as comfy as Fla.
FL. pretty much caters to retirees & there is so many things to do,I moved up to Daytona beach because of the events I like nascar, bike week, big auto sows, 2 hrs from the casino
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Old 07-15-2018, 08:56 AM
 
Location: TEXAS
1 posts, read 282 times
Reputation: 13
Thanks to everyone who's information and experience is so timely for us! I've read all your comments about two homes in retirement and they are so helpful. We are just about there - both of us retiring this year. We own our primary residence in North TX where our kids and grandkids live and 2 places in FL where both of our extended families and our siblings live; a family place in N. FL; a modest retirement community place on Tampa Bay. We are about to make the transition from our home to spend our first few months in Tampa as retired folks. All your comments are so helpful and we're excited to put your advice to good use. I'll comment as we go along if its helpful and we'll learn together!
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Old 07-15-2018, 09:11 AM
 
71,857 posts, read 71,942,576 times
Reputation: 49413
Quote:
Originally Posted by Wwanderer View Post
Thanks, I just got on their mailing list yesterday!
ust so you know robyn passed away earlier in the year
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Old 07-15-2018, 10:16 AM
 
177 posts, read 65,910 times
Reputation: 235
We have currently 3 homes, main home (condo) in IL along with another home where our girls are living having grown up there. We just this spring bought a mobile home in a retirement community north of Clearwater...kind of spur of the moment because we fell in love with the area. We are selling our main home next spring and the other house in IL the following year in 2020. We are trying to downsize and live full time in FL. It will be hard for the next couple of years but that is our goal.
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Old 07-15-2018, 01:44 PM
 
Location: New Mexico
6,626 posts, read 3,693,281 times
Reputation: 12453
I have one permanent residence but have a timeshare that Iíve owned since the 1980s that I trade off for different locations each year. I donít advocate that for others but it has worked OK for my family over the years. Itís not cheap when thereís only one person using it. If I was going to do something different I would probably rent a place for a few weeks each year in a place I like but not buy a place. I know people who owned vacation homes and they were often overburdened with costs and maintenance and security. Sometimes they were saddled with an aging parentís vacation home that they couldnít get rid of.
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