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Old 07-22-2014, 07:26 AM
 
Location: Simmering in DFW
6,948 posts, read 19,452,381 times
Reputation: 7208

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In the Spring of 2015 we plan on becoming global gypsies. Just going places and living 3-12 months at various destinations. Right now we are working thru logistics of leaving. Wondering if, and how, to keep a bit of ourselves here.

So, home is the DFW area. A lot of people move here to retire. But my husband finds the lack of mountains or ocean undesirable and the weather is pretty unpleasant (some harsh winter days and blistering hot summer & fall) so that our favorite hobbies of hiking and running are limited. DFW is familiar (lived here since 1978) and my adult son lives here. I have rental property here. My husband can't wait to get started on our Great Adventure and "get out of Dodge."

A few asides: Don't have a wonderful relationship with my son so rarely spend time with him or his family; I have several options for managing my rental properties when we leave; we are selling our personal home regardless of what we do. We have sufficient savings to make any of the plans we have on the drawing board. We are not at all attached to any of our material possessions, we are very minimalist people.

Plan One: Sell house. Move stuff into one of our rentals, take off. Issue: I don't like any of our rentals well enough to ever look forward to coming back to DFW to hang out. Result: cheap places, can get homestead tax relief, place to keep some things and can move before we sell house, loss of rent income on that place

Plan Two: Sell house, get rid of everything. Take off. Result: no place for us back in DFW, loss of all our nice stuff or storage fees. No local address for health insurance purposes...

Plan Three: Buy a local condo in DFW that we really like, move stuff in and stage house, sell house, take off and leave place as our "back home". Result: cost of new place will dip into budget but we can manage that, all benefits of plan one. Obligation of having a "home" in DFW where husband really doesn't want to settle after our great adventure

Your thoughts?
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Old 07-22-2014, 07:30 AM
 
Location: Great State of Texas
86,093 posts, read 72,469,891 times
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I'd go with the condo and sell everything else. If you are going to be traveling most of the time then no need to be thinking about those rentals and upkeep/maintenance and a condo has everything taken care of.

But that's just me. If I were going to travel most of the time then I wouldn't want any obligations hanging over my head.
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Old 07-22-2014, 07:41 AM
 
Location: State of Being
35,885 posts, read 67,141,087 times
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I am thinking the condo, as well, for the same reasons HappyTexan mentioned.

Also, property IS an investment and there are privileges that come with the homesteading laws. If you get back and don't want to stay in DFW at some point, you can sell the property and if you have bought wisely, you should make money rather than losing it.

In addition, there are other things to consider. Health issues. It appears you don't have any at this point, but you could. None of us had health issues -- until we suddenly had them, lol. Having that condo gives you a spot to land and a good healthcare system nearby in case you do have issues.
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Old 07-22-2014, 09:36 AM
 
Location: Sierra Nevada Land, CA
8,388 posts, read 9,134,430 times
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Condo plan sounds good.

Just a thought: when my mother retired she figured on touring everywhere. That lasted for three months. Got burned out on the constant traveling. Same thing happened to a coworker. She lasted six months. I've known others to get burnout with the constant traveling. It is not for everyone.
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Old 07-22-2014, 09:42 AM
 
Location: Fayetteville, NC
437 posts, read 616,243 times
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Can you afford to hold off on selling while you give the global nomad thing a try? Then, if you like it you can come back and sell your house, but if you don't like it, you haven't sold off your nest. I would assume that after a year you would pretty much know if this lifestyle is for you or not. Having a condo as a backup is a good alternative if you want to go ahead and sell your house; how easy is it to sell condos in the Dallas market if you decide that the nomad life is for you?
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Old 07-22-2014, 10:15 AM
 
Location: Simmering in DFW
6,948 posts, read 19,452,381 times
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Quote:
Originally Posted by MPRetired View Post
Can you afford to hold off on selling while you give the global nomad thing a try? Then, if you like it you can come back and sell your house, but if you don't like it, you haven't sold off your nest. I would assume that after a year you would pretty much know if this lifestyle is for you or not. Having a condo as a backup is a good alternative if you want to go ahead and sell your house; how easy is it to sell condos in the Dallas market if you decide that the nomad life is for you?
Condos in the downtown area of both Dallas and Fort Worth sell ok -- especially in Fort Worth.

There are several reasons I would like to sell this house. I have lived here 10 years; it was my husband's home when we married. He bought it as a bachelor in 1996. It has never really felt like "mine" as much as I have rehabbed the house. When I moved in, it was with the intention of updating and selling. Then life and the real estate economy got in the way. I have very little love for this house other than its certainly very comfortable due to its size. And it has a great view sitting high above the golf course.

Our present house is 4300 square feet and requires landscaping to the tune of $300/mo. In addition we pay about $600/mo HOA fees here for live security and community private police force. Taxes, with our over 65 exemption are $10,000 annual. And, we only really live in 4 rooms. So, keeping this house isn't practical for us. We would like to use public rail and be in a neighborhood we could walk to some coffee shops or even to an occasional restaurant. Our present neighborhood lacks these amenities we desire.

Last edited by Squirl; 07-22-2014 at 10:20 AM.. Reason: add info
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Old 07-22-2014, 10:27 AM
 
Location: Simmering in DFW
6,948 posts, read 19,452,381 times
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We love the Rockridge area of Oakland, CA. If we could find anywhere similar in another State except CA with moderate weather, we'd buy something there as an anchor!
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Old 07-22-2014, 10:41 AM
 
Location: UpstateNY
8,612 posts, read 8,294,298 times
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Quote:
Originally Posted by anifani821 View Post
I am thinking the condo, as well, for the same reasons HappyTexan mentioned.

Also, property IS an investment and there are privileges that come with the homesteading laws. If you get back and don't want to stay in DFW at some point, you can sell the property and if you have bought wisely, you should make money rather than losing it.

In addition, there are other things to consider. Health issues. It appears you don't have any at this point, but you could. None of us had health issues -- until we suddenly had them, lol. Having that condo gives you a spot to land and a good healthcare system nearby in case you do have issues.
Quote:
Originally Posted by Mr5150 View Post
Condo plan sounds good.

Just a thought: when my mother retired she figured on touring everywhere. That lasted for three months. Got burned out on the constant traveling. Same thing happened to a coworker. She lasted six months. I've known others to get burnout with the constant traveling. It is not for everyone.
Both good points, you may be Superwoman today and then, holy crap.

Squirl, what about a motorhome? How much stuff do you really need to keep?

Or, a timeshare? Or another rental prop where DH wants to go? Some timeshares are a ripoff but if you use them sometimes they work.
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Old 07-22-2014, 10:49 AM
 
Location: Fayetteville, NC
437 posts, read 616,243 times
Reputation: 662
Quote:
Originally Posted by Squirl View Post
Condos in the downtown area of both Dallas and Fort Worth sell ok -- especially in Fort Worth.

There are several reasons I would like to sell this house. I have lived here 10 years; it was my husband's home when we married. He bought it as a bachelor in 1996. It has never really felt like "mine" as much as I have rehabbed the house. When I moved in, it was with the intention of updating and selling. Then life and the real estate economy got in the way. I have very little love for this house other than its certainly very comfortable due to its size. And it has a great view sitting high above the golf course.

Our present house is 4300 square feet and requires landscaping to the tune of $300/mo. In addition we pay about $600/mo HOA fees here for live security and community private police force. Taxes, with our over 65 exemption are $10,000 annual. And, we only really live in 4 rooms. So, keeping this house isn't practical for us. We would like to use public rail and be in a neighborhood we could walk to some coffee shops or even to an occasional restaurant. Our present neighborhood lacks these amenities we desire.
It does sound like selling the house and not having the associated $900/month in expenses is probably your best bet. The condo option sounds like a better idea, especially with regards to downsizing and overall easier living.

Like you, I am also giving the global nomad lifestyle a serious thought and may jump into it next year and give it a whirl, depending upon my job situation. I love traveling and could easily see hopping around every three months or so.
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Old 07-22-2014, 11:07 AM
 
Location: Simmering in DFW
6,948 posts, read 19,452,381 times
Reputation: 7208
Quote:
Originally Posted by CCc girl View Post
Both good points, you may be Superwoman today and then, holy crap.

Squirl, what about a motorhome? How much stuff do you really need to keep?

Or, a timeshare? Or another rental prop where DH wants to go? Some timeshares are a ripoff but if you use them sometimes they work.
Yes, the health thing is a consideration. We are not driving people. My husband's driving is very aggressive and I look forward to paring down on his time behind the wheel We want to go down to one car that's in the garage most of the time and learn to use public transportation. Or no car at all. Motor home or RV just wouldn't work as far as giving us a place for storing things and since we want to plant ourselves in the middle of pretty urban areas, don't see the match there.

Timeshares could make sense for the gypsy part!

I've thought about another rental and that's a consideration. But we wouldn't get the tax homestead exemption or have a place to store our stuff.....tho I don't really mind getting rid of most of it. I might think on this more; move in with our stuff and when ready just rent it furnished could maybe be a way..
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