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Old 01-11-2016, 11:25 PM
 
6,876 posts, read 7,273,507 times
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My case is completely hypothetical, and YEARS away, but I do like plan ahead. (I muse about these things.)

Obviously you don't have to answer all the questions. It's more about the logistics of it. In your case:
-- Did you work up until the last day, and move the next week?
-- Did you have a house to sell? if so, did retire, and then prep it, then sell?
-- Did you sell it BEFORE you retired, so when you did eventually retire you were ready to move right away?
-- Did the plans go smoothly? Did things take longer than expected? Were there surprises?

In my case:
-- I live in a house with a mortgage, but already have a mortgage-free retirement home, a state away.
-- Years from now, I'll tun 65 in June, and plan to retire the next January.
I WAS planning to retire, then leisurely prep the house I live in now, then sell and move….

But then I realized if I do that, I'll be paying a mortgage on the house after I'm already living on my pension….as well as moving and prepping the house in the winter, to get ready for spring listing season. And I'm wondering if I really want to do that in winter.

Now, I'm wondering if I shouldn't sell the house the spring/summer BEFORE I retire. And during that last 6-9 months I'm still working, live in an apartment with no encumbrances. So that when I do retire 6 to 9 months later I can move free and clear. It means moving twice, and going from a 3BR, 2 1/2 BA house, into an apartment. But that's not the worst thing in the world. When I sell the house, I'm not taking anything with me into retirement but clothes anyway, because the retirement house is already fully furnished and waiting. I'm planning a near total sell-off anyway.

Another plus of selling before retiring is I'll already no what the profit of my sale will be and it will already be invested, and give me a better sense of my retirement finances.

So what's your story…what did you do when retiring and planning for a move…how did you do it?

Last edited by selhars; 01-12-2016 at 12:10 AM..
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Old 01-12-2016, 01:24 AM
 
Location: Wasilla, AK
7,235 posts, read 4,128,251 times
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Retired, sold old house, moved to different state, rented for two months during which time bought new house and remodeled it. Was actually pretty easy transition. Then moved back home and bought second house. Will now snowbird.
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Old 01-12-2016, 05:58 AM
 
Location: Northern panhandle WV
3,007 posts, read 2,169,240 times
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We just did this, moved 700 miles to our retirement home. it took 6 26' rental trucks to get our stuff down here in several trips. not fun.
Now we have boxes of stuff EVERYWHERE. and it is very slow going to get them unpacked and all the projects that need doing here.
Husband and I are both to ill to do much, my son is helping. His family moved with us to help take care of us. We are hoping to sell our Cape Cod house but so far have not.

You are right to plan ahead as much as possible I have been planning for 5 years, but then the retirement got bumped up by 7 months.
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Old 01-12-2016, 06:06 AM
 
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I bought in a community where the house took 12 months to build from signing the contract. I sold my condo in 3 weeks and moved into a rental until my house was finished. It worked out well financially. Other option is to sell and then rent until you find a house.
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Old 01-12-2016, 06:33 AM
 
Location: Backwoods of Maine
7,110 posts, read 8,149,204 times
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I purchased land in Maine a year before I retired, as we knew that was where we'd retire to. It just sat there, until I sold my business (the way I "retired"). Then I waited for the good weather, and with 2 male relatives, built the small ranch that we live in today. It took another year before the interior was all finished, and in the spring of 2014, my wife and I moved in.

The house we'd been living in prior to that, was given to one of our two daughters. It was our decision to pass on the bulk of their inheritance as soon as we moved. The other daughter received a similar amount in equities. We figured that they were at the point in life (40-ish) where the funds would be put to best use, as we have 6 grandchildren who are now growing into their teens.

Yes, it all went smoothly, with just a few blips; nothing major. Everybody's pleased so far.
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Old 01-12-2016, 07:17 AM
 
6,239 posts, read 4,721,373 times
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We began a long process of fixing up the old house and downsizing. Then we had months with the house on the market. Finally, we had a contract and waited until the buyers had complete loan approval. At that time I gave a months notice. We still had lots of work to do in order to move out so we closed and had a 2 week period when we rented back from the buyers. Finally everything was in storage and we set out in our RV.


The only downside to this plan was reaching the time for retirement and then having to wait for the house to sell. That was only a few months of extra work but seemed to last forever.
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Old 01-12-2016, 07:22 AM
 
Location: Mount Airy, Maryland
10,459 posts, read 5,922,719 times
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Quote:
Originally Posted by jrkliny View Post
We began a long process of fixing up the old house and downsizing. Then we had months with the house on the market. Finally, we had a contract and waited until the buyers had complete loan approval. At that time I gave a months notice. We still had lots of work to do in order to move out so we closed and had a 2 week period when we rented back from the buyers. Finally everything was in storage and we set out in our RV.


The only downside to this plan was reaching the time for retirement and then having to wait for the house to sell. That was only a few months of extra work but seemed to last forever.
This is kind of how we plan to do it. I don't see how I can retire before selling the house, how do you plan without knowing how much you will be receiving? So when I approach 65, my target date but that's flexible, we'll start the slow and possibly long process of selling. Once that is done we will move south, rent for a few months as someone suggested (the returns on the big lump payment of the house will almost pay the rent) until we find the area and house we like
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Old 01-12-2016, 07:40 AM
 
Location: Connecticut is my adopted home.
2,276 posts, read 3,077,821 times
Reputation: 7017
We sold our "big" house for the downsized retirement cottage about 10 blocks away which was pretty much redone from the studs out including wiring and plumbing. We bought a lightweight travel trailer and snowbirded for three years. We sold our possessions over a period of 5 years in the middle of the Great Recession which I don't advise. (Our real estate market fortunately was still healthy.) We bought a home (paid cash) in a temperate (allegedly) climate near family and took a large part of our possessions down the Al-Can in a rented U-Haul truck and a large van with a trailer, then sold the finished little house for good coin, and moved the rest of our stuff out of AK.

I was retired 4 years before even snow-birding waiting for DH to finish his career. We traveled the first year then began our move preparations though we had already begun to get rid of possessions when we sold our larger home. Things always pop up. Just go with the flow. Be prepared for things to take longer than you think they will. For us mortgages (or another installment or credit payments) were not part of the equation at leaf 4 years before I retired. Considering the distance we had to move and the logistics of going through another country (Canada) our move was as smooth as any of that will ever go. Best of luck to you..

Last edited by AK-Cathy; 01-12-2016 at 08:20 AM..
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Old 01-12-2016, 08:05 AM
 
Location: Eastern N.C.
191 posts, read 141,999 times
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Sold our house last weekend in March.
Signed contract on new house on the 4th.
Closed on the 20th
Rented it back for two weeks.
Retired May 1st.
Closed on new house on the 4th.
Moved out on the 5th.
Moved in on the 6th.
Living life and haven't looked back
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Old 01-12-2016, 09:03 AM
 
1,829 posts, read 2,596,167 times
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Short story: retired, sold house and moved down to our "get away" second home on a lake 85 miles away.

Longer story: knew we would be doing that so started to upgrade house (built in 1979) years before moving so we could enjoy new kitchen appliances, new outdoor slate walk and front door, etc. then spent first year after retirement doing the downsizing and at the end the upgrades needed to list it (taking care of a water problem in garage, painting, removing bathroom wallpaper, etc).

Continuing story: still not sure where we want to live when we grow up. We know the current house is not our "forever" home but haven't decided where that will be or if we continue to snowbird in Florida what that will look like (renting vs buying second place). We are early 60's so figured this is the time we can "play", look around, and figure that out.

To be continued....
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