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Old 08-14-2017, 10:28 AM
 
13,955 posts, read 7,429,050 times
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I telecommuted from my eventual retirement home for 7 years but it's reverted back to a summer weekend home. I've also owned a winter home at a ski resort for 25 years. At age 59, it doesn't make financial sense to buy a 3rd home as my midweek primary residence.
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Old 08-14-2017, 11:02 AM
 
Location: Eagle, ID
159 posts, read 113,065 times
Reputation: 299
We knew we were not staying in so CAL after retirement so we started visiting cities we thought might work about 5 years out. In moving to ID we decided to build on a lot so we could customize the home for long term senior living. Single level, no thresholds or steps into home, walk in shower, wide hallways/doorways, etc.

Moving to a lower COL area allowed us to travel and maintain our lifestyle even though we retired early.

It's been two years now and we certainly made the right decision for us. Have excellent health care facilities, airport 20 minutes away, and walking/biking paths in our backyard right on Greenbelt of the Boise River. And our daughter, son-in-law and grand kids followed us last fall!
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Old 08-14-2017, 11:17 AM
 
350 posts, read 258,275 times
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We bought a vacation condo in Florida about 7 years before we retired. We rented it to snowbirds in the winter season while we were still working. We used it as a vacation condo during the "off season" in the spring/summer and fall. We loved it! About 3 years before we retired we started looking at homes in Florida that we wanted as our full time retirement home.

When we retired we decided that snowbirding was not for us, so we sold our home in Long Island and moved full time to our vacation condo. Once we were settled we went looking for a single family home with a pool and country club. Found exactly what we wanted. We still have the condo and now rent it out yearly.

So far this has worked out great for us. Good luck!
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Old 08-14-2017, 11:36 AM
 
Location: equator
3,462 posts, read 1,540,765 times
Reputation: 8610
Yes. We bought our beach condo in 2013 as it was being built. Vacationed and rented it out until retiring here a year ago. No problems on this end, but at the U.S. end, our former home is not selling. PITA dealing with it from here.


But since everyone on C-D is in a hot market--- with the exception of Serious Conversation and us--- the rest of you will not have this snafu.
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Old 08-14-2017, 11:57 AM
 
Location: Wasilla, AK
7,275 posts, read 4,154,513 times
Reputation: 15718
We did it the other way around. Bought our retirement home in Arizona, but moved back to Alaska and turned it into a second home. Our Alaska house is now our primary home.
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Old 08-14-2017, 12:21 PM
 
Location: Central Mexico and Central Florida
7,108 posts, read 3,468,096 times
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When we bought our first home in Mexico in 2008, we also thought it would be a vacation home. Within a year it became our main home and we only went to our AZ home once a year for 6 weeks.

Fwd 10 years and we now own a home in FL and another home in Mexico (same area, Lake Chapala)...this time we didn't kid ourselves and we know our Mexican home is Numero Uno.
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Old 08-14-2017, 01:01 PM
 
2,070 posts, read 870,677 times
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We purchased our retirement home in Southern New Jersey, about 50 miles south of our previous home in NYC. The homes overlapped about 6 months. We needed to stay in the original home until we sold it, and we used that time to make some upgrades on the new home. The original home was paid off so we mortgaged it to pay cash for the new home, and paid off the mortgage when we sold it. We have been in our retirement home 10 years now, so I guess it worked out OK. We changed all our doctors and dentist and stuff like beauty parlor, etc. when we moved. It wasn't a problem. The main benefit of the new home versus the old one is it's a single story home (no stairs to climb with bad knees), it's a quiet neighborhood, we have a bigger yard so more privacy (we pay to have the grass cut), shopping is close by (lots of strip malls), pay less in utility bills (house is more energy efficient), pay less in income taxes (RE tax is more but no NYC city taxes and state taxes are much less). The house we bought has gone down in value about 15 - 20%, the house we sold stayed the same. But we have no desire to move back to the city so it really doesn't matter.

Last edited by bobspez; 08-14-2017 at 01:15 PM..
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Old 08-14-2017, 01:08 PM
 
2,070 posts, read 870,677 times
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I visited Lake Chapala when I vacationed in Guadalajara back in 1970. We had a picnic at the top of the waterfall and I edged out on my stomach to the edge of a large flat boulder and looked out over the edge of the waterfall. It was a beautiful spot, like the grand canyon covered in lush foliage. I had read that over the years the lake had become an ecological disaster due to pollution. Has the lake recovered?

Quote:
Originally Posted by dothetwist View Post
When we bought our first home in Mexico in 2008, we also thought it would be a vacation home. Within a year it became our main home and we only went to our AZ home once a year for 6 weeks.

Fwd 10 years and we now own a home in FL and another home in Mexico (same area, Lake Chapala)...this time we didn't kid ourselves and we know our Mexican home is Numero Uno.
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Old 08-14-2017, 02:11 PM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
22,638 posts, read 40,010,157 times
Reputation: 23801
Our second home has a separate living space for us, so we rent out the big house ($1200 net positive cashflow) and stay in a vintage cabin while we enjoy our future retirement spot. (+ Deductible trips to manage / repair / upgrade the property).

Our main home has separate living space we rent out to cover taxes and insurance (And to have someone around to feed the dog and water the plants)

Either place can be a our future 'aging-in-place' home, as we can have a caregiver live in the extra living space.

Both are rural with view acreages (+/-; ... requires work... nice to visit and enjoy... ez to resell ... tough to downsize)

Plan B: Sell them on contract when rates get back to 5%+

(Early retired / no pension, so need cash flows)
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Old 08-14-2017, 03:10 PM
 
Location: Tennessee at last!
1,886 posts, read 2,043,806 times
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I bought my retirement home in April 2014 and retired in May 2017.

My primary home was in CA and the retirement home is in TN.

Originally I went to TN to look at the area and possibly buy land to build on. But after looking at land on rivers, which is what we thought we wanted, we decided that the rivers were too muddy or just not safe for what we wanted. There were dams less than a mile downstream, etc. and my kids wanted to kayak and swim.

While looking at property, we were staying at a timeshare on a lake. The kids wanted to live on a lake. Our CA house is near a lake, but not ON the lake. So we looked at lake property. We first looked at undeveloped lots, but then at a few houses. The realtor showed us all the houses and lots we picked out, but none were 'right'. He offered to show us one that someone else in his office had a listing for, so we said sure. The lot was beautiful, right on a large finger of the lake.

The house was a fixer upper. The previous owner was an engineer and thought he knew how to do things. He did not, but he used the most expensive material. So, the bedroom doors had been upgraded to solid oak doors. However, he apparently did not know what a plumb line was and none of the doors would close and latch. He put in beautiful solid wood floors, but did not know what to do with the electrical plug in the floor, so it was just a hole around the outlet, no cover. And where the hardwood floor met the hallway bedroom carpet there was not an end piece to lock the floor in, so the wood was separating and moving onto the carpet. Tons of things like that were wrong. Good thing was he stuck to messing with upgrades to the decorative structural type things and left the plumbing and electrical alone And he used the most expensive of materials.

I really was not expecting to buy a house, but with the repairs that were needed on this house, it was going to take a couple of years worth of vacations to get the major ones lined up and done. And the lot was perfect, as was the neighborhood. And the price! The owner had married and had a baby and his wife did not want a house by a lake. She was a nurse practitioner and her practice is in a major city and that is where they were living. So they wanted the house gone. They brought money to closing to get it gone. It was for sale for over a year, and almost 1/2 the original price.

So we spent the next few years visiting 2 - 3 times a year maybe 2 weeks at a time. Following our priority list of what to fix next each time. I get the equivalent to 26 days of vacation which can be manipulated and combined with holidays to make into more days, and I had a reserve of about 240 hours of vacation time to burn.

I also have two 14 year olds, which I wanted to get bought into moving BEFORE we did move. So at age 11 -12 it was pretty easy to get them excited to move, so it was something they looked forward to rather than regret.

It worked out well for me. I did put an alarm -simplisafe--into the house in TN to monitor it when I was not there. And I got to know the neighbors well. They let me know what was going on and helped me a lot during a wicked ice storm when my electrical to the house pulled out of the wall and the box had to be redone.

Also, my house in CA was paid for and I could afford the house in TN, the utilities, and the travel back and forth.

The good part, the houses in this part of TN have gone up a lot, and I would not have been able to afford this house had I waited. The bad part, the area in CA that my house is sells higher priced homes slowly! So it will take a while to sell.

The hard part, was we moved the best of our stuff to the TN house, leaving us to live in the worst of the furniture until we did move. When we did the final move, not much of the furniture moved ..we already had to good stuff moved. That left us with the worse beds, etc. for the last year or so. And we had moved sooo much of the kids good stuff, only to have them refill their CA bedrooms, so now they are way over supplied with 'stuff' they do not want to give up. But also, so is my kitchen!

I would do it this way again! BUT I could afford it, if money would have been tight I would not recommend it. I may be sitting on the house in CA for a year!
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