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Old 10-01-2017, 09:54 PM
 
Location: Sun City West, AZ
546 posts, read 464,698 times
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Have you considered a 55+ community in / near a major metro? I live in Sun City West, AZ and love it! My normal daily living is very small town-ish - quiet, friendly, and convenient with little to no crime. We have hardware stores, drug stores, grocery stores, banks, etc. all inside the walls of SCW, yet just outside the walls is everything the Phoenix metro has to offer.

In addition to that, there is sooo much to do right in SCW - we have over 100 clubs with fully equipped facilities to explore just about any hobby you can think of. In addition, there's rec centers, pools, tennis, pickelball, bocce, etc. etc. etc.

Oh, and I only pay about $750 in property taxes per year for my 1600 sq house! No school taxes here!
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Old 10-02-2017, 07:02 AM
 
Location: Tennessee
23,541 posts, read 17,525,434 times
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I think the best mix is going to be in a suburb or small town within an hour of a fairly major (~2 million CSA size) metropolitan area.

I live in a depressed town of 50,000. We have a small bus system, but it mostly runs during core business hours during the work week. It seems to have mostly a senior ridership. It does run between several of the medical facilities and larger gathering points in town.

The thing about going truly rural is that if you are no longer able to drive and do not have anyone to take you somewhere, you are basically stuck.
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Old 10-02-2017, 07:23 AM
 
71,463 posts, read 71,629,249 times
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one big danger of reverse mortgages is exactly that. being in a place with no public transportation and not being able to drive can really suck with a reverse mortgage that drained the equity out .
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Old 10-02-2017, 07:41 AM
 
Location: Tennessee
23,541 posts, read 17,525,434 times
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Quote:
Originally Posted by mathjak107 View Post
one big danger of reverse mortgages is exactly that. being in a place with no public transportation and not being able to drive can really suck with a reverse mortgage that drained the equity out .
Another thing is that the house may not even appreciate that much.

I was looking at a condo about a month ago in a desirable part of this area. It sold for $79,000 in 2009 and recently sold for $83,000. That's not even keeping up with inflation.
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Old 10-02-2017, 07:42 AM
 
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well our home we owned in the pocono's sold for 65k less than we sold it for in 2012
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Old 10-02-2017, 07:49 AM
 
1,137 posts, read 569,034 times
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It didn't need to keep up with inflation. I would expect that the rest of the properties in the same area increased at the same low rate. Bottom line is if you had bought it in 2009, you would have had 8 years of tax write-offs, 8 years with no rent increases and unexpected landlord visits, and at the end of the day, made a profit on the sale of the place. It's an investment, yes...but it's just a house.
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Old 10-02-2017, 09:36 AM
 
1,048 posts, read 512,583 times
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Quote:
Originally Posted by Serious Conversation View Post
Another thing is that the house may not even appreciate that much.

I was looking at a condo about a month ago in a desirable part of this area. It sold for $79,000 in 2009 and recently sold for $83,000. That's not even keeping up with inflation.
Yeah, this is the problem with selling the city residence and moving rural. If it turns out to be a mistake, you may be priced out of moving back. Happens to many here in the Bay Area who sell, and 2 years later can't move back because houses are 200k more and the property taxes literally could be 5 times what they were paying due to prop 13 dynamics. There's just no going back for many.
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Old 10-02-2017, 11:13 AM
 
Location: Tennessee
23,541 posts, read 17,525,434 times
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Quote:
Originally Posted by MichiganGreg View Post
It didn't need to keep up with inflation. I would expect that the rest of the properties in the same area increased at the same low rate. Bottom line is if you had bought it in 2009, you would have had 8 years of tax write-offs, 8 years with no rent increases and unexpected landlord visits, and at the end of the day, made a profit on the sale of the place. It's an investment, yes...but it's just a house.
I'm not saying the house isn't "worth it" from a larger perspective, but there are many, many areas of the country where if you buy a house, you're basically buying it as a lifestyle choice and to avoid potential future rent increases.

You're not going to make much money off its appreciation, or lack thereof.
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Old 10-02-2017, 02:25 PM
 
Location: Asheville NC
1,601 posts, read 1,311,930 times
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Default We picked Asheville

Quote:
Originally Posted by JRR View Post
Almost every autumn we had spent a week in the mountains of North Carolina and about 15 years ago we decided that was where we wanted to retire. So we bought two acres and planned on building a new home when the time came. Nearby town with a population of about 2500 and about 40 miles from Ashville.

When we got close to retirement we sat down and took another look at this idea. Local shopping would be pretty much at Walmart and Lowes. For much of anything else it would be a trip to Ashville. For any medical specialist/procedures it would pretty much be make the trip to Ashville. Choice of restaurants fairly limited. Looking out as we would age, the trips to Ashville looked less appealing. So we adjusted our thoughts on how we wanted to live in retirement.

We wound up kind of splitting the difference of a rural or city life. Traded the 2 acres in the mountains for a house in a subdivision at the foot of the Cumberland Plateau. All our medical needs are within 10 minutes from home. For a town with a population of 35,000 the medical situation is pretty good with many specialists. When my wife needed back surgery, no problem with having to go elsewhere for a neurosurgeon.

Area has all the shopping choices we need. Haven't had to make any trips to Nashville or Knoxville for things we can't find here. Even got a really nice bakery that a former pastry chef at Disney opened in a small town a few miles away.

With Tennessee Tech University being here, there seems to always be some music, including the Bryan Symphony, or play to go see. Going on Friday to see King Lear that is being done by the local arts people. May not be New York City level but enjoyable to us. Plenty of ethnic restaurant choices like Philippians or Syrian or El Salvadoran, as well as the usual.

So for us, this worked out very well. We may not have all the amenities of New York or Philadelphia or Boston, but there are enough for us. And I can sit out on my deck in the evening and listen to the rustle of the wind in the leaves of the trees. And on my way to town, I can see the deer out in the evening grazing at the edge of the woods

If anyone is interested, I have two acres in the mountains of North Carolina for sale!
We are on a mountain,(8 miles from downtown), feels rural, quiet, clean air, pristine well water, close to shopping and medical care. The arts are celebrated here. Also Asheville was named a top food city last year (7)
https://www.zagat.com/b/the-26-hotte...cities-of-2016

We have calming views all around us. We are a days drive to many larger cities. I feel we have the best of both worlds.
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Old 10-02-2017, 03:58 PM
 
13,872 posts, read 7,381,208 times
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Quote:
Originally Posted by barb712 View Post
Same here! We grew up in Queens and lived many years on Long Island. I lived in New England, too, so am familiar with the places you mentioned. Portsmouth is so beautiful, I considered living there at one time. I also really do love the Berkshires and upstate NY. When I used to go visiting from Boston to NY, there was that spot on the highway where you could turn right and go up to Albany. I was always tempted! We would have settled in one of those places in a heartbeat were it not for the harsh winters. We chose the Upstate of SC instead, which offers a similar environment and lifestyle minus the snow and the bone-chilling cold.
I used to live on the back channel between Portsmouth, NH and New Castle Island. I loved the place but the math didn't work. I couldn't have that much of my net worth tied up in a house and the ownership costs weren't going to be sustainable.

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