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My wife and I are always driving around trying to find the perfect town for retirement in a few years.
We decided that it would be nice to have a larger home and at least a quarter acre of land with grass and trees, instead of the cramped townhouse we are living in today because it is the only place we can afford in our white-collar dominated high cost of living community. We live in Bethesda MD.
Because we live in a suburban city that has excellent demographics (Rich people), we get many of the benefits. We get: Well laid out neighborhoods, lots of trees and professional landscaping, great schools, wonderful libraries, parks, low crime and tons of shopping and restaurants.
But in retirement, we could get twice the home at nearly half the price if we moved to a "working class" community outside the Washington Metro Area. For example, Roanoke VA is a nice enough town but has fewer nice restaurants, poorer schools, less landscaping, rougher looking neighborhoods, less shopping, poorer libraries, more poverty, and social problems. There are some nice neighborhoods but the community does not offer as much as our current hometown of Bethesda MD.
When I have traveled to working-class communities, like Roanoke, I am so happy to see such nice folks and their lack of ego and friendly personality.
BUT THE HOME WE COULD GET AT HALF THE PRICE and the money we could save for travel and hobbies.
Last edited by Questions and Comments; 08-01-2019 at 11:32 AM..
I guess the first question you have to ask yourselves is: how much benefit do you personally derive from "Well laid out neighborhoods, lots of trees and professional landscaping, great schools, wonderful libraries, parks, low crime and tons of shopping and restaurants"? These amenities are of great importance to some people, not so much for others. You need to determine which amenities you really want.
My wife and I are always driving around trying to find the perfect town for retirement in a few years.
We decided that it would be nice to have a larger home and at least a quarter acre of land with grass and trees, instead of the cramped townhouse we are living in today because it is the only place we can afford in our white-collar dominated high cost of living community. We live in Bethesda MD.
Because we live in a suburban city that has excellent demographics (Rich people), we get many of the benefits. We get: Well laid out neighborhoods, lots of trees and professional landscaping, great schools, wonderful libraries, parks, low crime and tons of shopping and restaurants.
But in retirement, we could get twice the home at nearly half the price if we moved to a "working class" community outside the Washington Metro Area. For example, Roanoke VA is a nice enough town but has fewer nice restaurants, poorer schools, less landscaping, rougher looking neighborhoods, less shopping, poorer libraries, more poverty, and social problems. There are some nice neighborhoods but the community does not offer as much as our current hometown of Bethesda MD.
BUT THE HOME WE COULD GET AT HALF THE PRICE and the money we could save for travel and hobbies.
The pros and cons are pretty evident but I would note that you should be able to find a cheaper locale that also has a low crime rate....at least we can in our state (Washington). Barring family issues, I would take the gains on your Bethesda house and get more what you want for less in another locale.
But in retirement, we could get twice the home
BUT THE HOME WE COULD GET AT HALF THE PRICE and the money we could save for travel and hobbies.
Twice the home means nothing. Quality outweighs quantity. Unconventionally large lots put distance between neighbors. No community. Less socializing. Sounds depressing.
It's nice to hear neighborhood kids having fun.
The only good point is downsizing and making extra cash available for other things.
It's also nice to have a variety of amenities: shopping, medical, entertainment, public squares, stimulation, people watching.
Finally, living near kids and grand kids trumps everything else. Then comes climate.
I grew up in Bethesda. It was expensive then and way more so now. I would definitely move to a less expensive area for retirement. That does not mean the area needs to be "working class" or as cheap as possible. My wife and I looked at a lot of places that we rejected. "Working class" was not the issue, but a neighborhood full of people with no cultural interests proved to be not what we wanted. We live where there is a major University and educational and cultural opportunities.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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Where we live the median family income is $160,000, median home price $900,000. The schools are very highly rated, and there is virtually no crime. With our 3,000 sf house and $7,500 property tax bill, we intend to move upon retirement in 2-3 years. Like you, we are considering a less upscale community, with smaller house, more land, within about two hours of our kids/grandkids. For me the biggest reason for moving to where we are now is the kids. Now that they are adults and on their own our needs in a home and location are much less. As long as we have access to medical and shopping within a reasonable drive, we will be happy. We have plenty of hobbies to keep us busy without the amenities of a big city, which we don't have now anyway. If home prices remain steady or continue to rise we should be able to buy for cash with our equity, with a few hundred thousand left over. Some of that will be used for a good security/alarm system. Our current crime rating is 80, safer than 80% of U.S. cities. The places we are considering are in the 20-30 range. It's a compromise, to be able to continue your desired lifestyle with probably 40% less income.
I have visited the area over the years and I agree it is expensive. Also crowed. I think moving makes sence.
I would look for an over 55 community of single homes with small lots as I get older I do not think I would like a lot of outside work.
I live in a working class town. Other than family ties, better climate, and better outdoor recreation, the leafy suburban areas I've lived in previously had a much higher quality of life.
I live in a working class town. Other than family ties, better climate, and better outdoor recreation, the leafy suburban areas I've lived in previously had a much higher quality of life.
Well, where I come from suburban is working class. People leave their homes early in the morning to commute to work in various jobs. They work. I assume you also worked when you were living in the leafy suburban area you found to be a much higher quality of life, making you one of the local working class.
When did people living in suburbs stop being working class?
Last edited by marino760; 08-01-2019 at 02:07 PM..
Well, where I come from suburban is working class. People leave their homes early in the morning to commute to work in various jobs. They work.
When did people living in suburbs stop being working class?
Probably when people who make a lot of money wanted to see themselves as "Special". It goes something like this: Hey man WE WORK hard for our money.... but ehhh... real work... as in actually working... that's for people who don't make as much money as I do. And sweat. Hence the term "working class" to distinguish between those who are proud of their paychecks and those who should feel ashamed for needing to work. Or as Chris Matthews once put it: "The difference between the people who shower before they go to work and the people who shower when they get off work."
There's another retiree board I read. The well-moneied 7 and 8 figure 401K people who post there call themselves "High income producers." Not workers. That would also imply it's not easy for them. They are "producers." Show up and what... pull it out of a hat? Conjure it up by force of will? Whatever it is they do not like calling themselves workers unless of course someone implies they do not work as hard as someone with a hard dirty dangerous job.
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