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Old 01-21-2010, 03:08 PM
 
Location: SoCal desert
8,093 posts, read 13,236,672 times
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Quote:
Originally Posted by SpeedyAZ View Post
Depending on how large of a place you require, you could buy a park model in one of the various retirement communities in Mesa. They are fairly cheap (about $30K-$40K) and the lot rent runs about $4500/ year. Great option for someone who just wants a small place that's affordable.
I looked at park models in Show Low last October. Price ranges were from $16K to $29.5K, space renting for $3,000 to $4,200.

Gorgeous little things, but that was the problem - little. Where would I put my books?
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Old 01-21-2010, 04:31 PM
 
12,573 posts, read 16,671,782 times
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My wife and I have three homes in retirement, two in the west Texas Panhandle and one at Albuquerque. We try to keep one Panhandle home rented but we just had to replace the metal roof on that house and that was extremely expensive because I could not do some of the work myself. Regarding recommendations on owning two homes in retirement, I've always been told that one should never buy a second home while they are still working because you, and situations, may change significantly. One of my Texas homes was inherited prior to my retirement but I bought the other one in Texas (a farm) after I retired.

My wife and I are now trying to consolidate everything to the area of Texas where our farm is located but we also have some commercial rental stuff that will also have to be liquidated and that is slowing the process considerably. It has simply become too difficult to take care of and manage these widely-spread properties. Another consideration for multiple home ownership in retirement is, if you plan to do some of the maintenance work yourself, rest assured that the installation of a new kitchen sink at the age of 45 or 50 may become very difficult at the age of 60 or 65. I speak from much experience and with many war wounds for trying.
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Old 01-26-2010, 01:52 AM
 
Location: Bay Area
51 posts, read 178,488 times
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I have a former co-worker who upon retirement several years ago, decided that instead of having two homes, they'd rent an apt / flat in an international city for 4 to 6 months each year. So far they've spent 6 months in London, 6 months in Paris, a few months in Spain, etc. They were looking forward to Rome, but I haven't spoken to her in quite some time so I'm not sure if that was last year or this year.

Her explanation was that flights, renting the flat and renting a car in each location was cheaper than having a second home, and they were able to not just see the world, but actually learn a great deal about these cities by becoming residents for an extended period of time.

It's an interesting idea.
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Old 01-26-2010, 10:34 AM
 
5,822 posts, read 13,321,007 times
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We tossed the idea of two homes back and forth, one up north, one down south, and after considerable research, not too mention owning two homes in adjoining states, we decided to have one home, one RV. We both prefer upstate NY and all that comes with it (snow, fall foliage, etc.). We love to travel and considered a condo in HI also. For the majority of the year, the south with the heat, humidity, bugs and critters doesn't appeal to us. So we spend a month+ in HI, travel in the RV on several trips during the year, and head south for a month in the winter. This way we don't have to be concerned with repairs and up keep on two homes, we don't get bored at all and are always up for an adventure. We have met some wonderful people when we are RVing and are able to take our dog and have all the comforts of home. Everyday is a gift, and we want to enjoy it while our health is still good.
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Old 01-26-2010, 06:48 PM
 
Location: Wisconsin
8 posts, read 14,856 times
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Quote:
Originally Posted by MJRinCA View Post
I have a former co-worker who upon retirement several years ago, decided that instead of having two homes, they'd rent an apt / flat in an international city for 4 to 6 months each year. So far they've spent 6 months in London, 6 months in Paris, a few months in Spain, etc. They were looking forward to Rome, but I haven't spoken to her in quite some time so I'm not sure if that was last year or this year.

Her explanation was that flights, renting the flat and renting a car in each location was cheaper than having a second home, and they were able to not just see the world, but actually learn a great deal about these cities by becoming residents for an extended period of time.

It's an interesting idea.
I am still working and have 2 homes...one in the area where I work and a second home I bought a couple of years ago with the idea of using it for my main home when I retire. I originally thought I would get a home in a warm climate and spend most of my time there in retirement. With all the upkeep of owning 2 homes I now realize that I would rather spend my time (and money) traveling and possibly spending a few months of the year in one place and enjoy myself instead of trying to find a handyman to help me take care of another home. I love the idea of spending a couple of months a year in another country learning and exploring...as long as my health holds out. It would be fun to find someone with the same idea of retirement and traveling. Does anyone have experience with home swaps for a month or more during a year?
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Old 01-26-2010, 06:57 PM
 
Location: Wisconsin
8 posts, read 14,856 times
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Quote:
Originally Posted by MJRinCA View Post
We retired in Oct 08 and at that point had been working on the plan for close to 15 years. We knew we didn't want to stay where we were, (bay area - too expensive and crowded), so 2 years before we retired we purchased a home in the Coachella Valley (Palm Springs / Palm Desert area), then just before retirement we purchased another home near Reno, NV. We moved to Reno and made it our permanent residence. The house in the desert is our winter location. We spent ~ 7 months in NV and the remaining 5 months in CA.

NV has no state income tax, which is one of the major reasons we chose it to be our primary residence.

So far it's been fantastic. Even with two house payments, it's cheaper than what an apartment costs in the bay area. We decided to not rent either house while we're not there, just so we don't have to deal with the headaches associated with renters (we've had lots of experience as landlords), and instead we hire a service to check on the houses periodically. We have our telephone through Vonage so it goes with us from house to house. We're able to temporarily turn off such things as the cable, internet service, garbage, etc as we're leaving, then have them turned back on a week or so before we return. Our mail is all delivered to the primary residence and we use the USPS Preferred Forwarding Service to forward it to us once per week while we're at the desert house. We find them to be highly reliable.

In our neighborhood in the SoCal desert, 80% of our neighbors are snowbirds, spending only the winters here. They've been a big help in setting things up.
Thanks for all the good information on how to retire successfully. The devil is in all the small details that those of us who are not yet retired need to know about. I'm counting down to the day I can finally retire. I wish there were some sort of retirement handbook or checklist of common sense things to think about like the USPS info and other hints to a smooth retirement. Thanks again for the tips.
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Old 01-27-2010, 02:33 PM
 
16,092 posts, read 36,583,468 times
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There are many lakes and reservoirs in the South and in Texas which have very cheap cabins - a lot of people talk about moving to Latin America but I would much prefer a little place here in the states. Some of these places are somewhat remote but not really that far from a big city and airport.
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Old 01-30-2010, 12:32 AM
 
Location: Scottsdale, AZ
4,486 posts, read 15,287,199 times
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Quote:
I looked at park models in Show Low last October. Price ranges were from $16K to $29.5K, space renting for $3,000 to $4,200.

Gorgeous little things, but that was the problem - little. Where would I put my books?
I have an aunt and uncle who live here for 3-4 months a year in one and they do just fine, he actually added a shed onto the park model where he stores different things. I've thought about investing in one as baby boomers are retiring and renting out places like this for a few months but I'm not sure if I would qualify to buy one even if I don't live in it.

Just an option.
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Old 01-30-2010, 12:59 AM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
22,601 posts, read 39,974,527 times
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I like the 'shared equity' type model, with a twist.

Find someone you can be very good friends with who either has, or would like to have a Mother-in-law house, or apartment in shop or garage. You contribute to build (or purchase) a fractional share of property (~ $20k in USA or $1000 to $5000 in South / Central America). You end up with the place to stay (and a fractional share of ownership), and they end up with a nice shop or garage, with some guest qtrs for when you are gone. And you have someone caring for the place while you are away.

Now to locate those people.... Ideally it would be close to an airport and you could stash a vehicle on site and commute via air (think rural or large lot, or go 'car-free' in the right locale). I can't help but think there are plenty of aging farmers who would jump at this chance to have an extra hand and set of eyes around during harvest or calving / lambing.
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