Retiring in a lower-priced town? (Boston, Framingham: apartment, to rent, big house)

[OutdoorLover]

Originally Posted by massnative71

Precisely my thoughts as well. When first posted I was thinking some "podunk" town like Winchendon, Middleboro or even Uxbridge, but I just don't see a huge shell shock arriving from affluent Metro-Westville to gasp...NORTH FRAMINGHAM!

LOL, yes, standing on the brink of a possible move to the wilderness of Natick or North Framingham doesn't seem like that dramatic of a change.

[yesmaybe]

Originally Posted by OutdoorLover

LOL, yes, standing on the brink of a possible move to the wilderness of Natick or North Framingham doesn't seem like that dramatic of a change.

Even North Framingham isn't cheap anymore. It's like 500k for a crappy postwar home. Natick would be a lot more.

[GeoffD]

Originally Posted by yesmaybe

Even North Framingham isn't cheap anymore. It's like 500k for a crappy postwar home. Natick would be a lot more.

I’m trying to understand why someone would opt to move somewhere so congested and car dependent for retirement. All you’re doing is trading the congested car dependency of a blue chip suburb for the same in a working class suburb. Personally, I’d either want high walk score where I don’t care about congestion or I want away from the congestion.

[MikePRU]

Originally Posted by yesmaybe

Even North Framingham isn't cheap anymore. It's like 500k for a crappy postwar home. Natick would be a lot more.

Even a lot of the slab ranches are selling for around $600K now.

[massnative71]

Originally Posted by yesmaybe

Even North Framingham isn't cheap anymore. It's like 500k for a crappy postwar home. Natick would be a lot more.

Originally Posted by GeoffD

I’m trying to understand why someone would opt to move somewhere so congested and car dependent for retirement. All you’re doing is trading the congested car dependency of a blue chip suburb for the same in a working class suburb. Personally, I’d either want high walk score where I don’t care about congestion or I want away from the congestion.

I assume OP has all this information, and knows what they want better than us posters reading. They are asking for experiences with a similar move.

[GeoffD]

Originally Posted by massnative71

I assume OP has all this information, and knows what they want better than us posters reading. They are asking for experiences with a similar move.

My confusion was reading the closing sentence that said "...cheaper, more remote town". I interpreted that as well outside 495, not North Framingham. No problem.

[missionhill]

One advantage of prop 2-½ is the real estate taxes aren’t all that punishing in MA so that empty nesters can more easily stay put if they want to. Some people are rooted in their communities, have friends and relationships, are involved in the local issues, have family nearby, and just like where they live. At least that seemed characteristic of the WW II generation— not one of my older relatives moved from the towns they’d lived in most of their adult lives. For the Boomers it’s a different story— buy low, sell high, move someplace warm… House and community become an economic asset rather than part of your identity. Anyway, don’t feel you should move just because other people do.

[MikePRU]

Originally Posted by GeoffD

My confusion was reading the closing sentence that said "...cheaper, more remote town". I interpreted that as well outside 495, not North Framingham. No problem.

One thing this job has taught me is that descriptors like "remote," "far out," etc. are all very subjective. I get clients all the time who don't want to look in a town like Natick because they say it's "too far out." Given that I live in Needham, I spend a lot of time in Natick and while Natick is further from Boston it's just a few minutes drive from my house and so doesn't seem significantly "further out" to me.

Originally Posted by missionhill

One advantage of prop 2-½ is the real estate taxes aren’t all that punishing in MA so that empty nesters can more easily stay put if they want to. Some people are rooted in their communities, have friends and relationships, are involved in the local issues, have family nearby, and just like where they live. At least that seemed characteristic of the WW II generation— not one of my older relatives moved from the towns they’d lived in most of their adult lives. For the Boomers it’s a different story— buy low, sell high, move someplace warm… House and community become an economic asset rather than part of your identity. Anyway, don’t feel you should move just because other people do.

A lot of town's also have programs that make real estate taxes more affordable for seniors. Some of them just defer part of the tax burden until the death or move of the resident which isn't great but there may be towns with a more reasonable approach to the idea as well. It's not something I've really spent a lot of time researching.

Regardless, it doesn't sound like the OP is all that advanced in age. To me, it just sounds like they want to cash out since they don't need the schools or the ease of commute their current home offers anymore.

[Jimrob1]

Originally Posted by Strannik33

I've been reading CD posts for years and, finally, here is my first post here. We are debating whether to retire in a lower-priced MA town or not. We've been living in an upscale Metrowest town for three decades. I am now retired and my wife will be in 4-5 years. She's working from home. We also have a millennial son living with us, who is also working from home but may have to start commuting to the South Station area again soon using public transportation.

We are still living in a starter-type house (raised ranch, c. 1970s), which is now becoming universally shabby, although we have recently replaced some major components (central air, doors, windows, roof.) The location is fantastic: We are at the end or a cul-de-sac abutting a forest, yet still close to town.

For years, we have toyed with the idea of moving out to a lower-priced town in MA, once we no longer needed the schools. We have also dreamed about living in a nice new (or at least newer) house with taller ceilings, large closets, fancy kitchen. Perhaps now is the time to do it. The alternative is to continue the renovations (we figure, we'd need about $100K to redo the kitchen, front steps and walls, repaint the inside, etc.). With the crazy RE market, we keep receiving invitations from builders to sell the house, and one RE agent has been relentless in advising us to sell as-is and avoid the hassles of further renovations. For now, we prefer to stay in MA, mainly because of its healthcare, but another possibility might be to move out of state (I keep researching where, churning over hundreds of lists . . . so far, nothing obvious.)

So the question is simple: Do you know someone personally who has moved from a nice overpriced town to a better area of a less-expensive but more remote town? If yes, was the move successful, or do they have regrets? Our former neighbors have done it and regret it greatly. Is this representative?

My sister is contemplating leaving Mass upon retirement which she is of age now. She is thinking Florida but she is afraid of not having the better healthcare in Mass. I live in Fla and I can tell you the difference is severe. Especially finding Specialist or getting timely appts in areas of Fla. I'd really look at other towns in Mass before deciding on other states. Many times other regions of the USA are cheaper for a reason. Reasons that might make them impractical as we age

[gentlearts]

Why don’t you research some towns where the property taxes are the lowest, that have some features that appeal to you? Then you and your wife can browse the real estate listings and go to some open houses, and see if you fall in love with any houses, or could see yourself living there.

It costs nothing to do this and you will get an idea of what is out there in your price range, compared to what you have now. One of two things could happen....you realize that there are a lot of nicer houses out there, without having to do a lot of work, or you realize that you really won’t be happy if you move.