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Old 08-21-2015, 05:47 PM
 
Location: Myrtle Beach
1,544 posts, read 1,692,822 times
Reputation: 3882

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Getting near retirement and my real estate business partner was starting to drink more than usual. Time to take advantage of a hot market and sell the duplex.
I am currently renting and will retire to a smaller home I bought for cash in another city next year.
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Old 08-21-2015, 05:47 PM
 
Location: Omaha, Nebraska
10,348 posts, read 7,938,733 times
Reputation: 27742
Quote:
Originally Posted by bande1102 View Post
That's the husband's argument, too; however, if you average the costs of all the repairs over the years, I bet we're actually paying close to that now as it is.
The other catch, of course, is that it isn't easy to find a GOOD handyman.
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Old 08-21-2015, 05:53 PM
 
Location: New Orleans, LA
1,843 posts, read 3,929,897 times
Reputation: 3366
Default How did you decide it was time to sell your house?

Oh, this one is easy for me.

You see, I had some extra money in my retirement nestegg, I'm getting older, and you can't take it with you. I thought and thought, and decided that what I really wanted to spend it on was a better home because I am such a homebody. After deciding to remain in this area, I started looking for my "dream house" locally. It had to be really something for me to want to move at all (moving is a lot of work), and since this will most likely be my last house. I looked for years, and in May I finally found it. I bought it on a very short timeline, and moved.

I love my new house!

But, right after moving in I knew it was definitely time to sell my previous house. Owning two houses just three miles apart is too much work for me and too much strain on the budget, and I have zero desire to be a landlord. So, I put the old house on the market the same week I moved. I got an offer almost immediately, and closed on the house yesterday thank goodness!
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Old 08-21-2015, 05:56 PM
 
Location: Columbia SC
14,225 posts, read 14,646,717 times
Reputation: 22092
We did 3 downsizes. First was from a home (no HOA) to a smaller townhome/HOA where all outside (landscape and building shell) maintenance was done by the association. The 2nd was to a new build, larger home in an HOA but at a much lower cost of living (retirement and no mortgage). I paid people to do all the outside maintenance but I still had the responsibility to be sure it was done. The last was to a new build, smaller patio home/HOA where the HOA does all outside maintenance of landscaping and house exterior shell. It is about as care free living as one can get. One can own and have a care free lifestyle.
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Old 08-21-2015, 07:45 PM
 
Location: Houston, TX
1,330 posts, read 1,533,883 times
Reputation: 4212
I just purchased this home in February 2015 and I was ready to leave by May. I had no idea that the neighbors across the street like to hold weekly Friday Fiestas in their garage/driveway. (while I was in Pending status, I drove by numerous times, day and night, including New Year's Eve, and hung out each time. I never heard or saw anything from those people). They have large speakers hooked up to their garage wall that directly faces my garage. Needless to say, I receive the brunt of their party music every freakin' weekend.

Between that, the dog next door that barks continously every time I step outside in my yard, and the guy next door that throws his cigarette butts in the street (they end up in my driveway and i have to end up sweeping them up) i'm done with this place. The apartment I lived in previously was WAYYY quieter, and much cleaner than here.

I've got a part time job weekends so I don't have to be around here much. I look forward to paying down some bills, putting extra $$ towards the mortgage principal so when I sell next summer I will at least break even.

I spend my evenings looking at cute townhomes/condos for sale to comfort myself while i'm counting down, and to keep motivation high. I can't wait.
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Old 08-21-2015, 09:27 PM
 
2,813 posts, read 2,106,587 times
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Quote:
Originally Posted by bande1102 View Post
I spent 6 hours on a sweltering summer day doing HOA- mandated yardwork. Ridiculous. Anyway, he is ONLY looking at mortgage vs rent. He also lives in some kind of magical place where repairs just happen or you can simply ignore them and things stay okay. I want to live in this magical place. I think it's called renting.
Ha! I think our husbands must be neighbors in that magical place! Mine seems to think that when he leaves for work, time stands completely still inside the walls of our house, during which time no daily living takes place, no messes are made, no grass grows, no passage of time affects various home systems--everything just stops. Oh, except for the magic home maintenance fairies who come and trim bushes, pull weeds, sweep and vacuum, wash and replace the dishes into the cabinets, cook the dinner, put fresh sheets on the beds and wash and put away his socks and t-shirts...
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Old 08-21-2015, 10:14 PM
 
1,399 posts, read 1,791,646 times
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I see your bio tag says stuck on the east coast hoping to head west. You also mentioned that 1000 dollar mortgage being converted into a luxury apartment. Honestly....stay on the east coast if you hope for this! Here on the west coast rents are through the roof. Here is an example. Two and a half years ago I rented an apartment billed as "luxury" it was a one bedroom, with a gas fireplace on the second story no utilities included. It was built in 91 and had never been updated. I paid 750 a month. There was nothing luxury about it! That same, still not updated, apartment is now going for 1,050. A three hundred dollar increase in less than two years. $1000.00 will get you little luxury out here. It is the rental situation here which has caused me to be a home owner. I will never go back to hearing my neighbors through walls and floors and being constantly at the whims of my landlords.
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Old 08-22-2015, 06:46 AM
 
51,619 posts, read 25,691,824 times
Reputation: 37806
Quote:
Originally Posted by bande1102 View Post
Just curious how people decide when to sell. Did you take a break from home ownership?
We decide to sell when we realize it is time to move.

Sometime it's a job transfer. Sometimes a desire for a different climate.

Just know when it is time to start packing. Usually takes me six months from decision to listing. Lot of work involved in sorting and fixing things. So the decision has to be serious.

But once it's made, it provides the motivation/energy to keep going.

We have taken occasional breaks from home ownership but have never really cared for the smaller space and lack of control over maintenance issues.

A townhome in a well-run HOA would be ideal for us.
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Old 08-22-2015, 07:41 AM
 
1,558 posts, read 2,391,705 times
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We knew it was time when our property taxes became too much of a burden. Hunt for another house is under way. Can't do the condo thing cause we like our outdoor space and privacy.
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Old 08-22-2015, 08:00 AM
 
4,676 posts, read 9,964,195 times
Reputation: 4908
1. Couldn't take the winters anymore.

2. Outgrew the house.

3. Can't handle the stairs anymore.
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