Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Ok, here's my situation:
I'm a homeowner with a mortgage on a single residence house alone over the past couple years since my youngest finished high school and moved out.
I can afford my mortgage and am but wonder if it makes sense to own...what with not only the mortg but also upkeep, taxes, insurance, termite control contract, utilities.. not to mention having to mow the lawn every week and other chores.
Since I live alone in a 3Br2Ba2Car home in a nice quiet wooded suburban neighborhood it's peaceful and quiet but I find myself what am I doing this for?
nearby is a KOA campground that has completely furnished cabins overlooking a beautiful lake that I could kayak and fish in everyday and no upkeep or maintenance....just come home and fire up the grill for dinner on the back deck that overlooks the lake. It's also much cheaper than the mortgage and includes utilities!
I don't want to make a mistake but sometimes, I think about selling everything in the house that I've accrued over the past 25 yrs of having a family (wife divorced and the kids grew up and left) and just going it simple like moving into the cabin and buying a camper to use for road trips (hopefully meet a special woman).
There is nothing wrong with renting if that works for you. When I retire I probably going to move into one of my townhouses. Get a RV in storage and go travel.
I think the KOA campground is kind of a neat idea as long as you have your own walls. personally, the idea of giving up my house and moving back into an apartment is nightmarish.
Not nearly enough info. Yes, you could save money right now, but have you considered the following?
How close are you to retirement?
How well funded is your retirement?
Would you be OK financially if you had to continue to pay rent (remembering rents will rise) when living off SS/retirement savings?
How much money (proceeds of house sale/monthly disposable income) would be freed up to invest for retirement if you sold your house and moved into the cabin? Would you faithfully invest/save that money?
I think your plan sounds fantastic! I am in a very similar boat; cheating wife of 24 yrs got nixed, my daughter went away to school, and I said the heck with all of it, and early retired at 46. Been trying to buy into the exact lifestyle you want, but am having trouble finding just the right, remote-ish cabin/cottage I want, especially in this seemingly "over-heated" housing market... Feels in some ways as it did before the crash; i.e. folks think their homes foundation is made of gold blocks, and I have realtors telling me folks are getting/can be qualified for loans with sub 600 credit scores... I might just wait for the bust, and rent for now.
I hope you find that special lady; I dated a very kind, down to earth women for almost three years, and wish it could have gone on longer... But now I'm single, and want nothing but continued simplicity, low stress, and living everyday like it's the weekend. BTW, had the women I was dating not had an early teen son, she would have gladly lived in a cabin with me... Women like this are out there, and they actually crave simple living too. Best of luck with your quest.
Ok, here's my situation:
I'm a homeowner with a mortgage on a single residence house alone over the past couple years since my youngest finished high school and moved out.
I can afford my mortgage and am but wonder if it makes sense to own...what with not only the mortg but also upkeep, taxes, insurance, termite control contract, utilities.. not to mention having to mow the lawn every week and other chores.
Since I live alone in a 3Br2Ba2Car home in a nice quiet wooded suburban neighborhood it's peaceful and quiet but I find myself what am I doing this for?
nearby is a KOA campground that has completely furnished cabins overlooking a beautiful lake that I could kayak and fish in everyday and no upkeep or maintenance....just come home and fire up the grill for dinner on the back deck that overlooks the lake. It's also much cheaper than the mortgage and includes utilities!
I don't want to make a mistake but sometimes, I think about selling everything in the house that I've accrued over the past 25 yrs of having a family (wife divorced and the kids grew up and left) and just going it simple like moving into the cabin and buying a camper to use for road trips (hopefully meet a special woman).
That is a huge house for one person. Let another family make use of it.
I do agree with the person who asked about your retirement. Although, I'm guessing you can rent cheaper than your house/with expenses since it is only you (for right now).
Get into excel and run your numbers. And it could be your numbers are close but you simply want a lifestyle. I pay more for certain things because I want my lifestyle. You can save money but damn, you have to live as well.... I don't want to be old and have regrets.
Save all that money and be too broke up to do anything... don't spend like an idiot either but I think you get the point. There is balance. But you are talking about living cheaper (or so it seems... I know nothing about cabin living so I am not a good source).
I think it would be really hard to go from a "quiet, suburban, wooded neighborhood" to living in a KOA. I can see downsizing perhaps to a smaller house, but to drastically change your lifestyle....I dunno .....I think after the novelty wore off, you would deeply regret it.
A nice cabin on your own lot, however, might be a better option?
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
