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Old 12-27-2014, 06:30 PM
 
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I think you would have a very hard time finding a rental.

Even though most of the homes in your area sell in the summer - does it mean you have to sell in the summer? What if your home goes up for sale at the time that best syncronizes with the end of your job. So you sell in the winter. Or leave it empty for 4 months so you can move to the new retirement home,and then place the home on the market in the spring, so it will sell by summer 'season'. So you have a vacant home for a few months.

Then you will have to remodel the retirement home while living there. So make it work. If needed, you can get an extended stay hotel for a month while the kitchen is torn up
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Old 12-27-2014, 08:29 PM
 
Location: Tennessee at last!
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I have to sell it before I retire as I can not afford two house payments on my retirement income.

And I can try to sell it in the Winter, but homes just do not sell then, maybe one or two a month compared to 50 a month in the Summer. And those are generally the homes priced much lower than mine.

It would be better to sell it early and stay in an extended stay hotel while working as there are many of them by my work, but not so many, if any near the retirement home. And extended stay hotels will not be too happy with my pets either I would do better with pet friendly hotels and getting 2 rooms that are adjacent.

I will make it happen, just getting information about how to do that best
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Old 12-27-2014, 09:11 PM
 
Location: West Virginia
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Can you afford the Mortgage + Remodel + Hotel bills?
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Old 12-27-2014, 09:48 PM
 
Location: Tennessee at last!
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yes, I will be selling my current house and using the equity from that to pay for the remodel, paying off the mortgage of the retirement house, and have some left over.

Most of my $ is tied up in the house I currently live in.
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Old 12-27-2014, 11:02 PM
 
Location: West Virginia
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Your talking about room for 3 people & 6 animals... yet saying a 2 room motel? Wow Kinda tight!
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Old 12-28-2014, 03:11 AM
 
10,746 posts, read 25,944,054 times
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Quote:
Originally Posted by lae60 View Post
yes, I will be selling my current house and using the equity from that to pay for the remodel, paying off the mortgage of the retirement house, and have some left over.

Most of my $ is tied up in the house I currently live in.

Don't count your chickens before they hatch. It sounds like you're robbing Peter to pay Paul and that hardly ever works out.

Pet friendly hotels won't tolerate your 6 animals for more than one or two nights. Extended hotels wont' take them either and you'll be hard pressed to find a landlord that would take them as well.

Good luck and keep us posted
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Old 12-28-2014, 04:49 AM
 
5,291 posts, read 5,216,211 times
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Originally Posted by lae60 View Post
Cats do not stink if they are spayed / neutered they do not spray, and litter boxes are cleaned regularly
You have 5 cats, so of course you don't think they stink. I can walk in the cleanest house, and if they have a single cat, I will know it. Yes, they stink. Five cats? It will smell like a zoo.
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Old 12-28-2014, 05:10 AM
 
Location: Between Heaven And Hell.
13,572 posts, read 9,982,990 times
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Quote:
Originally Posted by lae60 View Post
like 5 cats and one dog (small wiener/chi cross)?

I am considering selling my home and renting for 2 years before I retire which frees up the equity in my home so I can fix my retirement home.

But I do not know if anyone would rent to someone with that many pets, and also 2 pre-teen kids. BTW, cats are inside only, liter trained, liter changed daily, etc. Never a smell. None of the pets destroy anything, just sleep in the sunshine coming in through the windows. Dog is calm, lazy, lap dog.

Excellent credit, nothing bad ever, 780-810. Stable job, 25+ years, income well over what is needed.

Have $, large deposit would not be a problem, or concern as I would get it back when I leave.

Would you?
The way I see people with pets, (and I've been one), is that they may be getting more pets, and one doesn't know yet what those pets would be like.

I visited a house just recently, and the tenant has two cats and a rabbit, all three indoors. The smell hit me at the front door.
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Old 12-28-2014, 07:31 AM
 
Location: The Triad
34,090 posts, read 82,716,942 times
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Quote:
Originally Posted by lae60 View Post
I will be selling my current house and using the equity from that to pay for the remodel,
paying off the mortgage of the retirement house, and have some left over.

Most of my $ is tied up in the house I currently live in.
If things are THIS tight then a retiree might be better advised to NOT buy at all.
At most, to limit a purchase to a very modest property in a very low COL area.
Many would advise ONLY renting (in some low COL area) and investing the CASH for income.

You also mentioned having having TWO younger kids in the household.
If they are YOUR responsibility then you may not even be ready to retire yet.
And it's also important to consider lower school quality issues in low COL areas.

Seriously consider these points and discuss them with a qualified financial planner.
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Old 12-28-2014, 03:38 PM
 
Location: Tennessee at last!
1,884 posts, read 3,021,807 times
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Quote:
Originally Posted by MrRational View Post
If things are THIS tight then a retiree might be better advised to NOT buy at all.
At most, to limit a purchase to a very modest property in a very low COL area.
Many would advise ONLY renting (in some low COL area) and investing the CASH for income.

You also mentioned having having TWO younger kids in the household.
If they are YOUR responsibility then you may not even be ready to retire yet.
And it's also important to consider lower school quality issues in low COL areas.

Seriously consider these points and discuss them with a qualified financial planner.

Actually the retirement house is already purchased. It is not modest, but a little above average in size and price for the location. It is a low cost of living area and the schools are not the greatest. However, since my kids have been homeschooled it really does not matter what the schools are like, they can continue with the homeschooling. Our local schools are pretty bad which is why they are homeschooled now.

I do not need to invest the cash from selling my home for income. I have a very nice retirement income, which has been planned and developed over 27 + years: pension, social security, plan similar to an IRA.


The plan is to eliminate one house in an area that is no longer desirable to me and use that money to fix up the other home and pay off that mortgage. By chance, based on the retirement house I bought and the equity in the home I am selling there will be left over $.

The kids are totally my responsibility. They are adopted as are my two other kids who are 30 and 32 years old There is plenty of money to care for them and send them to college if they so desire. As it stands now, they want to be a chef and auto mechanic, so it is looking more like trade school and helping set them up in a business after they have work experience. That too has been planned for several years.

I actually have the finances well in order. Finances are not tight or are they unplanned. The planning is pretty clear--sell the house that will not be used once I retire and use that equity to fix up the retirement home and pay off that mortgage. That has been the plan for 2 years.

Just trying to see if it would be possible to rent for the last 8 months before I retire, and have had several good pms from this post with information about finding places to rent that allow pets--lots of pets.

Different subject, but we have taken our pets on vacation, and have not had issues with pet friendly hotels, and since we bring a small handheld vacuum and vacuum up before we leave each day have even had compliments from the maids that our rooms are easy and clean. Never had a problem when traveling with our pets. But from the comments from the maids, I guess that many pet owners leave an extra mess...which is wrong.
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