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It sounds like quite a few people are happy staying where they are. We thought about moving to a lower COL area, but we're really concerned that we'll always wish we had gone back to California. Our property in Hawaii is now in escrow. We put it on the market and were ready for it to take about a year to sell since that has been the average time it takes here lately, but we got an offer in less than a week. So, now we're in shock and trying to decide where we're going from here.
Our daughters are moving back to the Bay area and want us to live near them. That is our number one choice, but housing is very expensive. We're giving it a second look and seeing if there is any way we can make this work. It's where we feel most at home and as quite a few of you have said you don't really want to move away from your home. We have moved away a few times and have always come back and almost immediately felt content in a way that we never do in other places. I don't want to move to a new place to retire and for the rest of my life feel out of place and missing home.
It sounds like quite a few people are happy staying where they are. We thought about moving to a lower COL area, but we're really concerned that we'll always wish we had gone back to California. Our property in Hawaii is now in escrow. We put it on the market and were ready for it to take about a year to sell since that has been the average time it takes here lately, but we got an offer in less than a week. So, now we're in shock and trying to decide where we're going from here.
Our daughters are moving back to the Bay area and want us to live near them. That is our number one choice, but housing is very expensive. We're giving it a second look and seeing if there is any way we can make this work. It's where we feel most at home and as quite a few of you have said you don't really want to move away from your home. We have moved away a few times and have always come back and almost immediately felt content in a way that we never do in other places. I don't want to move to a new place to retire and for the rest of my life feel out of place and missing home.
Isabella,
Live where you and your DH feel like it's "home," even if it's a tiny condo or apt. For many our age, leaving family can leave us feeling alone and isolated (I know there are many exceptions, but you have to know who you are). The fact that your daughters want you to live near them is wonderful. You will make it work! When do you have to leave your current house?
Our daughters are moving back to the Bay area and want us to live near them. That is our number one choice, but housing is very expensive. We're giving it a second look and seeing if there is any way we can make this work. It's where we feel most at home and as quite a few of you have said you don't really want to move away from your home. We have moved away a few times and have always come back and almost immediately felt content in a way that we never do in other places. I don't want to move to a new place to retire and for the rest of my life feel out of place and missing home.
You have done a good job of putting your finger on a very important intangible, one that more or less defies rational analysis. In seeking more affordable housing in the Bay Area, how far out could you live and still have that deep feeling of comfort and contentment? Suppose, for example, you lived an hour's drive from your daughters. Would that do it?
You have done a good job of putting your finger on a very important intangible, one that more or less defies rational analysis. In seeking more affordable housing in the Bay Area, how far out could you live and still have that deep feeling of comfort and contentment? Suppose, for example, you lived an hour's drive from your daughters. Would that do it?
Yes, it seems that a drive out of even 2 - 2.5 hours is reasonable, if you can find an affordable community within that distance. If you can find a place where you can do with only one vehicle, that too is a factor. I don't know about CA property taxes (though my sister and former MIL live there, more in upscale areas) but to me that is the figure you want to keep as low as possible. Then too, at our age, an apt. rental may make the most sense. I realized that moving to a place out of state (far away from where I am) would entail travel back to see family several times a year, and that cost balanced out whatever savings I could have in property taxes...so why move away from my family. I would make a spreadsheet of all the critical factors and costs between several alternatives and study them closely based on your needs and wants and mostly your age. What's on paper will give you an answer.
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I was quite impressed when visiting Danville in the east bay.... Near Livermore. Good services and close enough, but also far enough away to give you some 'breathing room'.
There are still opportunities for bargains on homes and rentals. (Congrats on selling your place).
If buying, I would be try to find a space with multiple residences for a current renter and a future caregiver. Renting has significant appeal until you have found your spot, or into the future; You can mitigate rent increases by owning your own income property in an area with good returns and potential growth opportunity. (that may not be California). If you have some income props in other states or other sources of income you need to shelter, you might want to make SD your domicile, (only requires one night / yr). CA will frown on that at tax time so would be best to appear to comply with their domicile rules as well.
Live where you and your DH feel like it's "home," even if it's a tiny condo or apt. For many our age, leaving family can leave us feeling alone and isolated (I know there are many exceptions, but you have to know who you are). The fact that your daughters want you to live near them is wonderful. You will make it work! When do you have to leave your current house?
Thanks NewEnglandGirl. I really think this is the right decision. We are very fortunate to have a great relationship with our daughters and so it would be a hardship on all of us if we lived far apart.
Our escrow is due to close mid December, but the buyer is willing to let us rent back for three months. So, that's very helpful.
You have done a good job of putting your finger on a very important intangible, one that more or less defies rational analysis. In seeking more affordable housing in the Bay Area, how far out could you live and still have that deep feeling of comfort and contentment? Suppose, for example, you lived an hour's drive from your daughters. Would that do it?
There are a number of places we consider home in the Bay area. We've lived in Santa Cruz, Sonoma, and Napa counties before and all are great places to live. Housing is expensive, but we're looking at everything from mobile homes and condos to single family homes in less wonderful neighborhoods (safe areas, but older, small homes). When you take into consideration the fees in mobile home parks and condos, a low-end single family home might be around the same overall cost. So, those are things we're investigating now.
Santa Cruz is about 2 1/2 hours from San Francisco, plus it's the most expensive of the three counties, so we're not looking there right now. Sonoma county is about an hour away from San Francisco, which would work. But, the most convenient areas are Napa and East Bay. There is a ferry to Vallejo, which is a 15 minute drive to Napa. We've never lived in East Bay, but we've heard that there are some nice areas that are more affordable. So, lots of research to do. Once escrow closes, then we can really begin our search.
Yes, it seems that a drive out of even 2 - 2.5 hours is reasonable, if you can find an affordable community within that distance. If you can find a place where you can do with only one vehicle, that too is a factor. I don't know about CA property taxes (though my sister and former MIL live there, more in upscale areas) but to me that is the figure you want to keep as low as possible. Then too, at our age, an apt. rental may make the most sense. I realized that moving to a place out of state (far away from where I am) would entail travel back to see family several times a year, and that cost balanced out whatever savings I could have in property taxes...so why move away from my family. I would make a spreadsheet of all the critical factors and costs between several alternatives and study them closely based on your needs and wants and mostly your age. What's on paper will give you an answer.
We have one vehicle now and we don't see any reason we would need two. When I retired I sold my car and find that it is much less expensive to have just the one vehicle and works out just fine.
California property taxes are about 1.25%. I've seen as low as 1.1% and as high as 2%. Property taxes are definitely one of our biggest concerns. At least we won't have the expense of traveling to see our family.
Although I'm not great with spreadsheets, I do plan to jot down the info for comparison. Thanks for the suggestion.
I was quite impressed when visiting Danville in the east bay.... Near Livermore. Good services and close enough, but also far enough away to give you some 'breathing room'.
There are still opportunities for bargains on homes and rentals. (Congrats on selling your place).
If buying, I would be try to find a space with multiple residences for a current renter and a future caregiver. Renting has significant appeal until you have found your spot, or into the future; You can mitigate rent increases by owning your own income property in an area with good returns and potential growth opportunity. (that may not be California). If you have some income props in other states or other sources of income you need to shelter, you might want to make SD your domicile, (only requires one night / yr). CA will frown on that at tax time so would be best to appear to comply with their domicile rules as well.
Thanks for the suggestion. I just checked out Danville and it's more expensive than the other areas we're considering. It's sounds nice though.
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When do you have to leave your current house?
