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Having returned from my dream town and great ranch vacation three hours away... my firm resolve to forget about living there crumbled.
I spent a lot of time on my vacation thinking, trying very hard to get to the bottom of feelings, etc. I realize, at least for me, the retirement place/style decision is mostly emotional, not weather/taxes and I am in a position of leaving no family people and few friends (the latter moving themselves in retirement).
While I can afford to retire here outside Boston, many people I know do or plan to leave for better winters and cheaper living.
I put an offer in on a town building lot in the town of my heart. It will likely be turned down and the property is currently off the market for the seller's preferences in its disposition. Fortunately there are same-sized lots (in better shape for $10k more) right across the street, so if I don't get the first lot, I will happily offer across the street and am willing to pay the price. I hear those owners might well be flexible and ready to sell, and I will offer in the dead of winter (when tourists aren't indulging daydreams!) and when it is a new tax year for the financial movements I will be making.
So. I plan to take my pension out at age 65 (two years and seven months away) and continue working, but get on with building the retirement house then. At 66 (spring of 2019) I will take my Soc. Security FRA and move out West in the spring to enjoy the better summer weather, while I sell my house back East and that will be my security money. I will have to carry both expenses until the new house is built and the old house is sold.
I found more than one great volunteer opportunities in the new town, and already made friends. It is not all townies, and it seems there are many (relatively speaking) retirees who chose that area from elsewhere. I had a couple of fortuitous encounters (including a realtor) that, while I don't believe in "signs", were certainly in the right place at the right time.
I realize that my biggest issue is giving up my security (the ability to make money until I am ancient) and my love of my current house. While my current town is very pleasant, I have never felt a part of things, and noticed that retirees are largely (completely) from here, whereas other people come in for working years and kid-raising, and then leave. The kicker was my healthcare proxy, friend of 30 years, leaving the town (after a coincidental parallel of life of living in the city, then working in the same place, then living three streets apart) and he retired to Kentucky for many reasons.
When I leave, if all goes well, I will have been in my wonderful house for some 18 years. I never wanted life to be about a house, but the real estate wars and trying to get a decent place to live around Boston had become so much a part of life that I want to curl up in this place, which works so well as a place and I can manage it in retirement.
I never wanted to be driven by fears and realized that had happened in my desire to curl up in said house!
Of course, anything could go wrong. If it does, I can certainly do worse than curling up in my house and financial security! But I keep telling myself as I take steps to move West in some three+ years, "I can do this. I can do this."
Full disclosure - I'm not a fan of the Boston area at all. But from what you wrote, seems to me you ought to go on and move West if you can swing it.
Maybe you can find an existing home to buy, that's "close enough" and you can move in more or less immediately? The one place I can see you having trouble is the time you have to pay for both houses.
You might talk with a real estate agent there locally and see what they think would make your existing house more marketable. That won't commit you to anything.
Thank you, but my existing house is totally marketable and I am not leaving my job for at least three years! My plan to move West is really a retirement plan. Even if I could find an existing home that I could afford/wanted (no small feat) I am not moving until I retire and the most earliest possible time for that is two years and seven months away
My town of heart is Ridgway, CO. I have vacationed there since 1988, bought and sold lots (one with a house) well outside of town- daydreams- and realize I am an in-town person. I rarely, if ever, see a small enough house to interest me. It's why I had to build one outside Boston (tearing down a lake-area crumbling cottage) and why I look forward to building one perfectly suited for the in-town lots I am considering in Ridgway.
My only realistic concern is increasing my car dependence in retirement life and distance from medical care. I have no particular conditions that require care at present, nor any need of the medical mecca that the Boston area is. The Montrose Hospital and Cancer Center are 25 miles from Ridgway, and then further on is Grand Junction. Otherwise, it's Salt Lake City or Denver. It is a major reason I didn't consider retiring to Ridgway before, but have realized I don't want to live the rest of my life based on fear of bizarre illness.
Thank you for your well wishing. I have appreciated feedback.
I see no problem with the plan and following our dreams at our age is, imo, a must. BDL, you have probably already checked out the amenities for seniors out there, including senior van service for when you're ancient, as well as LTC facilities, since this most likely is where you'll spend the rest of your life. It should be exciting seeing another one of your homes being built. Have you thought of building a replica of your current home, which you seem to love?
My current home was designed by an artist, not an architect, and I wouldn't want to try and build it again! Way too expensive- it was just before I got enough memory on my computer to realize that you could find plans online.
I have found a smaller (720 sq.ft.) plan that has the same kind of front window wall that I really like. It actually is more the small, open layout that I tried for in my current home. (Ended up with an upstairs that was more than I wanted, but thinking of resale). The new lot (assuming I get one) is 50x142, and the next house needs to fit more narrowly. I'm sure I can build another house that I'll love in the new place.
I am leaving the CCRC in Vermont as a backup plan should I become ancient and unable to live in the town. I'm visiting it in a few weeks to check it out. I realize that one big appeal of the Vermont place is the possibility of real community, and that is part of the appeal of my Colorado plan.
I think there will always be people available for hire for things I cannot do or don't want to do, including driving some distance, etc. The senior center always has ads and business cards for people to help, including Ridgway's. I don't have any illusions about being majorly compromised in a small mountain town but do not seem to accept making a plan for the rest of my life based on that possibility.
BDL I concur with moving. My choice would not be CO but I understand as I am in the very same boat in that living here into retirement would become prohibitive and not to my chosing. I used to laugh and tell DW that I hope she enjoys her southern retreat then reality hit and I realized that I didnt want to live here as much as I used to. I am a hardy person and my wife calls me her personal heater and I still want out. So like you I have a few more years of sticking it out. We will have an adventure or two then we can settle into our new home wherever that may be.
Oh BTW Boston and areas west are a beautiful and a wonderful place to raise a family. We have the best sports teams in professional sports. The job market is not bad so we are leaving behind some fabulous memories when we do leave.
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
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Good choice! (I still love CO, tho been gone for 32+ yrs, I am OK to visit often (and keep business interested there).. Ridgway is mighty fine!
Do consider a multiple 'tenant / boarder' dwelling if possible... space for a 'future' caregiver / income / someone to watch over the places while you are gone. It is essential for me since I have high property taxes and rural places with livestock / pets / plants that need daily care.
I have been VERY fortunate to find 'tenants' that love the views / peace and quiet and are more than willing and eager to help with tasks (ex-farm kids). They are very grateful for the opportunity to share the space and they let me know this frequently. (They have their own private entrance and space). They are VERY talented in helpful in caring for the places and me too! (share occasional meals / garden veggies / special treats). They are able to utilize my space for guests when I am gone, and I do the same. Direct deposit rents and NO hassles!
Build the CO home VERY energy independent. I have done passive solar for 40+ yrs, NO extra costs, but NICE living space. I kinda like these, for FAST and efficient, http://www.realpeoplehomes.com/
The next home I am building is going to be 'rammed-earth'. (retirement cottage in Hill Country, TX). It will be earth sheltered to preserve the view of my neighbors. I am struggling to add 2 living spaces to this one, but I bought the small homes on each side (1 acre each), so I could use one of them to house a caregiver. Currently they rent for 1% of purchase price (~10% net return).
Our kids each build mtn cottages with garage / shop in basement. They were modeled after Swiss chalets we lived in. Access to both floors from ground level since they were on a hillside. For elderly, it is really nice to place a carport at deck level so you can get in and out with a walker. It can be as simple as a rear 'porch' that has driveway access. We do this with mobile homes to help elderly who need to convalesce. (Construct a raised driveway & carport adjacent to sliding glass door on mobile home).
Last edited by StealthRabbit; 09-15-2015 at 11:59 AM..
Actually the lot I'm eyeing has an ADU allowance, however, the house must be owner-occupied and the ADU must be a direct family member, so no go.
I have followed Stealth's stories of multiple dwellings and how he manages it all and I am not of a temperament to begin to try! I just want to move to a house of my liking (and building, and yes energy efficient up at 7,000 feet) and sell my current house and keep things simple. I have long not been up for a "complication" factor, even if that costs me money. I have learned this the hard way (by trying to be complicated).
In light of complications, I just decided not to get a home eq line of credit on current house for the land and instead will croak a chunk of my 403b when the purchase comes. I'll have to pay taxes on it sooner or later and I'm not relying on it for retirement. It's a backup emergency fund and a whole lot simpler to get at than the home eq line of credit (paperwork just arrived and said all was due TODAY, then got lost on hold with the credit union).
Usually Pentagon Federal CU is very good but not this time. Inefficient, anyway. I don't like complicated stuff.
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