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I'm retiring sooner (in a matter of months). The two-year time frame comes in if I buy a house in this area for temporary use; you have to owner-occupy for that length of time to avoid CGT when you sell.
I don't think I've explained this very well. Told you it was complicated!
Well since you have this obligation then you must stay where you are once you retire until that obligation is fulfilled.
So just work on that. If I had 2 years or less to spend in one place I'd rent a house. If you have pets with "issues" then look for a home with tile floors.
Well since you have this obligation then you must stay where you are once you retire until that obligation is fulfilled.
So just work on that. If I had 2 years or less to spend in one place I'd rent a house. If you have pets with "issues" then look for a home with tile floors.
It's only as complicated as you make it.
I can honor this obligation (by not moving far away now) EITHER by staying in my current house in the small town in which I worked even after I retire OR by moving an hour plus change away where I'd have more of a life in early retirement, but also more stress and complications by virtue of moving: selling, buying, reselling, possibly renting it out. That's the basic question. Sorry if not made clear.
I can honor this obligation (by not moving far away now) EITHER by staying in my current house in the small town in which I worked even after I retire OR by moving an hour plus change away where I'd have more of a life in early retirement, but also more stress and complications by virtue of moving: selling, buying, reselling, possibly renting it out. That's the basic question. Sorry if not made clear.
Maybe this belongs in the real estate forum?
Just stay where you are until your obligation is filled. Then make your big move. That eliminates the stress and complications. Then just make the big move later on. Your big move will be stress enough.
Just stay where you are until your obligation is filled. Then make your big move. That eliminates the stress and complications. Then just make the big move later on. Your big move will be stress enough.
But it leaves me with "no life" in the meantime, especially after I've stopped working (and I've determined to stop working soon for various reasons). I'm weighing boredom and depression against stress and complications.
But it leaves me with "no life" in the meantime, especially after I've stopped working (and I've determined to stop working soon for various reasons). I'm weighing boredom and depression against stress and complications.
You stated that a more vibrant area is 1 hour away. So do that drive from where you live now.
How about you wait until you're actually retired and have time to breathe.. and really think about what you want to do instead of worrying about it now? You're putting so much pressure on yourself. Planning retirement looks a whole lot different sometimes after you actually do retire.
We obsessed over whether to stay or go, how to go about it, how to fix up the house for sale and when to sell etc. etc and were driving ourselves nuts. Then we finally came to the decision that not choosing to make a decision right now is a decision. We plan on taking one step at a time. We retired and we're fixing up the house and once that's done.. then we'll figure out what our next move will be.
You stated that a more vibrant area is 1 hour away. So do that drive from where you live now.
It's somewhat more than an hour. That's what I've done for years but, as I pointed out, the older I get, the more wearing the drive is. Also, I still miss out on many things (such as impromptu gatherings) living so far away, as I can't (or I won't) drive that far every day or for, say, a morning and evening event. By moving, I would be in the thick of it and be busy having fun most of every day whereas, currently, I can only participate infrequently. But that's one option. Missing out on a lot of things by living in a small town where I don't have much in common with anyone has been a source of great frustration to me and something I had looked forward to remedying in retirement.
A somewhat more than an hour. That's what I've done for years but, as I pointed out, the older I get, the more wearing the drive is. Also, I still miss out on many things (such as impromptu gatherings) living so far away, as I can't (or I won't) drive that far every day or for, say, a morning and evening event. By moving, I would be in the thick of it and be busy having fun most of every day whereas, currently, I can only participate infrequently. But that's one option. Missing out on a lot of things by living in a small town where I don't have much in common with anyone has been a source of great frustration to me and something I had looked forward to remedying in retirement.
Sounds like you really want to move. So move but rent. That would eliminate some stress of wanting to buy and the angst of staying 2 years and then worry about selling.
You just need to find the right place to rent with your pets.
And then renting frees you up to not have to worry about buying, selling, cap gains tax.
How about you wait until you're actually retired and have time to breathe.. and really think about what you want to do instead of worrying about it now? You're putting so much pressure on yourself. Planning retirement looks a whole lot different sometimes after you actually do retire.
We obsessed over whether to stay or go, how to go about it, how to fix up the house for sale and when to sell etc. etc and were driving ourselves nuts. Then we finally came to the decision that not choosing to make a decision right now is a decision. We plan on taking one step at a time. We retired and we're fixing up the house and once that's done.. then we'll figure out what our next move will be.
Actually, it's because I've found the property I would buy an hour or so away IF I were choosing that option, so I have to either go for it or risk never finding another in that location and at that price (values are rising).
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
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Life is pretty short, but I'd stay put for your obligation (if daily) and commute for recreation (occasionally). (Sound like driving is a potential burden)
Gives you more time to locate the correct destination.
Moving is not fun or cheap and you appear to not have a solid destination in place. If within 3 hrs, explore at your leisure. If further... take 3-4day weekends as possible.
Make a weighted spreadsheet and keep a log / journal. When visiting, explore the places / events you would normally utilize if living in that area.
Know ALL the costs.!!! (including, commute, moving, and future taxes)
I have had good results finding a nice view property with a shop and apartment, and utilizing that for a cheap 'home base' with storage. I can rent it out, use it, or resell it for gain (View props with acreage and shop are easy to sell).
If you do have that 'perfect place' and the stars have aligned... do what best suits your responsibilities, abilities, finances, and schedule.
For instance... If your current home is at peak value.... it might be wise to unload it in the next 1.5 yrs (before economy changes). You could continue to rent a small space near work / responsibility, and buy / build a place in nirvana. (that you could also rent PT). I keep 2+ separate living spaces at each location due to future care-giving needs (or needy kids returning home). Handy for guests as well, or for renting to temporary tenants.
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