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.
Not gloating nor carping but I have a hard time understanding how someone can have a mortgage in their 60s. Then again maybe that's the time you WANT to take out a 30 year one...
No mortgage. It's rather easy to do better than 3.2% money. If that doesn't work for you, what about a reverse mortgage? You keep the money and make no payments.
The main reson people as they aged have always move from rural areas is healthcare. Good medical care closeby can make a tremdous differnces in survival and recovery rates.
I have space above my office and think I could extend my working life by moving over the office. I would put in an elevator which is no problem space or price wise. Does anyone have any thoughts on this? Living and working in the same building? There is a lot of space up there, maybe 3000 square feet on two floors.
My wife and I are 54 and 57 and our daughter is married. I am in IT and my wife teaches. We have a very beautiful home that will not be paid off for at least 8 years and the mortgage is killing us. We are approaching the retirement age and do not have much saved up currently. I have just came off of a major surgery but can work from home but it dawned on me that maybe its a good time right now to consider selling this house even though the market is'nt that and hopefully have enough to move into a smaller home or condo with less utilies and responsibilities and a mortgage that if one of us loss our job could handle. Is this something that we should strongly consider at our current ages?
IMO, move while you physically are able! Don't wait till later years. Plus, all the elderly plus the boomers putting their homes on the market in the next 5 to 10 years, on top of more possible foreclosures and a flat economy, is only going to make selling harder after this year. It is true you will get "less" than a year or two ago, but you will get even "less" after this year!
There's as many right answers to these sorts of questions as there are people asking.
We want to snow bird spending November 1st to May 1st in southern Georgia then spend the summer months in Ohio. In Ohio I want a condo with a community swimming pool that would be welcoming to families and grandchildren. Grand kids can come over to grandmas and grandpas in the summer to go swimming while school is out. But as much as we love our family medical conditions make staying during the dead of winter an impossibility. Anything colder than 50 and grandma develops some very real physical problems and I get terribly depressed.
So we snowbird but for how long can we make the twice or more yearly 800 mile trips?
How bad is Georgia during the summer months? Why not stay indoors in a.c. in the summer, and send for the grandkids to come visit for a few weeks rather than make that long trip to Ohio? I traveled one hour by plane to see my sister last month and though I'm in fairly good shape the airport experience took a huge toll on me. I'm not one of those oldsters who can stomach travel, as much as I'd like to it gets to me (usually AFTER the trip). Not to mention the expense.
I have space above my office and think I could extend my working life by moving over the office. I would put in an elevator which is no problem space or price wise. Does anyone have any thoughts on this? Living and working in the same building? There is a lot of space up there, maybe 3000 square feet on two floors.
Wow, I'd do that in a heartbeat. It's no different than working out of an office in a house or apt. If you own the building, it's a no brainer!!! You could even put in a small efficiency apartment to rent out. Personally, at my age I love working at home, next to my dog and my kitchen for coffee breaks, and I can do a load of laundry every now and then.
Wow, I'd do that in a heartbeat. It's no different than working out of an office in a house or apt. If you own the building, it's a no brainer!!! You could even put in a small efficiency apartment to rent out. Personally, at my age I love working at home, next to my dog and my kitchen for coffee breaks, and I can do a load of laundry every now and then.
Thanks for the encouragement. I've never worked at home. I think it would be good.
It was two side by side two family row houses built in 1863 with the upstairs apartments having four rooms on the second floor and two rooms on the third floor. I took both sides of the first floor and took out the common wall in some places and use the whole first floor for my law office. So there are really about 12 rooms upstairs. And since each upstairs apartment has its own outside entrance and stairway, one could just be swapped out for an elevator. Here's a photo:
Last edited by Wilson513; 06-18-2012 at 10:03 AM..
Thanks, I'm struggling with this. The numbers work pretty well. The taxes and utilities at my residence are almost $2000 a month compared with about half that in the office even counting the additional space. And, I don't have a mortgage on the building.
I don't know if I am really concerned about the work/home as much as I am giving up a very lovely suburban lifestyle.
Here's the view out my bedroom window at home:
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.
It's rather easy to do better than 3.2% money. 
If that doesn't work for you, what about a reverse mortgage? You keep the money and make no payments. 
