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What is your House plan at retirement?
Posted on 2/22/15 at 5:32 pm
Posted on 2/22/15 at 5:32 pm
It's such an elementary question, but I am sure some of you have personal experience. All of this assumes your retirement saving goals were met.
1. Live in paid for home? except for prop taxes of course
2. Cash out, downsize into smaller home (paid for)
3. Cash out, downsize into rental?
4. Cash out, move in with kids?
1. Live in paid for home? except for prop taxes of course
2. Cash out, downsize into smaller home (paid for)
3. Cash out, downsize into rental?
4. Cash out, move in with kids?
10
Posted on 2/22/15 at 5:50 pm to Dodd
quote:
Live in paid for home? except for prop taxes of course
or
Sell everything and move to S.E. Asia where 70 year old men can still slay hot 22 year olds.
Posted on 2/22/15 at 5:56 pm to Dodd
Probably cash out and downsize.
Posted on 2/22/15 at 6:00 pm to Dodd
Current plan to live in my paid for home for a few years (it's already paid for).
Then, probably around 60 years old, look to downsize, maybe to one of those garden homes.
Then, probably around 60 years old, look to downsize, maybe to one of those garden homes.
Posted on 2/22/15 at 6:07 pm to Dodd
2. Cash out, downsize into smaller home (paid for)
I guess.
I guess.
Posted on 2/22/15 at 6:23 pm to Dodd
quote:
2. Cash out, downsize into smaller home (paid for)
Posted on 2/22/15 at 7:01 pm to WPBTiger
Live in our paid for house, and rent out our inlaws place 10 houses down when they pass.
Posted on 2/22/15 at 8:13 pm to Venelar
Live in the present home until 62-65-68 and then move to a Garden Home or condo where I don't have to worry about the exterior.
I'll realize enough from the residence sale to finance additional ongoing costs at the condo/garden home.
I'll realize enough from the residence sale to finance additional ongoing costs at the condo/garden home.
Posted on 2/22/15 at 8:42 pm to soccerfüt
Assuming interest rates aren't back to 18%? 
Posted on 2/22/15 at 8:45 pm to Dodd
The house is paid for, I'll move the money from the house sale into the new condo.
I'd hate to have a mortgage in my 60s.
I'd hate to have a mortgage in my 60s.
Posted on 2/22/15 at 8:49 pm to Dodd
Downsize into paid for home in a cheaper cost of living area.
Posted on 2/22/15 at 8:54 pm to Dodd
quote:
Assuming interest rates aren't back to 18%?
I sure hope they are, because at that time I plan to be selling money instead of buying it
Posted on 2/22/15 at 8:58 pm to kaaj24
Gotcha. I thought you were saying that you would traditionally "finance" a condo with proceeds.
Posted on 2/22/15 at 9:27 pm to Dodd
Option 1, live in a paid for home.
I Live in the country and enjoy farming and gardening have all of that here. Plan to do that until I can't if that day arrives will cash out and downsize but that will very difficult for me to do as I am very happy where I am.
I Live in the country and enjoy farming and gardening have all of that here. Plan to do that until I can't if that day arrives will cash out and downsize but that will very difficult for me to do as I am very happy where I am.
Posted on 2/22/15 at 10:56 pm to Da Hammer
My plan - live debt free in a paid for house or move to the farm.
My wife's plan - build a french country style mansion with a pool nextdoor to all the local millionares.
My boy is starting to question why I force him to be a select ball player in 3 sports.
My wife's plan - build a french country style mansion with a pool nextdoor to all the local millionares.
My boy is starting to question why I force him to be a select ball player in 3 sports.
Posted on 2/23/15 at 11:06 am to Dodd
Cash out/downsize is my plan around 47 or so. I should be close to retirement then and that hopefully will push me over the edge
Posted on 2/23/15 at 11:32 am to Dodd
quote:
1. Live in paid for home? except for prop taxes of course
Posted on 2/23/15 at 12:05 pm to Dodd
Upgrade. Use my rentals to pay new house note. If I have to bail and sell new retirement house I have a free and clear property as a safety net and its homestead exempt!!!!
Posted on 2/23/15 at 12:07 pm to soccerfüt
Yeah it's nice to have stuff paid off but if you have the Cashflow to pay a mortgage into your old age who GAF? Assuming you have enough for all other expenses and there's no added stress on you.
Posted on 2/23/15 at 12:18 pm to Dodd
Hoping to downsize, but to a house in the Florida Keys where I can just fish everyday. Don't know how possible that is, mostly because I would have to retire in my early 50's to really enjoy it, but one can hope.
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