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re: Dream retirement housing split

Posted on 8/7/18 at 6:35 am to
Posted by soccerfüt
Location: A Series of Tubes
Member since May 2013
76148 posts
Posted on 8/7/18 at 6:35 am to
Summer in Central BR

Winter in Detroit

Save dat cash and probably won’t have to do that particularly long.
Posted by member12
Bob's Country Bunker
Member since May 2008
33146 posts
Posted on 8/7/18 at 6:36 am to
Chicago north side near the lake for the summer.

Clearwater/Largo for the winter.
Posted by DirtyMikeandtheBoys
Member since May 2011
19467 posts
Posted on 8/7/18 at 8:39 am to
What is your budget?

Mountain Options:
1. Jackson Hole - Simply the best
2. Telluride - Similar to Jhole, just less
3. Park City - pretty awesome being so close to a major US City (SLC is less than 40 min)

Beach Options (are you elite?):
1. South Hampton? Nantucket? Martha's Vineyard
2. Grayton, Seaside, Destin
Posted by Mr Wonderful
Love City
Member since Oct 2015
1045 posts
Posted on 8/7/18 at 8:52 am to
quote:

Branson MO Grand Isle LA


OP said “dream” retirement housing. Not “trashy” retirement housing.
Posted by Lithium
Member since Dec 2004
64385 posts
Posted on 8/7/18 at 8:55 am to
Links like Fairhope and Santa Fe for me
Posted by JetFuelTyga
Born in desert,raised in lion's den
Member since Feb 2016
1799 posts
Posted on 8/7/18 at 8:55 am to
Key West for winter and The Hamptons for the summer

ETA: Assuming US only destinations**
This post was edited on 8/7/18 at 8:56 am
Posted by VABuckeye
NOVA
Member since Dec 2007
38283 posts
Posted on 8/7/18 at 9:05 am to
Summer in Tuscany
Winter in St. John or the BVI
Posted by Popths
Baton Rouge
Member since Aug 2016
4548 posts
Posted on 8/7/18 at 9:21 am to
Hard to beat Asheville.
Posted by Tigeralum2008
Yankees Fan
Member since Apr 2012
17754 posts
Posted on 8/7/18 at 9:24 am to
TBH I'd probably buy one beach house in NC or Charleston.

Then AirBnB to a bunch of mountainous locations each year. Way too many beautiful spots to commit myself to two
Posted by Tigeralum2008
Yankees Fan
Member since Apr 2012
17754 posts
Posted on 8/7/18 at 9:25 am to
quote:

Hard to beat Asheville.



Not really. Check out Vermont, Colorado, Idaho, and Utah
Posted by AUjim
America
Member since Dec 2012
3835 posts
Posted on 8/7/18 at 9:27 am to
I legit think I want my retirement job to be on a mini-farm. Just maybe 10 acres with a few chickens and cows to take care of.
Posted by Jp1LSU
Fiji
Member since Oct 2005
2542 posts
Posted on 8/7/18 at 11:56 am to
G
quote:


Your plan has a fatal flaw. You are going to want to be using the houses in the locale when they are at their most desirable. Ain’t nobody wanting them in the off season.


Depends on how creative you are. We live in Key West Florida. We don’t plan on renting out our primary house. We rent out a place in Vermont year round, but eventually we’d like to rent it out during the school year and live in it during the summer. If you rent to college students you can use it during the summer. Eventually we’ll stop renting it out at all (after it’s mostly paid for).

Posted by ellishughtiger
70118
Member since Jul 2004
21182 posts
Posted on 8/7/18 at 11:58 am to
quote:

My father in law has about a perfect combo:

Primary on large lake in central TN
Ski in/ out in Jackson hole
Beachfront condo in So Wal


Congrats on marrying up
Posted by Jp1LSU
Fiji
Member since Oct 2005
2542 posts
Posted on 8/7/18 at 12:06 pm to
quote:

My father in law has about a perfect combo:

Primary on large lake in central TN
Ski in/ out in Jackson hole
Beachfront condo in So Wal

Personally, I wouldn't get a 3rd property unless you have a history of being there a lot. I'd get one place to "winter" or summer, and then live by your friends and family. Try as you may, vacation homes you simply don't have a local network really.


Three places are a lot. I have friends who have 3 and they haven’t been to the third place in like 4 years. Key West, Houston, Montana.
Even people that have two find themselves stretched a bit. Some friends of mine that split between KW and MD don’t come down as much now that they have grandkids in Seattle and MD.
You also take winter and summer vacations from where you live that time of year.
I think two is enough, but I couldn’t rent out both when I’m not there. One place has to be your “sacred” place where you keep all your private/personal stuff. A second home you can treat as a part time vacation home.
Posted by real turf fan
East Tennessee
Member since Dec 2016
12216 posts
Posted on 8/7/18 at 12:07 pm to
Summer: somewhere there's a college with a student body that don't want to rent through summer, so you get a great summer and they get to pay you through winter.

Longer place: take into account state taxes on your income and COL.

Sunrises or Sunsets make you happy?

Theater going, walks in the woods, which sports do you want to watch live?
Posted by Ash Williams
South of i-10
Member since May 2009
18563 posts
Posted on 8/7/18 at 12:09 pm to
Pick places that have airports and are easy to get to so that family can visit easily or so that you get get in and out quickly if need be
Posted by highcotton2
Alabama
Member since Feb 2010
10683 posts
Posted on 8/7/18 at 12:18 pm to
quote:

Daydreaming of planning for retirement.


Don’t know how old you are but you can take your IRA account and buy a house on the beach and have someone manage it for you as a rental and all rental income is deposited like an IRA contribution. That way you are using real estate for your IRA instead of the stock market. But you nor your immediate family can use this property until you retire.

I know several guys who did this with farm land in Kentucky and Illinois. They bought farms and use them for deer hunting. (Which they are not supposed to do).
Posted by brian_wilson
Member since Oct 2016
3581 posts
Posted on 8/7/18 at 12:34 pm to
I think a lot of people like the idea of splitting time and owning two places but it ends up being too much work in the end. Instead, they rent one / own one.

The wife wants to do 6 months denver / 6 months new orleans but she wants houses in both places. Sounds like a ginormous pain in the arse to me.

My preference is to buy a 2 bdrm condo in denver, and then travel all winter.
Posted by VABuckeye
NOVA
Member since Dec 2007
38283 posts
Posted on 8/7/18 at 12:43 pm to
Why not rent both? Then you can change the local at your whim.
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