I will be 70 in a couple of months and Wife Is 68. We live in a nice brick home of 3400 square feet on 2.2 acres. It is becoming to much for us, especially the yard work. We are thinking of downsizing to something smaller without any outside yard upkeep. We realize things will be much different than they are now, but think now may be the time to go for it. I would like to hear from any of you that have done this or know someone that has. Thanks
Thinking about Condo or townhouse
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Association and/or maintenance fees can sometimes eat you alive. Also be very careful for all the little rules that you might have to follow.
My wife and I are approaching 60 so we have discussed this. We feel it is better to live on a small house property and when the time comes, pay someone for yard work than to pay the big HOA fees.
Stay where you are, pay a landscaper to cut the grass.
Originally Posted by Mr Nice
Stay where you are, pay a landscaper to cut the grass.
+1 on that.
Stay where you are, pay a landscaper to cut the grass.
+1 on that.
4WD
$50 site donor 2024
We have a condo that's not a primary residence. Read the fine print in advance. For the fee … and even though it goes up … we have been lucky if they do more than scalp our grass. Any repairs or improvements is "we need this much and need it now" … and you have to like your new fence stained this color. (never stain fences myself). You are inches from neighbors and park with them too.
I'd probably consider a smaller home with smaller yard first …
I'd probably consider a smaller home with smaller yard first …
Originally Posted by xxch4osxx
Originally Posted by Mr Nice
Stay where you are, pay a landscaper to cut the grass.
+1 on that.
Agree! A friend made the same mistake, couldnot stand having no control of his own property, yet having to pay regardless.
Originally Posted by Mr Nice
Stay where you are, pay a landscaper to cut the grass.
+1 on that.
Agree! A friend made the same mistake, couldnot stand having no control of his own property, yet having to pay regardless.
I think you would be better off to stay where your are. Where you are at, you have some degree of privacy. You never know what kind of neighbors you will have in a condo or townhouse setting. You can hire out your yard work, where you are. As far as house keeping, a robotic vacuum is a big help.
The question does not have a simple answer but a few things do stand out. A large house on over 2 acres is a lot of work. If this was on a standard size city lot then the argument for staying would be something to consider.
How much are property taxes? That could be big factor as well.
I do like the idea of downsizing later in life, especially if it's a burden to keep up with a bigger house and property. In fact, I've done exactly that.
How much are property taxes? That could be big factor as well.
I do like the idea of downsizing later in life, especially if it's a burden to keep up with a bigger house and property. In fact, I've done exactly that.
My sister is an attorney and she does tons of business dealing with condo and homeowners associations.... too many fights, lawsuits and headaches. Easy cash cow for her.
4WD has a good idea, downsize to a smaller home without an HOA. That way you still have your privacy, peace and quiet. You can still pay a landscaper to do your yard.
4WD has a good idea, downsize to a smaller home without an HOA. That way you still have your privacy, peace and quiet. You can still pay a landscaper to do your yard.
Are you willing to live in a condo after your single home with land?
Are there financial advantages?
I suggest being realistic as to what you can do, what you would like to do and what you have to do.
Regardless, it sounds like you and your wife have better options than many.
Good luck.
Are there financial advantages?
I suggest being realistic as to what you can do, what you would like to do and what you have to do.
Regardless, it sounds like you and your wife have better options than many.
Good luck.
3,400 sq ft is a huge house for 2 people. A condo/townhouse makes a lot of sense, and not having to worry about hiring people to do exterior maintenance or repairs is a huge advantage. Find something with no steps as well.
We retired 2 years ago (I'm 57 and my wife is 56). In addition to our home we bought a condo on the coast in Orange Beach. We love going there, but we spend very little time in the condo-most of our time is on the beach). If I had to live in the condo full time I might be able to do it since it's on the beach. If it were not directly on the beach I couldn't stand to live in a condo.
Originally Posted by odotb
3400 square feet on 2.2 acres. It is becoming to much for us, especially the yard work........ thinking of downsizing to something smaller without any outside yard upkeep.
Health and the ability to be self sufficient are huge factors that are different for everyone. It's hard to give advice without knowing all the details. The people I know in condo's or townhomes have the challenge (not a deal killer) mentioned above: questionable neighbors that change every few years. Is a smaller home with nearly maintenance free exterior and landscaping an option for you? I watched my mom move to a retirement type community for a few years and now is in an assisted living complex.
Wishing the best to you and your wife.
3400 square feet on 2.2 acres. It is becoming to much for us, especially the yard work........ thinking of downsizing to something smaller without any outside yard upkeep.
Health and the ability to be self sufficient are huge factors that are different for everyone. It's hard to give advice without knowing all the details. The people I know in condo's or townhomes have the challenge (not a deal killer) mentioned above: questionable neighbors that change every few years. Is a smaller home with nearly maintenance free exterior and landscaping an option for you? I watched my mom move to a retirement type community for a few years and now is in an assisted living complex.
Wishing the best to you and your wife.
As a real estate broker, I see this all the time. As people get older, it's harder to get up the stairs, plus a certain size requires maintenance and heating/cooling costs are also tied to the the square footage of the property.
There's a certain amount of people on here who hate condos. I don't run into as many people in real life. You just have to know what you're getting into. You always get a copy of the condo budget and rules/regulations, so you can examine them for yourself. I think what many people on here don't get is that the HOA fees are fees that you would pay yourself if you lived in a single family. Things like heating, hot water, maintenance, insurance, water/sewer, reserves. Those are all in the budget. I've seen a lot and basically it usually works out to about $50 a month per unit for a management company to handle the books and take care of things. The place where you can run into problems with an HOA would be a small one where you would have to get along with your neighbors. In a larger HOA, they're usually professionally managed and tend to have less issues.
Remember, just like driving where you just hear of those spectacular car crashes, condos are the same thing, many people buy them with no issues. People on here like to go on and on about the horror stories and take the exception for the rule.
There's a certain amount of people on here who hate condos. I don't run into as many people in real life. You just have to know what you're getting into. You always get a copy of the condo budget and rules/regulations, so you can examine them for yourself. I think what many people on here don't get is that the HOA fees are fees that you would pay yourself if you lived in a single family. Things like heating, hot water, maintenance, insurance, water/sewer, reserves. Those are all in the budget. I've seen a lot and basically it usually works out to about $50 a month per unit for a management company to handle the books and take care of things. The place where you can run into problems with an HOA would be a small one where you would have to get along with your neighbors. In a larger HOA, they're usually professionally managed and tend to have less issues.
Remember, just like driving where you just hear of those spectacular car crashes, condos are the same thing, many people buy them with no issues. People on here like to go on and on about the horror stories and take the exception for the rule.
most small condos have upstairs master bedrooms- bad for old people- like me.
Originally Posted by edwardh1
most small condos have upstairs master bedrooms- bad for old people- like me.
Which is why lots of old people look for single level condos in an elevator building. No stairs. Elevator maintenance is expensive though, it's usually a decent amount in the condo fee. Special assessments usually pop up when they need an overhaul.
most small condos have upstairs master bedrooms- bad for old people- like me.
Which is why lots of old people look for single level condos in an elevator building. No stairs. Elevator maintenance is expensive though, it's usually a decent amount in the condo fee. Special assessments usually pop up when they need an overhaul.
My parents moved into a house in a senior living facility that had all the necessary amenities on the first floor and loved it. They did pay monthly dues for lawn maintenance and had the option to move into the larger multi story building that had varying levels of care.
Senior living facilities certainly can run the gamut as far as level of care, etc. You have the opportunity to investigate them before you " have" to move.
I commend you on your foresight and planning. This is not a pleasant topic but we will all be there someday and the ones who refuse to face it until there is a life changing event may not have the time nor proper frame of mind to gather the necessary facts to make an informed decision.
Your doing this yourself is an act of love for whoever may be eventually caring for you.
I think the advice given so far is all good and deserves consideration.
Senior living facilities certainly can run the gamut as far as level of care, etc. You have the opportunity to investigate them before you " have" to move.
I commend you on your foresight and planning. This is not a pleasant topic but we will all be there someday and the ones who refuse to face it until there is a life changing event may not have the time nor proper frame of mind to gather the necessary facts to make an informed decision.
Your doing this yourself is an act of love for whoever may be eventually caring for you.
I think the advice given so far is all good and deserves consideration.
The condo board can be ok to a nightmare depending on the personalities. A cleaning person and a gardener make a lot of the condo pluses go away. I bet you don't hear music through the walls on your 2 acres and have to report it to the board of difficult personalities. The other negative is assessments.
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