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And how much did this wonderful place cost per month?
Usually to get in to one of these places, you have to sell yourhome, and from the proceeds give the place $120K - $200K or more, and then start paying a monthly cost of between hundreds and several thousand $ per month, depending on the amenities. How many can afford that??
I'm shooting for a maximum of $500 per month total cost which would include taxes and utilities to include heat, light, garbage pickup, cable television and internet access.
I think it could be done.
I don't play golf and don't even like it enough to want to invest in a set of Sears golf clubs. I've played but I could take it or leave it. On the plus side my wife will never be a golf widow.
Many of the places I've seen that I've described are centered around huge golf courses and running a golf course is not cheap. I got a feeling a large proportion of money spent in these communities go towards golf course upkeep but what about those that don't play?
One community I am familiar with just has to have over 50% of its land dedicated to golf.
And you are going to have to locate something like this outside the high tax states or those people are going to eat you alive.
This may work well for some of you, and if that's the case then go for it. But as for me, no thanks.
Granted I'm still pretty young (for a retiree) and I may think differently down the road if my health deteriorates, or if my finances become too strained. But I really don't want to live in a community where everyone is the same - same age, same income level, same house, etc. And I value my privacy too much to want to share my space, even if it's with perfectly nice people who I may be happy to socialize with on occasion. I just don't want to live with them. I prefer a diverse community with young families and older retirees and everything in between; people with different income levels, different religions, different cultures, etc.
Given my preferences I would like to retire to a cottage on Sea Island, Georgia but we're talking on a shoestring here.
In my mind a shoestring is <$1,500 per month. What about people with $900 or $1,000?
I would have to think four people living on $3,600 a month have to live better than one person on $900 by splitting general fixed overhead costs of living. Internet access for example. Something we all want but why pay $60 per month when the bill can be split four ways for four people?
As far as "living together" nothing epitomizes "living together" more than Unit #243 of the HUD subsidized apartment for the elderly. Someone below you, on both sides and on top spooks me out. I would live anywhere, anyway before I lived in Unit #243.
....As far as "living together" nothing epitomizes "living together" more than Unit #243 of the HUD subsidized apartment for the elderly. Someone below you, on both sides and on top spooks me out. I would live anywhere, anyway before I lived in Unit #243.
Agree wholeheartedly. I only mentioned the senior apartment idea as an option for people who are looking for something akin to communal living. I may be there one day, but certainly not yet. In fact, I currently live in an end-of-group townhome, and that's too close for comfort for me. If all goes as planned, I hope one day soon to be in a one level single family home on a quarter acre that I can buy with the equity in my house, and then not have a mortgage to pay.
A shoestring budget varies depending on the area and your individual circumstances. I consider myself on a shoestring budget even though my pension may be higher than what you might consider to be a shoestring budget where you are. If there is little or nothing left over after paying for housing, utilities, food, transportation and health care, then that's a shoestring in my book. But, if I can relocate and cut down significantly on what I currently pay for those necessities, that same income may even be somewhat generous. Guess if and when that happens I'll have to drop out of this thread.
I live in an older condo community that I really enjoy. We've got all ages and economic levels -- owners and renters -- and nationalities. I feel safer having people above and below me. Being old and well-built brick I don't hear them. The condos are built down the side of a ridge so when I look out my windows I see my gardens in the front and then the wood retaining wall and in the back I've got tree tops. The units behind me are at the bottom of the ridge so I just see the tops of their second story.
I owned a house in the D.C. suburbs and got robbed a lot. That made me gun-shy about being off by my own.
I'd love a single home with a big garden but my knees just aren't able to handle it anymore. Here, I've got lots of grass and big trees that I don't have to do anything about. Plus I've got room in front and back for gardening in barrels and for water gardens.
I don't have to worry about roofing and painting the outside. Being in the South, the younger residents are always willing to help out if I need trash taken out or help doing something. That's really nice. And I feel safe because there is always someone out walking a dog or coming home from class or work.
It's a good compromise that fits where I am in my life.
Last edited by knoxgarden; 06-28-2009 at 01:57 PM..
I live in an older condo community that I really enjoy. We've got all ages and economic levels -- owners and renters -- and nationalities. I feel safer having people above and below me. Being old and well-built brick I don't hear them. The condos are built down the side of a ridge so when I look out my windows I see my gardens in the front and then the wood retaining wall and in the back I've got tree tops. The units behind me are at the bottom of the ridge so I just see the tops of their second story.
I owned a house in the D.C. suburbs and got robbed a lot. That made me gun-shy about being off by my own.
I'd love a single home with a big garden but my knees just aren't able to handle it anymore. Here, I've got lots of grass and big trees that I don't have to do anything about. Plus I've got room in front and back for gardening in barrels and for water gardens.
I don't have to worry about roofing and painting the outside. Being in the South, the younger residents are always willing to help out if I need trash taken out or help doing something. That's really nice. And I feel safe because there is always someone out walking a dog or coming home from class or work.
It's a good compromise that fits where I am in my life.
That actually sounds really nice knoxgarden. Maybe the secret is in finding something that is really well-built and sound-proofed like your place. I can see where the upkeep of a single family home might get to be too much for me at some point.
What about the condo fees though? I worry that they would rise higher than my COLA pension, and one day get to the point that they became a hardship.
I live in an older condo community that I really enjoy. We've got all ages and economic levels -- owners and renters -- and nationalities. I feel safer having people above and below me. Being old and well-built brick I don't hear them. The condos are built down the side of a ridge so when I look out my windows I see my gardens in the front and then the wood retaining wall and in the back I've got tree tops. The units behind me are at the bottom of the ridge so I just see the tops of their second story.
I owned a house in the D.C. suburbs and got robbed a lot. That made me gun-shy about being off by my own.
I'd love a single home with a big garden but my knees just aren't able to handle it anymore. Here, I've got lots of grass and big trees that I don't have to do anything about. Plus I've got room in front and back for gardening in barrels and for water gardens.
I don't have to worry about roofing and painting the outside. Being in the South, the younger residents are always willing to help out if I need trash taken out or help doing something. That's really nice. And I feel safe because there is always someone out walking a dog or coming home from class or work.
It's a good compromise that fits where I am in my life.
This sounds like a really good situation. It's nice to have some privacy and have people around also. What are your approximate monthly expenses including your mortgage? If you bought your condo outright after the sale of your house, then for the rest of us, we would have to factor in rent, etc., for those of us who are not homeowners. Thanks in advance!
I have not lived in an apartment for about 30 years. I have never lived in a condominium, either one floor or a townhouse. However, I did live in a Coop in NYC for a time with the requisite doorman. I now live in a small ranch. If I moved I would not go into any multiple floor housing, like a town home because of the steps.
I have been exploring senior residences that are built, apartment style, on one floor. I think the high rise are the best because they are better structurally, steel and concrete, vs. wood construction. They are also have better soundproofing. A single high rise is much more secure than individual buildings. I like those with meeting rooms and nice lobby on the first level. In addition,underground parking is better security. I think many of those run by religious based organizations are some of the nicest. I see many of these high rise senior housing near hospitals, which makes good sense.
I think the problems with seniors in some HUD housing is over exaggerated. Even, if they are subsidized housing. I lived in College Dorms that had more problems with those young monkeys, pretending to be students. Army barrack housing was no ritz, either. So, I think I may have some tolerance. I have visited some of the highrises and they do have a certain feeling that reminds me of living in New York City or even a better class hotel.
The only problem that I see that bothers me is many of the older housing units do not have washer/dryer hookups. Shared laundry rooms is something I have not done in many, many years. I have found some small portable washer/dryer units that are designed to be hooked to the sink--but they are small.
I agree with another poster, I would avoid golf courses, because of the maintenance expense. The same would go for pools, tennis courts or any other extraneous facilities. A little ground around the complex is nice but if it is near a park and on a bus route in a walkable neighborhood--that is all I need.
With all the buget deficits in place today, all over the country, I'd be leery of moving anywhere today, banking on things staying the same when I'm due to retire. Anything can happen to close those budget deficits. I suggest lots of caution before making your move.
With all the buget deficits in place today, all over the country, I'd be leery of moving anywhere today, banking on things staying the same when I'm due to retire. Anything can happen to close those budget deficits. I suggest lots of caution before making your move.
I totally agree. I moved to Mpls last summer for a job at the University of MN. I thought it would be a good way to transition to retirement, etc. Work a couple years and then retire. Turned out to be a very dismal job situation, not tenable at all (this was admin, not teaching). I worked in a totally isolated situation for an SOB, who of course, showed his true management style after I moved out here. And, to make matters worse, I was stuck in a 12 month lease until this summer in a costly city. So I had to do some part-time work to make ends meet until now, when I can bail out of the apartment and move back to MI, where at least, I can rent an apartment for far less than in Mpls and where the cost of living is much more reasonable. Plus, I have friends in MI, having lived there for 20 years. So, moving for eventual retirement to a new place doesn't always work out. I will be very careful before making another move, which is costly.
As I read these threads during the last couple years, and in particular after the economic meltdown of 2008 in terms of retirement nest eggs, etc., I'm thinking that many people are looking for the same thing, especially single women, looking to retire to an affordable place with reasonable amenities (close to grocery stores, medical care, some cultural opportunities, etc) that has a good climate (not extreme) and is safe. Ideally, public transportation is good in this ideal location. Finding one place with all of this will be hard, and I like the option of sharing fixed costs, maybe a rental that is shared. So many of the fixed costs can be shared such as rent, internet, utilities, transportation (maybe one car shared by several people).
Personally, I think many of us will need to think in terms of sharing accommodations in later life, for the companionship and for the financial realities that we all will face. Many of us were decimated in 2008 financially and there isn't time to recover the losses before retirement.
I'm encouraged by these threads and that women are starting to be more flexible on living arrangements for later life, as an alternative to assisted living. None of us wants to live in an undignified situation and one that is a rip-off. And many of us do not want to live in a golf-centered community with high costs and hot, humid weather (Florida, for example). Compromises will need to be made, but affordable living is key.
I, for one, am tired of the isolation of living alone in small apartments. I am moving back to MI to a high rise where I lived for a number of years before moving to Mpls for the last year. At least in the high rise situation, there are a lot of people around all the time, so one does not feel so isolated. I plan to stay a couple years and look for part-time work and start collecting SS in 2 years at age 62. At that point, I will move to a more permanent retirement location and I haven't ruled out Mexico (San Miguel).
Well, my main point is that there are a lot of retirees and soon to be retirees looking for the same things for the "golden" years. Affordability and safety are key for single women, coupled with climate issues, etc. There has to be an alternative to golf-centered communities and to expensive over 55 living communities. Not everyone is a homeowner, so there need to be options for renters.
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Many of us are looking for the same things...
