Retiring in a lower-priced town? (Boston, Lowell: cul-de-sac, real estate market, rent) - Massachusetts (MA) - City-Data Forum

Strannik33 · 09-22-2021, 09:01 PM

I've been reading CD posts for years and, finally, here is my first post here. We are debating whether to retire in a lower-priced MA town or not. We've been living in an upscale Metrowest town for three decades. I am now retired and my wife will be in 4-5 years. She's working from home. We also have a millennial son living with us, who is also working from home but may have to start commuting to the South Station area again soon using public transportation.

We are still living in a starter-type house (raised ranch, c. 1970s), which is now becoming universally shabby, although we have recently replaced some major components (central air, doors, windows, roof.) The location is fantastic: We are at the end or a cul-de-sac abutting a forest, yet still close to town.

For years, we have toyed with the idea of moving out to a lower-priced town in MA, once we no longer needed the schools. We have also dreamed about living in a nice new (or at least newer) house with taller ceilings, large closets, fancy kitchen. Perhaps now is the time to do it. The alternative is to continue the renovations (we figure, we'd need about $100K to redo the kitchen, front steps and walls, repaint the inside, etc.). With the crazy RE market, we keep receiving invitations from builders to sell the house, and one RE agent has been relentless in advising us to sell as-is and avoid the hassles of further renovations. For now, we prefer to stay in MA, mainly because of its healthcare, but another possibility might be to move out of state (I keep researching where, churning over hundreds of lists . . . so far, nothing obvious.)

So the question is simple: Do you know someone personally who has moved from a nice overpriced town to a better area of a less-expensive but more remote town? If yes, was the move successful, or do they have regrets? Our former neighbors have done it and regret it greatly. Is this representative?

GeoffD · 09-23-2021, 04:21 AM

I owned a big house on an acre up on the hill between the boat club and the country club in Winchester and then lived in a house with a boat dock in Portsmouth NH. I did the retirement math and moved back to my home town in South Dartmouth. My census tract is Boston-like with more than 50% college educated and 6 figure household income but the town is more socioeconomically mixed and New Bedford next door is an intellectual wasteland. UMass Dartmouth is in town so there are some academics in town beyond the usual physicians and attorneys you’d find anywhere. The beach is a mile. The boat slip is 0.7 miles. Lots of green space. Boston is an hour off-hours. Providence is 35 minutes. Commuter rail shows up in 2 years. It’s a backwater but you’re not totally isolated. You just can’t commute to a metro Boston job. I bought at the Great Recession. Prices have since doubled but it’s still cheap by Boston standards. Winter is mild. You rarely see 90F in the summer. The only traffic is around Mall Hell and UMass Dartmouth. Downtown New Bedford and the waterfront has a pulse. The local health care is adequate for the basics. The town has van service through the regional transit authority to MGH and the Longwood hospitals so seniors can access real healthcare for $25 round trip. When commuter rail shows up, that will be an alternative, too.

msRB311 · 09-23-2021, 06:02 AM

I'm not sure what the issues would be? What are you forseeing the downside would be ? You have already used your overpriced town for the schools, your son is grown, you'll get a good amount of money when you sell your home. Are you worried about the caliber of people in the potential lower priced town you'll move to ?

The only reason I could see you keeping your current home is to give it to your son one day if he has kids so he can use it for the schools.

Williepaws · 09-23-2021, 06:40 AM

my take on it is you need to ask yourself what do you want to do with your time? do you want to raise chickens, take long walks, have a large garden, take classes at a local college or online, etc etc etc. Many activities have zoning issues attached- not every town will allow chickens for example. If your wife and son are working from home, they need reliable internet service. Does a more rural town have reliable service? Lots of questions you need to ask yourself and your family.
Are you falling prey to the affluent Ma nose in the air lifestyle? my house, car etc, has to be better than yours. Only you know.

msRB311 · 09-23-2021, 06:46 AM

Also are we talking Weymouth or Braintree or Lowell or Lawerence ?

huff100 · 09-23-2021, 06:54 AM

Why not move? I am wondering if you are just so used to living where you are that it is holding you back. Make a profit on the house and take the $ and run...lol.
Get a bigger house with a nicer kitchen if you want and more land if that is the goal. Enjoy!

msRB311 · 09-23-2021, 07:02 AM

I agree. Not sure why it's even a question.

simplexsimon · 09-23-2021, 07:33 AM

The only people I know who made a big move at retirement did so to be closer to the grandkids.

If your only goal is to have a nicer house then I think it makes more sense to stay and renovate since you love your location.

What were your neighbors trying to accomplish? Why didn't it work out for them?

NewfieMama · 09-23-2021, 08:34 AM

Quote:

Originally Posted by Williepaws

my take on it is you need to ask yourself what do you want to do with your time? do you want to raise chickens, take long walks, have a large garden, take classes at a local college or online, etc etc etc. Many activities have zoning issues attached- not every town will allow chickens for example. If your wife and son are working from home, they need reliable internet service. Does a more rural town have reliable service? Lots of questions you need to ask yourself and your family.
Are you falling prey to the affluent Ma nose in the air lifestyle? my house, car etc, has to be better than yours. Only you know.

When my husband and I talk about where we want to live when our kids graduate from high school this is EXACTLY the kind of question we are asking ourselves. My hobbies require a certain type of property. My husband's hobbies have different requirements. What we need in our lives at that time will determine where we live.

That being said, I do have a friend/neighbor who just sold his house in our town. His real estate agent told him multiple times that now is the time to sell, so he put his house on the market for what he felt was a "ridiculous" price and then got over asking. His youngest is graduating from high school this year, but they just bought a house in a small town in Connecticut that they are renovating for their needs, will rent here until their youngest graduates, then move. He and his wife are VERY excited about the move because it's in an area that fits all of their empty-nest needs and now that they both work remotely, it's exactly where they want to be.

If you are only in your town for the schools (I can relate), but another location will fit your empty-nest needs better and you can take advantage of the real estate market, I would do it in a heartbeat.

Jacconn · 09-23-2021, 09:18 AM

The question I'd ask myself is what social network will you leave behind or expect to gain through a move? Depending how far of a move it entails, having to make all new friends and restart activities could be problematic, depending on the town. Are there amenities for seniors where you could meet people? Are the activities you like to do ones that might appeal to others in the town? Is it a townie town where everyone already has their networks and its hard to break in?