Scaling Back for Retirement

[DGS49]

When I was in my 30's and my father was living with me, my wife and I bought a big house in the suburbs of Pittsburgh. Good neighborhood, good school district, blah, blah, blah.

I always anticipated that right before retirement (like NOW), we would sell our big house and buy something more modest in the City. I resent having to get in my car everytime I want to go to the store, or to church, or to anything else for that matter. I want to be able to life most of my life on foot.

Obviously, a consideration in buying a residence in your mid-60's is, you don't want to be messing with stairs for the rest of your life, so, as a minimum, you want a residence with the master bedroom on the main floor.

So this doesn't seem very difficult does it. I want to sell my big house and buy, let's say a modest townhouse (called a "carriage home" when the MBR is on the first floor) with the proceeds (don't want a mortgage in my old age).

It's almost impossible. Townhouses in livable areas are priced outrageously. And in addition to the taxes, which would be somewhat less than I'm paying now, you are looking at hundreds of dollars a month in condo maintenance fees. Welcome to the Brave New World where you pay a lot more for a lot less.

Is it this way everywhere?

 

[Mr. H.]

Home markets of course vary. You might consider moving to a smaller city.

 

[Connery]

When I was in my 30's and my father was living with me, my wife and I bought a big house in the suburbs of Pittsburgh. Good neighborhood, good school district, blah, blah, blah.

I always anticipated that right before retirement (like NOW), we would sell our big house and buy something more modest in the City. I resent having to get in my car everytime I want to go to the store, or to church, or to anything else for that matter. I want to be able to life most of my life on foot.

Obviously, a consideration in buying a residence in your mid-60's is, you don't want to be messing with stairs for the rest of your life, so, as a minimum, you want a residence with the master bedroom on the main floor.

So this doesn't seem very difficult does it. I want to sell my big house and buy, let's say a modest townhouse (called a "carriage home" when the MBR is on the first floor) with the proceeds (don't want a mortgage in my old age).

It's almost impossible. Townhouses in livable areas are priced outrageously. And in addition to the taxes, which would be somewhat less than I'm paying now, you are looking at hundreds of dollars a month in condo maintenance fees. Welcome to the Brave New World where you pay a lot more for a lot less.

Is it this way everywhere?

As soon as my son is a little older I am moving back to NYC. I miss theater and arts. I also miss the people...... It even may be cheaper than where I am right now....

 

[Disir]

Everywhere.