How do YOU feel about downsizing and moving away from your country estate?

Powereng · Nov 22, 2015

RetiredGuy2 - Where in Michigan are you located? Your township mowing requirements sound a lot like mine.

Retiredguy2 · Nov 23, 2015

EddieWalker said:
When was the last time you moved anywhere? Do you have any idea what a horrible experience it is? What about getting rid of all the stuff you will no longer need, or have room for? Kind of seems odd that after so many years of building up your home, you want to move right after getting married. Do you want to move or does the new wife want to move? If your main reason for moving is not wanting to mow, I would seriously look into hiring it out, or buying a much better lawn mower.

Eddie...I know what a huge PIB moving will be...as far as moving goes...it is mainly because of health reasons (both of us) and financial concerns for the future. Hiring things out is not practical for financial reasons because SS makes up our major source of income We have two large barns and a smaller one that will need new roofs soon...plus one needs serious rebuilding and that will eat up a lot of money which will be hard to come up with and while I formerly could have done such tasks myself it is impossible to accomplish now to save money. We don't really NEED all this property now...although we love the privacy.

AND...Newbury is quite correct...I did overestimate my sweat equity hours. Thanks for correcting me.

teg · Nov 23, 2015

You gotta do, what you gotta do... I'm sure as much as I talk about living here until I die. I will most likely will go through the same scenario when I get older.

We just built this house, vacation home now but our retirement home later. Ever detail was designed to help when we are older. Planning to set up the basement as an apartment (possible for a live in caretaker). We'll see how long we can live out here...

truckdiagnostics · Nov 23, 2015

Retiredguy2 said:
Eddie...I know what a huge PIB moving will be...as far as moving goes...it is mainly because of health reasons (both of us) and financial concerns for the future. Hiring things out is not practical for financial reasons because SS makes up our major source of income We have two large barns and a smaller one that will need new roofs soon...plus one needs serious rebuilding and that will eat up a lot of money which will be hard to come up with and while I formerly could have done such tasks myself it is impossible to accomplish now to save money. We don't really NEED all this property now...although we love the privacy.

AND...Newbury is quite correct...I did overestimate my sweat equity hours. Thanks for correcting me.

I feel for you. However, when you sell chances are they will take the cost to make the repair off what you could get for the property. Use the equity you have in the property to make the repair and stay there longer? Take the one down and sell it and use the money to repair the other? Two years ago wrestled with reality of not being able to maintain the property due to health reasons. I dug my heals in, made the repair and raised the property values. had to sell some stuff to find the cash to do it. If i was smart I would sell the joint now while everything is in nice shape. Keep telling my kids I keep everything in nice shape, so when I go to sell we can afford the better nursing home.
But like said below if i moved into town it would probably kill me.
Also, like said gota do what you gota do, and if you see the inevitable, better to get it done sooner than latter.

newbury · Nov 23, 2015

teg said:
You gotta do, what you gotta do... I'm sure as much as I talk about living here until I die. I will most likely will go through the same scenario when I get older.

We just built this house, vacation home now but our retirement home later. Ever detail was designed to help when we are older. Planning to set up the basement as an apartment (possible for a live in caretaker). We'll see how long we can live out here...

That is an excellent plan. We've had about 6 relatives that did that over the last several decades, living in their homes of years until they gently passed away. The most recent, an aunt, would not go to a "retirement" home an lived until 99 plus in familiar, friendly surroundings.

Retiredguy2 said:
Eddie...I know what a huge PIB moving will be...as far as moving goes...it is mainly because of health reasons (both of us) and financial concerns for the future. Hiring things out is not practical for financial reasons because SS makes up our major source of income We have two large barns and a smaller one that will need new roofs soon...plus one needs serious rebuilding and that will eat up a lot of money which will be hard to come up with and while I formerly could have done such tasks myself it is impossible to accomplish now to save money. We don't really NEED all this property now...although we love the privacy.

AND...Newbury is quite correct...I did overestimate my sweat equity hours. Thanks for correcting me.

Well you hadn't mentioned health and financial issues as driving factors.
And as far as NEEDing property in this day and age, I expect many of us could easily manage in a small apartment with great internet and a large TV.

Turbys_1700 · Nov 23, 2015

Wife and I are 56/55. We plan on staying here until we are not able to any more. Plan to retire at 62 and take care of the farm until health dictates otherwise. Hickory and Newton has some really affordable condos and town homes. Don't know if we could adjust or not. Privacy is a nice quality of life you just don't have in the city. Biggest concern is health and upkeep. House is the right size though at 1450 sq. ft. Not too big with taxes and cost of living reasonable.

bspeedy · Nov 23, 2015

Great things to be learned here. I'm 42 years old so 20 years or so from retiring. We live on 15 acres and try to do things now with the future in mind. I try to think about how to make things easy for myself when I'm 60 or 80. Things like getting SSQA for the loader and using pallets for firewood instead of hand loading and handling wood several times. Getting all implements and everything I use for work / fun in 100% good shape and getting rid of things that don't work in favor of good stuff. Not amazingly, making things easier for my future self is also a help to me now.

No plan to ever leave here because I'm just born to live in the country. Good ideas in this thread for all of us - young or old. Thanks to everyone for sharing.

houstonscott · Nov 23, 2015

Retiredguy2 said:
Age 65 here, recently retired and just began collecting Social Security. First wife passed away two years ago and I am recently remarried, have no kids and the new spouse has 3, and none of the kids have the slightest interest in taking over our homestead when we move in the not so distant future. I have lived on a fair sized property since 1987 and have put hundreds of thousands of hours of sweat equity into it and probably over a half million bucks into paying for and upgrading and maintaining the place. Yet despite all that, we are planning to move closer to town and downsize our home. Not really sure if I will ever recoup all the labor and bucks I put into this place, but...I guess I should have thought of that a long time ago. Being a newbie here, I am wondering if any others are in the same boat...how are you feeling about being in the situation I am describing? I guess the good news is: They just opened a retirement community about 4 miles distant from us. We drive by it a few times a week...and darn...it is getting difficult to think we may be relocating there down the road. (pun intended here).

Leave it to a wounded vet. HS

kcflhrc · Nov 23, 2015

Not that my place is a country estate but it is nice. 10 acres, 2500 sq ft mostly brick 2 story home built in 1970. Been here 2 years, and truthfully, I could move tomorrow and have no regrets. I have basically worked on this place non stop for 2 years. Lots of surprises and unexpected expenses with a home this old. So it has literally been my money pit. Always wondering what's gonna break next. It has literally just about put me in the poor house. So at 54, I'm wondering if it was a wise investment.