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Thread: Moving to a low-cost-of-living area to retire?

  1. #51
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    When I was single I bought a condo so no maintenance needed outside or yard work. The fees were reasonable. But you have to be careful.

  2. #52
    Simpleton Alan's Avatar
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    Quote Originally Posted by Ultralight View Post
    The idea of owning property -- like a house -- feels uninspiring to me. I read Dave Ramsey's stuff about owning a house. I was open to his ideas. I just don't get a good feeling about it. The commitment. The taxes. The tethering to one location. The lawn mowing. All that stuff.

    I once in a while think of a condo -- but the fees!
    As part of your financial literacy goals, think of it as an appreciating (generally) asset.
    "Things should be made as simple as possible, but not one bit simpler." ~ Albert Einstein

  3. #53
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    Oprah has a home in Santa Barbara, farm in North Carolina, condo in Chicago and a home on one of the Caribbean islands. She may have more I dont know about. Its a rough life)

  4. #54
    Senior Member iris lilies's Avatar
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    Quote Originally Posted by Alan View Post
    As part of your financial literacy goals, think of it as an appreciating (generally) asset.
    I disagree for this particular poster. He has managed to find apartments that take his dog, that is a major sticking point. . I absolutely do!not think real estate is his jam.

    condos are largely un-good investments in the midwest.

  5. #55
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    Condos are a better asset in the West coast. We have both made money and lost it on single family homes. I actually made 30k after 6 years on my condo.

  6. #56
    Senior Member JaneV2.0's Avatar
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    Quote Originally Posted by Teacher Terry View Post
    Oprah has a home in Santa Barbara, farm in North Carolina, condo in Chicago and a home on one of the Caribbean islands. She may have more I don’t know about. It’s a rough life)
    Yeah--one on Orcas Island, and one in Maui, I hear. House hoarding. I can barely cope with one.

  7. #57
    Senior Member Ultralight's Avatar
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    Quote Originally Posted by iris lilies View Post
    . I absolutely do!not think real estate is his jam.
    Why?
    I came from a real tough neighborhood. I put my hand in some cement and felt another hand." -- Rodney Dangerfield

  8. #58
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    If I had loads of money I would keep my one little house, but travel a lot. Id rather spend money on a few weeks of hotel somewhere than own a house there.

  9. #59
    Senior Member iris lilies's Avatar
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    Quote Originally Posted by Ultralight View Post
    Why?
    1)The amount of stuff you have to have to maintain a stand alone house and yard would drive you insane.

    2) Condos (alternative to house and yard) are fairly lame for appreciation in the Midwest.

    3) You cant afford it.

    4) You seem to have no interest in puttering around a yard, a garden, a house.

  10. #60
    Senior Member iris lilies's Avatar
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    Quote Originally Posted by Tammy View Post
    If I had loads of money I would keep my one little house, but travel a lot. I’d rather spend money on a few weeks of hotel somewhere than own a house there.
    Yes, thst is a good option, taking the luxury penthouse in fine hotels.

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