Quote:
Originally Posted by Steron
I'm in love with the first house you listed. What I wouldn't give to own that. Maybe one day......
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Yeah, I really like that house. It's got a lot of character, and compared to Denver prices it's really inexpensive. With the apartment over the garage to rent out, it's the rare place that might be worth moving to from a pure financial perspective if I was retiring today. (I'm still several years off, but I like to think ahead.)
When I think about moving in retirement, there are several elements to consider.
Pros of staying where I'm at in retirement:
1. I get good appreciation on my current home. I got lucky and bought in a high-demand place. Buying in a cheaper market will cost me money in terms of lower appreciation on the home.
2. I get cash out of my current home since I rent out an apartment.
3. My current home is in really good shape and there are no surprises for me in terms of maintenance.
4. I can walk to anything I need, which is good for a variety of reasons.
5. Until I need the cash for income, having a bunch of money in home equity is good diversification.
6. I really like Denver.
Pros of moving in retirement:
1. I could buy a house like this in a cheaper market and free up a ton of cash in retirement.
2. At some point in the distant future, having a house with lots of stairs may become a problem. Hopefully that's the distant future, but still...
3. It would be fun to explore a new place.
All in all, it would have to be a perfect fit to warrant moving, so I probably won't unless health forces me to do so. I pretty much have an ideal situation for the foreseeable future.