Retirement plans re: housing

DisMN

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Dec 15, 1999
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We hope to relocate to a warmer climate and like so many others we've considered Florida. Our problem is finding info on Condos and apartments.
Actually I'm having a hard time coming up with condos for any places we're considering. It's almost always single dwelling homes.

Why on earth does everyone seem to want a house, the mortgage and all the upkeep and other garbage that goes with home ownership? We want none of that crap...been there done that and we're just hoping to either rent or at the most buy a condo and let someone else take care of the yard. LOL

I guess I'm finding lots of apartment info, more so than condo....

Sorry. Just venting in frustration. LOL
 
We hope to relocate to a warmer climate and like so many others we've considered Florida. Our problem is finding info on Condos and apartments.
Actually I'm having a hard time coming up with condos for any places we're considering. It's almost always single dwelling homes.

Why on earth does everyone seem to want a house, the mortgage and all the upkeep and other garbage that goes with home ownership? We want none of that crap...been there done that and we're just hoping to either rent or at the most buy a condo and let someone else take care of the yard. LOL

I guess I'm finding lots of apartment info, more so than condo....

Sorry. Just venting in frustration. LOL

I have no desire whatsoever to ever share walls or floors/ceilings ever again, which is what you can often get in apartments and condo complexes. A single family home is the way to go. That's what DH and I plan to ultimately wind up with, a home, and if the yard is too much, we can hire someone to take care of it.
 
We plan to move into a detached townhome/patio home when we no longer want the upkeep of a "house". You get the benefits of having a "single family" home without shared walls. It may be right in our town or somewhere south. I did see while I was looking for a place to go on vacation that many of the golf resorts in Myrtle Beach and other areas had monthly rentals for their villas-that was intriguing too because you aren't tied down to one area. We will probably snowbird it, summers here/winters somewhere warmer. The area around Myrtle Beach looks a lot like Northern MN so that was comforting in a way (lots of pine trees, etc.).

I also like the idea of living on a cruise ship. DH hates to travel but he would have his own "home" right on the ship and I could sight see :thumbsup2
 
I have no desire whatsoever to ever share walls or floors/ceilings ever again, which is what you can often get in apartments and condo complexes.

This. Unless I'm hard of hearing in my old age (because I certainly don't plan to get less grumpy!)
 

We plan to move into a detached townhome/patio home when we no longer want the upkeep of a "house". You get the benefits of having a "single family" home without shared walls. It may be right in our town or somewhere south. I did see while I was looking for a place to go on vacation that many of the golf resorts in Myrtle Beach and other areas had monthly rentals for their villas-that was intriguing too because you aren't tied down to one area. We will probably snowbird it, summers here/winters somewhere warmer. The area around Myrtle Beach looks a lot like Northern MN so that was comforting in a way (lots of pine trees, etc.).

I also like the idea of living on a cruise ship. DH hates to travel but he would have his own "home" right on the ship and I could sight see :thumbsup2


Any clue how to search/google for this type of abode? LOL
Detached townhomes or condos?
 
Part of the reason, I suspect, is that outside of the Miami area and maybe Ft. Lauderdale, most folks in the south don't like the whole condo concept for a permanent home. There is something about only owning a piece of a building that seems alien to a lot of people who are not originally from big ciities. Renting makes sense to them in that context much moreso than owning. Also, gardening tends to be a popular pastime with retirees in warmer areas.

Of course, you still have a mortgage with a condo, so I'm a bit confused about that part of your question.

Try looking for "villa" if you're looking for new construction; that's what they seem to be calling duplexes these days.
 
When I retire, I want to be in an apartment with a Super whom I can call to fix things.
 
This. Unless I'm hard of hearing in my old age (because I certainly don't plan to get less grumpy!)

I'm hard of hearing in my young age and I still don't want common walls-don't want to hear people next door but ALSO, I have to have the TV up pretty loud to understand what they are saying and I don't what to have to worry about neighbors hearing that too.

Any clue how to search/google for this type of abode? LOL
Detached townhomes or condos?

Around here if you do a search on "townhomes" it will be a "category" or "style" listing in the MLS listing. You can also usually tell by the pictures, but not always. I know in Missouri they are called "Patio Homes". Sometimes I have seen them called "Villas" too. I have been helping my parents look for one for when they move back here and we have found several that are very nice. We also have "main level living' as a criteria in our search engine but many have basements (around here) too.

edit: I just reread your post and I think the issue is that you are looking for "condos", which around here a lot of people use condo and townhome interchangeably but in other places a condo is just an apartment you buy vs rent.
 
Around here if you do a search on "townhomes" it will be a "category" or "style" listing in the MLS listing. You can also usually tell by the pictures, but not always. I know in Missouri they are called "Patio Homes".

Technically, a "patio home" is a unit that is all on one level, while a "townhome" is multi-story. That makes a difference to folks who cannot handle stairs.
 
Technically, a "patio home" is a unit that is all on one level, while a "townhome" is multi-story. That makes a difference to folks who cannot handle stairs.

This is probably why she is having a hard time finding what she is looking for--around here any style "house" that is in an "association" where they all pretty much look the same is a "townhome". They can be one level, one level with a basement, two stories, multi-story, etc. but they are all townhomes here.
 
Around here if you do a search on "townhomes" it will be a "category" or "style" listing in the MLS listing. You can also usually tell by the pictures, but not always. I know in Missouri they are called "Patio Homes". Sometimes I have seen them called "Villas" too. I have been helping my parents look for one for when they move back here and we have found several that are very nice. We also have "main level living' as a criteria in our search engine but many have basements (around here) too.

edit: I just reread your post and I think the issue is that you are looking for "condos", which around here a lot of people use condo and townhome interchangeably but in other places a condo is just an apartment you buy vs rent.

Yes, I think the terminology differences adds to my search difficulties. LOL



When I retire, I want to be in an apartment with a Super whom I can call to fix things.

^This. But don't they take care of the general maintenance on condos/townhomes too? LOL Yep, I'm thoroughly confused.



Part of the reason, I suspect, is that outside of the Miami area and maybe Ft. Lauderdale, most folks in the south don't like the whole condo concept for a permanent home. There is something about only owning a piece of a building that seems alien to a lot of people who are not originally from big ciities. Renting makes sense to them in that context much moreso than owning. Also, gardening tends to be a popular pastime with retirees in warmer areas.

Of course, you still have a mortgage with a condo, so I'm a bit confused about that part of your question.
Try looking for "villa" if you're looking for new construction; that's what they seem to be calling duplexes these days.


Oh yeah for sure I'm confused. Obviously we have some issues to figure out before making any firm decisions on what we'll want to do. We have 5 or so years and I wanted to take that time to explore and see what's out there for us oldies. ;)



This is probably why she is having a hard time finding what she is looking for--around here any style "house" that is in an "association" where they all pretty much look the same is a "townhome". They can be one level, one level with a basement, two stories, multi-story, etc. but they are all townhomes here.


This is it exactly! Seems the names for different types of housing are intermingled. Someone PLEASE make up your minds on what's what ok? :laughing:
 
We live part time in a 55+ retirement community here in central Florida. The community takes care of the lawn, irrigation system and shrubs for us, we just take care of the house.
 
You have two issues: the architectural style, and the ownership model.

A "condo" is never an architectural style. "Condominium" (to spell out the full word) is the legal term for units in a multi-unit building that are wholly owned (in fee simple) by their occupants, who all also have a partial ownership interest in the common areas of the building itself. Condominium developments are run by volunteer resident boards; the board members are elected by the residents, and all of the residents pay "fees" for the maintainance of the common areas and also usually the salaries of the folks who work in the office if there is one.

Cooperative apartments (aka "co-ops") are a different ownership model; these are most common in NYC. In this one, the building is owned by a corporation, and all of the residents buy shares in that corporation. Technically what you then own is a percentage interest in the building, rather than so many square feet of the inside of it.

A rental unit is just that: you pay for the privilege of occupying the space, but you have no ownership interest of any kind in it. Maintenance is covered as part of your rent, and you don't have to (or get to) make any decisions about how it is being done.

The terms for the various architectural styles can vary all over the place, but the terms for what kind of financial interest you have in the place are standard no matter where you are in the US.

You'll often hear people mention "renting a condo", but normally that doesn't mean a long-term rental (unless the developer who built the building is having real trouble selling the units and decides to rent them as apartments to help cover their debt.) Developments that are condos are marketed as more stable than rental developments because the occupants have an ownership interest in the common areas and will not be transient. Of course, in resort areas you have the phenomenon of condo buildings that allow the unit owners to rent them out short-term. This is done because those buildings are not meant as primary residences, and it is easier to talk someone into buying a second home if you will allow them to rent it out when they are not using it, so as to help cover the mortgage cost.

One other note: Traditionally, the nicer "senior communities" have required residents to buy their units, and the mortgage is held by the company that developed the community. Prices were very high because you couldn't shop it around, and the mortgage cost also included an automatic buyback of the unit when the occupants died or entered a nursing home, plus the monthly maintenance fees for the common amenities. Since the economy tanked and the housing bubble burst, that ownership model has really suffered, and a LOT of over-55 communities that used to require a very expensive upfront buy-in will now lease units at a monthly rent. Stinks if you bought in a decade ago, but times change.
 
We hope to relocate to a warmer climate and like so many others we've considered Florida. Our problem is finding info on Condos and apartments.
Actually I'm having a hard time coming up with condos for any places we're considering. It's almost always single dwelling homes.

Why on earth does everyone seem to want a house, the mortgage and all the upkeep and other garbage that goes with home ownership? We want none of that crap...been there done that and we're just hoping to either rent or at the most buy a condo and let someone else take care of the yard. LOL

I guess I'm finding lots of apartment info, more so than condo....

Sorry. Just venting in frustration. LOL



Condos have LOTS and LOTS of rules and regs. It's like living with Big Brother. That's why many folks prefer their own space.
 
My dad retired to a single family home in a senior community in AZ. It was new construction so no immediate worries about upkeep, but when the time comes if it's more than Dad can handle he'll hire it out. The landscaping is on a drip irrigation system and if it gets to the point where my dad can't keep up with pruning, again he'll hire someone. He also hires a care taker to watch the house if he'll be gone longer than two weeks (just someone to stop by, make sure the house is okay, irrigation system is working, etc.). Really, being in a condo wouldn't save him THAT much in upkeep, and he likes taking care of his home in any case (when he visits me he starts fixing things around MY house! :) ).

I'd compare the costs of having a single family home where you hire out all the work vs. a condo where most of the work is included in the HOA fees. Unless you buy a high maintenance single family home (like it has lavish landscaping or something) I bet the single family home is comparative to the condo as far as upkeep costs are concerned.
 
With a town home (using "our" language) usually all OUTSIDE upkeep it taken care of-siding, windows, roof, lawn/snow. Anything INSIDE that breaks is yours to fix just like in a house. It's nice having the outside done because it looks like you are home when you are not, which is what makes them such nice seasonal places.

We REALLY, REALLY likes the housing communities around the Legends Resort in Myrtle Beach. It was VERY inexpensive. We actually considered buying a lot to hold for when we could be snowbirds but they had a 5 year build clause in the contract. You would swear you were walking around in Bemidji. Some place to look into anyway.
 
We hope to relocate to a warmer climate and like so many others we've considered Florida. Our problem is finding info on Condos and apartments.
Actually I'm having a hard time coming up with condos for any places we're considering. It's almost always single dwelling homes.

Why on earth does everyone seem to want a house, the mortgage and all the upkeep and other garbage that goes with home ownership? We want none of that crap...been there done that and we're just hoping to either rent or at the most buy a condo and let someone else take care of the yard. LOL

I guess I'm finding lots of apartment info, more so than condo....

Sorry. Just venting in frustration. LOL

What sites are you looking on? Are you looking to move soon? You could hire a realtor.

DH and I are planning on buying our retirement home in 4 yrs and as much as we would like a condo, it would drive us nuts. Now a villa or town home would be OK, but I am not having people above or below me if I can help it.

My parents live in an apartment and the MIL lives in a condo. Putting up with neighbors banging all the time is not something I want to deal with for 30yrs.

Also I am a gardener so doing upkeep of yard and landscaping is my hobby.;) I can't wait to move and finally start a REAL garden.
 
I grew up with land. Not just a yard -- LAND. Land enough to plant a garden or an orchard. Land enough to make all the noise you want. Land enough to have a huge outdoor party (without parking problems). Land seems "right" to me. Our retirement house will have a three-car garage, a small pool, and a big outdoor terrace -- I don't want to have to coordinate with other people for these things, and I want complete privacy on my land.

I didn't 'specially mind living in an apartment when I was younger, but when we bought our house (the week we were married), I was surprised at just how accustomed I'd become to living near other people. I was surprised at how I didn't hear other people's car doors, other people in the stairwells, etc.

We live in the suburbs now on a nice one-acre lot, and it feels too small. We have four more school years with kids at home. Unless something unusual happens, we'll stay here in our large, single-family house 'til our youngest graduates. Then we'll have another decade before we retire. I could imagine us moving into a rented condo (or townhouse -- don't want to get into that conversation) for those last working years.

But I absolutely want my retirement house built on the land I already own, and I want it to be just the way I want it. It won't be big, but it'll be exactly to my taste -- and everything I want isn't cookie cutter -- something I could never get in a condo.

If we end up paying someone to do some of the maintenance, that's okay -- it's a small price to pay for the privacy and space.
 
There are lots of options around central Florida. Whether you choose a condo or single home where there are HOAs, do some research. The rules vary quite a bit so that is as important as the type of home you choose.

I suggest taking some fact-finding vacations in some areas that appeal to you so you can compare everything. Look at different styles, HOA rules and costs, taxes, and property insurance (big difference between inland and coastal areas). We have a ranch home and are responsible for maintaining our own yard, but we use a landscaper for the basic lawn care and heavy stuff and my wife does her thing in the gardens. You can usually work out affordable solutions to suit your wants and needs.
 
My parents are divorced and in their early 60s, both retired teachers.

DF bought and built a house 15 years ago that he knew would work for his retirement. He pays two teenage kids to do the outside work that he can't handle, and has a weekly housecleaner. The value in his home just keeps rising.

DM bought a condo five years ago because she thought it would be "easier" and has had nothing but trouble. At least six of the units on her road are for sale (SE WI). Everything seemed to have been built to look good on the outside but be cheap on the inside. I can't begin to list how many repairmen she's had to have out to fix this that and the other thing in the past year. Yes, the association takes care of the snowplowing and grass mowing, but that's really about it. And her adjoining wall is very thin. Value has nosedived, and she'll never be able to sell it anytime soon.

Guess which parent I want to emulate ;)?

Terri
 


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