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CylonRed
Premium,MVM
join:2000-07-06
Bloom County
reply to Badonkadonk

Re: Square footage/Family size

1900 sq ft is larger than a lot of older houses (30+ years)... Only really large older ones and newer houses (McMansion's) are that bit. Heck - 1900 sq ft is 200 sq ft larger than out entire house and I would LOVE to have a couple hundred more sq ft...
--
Brian

"It drops into your stomach like a Abrams's tank.... driven by Rosanne Barr..." A. Bourdain


Badonkadonk
Premium
join:2000-12-17
Naperville, IL
kudos:5
Reviews:
·Dish Network

I grew up in a house that was a total of 1700 sf as well, so I certainly know what you mean. But at 1900 for the ground floor in our current house, it just doesn't seem that big. I'm sure if I could go back to my childhood home I'd be able to feel the difference more. But being in this house for so long, I guess I've lost some of the perspective.

At any rate, I wouldn't mind downsizing once the kids are out of the house (that won't be for another 10 or so years). I just don't see the point of paying taxes, utilities and maintenance on space that's not reasonably needed. On the other hand, most of the houses in the court are fairly big and older couples whose kids are out of the house still live in them. So people stay I guess. But in Illinois! I have no idea why.

My parents retired and moved into a townhome almost 20 years ago and are very happy. They don't have to worry about maintenance (even though the association dues are pretty high) and are free to travel all they want. In fact, they're headed of to a Russia, Poland, Lithuania and Latvia trip in a couple of days. They only came back a few months ago from Portugal.

Downsizing does have its advantages.
--
"You lie!" Talk about an understatement, Joe.



Draiman
Let me see those devil horns in the sky

join:2012-06-01
Kill Devil Hills, NC
Reviews:
·Verizon FiOS
reply to treeman

Our basement is 1,700 sq. ft. and the main house is around 2,800 sq. ft. so a decent size place.

I own 3 rentals right now and hope to have 6-10 by the time I retire but I can't really see myself moving into a place that small. With zone heat/ac in our house I'd much rather just close some doors then screw with moving. The next few rentals I pick up I'm going to do seasonal rentals so when retirement comes all I do is just reserve time at our own properties for a vacation.

You pay one way or another. Either you pay more in taxes for space you don't need or you pay in time/money to get new space the way you want it. Most people spend decades getting their house the way they want it. Starting over is more costly IMHO. I want to retire not start over!
--
What we're saying today is that you're either part of the solution or you're part of the problem. - E. Cleaver 1968



djrobx
Premium
join:2000-05-31
Valencia, CA
kudos:2
Reviews:
·Time Warner Cable
·VOIPO
reply to treeman

There are two of us in 2083 square feet 4 bedroom home. The 3rd and 4th bedrooms are on the small side, but I think it's pretty close to the right size for us. I think if we had more space we wouldn't purge excess stuff as often as we should.

We were in a 1423 sqft 3 bedroom before. It was comfortable, but a bit small if we ever had guests over or entertained. 3 bedrooms is a minimum for the two of us - one dedicated space for each person and one shared. The 4th bedroom in our newer home gives us a dedicated guest space, which is nice to have.

The only way I'd "downsize" is if I was forced to. My plan is to retire here.
--
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Rethink Billable.



Draiman
Let me see those devil horns in the sky

join:2012-06-01
Kill Devil Hills, NC
Reviews:
·Verizon FiOS
reply to treeman

Another school of thought is the 'family house' is an inheritance if you have children. You keep the big how because you want to retain the value so your children get something eventually. Normally people sell houses and downside as part of their retirement income. You work to pay off a $400,000 house that you hope turns into a $600,000 at retirement then you sell it and buy a $200,000 place so you make $400,000 to spend in retirement.
--
What we're saying today is that you're either part of the solution or you're part of the problem. - E. Cleaver 1968


AsherN
Premium
join:2010-08-23
Thornhill, ON

Or, as I'm planning, when I retire I'll sell my house and rent. Use the capital from the sale as retirement income. Kids get nothing.



Draiman
Let me see those devil horns in the sky

join:2012-06-01
Kill Devil Hills, NC
Reviews:
·Verizon FiOS

said by AsherN:

Or, as I'm planning, when I retire I'll sell my house and rent. Use the capital from the sale as retirement income. Kids get nothing.

Yea that's a pretty common thing for people to do. Most live up North then sell and move down South. I'm planning not to use anything but rental income, 401k, IRA, and personal stock to live on when retired so if social security is still around that will be play money. Our house is just going to be left in the trust and converted to rental to join the other rentals and managed by a third party. The kids will get the monthly profits split evenly as an inheritance. Maybe by then that monthly income will be enough they never have to work again.
--
What we're saying today is that you're either part of the solution or you're part of the problem. - E. Cleaver 1968

Mr Matt

join:2008-01-29
Eustis, FL
kudos:1
Reviews:
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reply to treeman

You might want to consider what your house was worth at the top of the market before the recession and what it is worth now. If there is a significant difference and market values are increasing in your area, your profit might be higher if you wait, then the difference between the higher carrying cost of the old house the lower carrying cost of the house you propose purchasing while you retain the old house.



leibold
Premium,MVM
join:2002-07-09
Sunnyvale, CA
kudos:10
Reviews:
·SONIC.NET
reply to treeman

said by treeman:

Seeing that the real living area of the house is on the 2nd level(lower level has large guest bedroom,bath, pool table, large screen bar area) I think that sooner or later the steps will get old just like me

Consider gradually re-purposing some of the downstairs rooms to minimize how frequently you move up and down the stairs with the eventual goal of being able to live entirely on the ground floor (make your guests take the stairs instead or possibly even rent out the upstairs unit).
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stev32k
Premium
join:2000-04-27
Mobile, AL
kudos:1
Reviews:
·Mediacom
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·AT&T Southeast
reply to treeman

We are also planning to downsize. There is just the wife and I in a single story 3,400 sf home. We never even go in the living room, dining room, or two of the four bedrooms. We converted one bedroom to an office and almost 99% of our time is spent in the kitchen, office, garage, or the one bedroom.

The thing that has kept me from selling long ago is our garage. It is over sized 30' X 45' and holds two cars, a large shop area, and has a large storage room with floor to ceiling shelves. I spend a lot of my time in there woodworking, reloading, and fixing and making things. It's what I like to do and that is going to be hard to replace.

In addition to the high utility bills we have a 1 acre lot with a lots of landscaping and trees and it's becoming too much of a chore to keep up. I'm not interested in moving into an apartment or condo because I need a shop area and want to keep the cars in a garage. So it looks like we will have to buy a small house and build the garage I want.

The actual moving is another matter. We have been in this house for 15 years and the amount of "stuff" that has collected over time is amazing. I estimate that having some one come in to pack, move, and unpack would cost in the neighborhood of $25,000. Then how in the world can we ever fit every thing in a smaller home? The answer is we can't and that is very traumatic for the wife. She just can't stand the thought of having to get rid of some of her "stuff". So It's not going to be easy or cheap to move.