RV Living Coming to an End. What now?

by Roze
(Cave City, Kentucky)

Should I buy a house in retirement?

I am financially able but wondering if there is another path to 'sticks and bricks' living that is more flexible.

My husband had I have been living in our big ol' RV for the last 8 years traveling around. We have decided it's time to find a house and use the RV for 'rec-creating'.

We picked Kentucky (zero ties to this state) and have been exploring Zillow with a real estate agent. I am really torn about going from no long term debt to a mortgage and all those other home-owner expenses, in a completely unknown place.

I know it will be good for us to get off the road (better nutrition, fitness, maybe some friendships/fellowships.

I just can't get past making this insane commitment at this stage of my life (65yo, retired).

NOTE: Roze wrote this late Sept, it is now January and I am publishing... apologies! Wendy

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Go For It!
by: Michael - Venice Florida

Roze - When you think of the number of retirees who sell their existing homes and choose a new home in the same or another location, your choosing to do the same is not an insane commitment.

However, I do understand your hesitation. Since you are new to Kentucky, why not rent a place or stay in your RV at a camping resort/campground why you explore your new area. That is what is often recommend for homebuyers if you are not familiar with your new location.

When you are ready to purchase, decide on the level of responsibility that you want with regard to maintenance and lifestyle and then choose a property that best suits your needs.

You may want a smaller home with room for your RV. Or, you might find a mobile home park community that has storage for your RV. Total up the housing costs (mortgage, maintenance, property taxes) and compare those to your budget. Adjust your expectations to suit your budget.

Age really isn't a factor unless you think you might be headed to a nursing home or assisted living facility that would not make it worthwhile to buy a home since selling costs can eat up any potential profits.

I will be 60 this year and my husband is 68. We live in Florida part of the year and Upstate NY in the summer. I've always wanted a beach cottage, so I've started to look for places. Then, when I added up all of the costs, I realized I could stay in some pretty swanky beachfront hotels for the amount of time I would spend at the cottage. That is where the cost comparison in my decision comes into play. So, explore your new area, determine your wants and needs, and stay within your budget. And, don't compromise on a space to park your RV since having to rent a storage space can be expensive.
I recall a story of a woman who worked for AT&T for many years and then decided at 65 to fulfill her lifelong dream of becoming a nun. She did it.

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