By Patrick follow 2012 Dec 21, 10:30am 2,522 views 13 comments
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The Martins former house in Paso Robles, California was a huge burden, both financially and energy-wise, keeping them from their retirement dreams. Have you ever thought that your stuff is holding you back from the life you really want to live? Have you ever considered escaping from your stuff and your house itself so that you can freely fly away on adventures? Lynne and Tim Martin did just that. The Martins arent your typical retirees. At 70 and 65, the pair realized that time was running out, and that life was too short not to follow their dream of travel....
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You know who's really free?
Homeless people! Those guys really have it good!
Loving life, house free here too.
I have not had to commute for over 4 years. I can bike to work in 6 minutes, run in 12, long-board in 16 and walk in 25. I went November 2011 - December 2012 without driving to work once! I can also get myself to Castro Street in the same amount of time via self-locomotion. Our 2BR apartment is in a great location, and it is the 2nd cheapest one in Mountain View based on looking around padmapper. That's not to say that it is "cheap" but it is a good deal for this area anyway. I make up the difference in gas and tires!
You know what 1 hour a day, 5 days a week, 50 weeks a year is? 6 weeks' worth of vacation time. I save at least that compared to when I used to commute from San Jose. My wife also gets a nice reverse commute to her job near Milpitas and saves a lot of time compared to where she was living previously. And, renting has saved us enough cash that we could both quit work for about 8 years, assuming 4% inflation nominally. Not that we will, and we will undoubtedly pile it into a house instead at some point, but I am not in a big hurry. Frankly, the thought of living here for 5-7 years to wait out the next bubble is pretty appealing.
Oh, one caveat is that having my parents live about 20 miles away helps a lot too. Hobbies of mine like metalworking, woodworking, car builds and speaker building all benefit greatly from them having a house and garage. If they were not local, I would be a bigger hurry to buy a garage...err I mean, a house.
The key is they are "writing a book", which means that they will put the most phony, best spin on their decisions to "sell" their lifestyle. They won't describe the downsides. Travel is a potentially hazardous enterprise, no matter what the conveniences of modern travel. I heard about one of my old instructors being killed by Somali pirates in an around the world boat adventure.
Also, being in good health means you can do a lot of things, but quick access to medical care is a necessity.
Most older people want stability with family members close by, world citizens or not.
It is true that older people start regarding houses as encumbrances.
If you no longer care about status symbols, the house is a comfortable, safe place to live, and it doesn't need to be an estate any more.
A house is not an investment unless you rent it out. Otherwise, it is a lability that eats cash and requires that you cannot travel far from it for an extended period.
I'm looking at some land (1+ acre) to build on north of San Antonio, but until then, I rent. New complex, gated, in a nice part of San Antonio.
I love being a renter at the moment. I live in a gated community, 4 bedrooms, 2.5 bath, next to parks, shopping, airport, the city, snow, etc for less than half the PITI + HOA of owning this house. I haven't had a rent increase since 2009.
I will buy at some point, but it has to make sense financially.
Renting an apartment and owning a house aren't really the same thing at all.
Around here, you can't rent for anywhere close to what I can get a mortgage for. That's probably not the case in SV though.
The key is they are "writing a book", which means that they will put the most phony, best spin on their decisions to "sell" their lifestyle. They won't describe the downsides.
My same thought. She's selling a book. I was really interested in hearing the dollar numbers involved in this decision but couldn't find anything on that subject on her website. She is one of those continually positive, gushing people that I just frankly find irritating. Does that attitude really exist or is she just faking it?
Renting the most space for the least amount of money is the wisest thing to do today. Then, buy some rental properties. Actually, this was the wisest thing to do beginning 12 years ago when the housing pyramid collapsed.
Renting has allowed me to save up enough cash that I could buy a house or condo outright. I've said it before, with all my utilities included my rent is 3000 more than just the property tax all by itself on the last home I owned. Of course investment properties are the way to go, but after going back to renting and seeing the state some of these renters are in, it's kind of scarey actually. Lots and lots of people live from day to day, I can't blame people for wanting to expatriate as this society goes slowly but surely downhill.
To each his own. I always felt like a loser as a renter, but I rented as low cost as possible to save as much money as possible. I lived in an old flat in Crockett, CA if you know the area, and plowed as much money as possible into the market. I lived in the same studio apartment for - my God - 7 years in San Diego, right off the beach however. But for me, owning a house is much, much better. Maybe when I am older and retired, renting would make sense, I suppose. But I think having enough savings to live comfortably, including home maintenance and upkeep would probably be bset.
At 70 and 65
At 70, when I feel abandoned by my kids, and never see my future Grandkids. I imagine I wont be able to stand to be in my own skin either, and will blame my house and take to the open road.
I'll buy an RV and park it in their driveway.