starting to think downsizing to a townhouse not worth it

[Anonymous]

Anonymous wrote:

Anonymous wrote:I never ever got the appeal of a townhouse. You may as well get a condo.

You don't have anyone above or below you and sometimes share just one wall. You can have a private garage and driveway.

Also, what is wrong with a condo? If built properly (our building is 20+ years old), soundproofing is excellent. I only hear the people above us a few times a week, typically when something heavy is dropped. Otherwise, we hear nothing from above, below or next door. When you renovate and replace floors you must soundproof, and there are fire walls/soundproofing walls between the units.

I love having no real maintenance at all and the city at my doorstep. 2 bedrooms for 2 of us is all we need (and 2 bathrooms). Easy to clean a 1500 sq ft place (versus the 4.5 sq ft home we downsized from). Then again, we are a more upscale condo building, so even the renters are "not your typical rental clientele"---the prices things rent for tend to get you better tenants than many places

[Anonymous]

Moving in a retirement community condo or townhouse can be a nightmare. There's 55 year old pot heads and drunks can be your neighbors who stay up until 2:00am making noise, loud music, smoking pot, yelling and screaming. It may cost you 150K just to sell and move. Its not worth it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I never ever got the appeal of a townhouse. You may as well get a condo.

You don't have anyone above or below you and sometimes share just one wall. You can have a private garage and driveway.

Also, what is wrong with a condo? If built properly (our building is 20+ years old), soundproofing is excellent. I only hear the people above us a few times a week, typically when something heavy is dropped. Otherwise, we hear nothing from above, below or next door. When you renovate and replace floors you must soundproof, and there are fire walls/soundproofing walls between the units.

I love having no real maintenance at all and the city at my doorstep. 2 bedrooms for 2 of us is all we need (and 2 bathrooms). Easy to clean a 1500 sq ft place (versus the 4.5 sq ft home we downsized from). Then again, we are a more upscale condo building, so even the renters are "not your typical rental clientele"---the prices things rent for tend to get you better tenants than many places

“Only a few times a week” is awful. That means the soundproofing quality is not great and your quality of life is entirely dependent on whether you have bad neighbors. It might not bother you now but this can become an extreme nuisance if you get neighbors who are extremely loud and inconsiderate.

[Anonymous]

Anonymous wrote:

Anonymous wrote:
I never ever got the appeal of a townhouse. You may as well get a condo.


You don't have anyone above or below you and sometimes share just one wall. You can have a private garage and driveway.

You can, but those are usually the more expensive townhouses and the garage is tucked under (which means stairs to the level with the kitchen which makes hauling in groceries harder unless you have an elevator). I have also seen those kinds of townhouses that have few parking spaces for visitors.

Not true. My garage has zero steps into the TH kitchen. No stairs outside anywhere.

[Anonymous]

Downsizing means different things to different people.

I know a couple who had a 4,000 sf in Potomac on two acres with a swimming pool and tennis court.

When kids moved out and ready to retire they downsized to a 4,000 sf house in Avenil in Potomac on a 1/2 acre. In Avenil the HOA does mowing and snow removal your property as well as all common properties, they take care of trash service, plus they have a community swimming pool and tennis courts.

Was not size of house that stressed him it was all that land to take care of and cost and him aging.

[Anonymous]

Unfortunately it doesn't make sense to "downsize" to a townhouse in your current neighborhood:
- Moving to somewhere with stairs is not a good idea
- You're not improving anything substantial like location or amenities of a 55+ community
- You'll spend a fortune on realtor fees, closing costs, starting over with tax assessment at the new place, moving costs, and the inevitable money spent on fixing up the new place to suit your needs. Then you get to do it again once you hit the age when you shouldn't live somewhere with stairs.

Just stay where you are or trade for something substantially better like moving into the city.

You don't owe your home to anyone younger. That's just the latest foreign-influenced political propaganda to normalize hatred of older people who don't vote the way they do.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:That's why we bought a house with a big bedroom on the first floor. I plan to be here as long as I can. I don't need the basement except for laundry and can just never go upstairs once the kids leave for college.

That was smart but for some reason those homes are very rare in the DC area, especially in MD.

I looked for one for years and still occasionally look but that first floor primarily bedroom is still rare even in new builds. I don't understand it.

Because most people who purchase a 2.5K sq foot or larger home have kids, often younger kids and most do not want their kids bedrooms on a different floor than them. I'm not running up/down a flight of stairs when the kid cries at 2am or vomits at 2 am.

In the DMV surburbs in particular newer builds 1970s to present a 2.5K sf house would be tiny. My sister and brother both downsized to 3,000 sf houses. Seems big but they are both "senior citzen sized" meaning one level no basement or upstairs. Both of their senior citizen houses set up same way. Garage you pull into. Big Master Bedroom in front of house, Kitchen towards front of house, big living room/dining room towards middle of house than three small bedrooms further from front of house for grandkids and kids to stay over. Oddly shapped as ment for a couple who lives there full time and older. Hence garage you pull into right by kitchen and ther huge master bedroom and bath. Sadly huge I guess as doors and bathrooms in the MBR are wide for wheel chair access etc. And some people use extra smaller bedroom when caretakers move in.

[Anonymous]

Downside of Condo and Coop living you are a glorified renter.

I owned a Coop in NYC for 8 years. I did like it but everyone called it an apartment and I owned it for 7 years before I was married and theh year there with new wive people would ask when are we "buying a place" Try explaning my apartment in an apartment building is not really and apartment it is something I own in form of shares in corporation. I also still own a condo I rent out. I own that 13 years. Does not feel like I own it. Just a thing in a building a tenant lives in and pays rent. I am on board of the condo but everything is budgeted for and with a lot of older people in building and people like me who rent we basically maintain building really nice buy no one is interested in any fancy capital improvements so it is stuck in time. A house you can do what you want. My door is brown cause all doors are brown type thing. That would really annoy my wife in retirement as she loves to putter about on home improvements

[Anonymous]

Have you looked at the Danbury, CT area? Within an hour’s drive to Manhattan but cheaper housing.

[Anonymous]

Anonymous wrote:

OP again. Yes, it's crazy. And it's keeping out young families who could really benefit from our spacious homes. Of course, with complaints about school crowding, maybe this is a blessing. But I feel for millennials right now.

Don't feel badly. Eventually people die or go to assisted care. Several houses have come up in our neighborhood for these reasons. I think a lot of older folks make the calculation that you made and realize that their next move will be one that is out of necessity (because the financials just don't work). "Downsizing was not a thing in my grandparents' day. I think it only came up as a "thing" in the last 25 years or so. My grandmother's house did not go on the market until after she died. Nobody judged her for that. But people do judge the boomers for doing the same thing. In fact I know someone who would like to downsize, but just plain can't find a smaller home in their area (because there aren't many that were built). She has given up.

But our grandparents' houses were modest to begin with. My grandparents raised 4 kids in a 3 bed, 2 bath house with a 1 car garage and my other grandparents raised 6 kids in a 3 bed, 1 bath house with no garage. OP wants to downsize to a bigger house than those. Standards have changed.

I feel for OP's situation of feeling stuck in a too-large house, but it's not unreasonable for young families to look at that situation and say that it's unfair for them to have to pay the prices OP is complaining about for a townhouse that isn't as spacious for their family while OP hangs onto a house with space they don't need.

[Anonymous]

Anonymous wrote:it's not really about townhouse pricing, it's about hedonic adaptation. You don't want to move to a crappier place, so you are looking at fancy townhouses and those aren't cheaper.

You can't both "pocket half a million" and stay at the same standard of living.

Yep! A few years ago we helped my MIL move closer to us at age 80 because she had a really deluxe condo, but was almost out of money for her living expenses. She also had some health issues and it made sense for her to live closer to us in case of an emergency. It took forever to find a place she would even consider because she "refused to settle" - finally we found a massive 2BR/2BA 2100 sq ft condo for rent in a retirement community building with an elevator and garage parking. Retirement communities are the only places near us that had larger 2BR/2BA apartments because they are marketed to people that are downsizing from mainly SFHs. So for OP - maybe now is not the time to try to downsize. Maybe save it for when you're older and need to live closer to family and avoid having to downsize multiple times (from SFH to townhouse to retirement community).

[Anonymous]

Anonymous wrote:

Anonymous wrote:

OP again. Yes, it's crazy. And it's keeping out young families who could really benefit from our spacious homes. Of course, with complaints about school crowding, maybe this is a blessing. But I feel for millennials right now.

Don't feel badly. Eventually people die or go to assisted care. Several houses have come up in our neighborhood for these reasons. I think a lot of older folks make the calculation that you made and realize that their next move will be one that is out of necessity (because the financials just don't work). "Downsizing was not a thing in my grandparents' day. I think it only came up as a "thing" in the last 25 years or so. My grandmother's house did not go on the market until after she died. Nobody judged her for that. But people do judge the boomers for doing the same thing. In fact I know someone who would like to downsize, but just plain can't find a smaller home in their area (because there aren't many that were built). She has given up.

But our grandparents' houses were modest to begin with. My grandparents raised 4 kids in a 3 bed, 2 bath house with a 1 car garage and my other grandparents raised 6 kids in a 3 bed, 1 bath house with no garage. OP wants to downsize to a bigger house than those. Standards have changed.

I feel for OP's situation of feeling stuck in a too-large house, but it's not unreasonable for young families to look at that situation and say that it's unfair for them to have to pay the prices OP is complaining about for a townhouse that isn't as spacious for their family while OP hangs onto a house with space they don't need.

No, blaming older people for still living in their homes is an indefensible position to take.

[Anonymous]

Anonymous wrote:Unfortunately it doesn't make sense to "downsize" to a townhouse in your current neighborhood:
- Moving to somewhere with stairs is not a good idea
- You're not improving anything substantial like location or amenities of a 55+ community
- You'll spend a fortune on realtor fees, closing costs, starting over with tax assessment at the new place, moving costs, and the inevitable money spent on fixing up the new place to suit your needs. Then you get to do it again once you hit the age when you shouldn't live somewhere with stairs.

Just stay where you are or trade for something substantially better like moving into the city.

You don't owe your home to anyone younger. That's just the latest foreign-influenced political propaganda to normalize hatred of older people who don't vote the way they do.

Plus the reality is that most old people don't maintain their homes very well. When you move, your home will probably have to have a gut reno or be razed, so it's not some young couple just can move into it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Unfortunately it doesn't make sense to "downsize" to a townhouse in your current neighborhood:
- Moving to somewhere with stairs is not a good idea
- You're not improving anything substantial like location or amenities of a 55+ community
- You'll spend a fortune on realtor fees, closing costs, starting over with tax assessment at the new place, moving costs, and the inevitable money spent on fixing up the new place to suit your needs. Then you get to do it again once you hit the age when you shouldn't live somewhere with stairs.

Just stay where you are or trade for something substantially better like moving into the city.

You don't owe your home to anyone younger. That's just the latest foreign-influenced political propaganda to normalize hatred of older people who don't vote the way they do.

Plus the reality is that most old people don't maintain their homes very well. When you move, your home will probably have to have a gut reno or be razed, so it's not some young couple just can move into it.

that is becaue young people are insane. I sold my mint condition starter home we loved to death as had to move was a split 1,300 sf with a 200 sf finish basement 1,600 feet today. Had two bidders.

1) young married couple in a apartment she was pregant her MIL and her really wanted a house.
2) a couple who were around 60. Their only child a daughter bought a house a few blocks over, married with a great son in law and a 1 and 3 year old. Wanted a near mint condition house manageable house near their grandkids but also wanted 3 bedrooms as wanted to baby sit and have sleep over grandkids.

We actually first accepted young couple offer they were insane with home inspecton report. My favorite a single wooden board on my small 10-13 back deck was looking damaged so they put I needed a new deck wanted 5k off, house was empty as I relocated and no one ran AC and and we had floods of massive rain and humidity plus heat. My crawl space door had some mold on back of it wanted 10K off for mold remediation. I had a brand new bathroom in den and and master bathroom was in nice shape. They commented my third fully bathroom was dated and needed replacing. Dude do you know how rare it is to see a house with 1,600 total sf with three full baths. And who is even using that bath. You have a great one in MBR and Den where guests go has a brand new one. they even complained a gutter was loose and I need caukl on a door and they found a sticky faucet and they wanted 40K off. I was like are you insane, my wife just wanted to get rid of it and said 20K ok. Then they started again in on sellers credits and stuff. I finally cancled deal.

The older couple loved house. I sold it same price they offered but no money off. I spent one full day at house, flipped board on deck. No rot, just board loose, ran dehumudifier and wiped down door that got some mold on it, fixed gutter, caulk door and replaced sticky faucet handle. All in cost me $200 bucks in supplies and a day work.

Years earlier we sold my Moms small home in a estate sale. We also had a young couple, lived nearby, about to have a kid, loved house to death. They were 5k below top offer that was as is and cash. My sister dug in and said look lets sell it to them. With four kids only like $1,200 less per kid and mom would want a nice young couple in house and not some flipper. Well they did same thing crazy demands and my brother doing deal tried to explain it is as is. They wanted chimmny clean, brought up maybe chimmny liner all things noted in inspection and my brother was like that is good info. Then they were like well please fix all these things. My brother was like it is as is. But we fixed every minor issue in house, we painted whole house, house is spotless clean and our landscaper just did spring clean up and outside is perfect. They they started in about mortgage cost and we relisted and a man whose daughter just graduated law school saw the small home in perfect shape except needed refreshing paid cash for home as is for $25k more than them. Daughter ended up living there for a few years and they sold it for 100k more. I mean the small homes that are priced well. I sold two they young people want viking ovens, Subzero fridges, all new bathrooms and kitchens and that is impossible in a small well priced starter home.

[Anonymous]

My parents just bought a ranch-style home with a basement that is perfect for them. Everything they need, including two master berooms, an office, the kitchen and living room is on the main floor. The basement is set up for kids/grankids to visit. They almost never go down to the basement, so it lives for them like a single level ranch home. They didn't do it to save money but to get into a single-level home as they plan to age in place there. It also has beautiful views so that they can sit on the back patio for hours. They have enough money for in-home health providers, so this is the end of the road for them in real estate.