Whats the oldest you would purchase a new home?

[Anonymous]

Considering mortgage rates, age, lifestyle etc…at what would you say, I’m not moving anymore! I ask because I’m 55 and only want to move 1 more time. My husband claims he has 3 more moves in him. I CAN NOT! Id rather save and move once than move multiple times with minor upgrades. At what age is/was you FINAL move or literal FOREVER home? I just want to be where I an at this age.

[Anonymous]

*what age?

[Anonymous]

Retirement, whatever age that may be.

[Anonymous]

I would claim that 3 moes at 55 is a waste of money (closing costs, expense of moving), not to mention mortgage rates today are double what they were a few years back.

That being said, perhaps one move to downsize, and one into an Assisted Living or Continuing Care place makes sense (or at least that is what we are thinking and we are 53 and 55)

[Anonymous]

I am over 55 and plan to move twice. Once to our retirement area and once to an assisted living center with nursing home capabilities. No worries about a mortgage as we will use the proceeds from our current house to buy the retirement house.

[Anonymous]

When both Dh and I are retired would be the oldest.

[Anonymous]

Anonymous wrote:Considering mortgage rates, age, lifestyle etc…at what would you say, I’m not moving anymore! I ask because I’m 55 and only want to move 1 more time. My husband claims he has 3 more moves in him. I CAN NOT! Id rather save and move once than move multiple times with minor upgrades. At what age is/was you FINAL move or literal FOREVER home? I just want to be where I an at this age.

Before I fully respond, what are his three moves?

[Anonymous]

My poor mom moved 3 times in her 70s. First when they retired they moved out of a HCOL area to a LCOL place that's a bit closer to me. Then when they found out I was pregnant with my first child they moved to my town, this time renting. A year later mom bought a condo nearby (dad passed away during that time).

I can see myself doing at least one move to be close to my adult kids wherever they happen to end up.

[Anonymous]

If me, what I would do would depend on health and assets. If I were in good health and had some personal goals involving different parts of the country/world, then I might consider. But money would also be a factor. Moving three times might be a rounding error for some, yet could eat up substantial money possibly needed at a later date for others. Case in point: my ILs were living in a great home with an elevator, yet decided they wanted to downsize to a one-story when in their mid-70s. My parents were about ten years older than them and I had spent time trying to figure out their best options as they had limited means. I flagged to DH and SiL that the downsize would involve transaction costs that would not be recovered down the road and that either remaining in their current house or opting for a retirement community may be the more prudent option. My ILs opted to downsize and now are at a crossroads with one in faltering health.

So if moving three times sounded mentally and physically taxing as well as a drain on money, then maybe OP should figure out what her DH really wants and how they can compromise in a way that works as best as possible for both of them.

[Anonymous]

One to downsize, one to assisted living type situation.

[Anonymous]

Anonymous wrote:I am over 55 and plan to move twice. Once to our retirement area and once to an assisted living center with nursing home capabilities. No worries about a mortgage as we will use the proceeds from our current house to buy the retirement house.

+1

[Anonymous]

When my MIL was widowed she downsized and bought a new property when she was 84.

[Anonymous]

I am over 55 and planning for my next move to be to a CCRC. I guess I might be moving within that community, depending on my health, but otherwise I'm one more and done.

[Anonymous]

53 and won't move, but will buy another house to live part-time of the year. We already have two. But, not boxing up and emptying out current home.

We are lucky we don't need to downsize. Our urban home walkable to everything was a decent size for our family of 4--and nowhere near as big as the home I grew up in out in the suburbs.

But--selling and packing everything up and moving. Nope. Plan to stay in this house and stay in different places throughout the year.

[Anonymous]

We would take a major hit on capital gains if we sold our current home. Realistically, it would make more sense to just age in place and add an elevator and redo the kitchen and bathrooms. If one of us passes, we get a double step up in cost basis and then it would make sense for the survivor to move. So maybe one more move for one of us. Hindsight I would have bought a ranch.