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[quote=Anonymous][quote=Anonymous][quote=Anonymous]It make zero sense to downsize for many.

My neighbor bought his 6,3000 house in 1975 for $150,000 irbid now worth 1.8 million.

With 500k exemption he would owe taxes in 1.15 million at capital gains rate and state tax be like 300k. Plus 120k realtor fee/moving costs. Then where would he go?

The house is only 2,100 sf per floor. He renovated main level to add huge master suite with bathroom. He rarely goes upstairs or downstairs.

He is already 85 and still perfect health. He does keep his house up, new roof, window painting, lawn service. He has lived there 50 years so has a guy for everything. He would lose that too if he moves

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The better play is to put the home in a trust and let one family live and raise their kids in it full time. Grandpa either buys or rents a nice new construction condo. [/quote]

Kids? The man’s kids are 50-62. I think his grandkids are 20-35.

Another neighbor around corner my kid helps out in a little part time job. She goes to Safeway, Giant, CVS, pharmacy, their favorite little gourmet delli etc once a week does the shopping and loads their fridge and even cleans out old food. They are 94 and 92 and in pretty good health.

People are living so long they can’t give house to kids or even grandkids that 94 year old has  40 year old grandkids. And kids don’t want ti take in parents. Easier to Venmo my daughter $15 an hour to run errands and check in and report back [/quote]

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