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Real Estate
Reply to "Moving to the city as an empty nester"
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[quote=Anonymous][quote=Anonymous]Why on earth would you want to keep and maintain the suburban home??? Sell the suburban home. Buy a condo in the city with a guest room for your adult children to visit and somewhere for their kids (sleeper sofa/den) so each kid can easily come visit. Then rent a house for the 0-3 times per year that your whole family visits at the same time.[/quote] If you live in Greenwich or Westport or a southern CT town your income will be taxed at a significantly lower rate. So there are tax and other benefits (proximity to the beach in the summer) to maintaining your residence. I would get a pied-a-terre. NYC is great, but also a huge headache. If you can afford to keep a place outside the City you will have an escape hatch when you need it. [/quote]
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