Reply to Anyone transition from big pay/big house/big expense to a low cost, simple, yet fulfilling retirement life?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Before we retired we sold our single family home in the city and bought 2 condos, one at the beach and one in the city. Makes it very easy to close the door and walk away. HOA takes care of everything, packages, gardens, pool, security, maintenance.

Our life is so streamlined now, we don't really need a car as we can walk everywhere. One of our kids returned after college and we have plenty of room. We may just lend them $ to purchase something, we made plenty of money sending our house and downsizing.[/quote]

Condos are not a good investment. Waste of money.[/quote]

The right ones are not.

We are in a large city (not scum) and to live downtown it's condo living.  We love it.  The HOA fees are not that bad when you consider it includes 95% of our home insurance (we only insure our belongings the rest is under the HOA), no exterior maintenance, our gas and hot water are included, wifi also, 24 hour concierge, several public spaces to use or reserve for use for free, never have to shovel snow again, now a lawn, trim shrubs, etc

Ours holds its value and has gone up considerably, because it's in one of the top 3 luxury bldgs in the city.  Walking distance to most everything .

When we moved I calculated what I used to pay for all of that and it's not that much more for the HOA fees.  And a 24 hour concierge and maintenance on staff are amazing.  Our maintenance guy often fixes things for us at no charge so I don't have to call a plumber/etc[/quote]

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