Please have a plan for when you turn 80.

Pedestrian accidents sky ticket at 80, in addition to just being unable to get out of floor 10 when the electricity goes out during a storm and heating and electricity go out.

Anonymous wrote: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.

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.

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.

Anonymous wrote:I read too many Elin Hilderbrand books. When I'm an empty nester, I want to move to a small cottage along the coast. A small beach community, but then live there year round as a local or townie.

That's what we did - moved to a town in Maine - and we love it.

Anonymous wrote:Anyone else considering it? We've been in the suburbs for 25 years and are looking forward to having an apartment in the city with so much walkability and culture nearby. Hoping we are in a financial position to keep our current house or downsize, so we have something to escape to and host larger family gatherings over time.

I plan to do this when I retire. My fantasy is to get a pied-a-terre in the Village. Need to make a lot more money to make that happen!

I'm thinking about selling my SFH in north arlington and buying a 2BR condo in DC when my daughter goes to college in 2027. I don't want to deal with the house or yard maintenance when it's just me living here. Daughter can stay in the guest room, and if she ends up having kids, that would be a ways off, and we can figure that out

The number one location people moving to Bethesda/Chevy Chase and Potomac from out of state is New York according to Redfin.

So even for people who love in DC a lot are from New York.

And when I hear moving to City it means Manhattan. DC is not even a city it is a district.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It works well if you have a vacation home outside the city where kids/grandkids can congregate for holidays.

Getting a room in a nearby hotel is much cheaper than trying to buy a 3rd bedroom for visiting guests, especially in NYC.

I know my DW would love to split retirement between NYC and a vacation home on the water.

No way, F that. Just rent a house when and where you need it. No need to hang an albatross around your neck.

This. You can just rent a large home for the holidays. You don't need to commit to one location. And trust me, your kids and grandkids will be far more likely to join and visit if its in a new and fun location.

+1. My in-laws do this. Different location every Christmas, and large enough to hold kids and grandkids. It’s always fun.

Same. We treat it like a vacation that we look forward to every year.

You do realize people from all over the country can have a small pied-a-terre in NY right?

It is a bit odd that 75% of the responses are about NYC.

I do think about moving to downtown DC…maybe CapHill…or leaving the area entirely.

I'm in NYC. I have several friends in their 50-60s who have recently bought pieds-à-terre or moved back here from the suburbs as empty-nesters.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It works well if you have a vacation home outside the city where kids/grandkids can congregate for holidays.

Getting a room in a nearby hotel is much cheaper than trying to buy a 3rd bedroom for visiting guests, especially in NYC.

I know my DW would love to split retirement between NYC and a vacation home on the water.

No way, F that. Just rent a house when and where you need it. No need to hang an albatross around your neck.

This. You can just rent a large home for the holidays. You don't need to commit to one location. And trust me, your kids and grandkids will be far more likely to join and visit if its in a new and fun location.

+1. My in-laws do this. Different location every Christmas, and large enough to hold kids and grandkids. It’s always fun.

We did this in our 50s, selling our suburban house and moving downtown. Eventually we bought a large second home in the country. Now we go back and forth to both and it’s great. Nobody without kids wants to spend any time in the suburbs.

We would do this but would miss country club amenities.

I know at least two different empty nest couples who have done this, in particular to be closer to grandkids who live in the city (but not need to actually stay over at their house). Seems to be going well.