Retirement Home Conundrum Poll

[Craig T]

It's time to make a big decision regarding our impending retirement. It's not very practical to stay in our current home after we retire, so we are going to downsize....But the question is where? I'm hoping some of you who have lived both in So Calif and the Southeast might chime in.

My wife is from Charleston, SC and we visit often. I like the area, and it's a MUCH lower cost of living then here in So Calif. We could pay cash for a nice retirement house there with the equity we have here. But, my being born and raised in So Calif, I'm not sure I would like the heat, humidity, and bugs. My hobbies are golf, fishing, and of course Porsches, so weather is HUGE to my quality of life.

Our choices are...1. Staying in this area under more budgeted conditions. 2. Moving to SC without much change in lifestyle.

There are a couple areas we are considering...Mt. Pleasant (nice Charleston suburb), Beaufort/Hilton Head, and up by Ashville, SC.

[scottmandue]

I'm in the same boat (see my thread about moving to Portland OR)
Retiring in four or five years.
Like you I am native to SoCal and thus addicted to our (almost) perfect weather... and in my case wife is a native Oregonian but I am worried how I will fair with sunshine only 1/3 of the year.
Also like you we can sell, pay off the mortgage and be able to buy a house outright someplace else (very desirable for retirement) but where?
This is an "all in" bet, who wants to retire, move, the find out you don't like where you are and deal with the expense and hassle of moving again? Frankly, we are middle class folks and most likely WON'T be able to move so we really have to be sure on what we do and where we end up.

Looked at Utah but wifey hates the heat so can't go anywhere too warm (100 plus temps for weeks is a no go).

[JavaBrewer]

Excluding the price of homes (assuming yours in SoCal is paid off) how much lower cost of living would you, retired, realize in SC? Or is this strictly about the house you can afford to retire in?

[Seahawk]

Originally Posted by Craig T

But, my being born and raised in So Calif, I'm not sure I would like the heat, humidity, and bugs. My hobbies are golf, fishing, and of course Porsches, so weather is HUGE to my quality of life.

Our choices are...1. Staying in this area under more budgeted conditions. 2. Moving to SC without much change in lifestyle.

There are a couple areas we are considering...Mt. Pleasant (nice Charleston suburb), Beaufort/Hilton Head, and up by Ashville, SC.

I am from Ventura County, moved to SC as a junior in HS, moved back for college and my first tour in the Navy. I now live in Maryland, have since 1988. So I can chime in.

Where in Ventura County are you?

Don't move!

But if you do, the areas around Ashville are doable. My Sister has a house near Brevard, NC in Pisgah Forest. Great place, water fall on the property, etc. I couldn't live there year round.

Look at Aiken, SC. while you are there.

What I'm looking at: Keep the farm here or buy a house in Aiken, find another place for the summer. I can't stand the summers here, the humidity is air you can wear. The only difference between here and the deep south is the amount of time the weather is miserable.

I'm looking in Hamilton, Mt, other places west for the summer.

If your wife is set on moving back south, I completely understand. Try to get a toe hold some where to get out of the humidity.

[5String43]

This poll is talking to me but I have a problem with the way it is worded. It mentions moving from SoCal to a less desirable area. For me, SoCal has become less desirable. We're looking at the Gold Country foothills of NorCal for less traffic and congestion - for us, it is a more desirable area. I also think Reno would be a great place for a retired couple to live. We shall see.

[Jim Richards]

Given the choices you mentioned, I'd stay in SoCal if at all possible. I've lived in the Southeast or Mid-Atlantic for the past thirty years. Hot and humid with bugs just doesn't work for me.

[Aragorn]

Based on your criteria, Charleston seems like it ticks all your boxes. Nice climate, plenty of golfing opportunities (especially in Myrtle) and fishing.

Charleston Golf Trip Guide by Travelin' Joe Passov - GOLF.com

The average price for houses in the Mt Pleasant area seems to be $350k and up for around a 3 BR 1&1/2 BA nice looking home. North Charleston seems to be much cheaper though. Most of the homes there seem to be in the under $100k range. The average winter temperature ranges from the upper 50's to lows in the 40's which isn't too cold for a few months of the year.

If I had family in the area, I would really consider Charleston too. Beautiful town with just enough things to keep you entertained and busy.

[Hugh R]

Same boat, retiring in less than five years. 35 years in SoCal, before that Boston. I'm thinking six months minus one day in our Oxnard (Ventura County) condo, (no CA income tax) near the beach in the Winter seasons and the rest in some place like Idaho. I don't want oven door hot, bugs, humidity or brutal cold. So I guess I'll sort of stay here.

[Craig T]

Originally Posted by JavaBrewer

Excluding the price of homes (assuming yours in SoCal is paid off) how much lower cost of living would you, retired, realize in SC? Or is this strictly about the house you can afford to retire in?

Good point JavaBrewer, but it's more than just the quality of house I can retire in. It's about what can I do with the equity I have now. Don't underestimate the power of home prices.

I agree, home prices aside, the cost of living reduction may only be 10%, with higher summer and winter utility cost, maybe not even 10%. But...The current equity in my house is enough to pay cash for a very nice house in a golf community in Beaufort SC, pay cap-gains on the remainder, and still have a couple years of retirement income left over. That's huge.

If I stay here what does that equity get me? Although mortgage free yes...Just a smaller house. Do I want to go from what I have to a $700K one bedroom condo in Marina Del Rey, or a four bedroom tract house in Vista or Rancho Bernardo? No.

Your living in from San Diego, my mortgage in the Santa Rosa Valley probably wouldn't surprise you JavaBrewer, but how about when your income comes to a dead stop? Neither my wife nor I have a pension. We need to do it on 401K's, personal saving and investments...and the equity in our house.

[porsche4life]

Reno is a good suggestion. I spent most of July there last year and it never got unbearably hot. There is lots to do in the area, and quite a few flights out for not too much money. Seems like a good place to retire to me. . Housing is pretty cheap too.

[Craig T]

Originally Posted by scottmandue

I'm in the same boat (see my thread about moving to Portland OR)
Retiring in four or five years.
Like you I am native to SoCal and thus addicted to our (almost) perfect weather... and in my case wife is a native Oregonian but I am worried how I will fair with sunshine only 1/3 of the year.
Also like you we can sell, pay off the mortgage and be able to buy a house outright someplace else (very desirable for retirement) but where?
This is an "all in" bet, who wants to retire, move, the find out you don't like where you are and deal with the expense and hassle of moving again? Frankly, we are middle class folks and most likely WON'T be able to move so we really have to be sure on what we do and where we end up.

Wow Scottmandue, we really are in the same place, even the same timing. You're right. It's a "all in" bet, and I'm losing sleep over it. I'm actually thinking of biting the bullet now and buying a small condo in Hilton head, SC, something we can rent out to snow birds. We can spend a lot of time there over the next couple years just to be sure. If we don't like it we can sell it and start re-thinking this.

[Seahawk]

Originally Posted by Aragorn

Based on your criteria, Charleston seems like it ticks all your boxes. Nice climate...

With all due respect (so we know what is coming next) YHGTBSM!

Nice climate!?! Charleston is where bugs are from. The air is so thick in the summer we call it a "costume".

The OP is from Ventura County. Depending on where he lives, he has never sweated in his life, central air conditioning is a mystery and humidity is something that comes in a machine when you have a head cold.

Nice climate?

Summer lasts from April to October, with Spring and Fall thrown in willy-nilly. One runs from air conditioning to air conditioning in the six/seven months of summer. Outside, walking slowly with great care, one sweats like a redneck writing a love letter.

The OP lives in a nice climate. Charleston is the tropics.

[Craig T]

Originally Posted by 5String43

This poll is talking to me but I have a problem with the way it is worded. It mentions moving from SoCal to a less desirable area. For me, SoCal has become less desirable. We're looking at the Gold Country foothills of NorCal for less traffic and congestion - for us, it is a more desirable area. I also think Reno would be a great place for a retired couple to live. We shall see.

I was really referring to the weather and lack of certain conveniences of a small town. I was not referring to the people or culture. As a population, almost anywhere else is better than SoCal.

[sammyg2]

"less desirable" is relative. There are plenty of places that are MORE desirable than the people's republik of kalifornia, other than climate.

And when I retire in 8 years I plan to move to one of them.

[sammyg2]

Originally Posted by Seahawk

With all due respect (so we know what is coming next) YHGTBSM!

Nice climate!?! Charleston is where bugs are from. The air is so thick in the summer we call it a "costume".

The OP is from Ventura County. Depending on where he lives, he has never sweated in his life, central air conditioning is a mystery and humidity is something that comes in a machine when you have a head cold.

Nice climate?

Summer lasts from April to October, with Spring and Fall thrown in willy-nilly. One runs from air conditioning to air conditioning in the six/seven months of summer. Outside, walking slowly with great care, one sweats like a redneck writing a love letter.

The OP lives in a nice climate. Charleston is the tropics.

LOL,

[stomachmonkey]

I'm just going to move to Florida and die.

Seriously, why work all your life so you can retire and "wait it out".

I say do what makes you happy.

[JavaBrewer]

Originally Posted by Craig T

Good point JavaBrewer, but it's more than just the quality of house I can retire in. It's about what can I do with the equity I have now. Don't underestimate the power of home prices.

I agree, home prices aside, the cost of living reduction may only be 10%, with higher summer and winter utility cost, maybe not even 10%. But...The current equity in my house is enough to pay cash for a very nice house in a golf community in Beaufort SC, pay cap-gains on the remainder, and still have a couple years of retirement income left over. That's huge.

If I stay here what does that equity get me? Although mortgage free yes...Just a smaller house. Do I want to go from what I have to a $700K one bedroom condo in Marina Del Rey, or a four bedroom tract house in Vista or Rancho Bernardo? No.

Your living in from San Diego, my mortgage in the Santa Rosa Valley probably wouldn't surprise you JavaBrewer, but how about when your income comes to a dead stop? Neither my wife nor I have a pension. We need to do it on 401K's, personal saving and investments...and the equity in our house.

Oh I totally understand what you're saying. Wife and I have a similar retirement financial picture. So it comes down to home prices. You sell your current home for say $1 USD. If you stay in SoCal you buy your retirement home for .75 cents leaving you .25 cents living money or buy your retirement home elsewhere for .25 cents and have .75 to live with.

Unless you are really familiar with the immediate area in SC you are looking at I would tread carefully. Ventura/Oxnard/Carpinteria/Santa Barbara set a pretty high bar when it comes to overall appeal. I would rather go into a cheaper home (condo) and stay local then move into a fancy community and home in SC.

Nothing against SC - I have been to Charleston before and really liked what I saw. Just not on the same level IMO. YMMV.

[Aragorn]

Originally Posted by Seahawk

With all due respect (so we know what is coming next) YHGTBSM!

Nice climate!?! Charleston is where bugs are from. The air is so thick in the summer we call it a "costume".

The OP is from Ventura County. Depending on where he lives, he has never sweated in his life, central air conditioning is a mystery and humidity is something that comes in a machine when you have a head cold.

Nice climate?

Summer lasts from April to October, with Spring and Fall thrown in willy-nilly. One runs from air conditioning to air conditioning in the six/seven months of summer. Outside, walking slowly with great care, one sweats like a redneck writing a love letter.

The OP lives in a nice climate. Charleston is the tropics.

I spent many a summer day in the Charleston area, and didn't find the heat or humidity that oppressive or tropical. I kind of liked it after the cold winters spent up north.

Besides, he stated in his original post he has family around Charleston and visits often so I kind of assumed he knows and likes the area (climate included.)

[Craig T]

Originally Posted by Seahawk

The OP is from Ventura County. Depending on where he lives, he has never sweated in his life, central air conditioning is a mystery and humidity is something that comes in a machine when you have a head cold.

LMAO!!! Hilariously sarcastic as that is...It's very close to the truth! I've run my A/C maybe five days in three years...and the heater only marginally more. Their are zero flying insects other than the occasional fly or mosquito, and the ocean breeze blows them inland. I have an acre of avocados and citrus, and my neighbor grows Pinot Noir!

[Jim Richards]

It sounds like you've hit the location jackpot, Craig!