That exhausts my knowledge of Shakespeare. But it is a valid question when you get to our age. And if you are on this web site, you are in a similar age.
We have a large house, about 3,000 square feet. We purchased the home almost thirty years ago, we needed the room for our four kids. But they’ve moved out and have their own homes and children. So why are we still here?
I guess the primary reason is that all four kids live within eight miles, and we are the primary babysitters for the seven grands. But if we remained in the area, we could still be here for them. But instead of walking ¼ mile to four of them, we may need to drive. So what are our options?
Immediately I naturally think of an adult community. To stay in town we have a choice of a mobile home community or two high end communities where homes cost between $500K and $800K. Neither of these is an option. Very close in the next town we have a choice of small detached homes 1000 sq ft to 1700 sq ft or attached condos of a similar size. Neither of these is a good option for us either. Within ten miles are a few viable options. Our favorite adult community is one. We can purchase a very suitable home for about $200K less than we would sell or home for. Taxes would be almost $3500 less per year. The monthly association fee would be about $230 or $2700 per year. What would we save? Not enough to be worthwhile. We would add a clubhouse with indoor pool and a gym. But I have a gym membership included with my Medicare Supplemental plan. We would lose our outdoor pool, the pool for colder weather is not a concern, my gym membership includes their indoor pool.
For us, moving to an adult community may not be an option. But if I could find the proper, smaller house in my neighborhood, I would consider it.