Condo vs House

We bought a condo for retirement, but feel a bit isolated on the 4th floor? My wife thinks we should sell and buy a house.

What is best for retired couples? Condo? House? Townhouse?
 

I would have a condo over a house because I'm getting where can't keep a yard up. Can't see to cut grass anymore.
Do you find that it gets lonely and impersonal? This is my first time in a condo (and a beautiful one) but I feel stacked up. I had a townhouse before and liked it except for the stairs. At 70, they will eventually get to me.
 

My cousins (retired in their 80s) have a condo in Florida. They love it. My cousin, Carol, has macular degeneration, so the place is easy for her to navigate. Plus their place is across the street from a shopping center that includes a grocery store. Carol's vision is still good enough that she can walk to the store, and she knows she can ask for help if her hubby not able to go.
 
What is best for retired couples? Condo? House? Townhouse?

It all depends upon your general health. If you are fit and fairly healthy, having a house is good.....IF you can do the yard work, etc. If you have health or age issues, renting a condo or Apartment is your best option.

We live in a rural area, and have 40 acres of forest. Living here is Great, but I can see the day coming when I get too old to keep this place up. When just cutting the grass starts to become a major problem, I see little choice but to sell out, and move to an apartment.
 
For me, if age & health were issues, I'd be more concerned about being on the first floor so I wouldn't have to worry about getting out quickly if I had to - like in a fire. I wouldn't really care if it was a house, condo or apartment, or if I owned or rented.
 
My preference is to rent an apartment and invest my money in fairly conservative balanced funds. I like it because I’m only obligated for the term of the lease. The monthly rent is not significantly different than the costs associated with home ownership.

As others have said it’s a very personal decision with many variables. Do what makes sense to you and your wife. Sometimes happiness doesn’t have to make perfect financial sense.

Good luck!
 
45 years ago my doctor told me to stay off stairs. That is pretty nearly impossible here in our part of Canada, Basements are the norm. So we sold the house with basement and bought a mobile home in a senior park. Everything is on one floor, there are 3 steps down from the deck, beats the heck out of the stairs to the basement. That was nearly 16 years ago and we love it still.
 
I bought a bottom floor condo and love it. I have 2 parking spaces that are reserved for me and the people at the office make sure nobody uses them unless I agree to it. I have made friends with the office staff and the maintenance man takes my trash to the dumpster and brings my mail each day. No more mowing the yard which I loved to do years ago when I was able. Works for me.
 
45 years ago my doctor told me to stay off stairs. That is pretty nearly impossible here in our part of Canada, Basements are the norm. So we sold the house with basement and bought a mobile home in a senior park. Everything is on one floor, there are 3 steps down from the deck, beats the heck out of the stairs to the basement. That was nearly 16 years ago and we love it still.
We did the same thing when we retired 22 years ago. We are in Florida and a few years ago I put up grab bars in all the entrances as both me and my wife are finding it hard to get up our few steps into the house. We also love our place.
 
It all depends upon your general health. If you are fit and fairly healthy, having a house is good.....IF you can do the yard work, etc. If you have health or age issues, renting a condo or Apartment is your best option.

We live in a rural area, and have 40 acres of forest. Living here is Great, but I can see the day coming when I get too old to keep this place up. When just cutting the grass starts to become a major problem, I see little choice but to sell out, and move to an apartment.
 
Maybe a townhouse would be better option. That would give us some independence but without the yard work. Of course there is the issue with the stairs, but nothing is perfect. Fortunately, my knees are great right now, but the future could change that. On the other hand, my mom had good knees her whole life, but she lived in a one story house. It's not simple.
 
It all depends upon your general health. If you are fit and fairly healthy, having a house is good.....IF you can do the yard work, etc. If you have health or age issues, renting a condo or Apartment is your best option.

We live in a rural area, and have 40 acres of forest. Living here is Great, but I can see the day coming when I get too old to keep this place up. When just cutting the grass starts to become a major problem, I see little choice but to sell out, and move to an apartment.
Don, one more question. Did you reach a point where you slowed down and relaxed. I'm still in the "Have to go to work" mood and there's no real work for me in this condo. I put up new blinds two days ago and was totally happy for a few hours. But that is kind of the last big chore for awhile. How long did it take you to relax into doing less?
 
Don, couldn't you just pay someone to do the mowing for you? We've paid a great mower for many years - now its their son Pedro...to mow 6 acres. Told hub when he kept trying to mow it, that it was like joining the Navy and getting the job of painting the boat, by the time you were through it was time to start painting again...lol.
 
45 years ago my doctor told me to stay off stairs. That is pretty nearly impossible here in our part of Canada, Basements are the norm. So we sold the house with basement and bought a mobile home in a senior park. Everything is on one floor, there are 3 steps down from the deck, beats the heck out of the stairs to the basement. That was nearly 16 years ago and we love it still.
Doesn't a mobile home get cold in Canada? Maybe I'm thinking about the kind that they make in Florida.
 
My cousins (retired in their 80s) have a condo in Florida. They love it. My cousin, Carol, has macular degeneration, so the place is easy for her to navigate. Plus their place is across the street from a shopping center that includes a grocery store. Carol's vision is still good enough that she can walk to the store, and she knows she can ask for help if her hubby not able to go.
That is everyone's dream in Florida to have a home across from the grocery. We chose one about five miles away. It doesn't matter so much now, but will in a few years. My wife is ten years younger, but looking forward, walking to the grocery would really be nice.
 
I bought a bottom floor condo and love it. I have 2 parking spaces that are reserved for me and the people at the office make sure nobody uses them unless I agree to it. I have made friends with the office staff and the maintenance man takes my trash to the dumpster and brings my mail each day. No more mowing the yard which I loved to do years ago when I was able. Works for me.
Your situation sounds ideal. I wish that we had gone for the bottom floor. You are a little more connected with the earth than up several stories. Also you can carry the groceries directly inside. It sounds more like house than an isolated condo.
 
My preference is to rent an apartment and invest my money in fairly conservative balanced funds. I like it because I’m only obligated for the term of the lease. The monthly rent is not significantly different than the costs associated with home ownership.

As others have said it’s a very personal decision with many variables. Do what makes sense to you and your wife. Sometimes happiness doesn’t have to make perfect financial sense.

Good luck!
I was just thinking about your comment. Between the HOA payments, insurance and taxes, I could pay a substantial part of condo rent. I never thought of that before. We have nobody close to leave this place to, so renting might make sense. Then, we'd have the option to leave at the end of the lease and find something that suits us better, without paying 6% each way to a realtor. On the other hand property values are skyrocketing here, so... it's complicated.
 
For me, if age & health were issues, I'd be more concerned about being on the first floor so I wouldn't have to worry about getting out quickly if I had to - like in a fire. I wouldn't really care if it was a house, condo or apartment, or if I owned or rented.
I'm really thinking that first floor is a better option. There is more contact with the ground-- more like a house and you can get the groceries in very easy. It's hard for me to suddenly begin thinking like a senior, rather than a worker. But at 70, it's time.
 
Doesn't a mobile home get cold in Canada? Maybe I'm thinking about the kind that they make in Florida.
I am in a mobile home here in Ontario Canada and have both a gas fireplace and a gas furnace. Mostly the fireplace is the only heat source on except in the coldest weather. My heating bills on the gas budget are $60 month. And the home is nice and toasty.
 
I always hated yard work. Now I miss it. Ironic.
If your condo has a balcony and you're allowed to have plants there, you could make a hobby of growing unusual ornamental plants or some vegetables and herbs, maybe even a small fruit tree.

After reading through all the posts I'm wondering if you can "trade" condos at some point. Here in California, if a condo owner finds their place is too large or too small, they need to be on the ground floor or nearer their storage unit or whatever, they have the option to negotiate terms on a more desirable unit within the complex. Maybe that option is available to you.
 


Back
Top