Might Be Moving To Country Early

[Nyboy]

Very good friends of mine got a job transfer to White Plains. They asked about being room mates, which I have no interest in living with others. I am thinking of renting them the whole house and moving to Lagrange. i know them for years and know how they live no worries house will be abused. I want to retire debt free rent would pay off mortgage early. Flip side would mean hour drive each way in all kinds of weather. My dad lives 20 minutes from work I can stay their in bad weather. Doing a lot of thinking

 

[seedcorn]

Sounds like a smart economic plan. Give them a one year lease, don’t like it, don’t renew. One year out of your life, no biggie.

 

[Ridgerunner]

That is a big decision. The success of your business probably has a lot to do with your personality and your being around o handle issues. What is your succession plan? How will things be handled if you can't be there? You may have some things to think about from this aspect.

It will mean a life style change. Your friends, restaurants, theaters, and normal activities will be further away. How will that impact your social life? Or just what you do after work?

You are going to go through a lot of that anyway, assuming you plan to move up there when you retire. There could be some advantages to working a lot of that out now before you retire so retirement isn't such a big shock.

Yep, lots of thinking required. it's not all financial.

 

[baymule]

Seedcorn has a good idea. A 1 year lease isn’t that big of a deal. But if you get snowed in, who will open up for you? Who will close if you have to leave early? Right now aren’t you working 7 days a week because your weekend employee quit?

Paying off house is a huge sigh of relief. It costs a lot to live and pay normal bills without house note. Are you going to sell city house and use that money to augment your retirement income? At some point in retirement you will have to buy a car, they don’t last forever.

 

[seedcorn]

@baymule In country, a vehicle is almost a must have. In city-even his country house is city-probably cheaper to “Uber”.

 

[Just-Moxie]

Thinking it through is the only way to go. Write out the pros and the cons maybe. Distance, travel, gas consumption, insurance changes, anything and everything.

 

[Collector]

If you have enough time maybe try living in Lagrange house for like 2 weeks solid. No going to white plains house , just operate out of Lagrange like it was your only place. It might give you some perspective on what it will would be like.

 

[so lucky]

I would be worried about that 1 hour commute (in good weather). In horrible weather...….Just a thought: is there a place you could camp out at the kennel in case of a snow storm or other weather emergency? Keep emergency necessities? Vodka, coffee and granola bars?
All those dogs who wouldn't be attended to in a snowstorm...I always imagine the worst case scenarios.

 

[digitS']

I think that it would be great to have two residences, however, I wouldn't enjoy being responsible for both.

I think that it would be great to have rental property and tenants that can be really trusted.

I think that it would be great to have a residential mortgage fully paid at retirement.

Steve

 

[Nyboy]

I would still work the 7 days my normal hours. I do have friends and family in Lagrange. I think the 2 week trial is a very good idea. Snow storms give advanced notice I could sleep and stay at kennel if I had to. My dad is not far away he would love for me to say with 1 or 2 nights a week.