As Sandtrap says, the time to go is the time to go. Being closer to your kids ... they will only be free to have that time, at that age, once. They grow up very very fast these days.I had a previous topic that I posted on to move or not, and it was very helpful to help me understand I must sell my current home to be able to move financially wisely. I realized I just can't afford to rent my home and move with high home prices we are facing today.
Now, this leads me to my current decision. My current house is located on an island in coastal South Carolina. It's been a rural place, but has changed dramatically in the last few years. A large volume of people have moved here! The area is really changing with more commercial property going up and a new elementary school, new restaurants, new medical offices, a new spinx gas station, a new city fire station, a new Harris Teeter. There's a big problem on the island with the infrastructure road system. There are one lane roads everywhere with tons of vehicles on the roads now, and the roads have not been updated! But, It's possible this area will be a very nice area in five years with the progression and changing. They have been fighting about an interstate that will connect to the island and that would really change the island! That may happen in the next five years too.
So, nobody has a crystal ball, but the question is whether to sell my home to move or not. I will add, I have a very nice home, in a very nice neighborhood on this island. The risk is if I sell, I will regret it later when they island progresses and becomes a nicer place. The new neighborhood is a nice neighborhood, already established neighborhood, closer to my kids (they live with their mom), closer to my work, closer to my church, closer to many businesses I frequent. The new home is very expensive, like all housing now in 2024, so I know it is not a wise financial move, but it would be good for my life at this time, just don't want to move, and regret the decision years later. Thank you.
"not a wise financial move, but it would be good for my life at this time" -- to me, that almost answers the question.
Sidebar
What is your flood risk in your current location? And hurricane risk?
Because that would be a big factor in my decision. To be frank, I expect a 1' to 3' sea level rise this century.* Since mortgages are typically 30 years in term, that means the sea level in 2055 now matters, and in 2070 we will be worrying about the sea level in 2100 (well, a future buyer of my home will be - my ashes will be relaxed
).But you don't have to take my view (scientific curiousity might make the casual reader do their own inquiries) and we can't have a discussion of it here (Forum rules). So you can take it as the mad ravings of some anonymous soul on the Internets ... discussion of who shot JFK comes next
But you can see the current flood risk, current effects of hurricanes -- without giving credence to my extrapolations. What the insurance situation is. That would be a big factor in my decision as to where to live, and whether to move.
* this isn't the most pessimistic case out there. A lot depends what we do/ don't do in the next 50 years. There's enormous hysteresis in these things (ie momentum).
Yes. And this puts a lot of England under water. And in fact Central London, most likely - but I believe, as with lower Manhattan, the real estate there is so valuable that ways to defend it will be found. But there are a lot of basement apartments, and I believe eventually that just won't be legal.
Statistics: Posted by Valuethinker — Mon Nov 25, 2024 4:57 am — Replies 4 — Views 422