It bothers me. When we started planning for retirement years ago we compromised on selling our current home and buying a condo. That way, we could lock the doors and leave without worrying about who’s going to mow the lawn or pull the weeds. That was a great plan – five years ago.But a slow housing market and the realities of condo life have conspired to cause us to rethink this plan. The rental units – a significant source of our retirement income – still take day to day maintenance, which Paul does himself. That means he needs tools. That means he needs a garage. Not sure we want the HOA police knocking at our door if Paul leaves the lawnmower on the front lawn.
The day may come when the housing market turns around and we can sell our high-maintenance rentals for lower maintenance rentals. Until that day, we’ve decided to keep our current home as “home base.”Add another line item to the retirement costs: we’ll need to pay someone to take care of our home and maintain the rentals while we’re off camp-hosting.