Houses

After reading Kristine’s post on luck and timing, it brought to mind the one opportunity we passed over that cost Suzie and me a seven-figure sum. It’s come to mind on occasion over the years. Although it causes me a pang of regret, it’s not really something I dwell on.
It was during the Irish property boom that started in 2000 and peaked in 2007. Property values tripled, driven by the peace process and deregulation of the local financial markets.

Longtime readers of Humble Dollar will know a semi-recurrent theme to my writings involves the idea that luck, timing and not-following-certain-financial-rules have helped shape my financial journey. 
Perhaps most notable is the purchase of a home I made in late 2018. I was well-acquainted with the rule that stated nobody should purchase a home if they don’t intend to live in it for at least five to seven years. And yet I really had no choice.

I wanted to share this article and I hope our dear HD readers comment and tell us if they are doing what is suggested in the article and how it’s working out.  I am at the beginning of trying to figure out my housing options and what is described in the article sounds good.
https://www.wsj.com/lifestyle/relationships/new-housing-options-emerge-for-older-americans-dfa4c8f5?st=Sp9vyR&reflink=desktopwebshare_permalink

It’s time to rewatch the 1986 Tom Hanks/Shelley Long cautionary tale about their dream house gone wrong.
After spending last year’s home improvement efforts on my newly-acquired tin can casita, my used car of a fishing cabin in the Sonoran Desert, I’m back in the city for some long-pondered home renovation. It ain’t been pretty, at least when I review the hit to my portfolio. Everything from a piece of lumber to a square foot of cement is more expensive than I’d imagined.

The daughter of a close family friend got married a few months ago. My wife Suzie and I recently had dinner at the newlyweds’ home. It was a lovely evening hearing the details of their honeymoon to New York and onward to Mexico.
Being a keen observer of the human condition, although Suzie suggests I’m just nosy, I couldn’t help but notice the material abundance this couple starting out in life have already acquired. It’s a stark contrast to our own humble beginning to married life.

HOME EQUITY ROSE sharply since 2020 for most states, up 450% in West Virginia, the biggest change in the US.
The average homeowner currently has $313,000 of equity, according to the Mortgage Monitor report.
While that number is likely skewed, we all can agree that many homeowners are sitting on large equity.
And, there likely will come a time when you have to sell your home to either move elsewhere, upgrade, or downgrade. With such large equity also comes another problem –

I’m still at my vacation home, but the season is drawing to a close. The flock of summer visitors have flown back to the real world, to their bustling, busy lives. A vacation home is a funny old thing, isn’t it? A temporary nest for most, a place to perch for a week or two before the demands of reality call them back.
But there’s a small, peculiar flock of us who have decided to linger a little longer,

I thought it would be fun to use AI to help me understand why many of us seem to believe that the best place to fulfill our desire to live “independently” is by aging-in-place in our homes.
To see the questions and answers, click on either link below. They are both the same. The words in purple are the prompts or questions.
Scroll to read the AI response. Sign up for POE only if you want to ask questions directly.

I just read an excellent synopsis of continuing care retirement communities on the Morningstar website. I figured since this a frequently addressed topic on the HumbleDollar this article may be helpful for some. I have already bookmarked it for myself for future reference.
https://www.morningstar.com/retirement/is-continuing-care-retirement-community-right-you?utm_source=eloqua&utm_medium=email&utm_campaign=MorningDigest&utm_content=None_66051&utm_id=34267

AGING IN PLACE (So we thought)
Our journey started in the late 1980s with our first remodel. It was our second marriage, and rather than asking our teenage children to share a bedroom when it was “my weekend”, we created two bedrooms and a full bath on the lower level of our split-level. It was a suite with adjoining bedrooms and a private bath. That brought our bedroom count to six, making room for everyone.

A few weeks ago I wrote about relocating upon retirement and concluded it isn’t for us. 
This summer we are getting to test that conclusion. We are spending the entire summer at our place on Cape Cod, which means several months away from our routines, church, friends, golfing buddies and mostly family. I suppose if we moved here we would become accustomed to many things, but not being six hours away from family, let alone a three hour plane ride,

The National Association of Realtors forecasts that by 2035, close to 70% of homeowners might have gains exceeding $250,000 and 38% of them will have more than $500,000.
Per AI
I just read an article in which it was reported that in comments to the press on Tuesday the President suggested he is considering eliminating capital gains taxes on the sale of homes.
The article reviews the rules to claim this benefit which is definitely in the near(er) future for Humble Dollar readers
If you have lived in it as your primary residence for at least 24 months (consecutively or not) in the previous five years before you sell it,

I’m booking flights at the moment. Suzie and I are heading to the South of England to visit my brother-in-law and family in a couple of weeks’ time. They’ve just recently hit a major life milestone by purchasing their first home together, and we’re looking forward to getting a tour by the proud owners. I’m very happy for them; I’m also very happy for myself because I’m getting free accommodation by staying with them.
My brother-in-law is in his mid-forties with a wife ten years younger and has expressed nervousness at taking on such a large debt at his age,

Excellent article about DIY. My question to all HD readers: What are you willing to do instead of paying someone else to do it?

From the Wall Street Journal this morning: More than 1,000 families have lost a total of at least $190 million in 16 bankruptcies at continuing-care retirement communities since March 2020, according to a Wall Street Journal analysis. Chapter 11 filings rose during the pandemic period primarily because these facilities didn’t have enough new move-ins. And because of the way bankruptcy proceedings work, secured creditors get paid before residents.
I ended my online subscription to the WSJ a few months ago,