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Author Topic: After Fulltiming, Then What?  (Read 11245 times)

jmarxen

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After Fulltiming, Then What?
« on: September 18, 2010, 11:05:08 AM »
My DW and I are thinking seriously about going fulltiming. We've owned several RV's of different types and have been looking for a good deal on a 40 foot diesel pusher suitable for full timing.

Our dilemma at the moment is our house. She is scared to sell it with the ideal what do you do when you'll too old to drive and don't have a house.

Has anyone else given any thought to this?

Thanks,

Jim & Nancy

rebecca62

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Re: After Fulltiming, Then What?
« Reply #1 on: September 18, 2010, 11:08:57 AM »
Yes  put aside money for the time when you may come off the road.a nest egg.Proceeds from ones house sale if you have it after buying a Rv.What we shall be doing is putting aside monthly for this. how we look at it is this. We are not promised tomorrow so aside from using wisdom,savings,enjoy life to its fullest.

Wendy

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Re: After Fulltiming, Then What?
« Reply #2 on: September 18, 2010, 11:11:35 AM »
My parents full-timed for over 18 years looking for "the right place" to settle down. Toward the end of that 18 years, they bought a piece of land. A couple of years later they built a garage and then later a small house. They still traveled 6-8 months of the year until last year. If we sell our house to go full-timing, we would put aside the money so that we could buy something if we decided to quit traveling. Important thing is to have an exit plan.
 
Wendy
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rebecca62

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Re: After Fulltiming, Then What?
« Reply #3 on: September 18, 2010, 12:12:34 PM »
That is the key.put aside money for when  or if one  has to come off the road.

Orick

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Re: After Fulltiming, Then What?
« Reply #4 on: September 18, 2010, 01:15:55 PM »
We sold our home a year ago and began full timing.  Our kids were gone and when we retired we just didn't need to have that big old, high maintenance house so we were going to down size anyway.  We fully intend to purchase another stick house at some point and that will probably be when/if the real estate market looks like it's turning around so we don't sell low and buy high.

Until that time, we're just having fun.  We expect we'll keep the coach even after we purchase another house.

Before selling our home, we were traveling about half time for a couple of years and it was a real pain having to worry about the house while we were gone... not to mention being really expensive.

Good Luck

Rick
Rick, Nancy, Peanut, Lola (Westies) & Bailey the Sheltie Dog
2007 Itasca Ellipse 40FD
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Pierat

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Re: After Fulltiming, Then What?
« Reply #5 on: September 18, 2010, 03:28:36 PM »
If not another stick house, maybe we'll travel until we want to be in a retirement situation with some community care, and more intensive care if needed later. Many call it an "exit plan" for when we "hang up the keys." There are lots of posts on the subject here and there.
We Have Hung Up The Keys!
Washington State

utahclaimjumper

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Re: After Fulltiming, Then What?
« Reply #6 on: September 18, 2010, 04:09:10 PM »
I guarantee you will "exit",, none of us will get out alive.>>>Dan
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Daisy

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Re: After Fulltiming, Then What?
« Reply #7 on: September 18, 2010, 04:27:06 PM »
In our case, we traveled until some minor health issues and age began to let us know it was time for some permanence in our lives.  However, we had sold our old house prior to full timing as we knew it would be far too big and expensive for us in our old age, as well as trying to keep it going while we played.  It was not an issue for us.  Where we ended up is almost a full continent away and I have absolutely no desire to go back there even with kids/grandkids/and now great grands there.  We love the area we have chosen and kids and grandkids can do the traveling as well as we can.   ;D  You can always find a house, there will never be a shortage.  Just save what you sell.  Chances are it will cost you half as much as you sell for since you won't need as big a house as you did while raising kids.  Different areas of the country may be far cheaper than where you are.  Lots of factors come into place.  Having a home in the end should not be an issue.  Some people are afraid to let go what is comfortable for them, and are not willing to except the unknown.  We are the adventurous kind and always figure out what to do when the time arises.  We always look to see what's beyond the next hill in life, knowing what is already behind us.  We can always find something new.  Others are able to continue full timing forever, finally settling down in a park somewhere that they enjoy while continuing to live in their RV.   Others have made other choices as well.  You will have to make the final decision, but hanging on to the house, with all the ramifications that come with rental/ownership issues, not being there to take care of the problems, etc. would not be one we would be willing to risk and enjoy our life as well.

Daisy 
   
Daisy.  Location:  Sometimes here, Sometimes there.  All depends on the mood of the moment!

Ned

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Re: After Fulltiming, Then What?
« Reply #8 on: September 18, 2010, 04:57:43 PM »
You're wise to think about your exit strategy now when you're starting out, but don't get too hung up on the details.  Others have given you good advice, put some money away in safe investments to use in the future for a home when you're ready to stop fulltiming.  We had a single stock that had done well for us over the years and had that earmarked for a future property purchase.  3 years ago we found a piece of land we liked and could be developed with some RV sites for now, and a home later if we desired.  So our investment was used to do just that.  We may put a house on the property some day, but for now it's a place to spend part of our winter season and if we can't travel some day, we always have a place to park.
-- Ned -- Fulltimer 1997-2013
1997 Holiday Rambler Endeavor LE
2007 GMC Canyon

Jeannine

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Re: After Fulltiming, Then What?
« Reply #9 on: September 18, 2010, 06:53:36 PM »
We used to think we would buy another stick house when the time came to hang up the keys.  (We've been fulltiming for 13 years.)  We  have lots in two RV parks--one in Arizona and one in Oregon.  For now, we spend 1-2 months a year in each park.  Eventually, we will start spending more time in each park and someday stay put in one of them or divide our time between the two parks.  Our current thinking is that we'll do that until we need assisted living, or some other type of care.  One thing we do know:  plans change!

A few years ago, when the housing market was peaking, we started thinking about buying property before we were priced out of the market.  We decided that we weren't ready to become property owners again.  Now, housing values in the areas we were considering have dropped a lot. 

The key to successful fulltiming is flexibility.  That applies to daily living as well as plans for the future.  Daisy said it well: "We are the adventurous kind and always figure out what to do when the time arises. "

Jeannine
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DonTom

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Re: After Fulltiming, Then What?
« Reply #10 on: September 19, 2010, 04:55:11 AM »
My DW and I are thinking seriously about going fulltiming. We've owned several RV's of different types and have been looking for a good deal on a 40 foot diesel pusher suitable for full timing.

Our dilemma at the moment is our house. She is scared to sell it with the ideal what do you do when you'll too old to drive and don't have a house.
IMAO, don't even think about selling your house "at the moment". This is a great time to buy a house and a lousy time to sell one. And even if home prices went up, I would still agree with your wife. If you can afford to keep it, do so, even if you won't return often. IMO, the days will return when your home is a good investment. You can probably save more money by keeping the house longer. Especially now, when home prices can't go much lower.

BTW, have you considered renting your home when you're full-timing? IMO, a full-timer can still own a home!

-Don- SSF, CA

-Don-   AA6GA

2000 Fleetwood Tioga 24D, 7.4L

Auburn, CA or Cold Springs Valley, NV or  Reno, NV

Jeff

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Re: After Fulltiming, Then What?
« Reply #11 on: September 19, 2010, 08:58:41 AM »
If Nancy is not ready to sell then definitely postpone the decision until you BOTH are ready. When we did sell our house and it really was the lifting of a great burden for us; not having to worry about the house, its security, and upkeep makes being away less worrisome.

When we finally decided we had found our winter home in AZ after five years we replaced the house with a RV lot and Arizona room. We looked at homes next door that were actually less expensive in the current AZ housing market but could not bring ourselves back to having house to worry about while we still intend to travel six + months a year. It is also hard to describe the activity and camaraderie of a RV community compared to a housing development.

Good luck on your travels.

Orick

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Re: After Fulltiming, Then What?
« Reply #12 on: September 19, 2010, 09:11:08 AM »
IMAO, don't even think about selling your house "at the moment". This is a great time to buy a house and a lousy time to sell one. And even if home prices went up, I would still agree with your wife. If you can afford to keep it, do so, even if you won't return often. IMO, the days will return when your home is a good investment. You can probably save more money by keeping the house longer. Especially now, when home prices can't go much lower.

BTW, have you considered renting your home when you're full-timing? IMO, a full-timer can still own a home!

-Don- SSF, CA

I used this same logic when I held on to my house from late 2005 when I retired until 9/2010 when I finally listed and sold it.  During that time it's market value lost 30% so I certainly "sold low".  Since I sold a year ago, according to Zillow it has lost another 5%.  I'd like to think real estate can't go much lower but I'm not convinced of that yet.

Rick, Nancy, Peanut, Lola (Westies) & Bailey the Sheltie Dog
2007 Itasca Ellipse 40FD
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Marsha/CA

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Re: After Fulltiming, Then What?
« Reply #13 on: September 19, 2010, 11:15:30 AM »
Jmarxkin,

I would also suggest you do not sell the house, especially if it's your wife that doesn't want to sell.  There are some people that try fulltiming and don't like it, then what do they do?  They have sold their house, their belongings and gotten ride of some things that are precious to them.  The reason that I know this is because we came very close to going fulltime and when it came right down to the decision, I didn't want to do it and my husband didn't want to at all. 

Be sure and check out the library in the fulltiming section, there are articles to read and more info to gather.

Marsha~
2017 Heartland Mallard IDM231 Travel Trailer....Small but mighty.

yolo

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Re: After Fulltiming, Then What?
« Reply #14 on: September 19, 2010, 11:38:12 AM »
We have purchased a small house while on the road this year.  We plan to return in a month or so and sell the big house.  It is in a gated/restricted community with lots to take care of (pool, large yard, etc).  The new little house is in a non-restricted community so we can keep the coach there when we are around.  We talked about selling out completely but my wife wanted some roots so we can live in the house 2 or 3 months a year and have a place to go when the time comes.  The house that we bought is a brand new house that was never finished and repossessed by the bank.  The price was right.
Bill Bell -- SW Florida

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Kim (skyking4ar2) Bertram

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Re: After Fulltiming, Then What?
« Reply #15 on: September 19, 2010, 04:50:15 PM »
We are possibly too new at this to give great advice, but did have all the same questions.

We actually kept our house because it was rented to great renters while we were on the East Coast working for two years. When we came back, we had moved into an apartment because we did not want to break the lease. Then, four months later, we stored all our good furniture, donated the rest to charity, picked up the motorhome and never looked back.

If we lose the renter, the house can be rented again, or sold, since it's worth what's owed on it and some change. If we have a problem with this life which we have committed to, then we can always move back.

We were repeatedly told "stuff" and caring too much about "stuff" would slow us down. Since we unfocused from "stuff" and joined the great community, we really are no longer concerned.

Everyone is different, and there was a ton of good advice posted previously. Use what makes good sense for you. We are not sorry one minute for making the leap (and it was a leap!). It has been the most uplifting experience of our lives and all the wonderful people we have met along the way, especially here on the forum, make it that way.

Best of luck!
Kim & Christi Bertram
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jmarxen

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Re: After Fulltiming, Then What?
« Reply #16 on: September 20, 2010, 09:58:25 PM »
Some great insight by everyone, we do appreciate the responses. It appears the decision boils down to three considerations:

1) Keep the house until after we do some full-timing. Make a decision.
2) Rent the house - this sounds like a variation of the first option.
3) Sell the house and get on with it.

Nancy is leaning toward the first option. We have heard horror stories about problems with renters. Years ago, we had a home in Raleigh NC that we kept after I got transferred to the Atlanta area where we bought the second home. We kept it for about six months vacant, but the insurance company almost doubled our yearly rate. We rented it and the insurance went down however the tenants complained about everything (The house was only about four years old at this point). We had troubles getting anyone to actually work on the house (Yes I live in Atlanta but I need work done on the house there - click). We ended having a real estate company manage the house for 10% of the rent and a 20% service fee for coordinating work on the house. What a pain. After the two year lease was over, we sold it. I don't believe this would be a viable option.

I agree that I'm not sure if housing prices have hit bottom. In our area (Foothills SC), the values of homes haven't gone down as much as other areas in the country, but in the last six months the number of homes in our neighborhood has increased quite a bit. Fortunately we have about a year to consider our options.

Again, thank you everyone - this is a very informative forum.

- Jim & Nancy

rebecca62

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Re: After Fulltiming, Then What?
« Reply #17 on: September 21, 2010, 09:19:41 AM »
We refuse to rent our home,selling it. too many hassles with renting,We can always buy another if we do not like full timing,

Orick

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Re: After Fulltiming, Then What?
« Reply #18 on: September 21, 2010, 10:58:59 AM »
We refuse to rent our home,selling it. too many hassles with renting,We can always buy another if we do not like full timing,

My feelings exactly.  Our decision was helped by the fact that we wanted to downsize anyway after retirement.  The place was just too big and expensive to keep for just the two of us.  While traveling most of the first two years of retirement we "rented" our house to our daughter and two of her college friends and even that drove me crazy.  ::) 

Rick
Rick, Nancy, Peanut, Lola (Westies) & Bailey the Sheltie Dog
2007 Itasca Ellipse 40FD
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rebecca62

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Re: After Fulltiming, Then What?
« Reply #19 on: September 21, 2010, 07:43:36 PM »
We would never rent  house out too many nighmare stories,

DonTom

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Re: After Fulltiming, Then What?
« Reply #20 on: September 21, 2010, 08:05:02 PM »
We would never rent  house out too many nighmare stories,
Which state you rent your house in makes a big difference. Here in CA, it all favors the renter when things go wrong. In NV, I hear it's the opposite.

-Don- SSF, CA
-Don-   AA6GA

2000 Fleetwood Tioga 24D, 7.4L

Auburn, CA or Cold Springs Valley, NV or  Reno, NV

Orick

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Re: After Fulltiming, Then What?
« Reply #21 on: September 21, 2010, 08:16:36 PM »
Which state you rent your house in makes a big difference. Here in CA, it all favors the renter when things go wrong. In NV, I hear it's the opposite.

-Don- SSF, CA

But either way, if there's a problem don't you end up in court?  Maybe the laws favor one in one state and another in a different state but either way it seems to be a hassle to me.

Rick
Rick, Nancy, Peanut, Lola (Westies) & Bailey the Sheltie Dog
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rebecca62

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Re: After Fulltiming, Then What?
« Reply #22 on: September 21, 2010, 09:06:46 PM »
No idea just know its not easy to kick someone  out of your home,we just dont want any hassles,taxes etc,

DonTom

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Re: After Fulltiming, Then What?
« Reply #23 on: September 21, 2010, 10:42:28 PM »
But either way, if there's a problem don't you end up in court?  Maybe the laws favor one in one state and another in a different state but either way it seems to be a hassle to me.Rick
In NV, I've heard you can simply call the sheriff to kick your renters out. In CA, dealing with the same issue can be a nightmare, takes months and a lot of money to kick out a renter .

I have met people who live in CA who rent only  in NV, because they have been burnt renting in CA.

In CA, I have even heard of people renting to close friends and getting the shaft big time. And are now enemies, of course.

-Don-
-Don-   AA6GA

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Auburn, CA or Cold Springs Valley, NV or  Reno, NV

Ray D

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Re: After Fulltiming, Then What?
« Reply #24 on: September 21, 2010, 11:06:30 PM »
I know too much about the residential rental subject to put it all here. I'll save that for the Stick House Rental Forum. I got rid of my rentals in California due to the nightmares. And, most of my renters were nice people, paid the rent, etc. That was in 1974. I can't imagine it has gotten any better.  >:( 
 
Came to Idaho. Not as bad as CA, but really rough, even here. Two evictions took more than 6 months, and both trashed the house in the process. Married a lady who had rentals across the border in Oregon. Man, don't go there!  :o  Had 6 rentals, all but one, good ones. That one was enough. Took a year, trashing the house in the process. I had to pause the eviction to defend myself for discrimination, in court. (I won, if you can call that winning.) Blew $20,000 plus, counting lawyers and repairs on the house. Sold out, and lost a bundle to Capital Gains taxes.  :'( :'( :'(  There is no right way to do this!  >:( 
 
That's only the headlines. But, I'll stop there.  :-\
 
Ummmm, well, maybe one more. About doing business with friends and family........
 
No, I'll not go into that. Belongs in the Doing Business With Friends and Family forum........  :-\  They want to buy it? Best to just give it to them!  ::)   ::) 
 
Ray D  ;D
« Last Edit: September 21, 2010, 11:19:13 PM by Ray D »
Boise, Idaho. U.S.A.F. Vet. Damon Challenger, Workhorse/Vortec, 2005 towing a Suzuki XL-7, 2003.

nomadgirl

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Re: After Fulltiming, Then What?
« Reply #25 on: December 30, 2010, 04:06:36 PM »
My husband and I have been full-timing for about 4 years now. We are fairly young and still work while on the road. We sold our house just because it wouldn't have made a good rental just because of the price point. We still own a rental property in Oregon and it can be a headache being far away. We have both been in real estate and property development/construction for quite a few years. You might consider  a lease/option on your house. There are a lot of people that can't get loans now and it is not because they are dead-beats. When someone leases to own they are invested in the property and they won't trash it, especially because you usually take a down payment from them that can be substantial and then that is applied to their final purchase price. Your final purchase price can be at market value because you are cutting them some slack and creating an opportunity for them to own that they may have not had otherwise. You can take it out two years or write it up so that they can purchase the house as soon as they can qualify with the bank. Meanwhile they live their and do all the repairs/maintenance. If in the end they can not buy the house for some weird reason, the contract is written so you just take the house back because it is still in your name. It can be a real win/win. We have done it with success before. Something to consider. 

pdq

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Re: After Fulltiming, Then What?
« Reply #26 on: December 30, 2010, 08:23:28 PM »
hi Jim & Nancy:

we will full time in a year from now
our plan is to sell the house
and yes, put money aside is a part of the plan

BUT....
(and yes that is a big but)

it is important to remember that life is that thing that happens when you are thinking and/or planning something else
so yes, make a 'plan', but know that we must live in the moment and plan base on what we know now
(I hear the future looks bright!)

regards, peter
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saddletramp1200

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Re: After Fulltiming, Then What?
« Reply #27 on: January 11, 2011, 09:06:15 PM »
Hi, I still full time. I sold my coach and got a park model travel trailer. Got an acre, and put in a power pole. I face the same problems as the rest of the Framily. Key is to talk to a CPA or something in that ave. If I go somewhere I have to deal with the air port.
If I had just a little more duct tape and a longer screwdriver!
I always have the time, if You need the help!

rvpuller

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Re: After Fulltiming, Then What?
« Reply #28 on: January 14, 2011, 09:36:25 AM »
Jim & Nancy what we did was keep the house for a homebase, I was ready to sell but Jami wasn't so we worked at making the house as maintenance free as possible but if we find somewhere else that will work as a homebase we would sell it and change locations. After 5 years we have spent as little as 5 weeks there and as much as 4.5 months. We have all our medical and dental appointments set up for May so we plan our travels around that month. Our situation is different from most because our house is small. pay for, next to COE Lake, in a small town in the middle of the country (SC Nebraska) and we like the area.  From the others on the road that we have talked to that have some of their stuff in storage it cost us about the same to keep the house and store our stuff there. I could go forever on what we did to make it work for us but everyone was a different situation so yours well be different than ours. The most important advise I can give you is stay fixable and make sure that your are both on board with your final decision and don't get hung up on whether you fit the definition of a fulltimer just do it your way.

Denny         
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Rotaryrich

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Re: After Fulltiming, Then What?
« Reply #29 on: January 30, 2011, 10:06:14 PM »
I buy and sell real estate.  This is not a good time to be doing that.  So, before I became another statistic I sold my home and plan on paying cash for an RV.  Already own, clear and free, the tow vehicle.  Exit plan in one of several.  Travel until the market improves to where making a living is not a problem or until I find a job that will make me happy and pay my living expenses.  I currently have no debt but I do have some residual income and enough money in the bank to do this for as long as I want.  I'm just going to follow the warm weather around the country, visit friends and check out the sights for a while.  My exit plan isn't etched in stone but one that fits my situation.  I'll be hitting the road in April or May.  Hope to see some of you out there.
Rich & Mandi - A boy and his dog singing "On The Road Again".

 

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