It’s a good idea to do a lot of research before leaving for greener pastures not related to job requirements, before taking the plunge.
The Wall St. Journal recently had an article on retirees who moved to what they thought would be an ideal new environment and spent lots of money for their “forever” home, only it wasn’t forever…
“…some experts urge buyers to learn as much as they can about a new location before shelling out for a home. “It’s OK to take a couple of years to explore other areas and don’t jump in immediately,” says Mike Leverty, a financial adviser in Hudson, Wis. He advises his clients to rent in the area where they think they want to live, even if it is only part time. “You really have to view it as a second home and not a vacation,” he says. “Factor in amenities like shopping and healthcare—things you wouldn’t think about if you just vacationed there for a couple of weeks.””…
"The Browns began their forever-home quest in 2011, when they sold a bed-and-breakfast in Annapolis, Md., that Mrs. Brown had operated since 1997…
The Browns found their first forever home in Southport, N.C., near the Intracoastal Waterway. They paid about $200,000 for land and another $400,000 to build “the nicest place we have ever lived in,” Mr. Brown says. Still, the nearest big city was Wilmington, N.C., over a half-hour away. “We loved the area and our home there, but it was isolated,” Mr. Brown says. “We were accustomed to good restaurants and the theater, and the like.”
“While living in Southport, the Browns traveled west to Asheville, N.C., for a tennis tournament. Driving around, they realized Asheville offered the best of both worlds—the trappings of city life and the outdoor activities in the beautiful Blue Ridge Mountains. So, they sold their Southport home for $480,000 in 2016.”
“Where we got clobbered was the purchase price of the lot,” Mr. Brown says, which the couple had purchased right before the recession of 2007-09. “When we left, the value of the lot had fallen about 50%.”
"The couple spent about $470,000 to build their second forever home, situated on the side of a mountain about 15 minutes from downtown Asheville. To stay busy, both Browns took part-time jobs, volunteered and pursued their hobbies. “But despite being a nice area, we had a tough time breaking into the social arena,” Mr. Brown says. “I didn’t click with the different types of groups. I thought, ‘Maybe this isn’t the place for us.’ ”
“That realization led to their third—and current—forever home. In 2019, the Browns sold their house in Asheville for about $570,000 and moved to the Villages, a sprawling 55-and-older community in central Florida.”
Article may be paywalled:
What were these people thinking? First they decide that country living and relative isolation is just the thing, then eventually wind up in the Villages, an ultra-regimented, planned activity retirement community in Florida (subject of an ultra-depressing documentary lampooning things like a precision golf cart drill team. With aged cheerleaders.