Being a long upstate, er I mean central NY, well almost western NY resident we have found over the years that indeed many who want to retire and move other places realize their house that they didn’t pay as much for also has not gone up in value as much as other places have continued to do so they can’t afford to sell their place and move to a HCOL or MCOL area. While house prices are very affordable here, those that want to move elsewhere in retirement need to plan to save a bundle on the side or need to be able to afford a mortgage late in life to go places where home prices have risen. My 1900 sq ft 3/2/2 on 3/4 of an acre on a cul de sac cost $124K in 1995 and would sell for about $340K now (not many on market now though). The same house elsewhere would be much more. Even if one downsizes 340K won’t buy much many places. PS. If we sold we would include our two stage cub cadet snowblower and roof rake.We've pretty much decided to stay in Upstate NY for our retirement. Albany area, but not in Albany. We like this area well enough. It is big enough to have all modern conveniences, but small enough not to feel overwhelmed by people. The nickname is Smallbany.
I can get to the airport in 10 minutes. I can get to the countryside in 10 minutes. The Amtrak station is about 20 minutes. NYC, Boston, Montreal are about a 3 hour drive. On the rare occasions we visit NYC, we take the train.
Originally we thought we might move back to Colorado. We both grew up there. But house prices and traffic are crazy there now. I wish there were more direct flights from Albany to Denver. Maybe one day.
The definition of "upstate" is interesting. One definition might be not having to pay NYC income tax. But Lake effect snow might be a reason to define a western NY. I'm not sure what medical facilities are like north of us, so you could define a northern NY.
Honestly we are pretty much trapped here. House prices have not changed much. So a house similar to what we own would cost more someplace else. And the darling one is happy with doctors and hospitals. Again, 10-15 minute drive. Less if you have to use a vehicle with flashing lights.
Statistics: Posted by Parkinglotracer — Thu Jul 04, 2024 8:44 am — Replies 183 — Views 27644