The mainstream media loves bad news and disasters. As they like to say in the industry, “If it bleeds, it reads.” And if they can scare you effectively, they know you will be back for more. (Horror movies work on the same principle.)
The New York Times recently published an article under the headline “When Moving in Retirement Becomes an Expensive Reality Check.” The couple they chose as the example of a “trend” moved from New York’s Hudson Valley to Colorado 10 years ago; and since then they have relocated from Colorado (their rental price had grown too much) to coastal Florida, where they bought a home, but the neighborhood was filled with “prejudice…and blatant racism”; and then on to New Mexico where they could not adjust to the altitude or climate. They decided to return to the Northeast where, unfortunately, homes in the Hudson Valley had risen beyond what they could afford, and “We had to come down into rural Connecticut, where we didn’t want to be, but here we are because we just didn’t have anywhere to go.” (Editor’s note: I live in Connecticut, and my wife and I often take drives in the country. “Rural” areas of the state are charming and their small towns rival many of those in the Hudson Valley, where I spent a good part of my youth.)
Putting aside the New York Times’ predisposition to identify the most atypical retirees they could find — ones who are discomfited by attitudes and altitudes and may be guided by “champagne taste and a beer pocket” since they can’t seem to afford everything they want — all their issues could have been avoided with a modicum of research. The smartest thing they did in their chaotic journey was to rent their first place in Colorado, which gave them time to decide if the area was right for them. But they apparently did not consider how their budget would cover rental increases; those increases pushed them on to their next stop in Florida, a curious one indeed, about as far away from Colorado in terms of climate, politics and prices as you can get. They were worried about prices and chose coastal Florida, the land of hurricanes, inflated real estate and mind-numbing flood insurance? Yikes.
New Mexico, where I intend to visit in the next year or two — it’s the only state I have never set foot in — was a next choice that demonstrates that the Times’ couple may have had more of a plan to “see the USA/in their Chevrolet” than to settle into a comfortable retirement. But, of course, after dipping their toes in three VERY different locations, they sought to return to where they apparently had been happiest — except, in terms of affordability, the Hudson Valley had moved on from them. The couple had to settle instead for “rural” Connecticut, two hours south, a place they appeared to have a grudge against before giving it a chance.
After they get the sensationalism out of the way, the Times settles in with some advice to other normal retirees. Among the words of wisdom — and common sense — is that, “People often don’t fully research what it would be like to live full-time in their chosen destination.” I am not sure what the Times means by “fully research,” but the most basic research can steer couples away from disaster. Basics include historical climate data (weather.com can help), the politics of a particular town or county (election results are widely available on the Internet), and real estate websites like Zillow and Realtor.com which can keep you updated, literally minute by minute, on how prices are moving in your preferred area. Online magazines like USNews&World Report rank hospitals across the country; Kiplingers is another good source for information specific to retirees.
The featured couple left Florida not only because of their neighbors’ alleged bias but also because of “climbing expenses.” Well, duh, I doubt there have been many retirees in America over the last decade who weren’t aware of the radical increases in property taxes and flood insurance in Florida that blew in with a series of devastating hurricanes. This couple apparently was not aware.
The most helpful, though depressing, story in the article is about the widow who moved from her house in small town Texas and bought a place in Oklahoma to be closer to quality healthcare and entertainment options. But she didn’t sell her Texas home first, and it has lingered on the market, putting her in a financial bind. Her instincts for healthcare access were right; her execution was off. Word to the wise: If you can, sell your primary home before you commit to your next one. And, if you have the wherewithal, rent for at least a few months in your intended area.
The Times’ article implies it is risky business to relocate without doing many hours of research. It’s not. If you know what is important to you, there are plenty of resources available online to guide you to choose the best options. Once you nail down the location that seems right, go visit, ask a lot of questions, be properly skeptical about the answers, and consider renting in the area before you buy.
The Times article indicates that the serial relocators they featured are aiming to fulfill their VA mortgage commitment on the Connecticut house next year and move on, their fifth relocation in a little over a decade. If they hadn’t paid all those moving expenses previously, they probably could have afforded life back in the Hudson Valley, where they were originally settled and, apparently, happy.
My neighbor in Pawleys Island, SC, and I could not be more different. He and his wife live there full time, but my wife and I are vacationers, staying there on average only 10 weeks a year. Gary was born and raised in Columbia, SC, and ran the company his father had started. I was a corporate “weenie” for my entire career, ending it with a short stint at a university and then, in retirement, with a real estate license, this newsletter, a blog about golf real estate and assisting couples to find their dream golf homes. I have no illusions that Gary and I have wildly different opinions and that if we ever discussed politics, it would be a brutal affair.
But we don’t because we both value an enduring friendship that was forged largely in popular music and a little bit of golf. Gary, who is 12 years younger than I, loved the Allman Brothers and other guitar-focused blues and rock bands of the 70s. My music listening roots, though eclectic, were firmly cemented in the mid-60s and college, where I developed a taste for west coast rock —The Doors, the Jefferson Airplane, a less-known group called Love, plus the Beatles and other English invasion bands. (Gary has recently moved to the west coast, musically, with a fascination and passion for The Grateful Dead.)
Over time, I lost a bit of interest in listening to the “oldies” and didn’t keep up with the latest music. Gary, on the other hand, after he left his business, retired to a few hours a day in the wondrous man cave he created in a spare room of his condo. He has the best sound system, headphones and acoustic room I’ve ever been in. And he listens (and watches) every day, via vinyl, YouTube and music streaming services.
We trade stories about music. He is fascinated by this Yankee’s tales of concert going in New York City during the 1960s. He especially loves the story of how I wound up in a tiny bathroom on Bleecker Street in Greenwich Village with Jim Morrison, the famous lead singer of The Doors. To anyone Gary knows, he introduces me as a “guy who once peed next to Jim Morrison.” But a story — actually a recommendation — Gary shared with me about seven years ago awoke my dormant love of music. I had never heard of the blues guitarist Joe Bonamassa until Gary introduced me to his music. He didn’t oversell it before I listened; he didn’t have to. In college, I used to debate with my fellow students who was the best guitarist on the planet, and it typically came down to Clapton, Hendrix, blues guitarist Mike Bloomfield, Alvin Lee of Ten Years After and, occasionally, George Harrison. I dithered personally between a choice of Clapton and Hendrix, but their playing could not hold a guitar pick to Bonamassa’s. And if you like his music, you won’t believe how good it is in a live concert. (I saw him in Hartford, CT, and have plans to see him again at his favorite venue, the Royal Albert Hall in London, next May.)
I will respect Gary’s approach to music recommendations and not gild the lily about Bonamassa. I will let you decide for yourself with this link to a performance of Sloe Gin at the Red Rocks venue in Colorado. (Gary sent it to me.) It starts slow but builds, so hang in there. And enjoy. https://youtu.be/pvvgZMGp5Uo?si=cAx2zvkf822MCM4s
Thanks for reading,
Larry Gavrich
Founder & Editor
Home On The Course, LLC
