[quote=flyer]Agree that there are many “horror stories” out there concerning being a LL, but, we’ve just never had any really bad experiences over the years. Our kids want to take over when they “retire” from their current professions and move back to San Diego, and tell us they’re looking forward to it.
Also, many in our family pass our homes down, rather than renting them out, because we know our heirs may not be able to replace them in their lifetimes, and we want to keep them in the family for future generations to enjoy.
As in all things in life, what works for one person, does not necessarily work for another, so everyone simply has to decide what path is best for them.[/quote]
flyer, it sounds like you had/have enough “interested parties” in your family to both reside in and manage the properties you all decided to keep. I agree that it is foolish for an estate to sell a property situated on a very valuable piece of land in CA when its taxes are extremely low and will remain so as long as the property remains in the family, especially those which would be difficult to acquire today, such as ocean-view properties and properties situated on acreage.
I wish my parents had stayed in CA and kept their $17K bay area house and expanded from there. They had the ability to do so many decades ago but my dad chose to accept what he thought was a “better” job in Denver, CO. I ended up moving back here as a young adult after which time my parents divorced. They each subsequently remarried and neither ever moved back to CA. Both of my parents and their second spouses are all gone now.
As you can surmise, my family “support-system” is dwindling unless I choose to move to a “flyover state” where I have a brother and dozens of aunts, uncles and cousins still alive. Having lived in CA for nearly 50 yrs, that locale (where my parents are from) is still unpalatable to me for retirement purposes but things could change in that regard depending on what happens in the next couple of years.
It is the very prudent children of long-established Californians, like yourselves, who will have the most security in this state going forward, IMHO.
Although it is probably too large for me, I could stay in my home indefinitely and would be in good company since the vast majority of the homeowners in my area are boomers and seniors. But I have itchy feet and want to see what’s out there before I make a decision on the matter. In order to do that, I need to “empty my nest” first :=0
Folks, a word of advice. If any of you Gen X/Y’s out there are putting off having children until age 35, 40 or beyond or waiting to have another child or a last child, I would recommend you to do it earlier, rather than later. What exactly are you “waiting” for?
Because when you’re pushing 60, you’re not going to want to play “soccer mom/dad” or HS games anymore. You’re not going to want to go to your kid’s school’s “open-house” where you are 15-25 yrs older than most of the parents (but the same age as the teachers who are nearing retirement, lol). You’re going to instead want to move on with your life. Trust me on this :=0
