Long Range Planning
Since retiring a couple months ago, we have been looking into the possibility of relocating. Our criteria for selecting a new location include, but are not limited to, the following.
- the Utah CCW permit is honored and RKBA is not in danger
- a reasonable climate
- lower taxes
- good home value vs. price
- a place that satisfies the Better Half’s on the map* criteria
To satisfy criteria 1-3 the answer is simple: anywhere in the Southwest except California. Number 4 is not so simple, so I have been analyzing some of the real estate data found at real estate sites on the internet.
The composite graph below comes from data found at eppraisal.com. These three markets, from top to bottom are located in rural Arizona, suburban Arizona and Southern Taxifornia. Note the vertical scale on the top two is four times (or so) that of the bottom one giving the illusion of less market fluctuation on the bottom one versus the top two - the fluctuations are, indeed, comparable.
Looking at the home values where we live vs. either of the two other places, we’re in a pretty good position. Fortunately, it seems that we should be able to pay off our mortgage balance and have enough equity to make a very sizable down payment on a new residence.
* Now, when it comes to satisfying the Better Half’s criteria, she says that in order for a place to be “on the map,” it has to have a Wal-Mart and a Cabela’s within a 20 minute drive. All other goods and services will be available in such an environment.
The market in the top graph is just beyond the 20 minute drive requirement, but may have the redeeming quality of less expensive real estate to offset that minor shortcoming. We will see.
So, having set forth the requirements, we can now continue with the planning process. The next trade study will be whether to buy or build a new home, which we will have to completely furnish, so the cost of a home becomes a very important criterion.
Analysis to paralysis - just like at the aerospace mill before I retired. The only difference is now I’m my own customer.
4 Responses to “Long Range Planning”
drjim on 03 Dec 2009 at 1940 #
Well, you’re sure doing it the right way!
I wish you the best of luck in finding a suitable place. I’d be following you in a heartbeat if I wasn’t with the wonderful woman who’s in my life now, and if I could find a decent job in one of the types of places you’re looking at.
Minstrel on 04 Dec 2009 at 1039 #
I believe there are a lot of folks that would love to exit stage right, but have circumstances that prohibit them from doing so. At present, there are a number of obstacles we need to overcome, not the least of which is fixing up the homestead and getting it sold off.
We’re not in the job market, but I believe there are plenty of opportunities in places like Vegas, Kingman, Laughlin, Flagstaff, Tucson and Phoenix. All are growing way too fast, but offer diverse positions to those with education and skills in spite of the dismal unemployment numbers these days.
drjim on 04 Dec 2009 at 1821 #
As the old saying goes…
Yeah, BUT…” My girlfriend/fiancee has an excellent job with the Long Beach Unified School District, and she’s at least 10 years from retirement, so we’re kinda stuck here for a while…
Minstrel on 04 Dec 2009 at 1947 #
Understand - we have wanted out for MORE than 10 years, BUT we were locked in to having to wait for the full retirement. Now the only major obstacle is selling the house, but it’s still an obstacle.