Condos?

As I mentioned in my last blog, as much as I would love another houseboat, practicality indicates it wouldn't be a good retirement choice for us.  I still look at times, and I won't guarantee that that we won't end up there, but it's not likely.

My second choice after that has been a land based house, preferably on the water somewhere.  Unfortunately, I'm not alone in that fantasy, and people much more affluent than I have driven up the cost of waterfront living.  There are a few bargains, but most of them need so much work, that I'm not financially or physically able to make them into livable options.

I'm beginning to reconsider Kay's first choice a condo.  I'm hesitant for a number of reasons.

1. Condos are too much like apartments.  I know many people live in apartments and are happy there, but my experience in them is less that favorable.  
1. Rules by the management or condo association are often VERY restrictive, including:
1. If you can own pets, or what kind you can own.
2. What you can put on your patio or balcony (if you have one.)
3. Banning satellite dishes or external antennas.
4. Color schemes that are allowed, at least for what can be seen through windows.
2. Neighbors.  Yeah, this can be a problem ANYWHERE, but most places have more than a sheet-rock wall between you and them.  I've actually had neighbors above me that let the kids bowl in the hall way at night!  Not to mention having to listen to their music, TV shows, and late night fights.
3. Maintenance.  Yes, it's nice to have someone else responsible for maintenance, but the association or manager tends to not view issues with the place I live nearly as serious as they do where they live.  I've been without A/C or heat for weeks in apartments, usually with temporary fixes or ducttape fixes instead of fixing it right, so the same problems keep happening.  At least in the apartment I could move out when my least expired, but that's not nearly as much of an option when you own the condo.
2. Kay wants a condo where she can see and hear the beach.  While I'll admit that living on the beach has a certain attraction, watching the waves from a 10th floor balcony isn't my dream.  Boating becomes impossible or expensive since small boats can't handle the surf, and the boat ends up having to be stored elsewhere, and possibly even launched every time you want to use it. Even beach combing would involve taking an elevator down hiking or driving to the beach, enjoying it for a while, then figuring out how not to track sand and salt all over the elevator on the way home.
3. Size.  Yes, most are bigger than a houseboat, but the space isn't as usable.  Most of those we've seen in our price range are one bedroom, so place for the kids to stay if they visit, and that's assuming they are out of the house when we move! What may be even more important, even husbands and wives need a chance to get away from each other from time to time.  The only way to do that in a small one bedroom condo is to leave.
4. Renters.  Most beach front condos are rental property.  That means there is a good chance that your neighbors change every week or maybe even more often.  Even if you find one with good neighbors, what happens when they rent it to the college students on spring break that just want to party all week? The family that rents the larger condo and brings 5 cars and park where ever they find a space, such as your space? Ironically, the ability to rent out the condo is also an advantage.  Since it could be used as an income property, it's possible we could swing buying one ahead of time and using it as a rental property until we retired, building equity and starting on the payments while we are still working. Even after retirement, if we went on extended vacations there would be the possiblity of renting it out for a month or two while we are gone.
5. Parking - related to the above- we currently have 2 cars and a motorcycle.  My plan is to keep the motorcycle, so even if we pare down the extra car, we need safe parking for both vehicles.  While some beach front condos have plenty of parking, others don't.  Especially when you consider the drunk vacationers coming in and out.

Don't get me wrong, I see some advantages also.

1. It's one of the more affordable ways to get water front property.
2. Someone else is responsible for many major repairs and maintenance.
3. No lawn to mow.
4. Most come with some nice amenities like swimming pools, hot tubs, beach seats and shades, and even gyms.
5. Most since they tend to be in tourist areas are in areas that have things to do.
6. Especially if we plan on renting it out, even if only occasionally, we have incentive to not "junk up" again. (one of the things I dread even though I have been trying to slowly start on it, is getting rid of the junk we've cluttered out lives with over the last decades.)

The bottom line at this point seems to be we'll see where we end up.  The more practical part of me says we'll probably stay here, no matter how much I hate  Missouri.  There's space for the kids, no more loans to apply for, and Kay doesn't need to search for new doctors.