Selling and relocating questions

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Ky hills

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Clark County, KY
We have been thinking of eventually relocating. My wife is from southeast Oklahoma. Her mother, and most of her aunts and uncles live in that area still. I am the last of my immediate family here and after experiencing the care that my mother needed, we think it would be good if we were closer to her family now. It's a lot to think about I have never lived anywhere else except this county. I hate to see this land sold even my wife says that this is home to her now and would be sad to leave. We are thinking that if we do this we can sell this land and houses for enough that we can buy a similar amount of land and one smaller house and have money left over to invest for retirement. I haven't talked with any real estate agents yet, but we are going to probably be doing that soon and in the process start looking in person at what is available out there. Has anyone made a move like that? Is it best to sell most everything and start over once there? It's a hard decision to make and I've been contemplating for a couple years now in the sense of somewhere down the road. It seem like now since my mother has passed that it with the houses there is so much upkeep and expense and since there are two houses close together it's not feasible to sell either one off separate.
 
It seem like now since my mother has passed that it with the houses there is so much upkeep and expense and since there are two houses close together it's not feasible to sell either one off separate.
It's going to get more difficult and labor intensive too, as you and your wife (and the houses) age.
More expensive too.
 
greybeard said:
It seem like now since my mother has passed that it with the houses there is so much upkeep and expense and since there are two houses close together it's not feasible to sell either one off separate.
It's going to get more difficult and labor intensive too, as you and your wife (and the houses) age.
More expensive too.

It will also keep you active in retirement. Much to be said for having chores everyday. will keep you mentally sharper than watching sitcoms.
 
greybeard said:
It seem like now since my mother has passed that it with the houses there is so much upkeep and expense and since there are two houses close together it's not feasible to sell either one off separate.
It's going to get more difficult and labor intensive too, as you and your wife (and the houses) age.
More expensive too.

That's very true, my health has always been somewhat limiting and I don't foresee that improving with time. The farm work gives me something to do but it's a major ordeal sometimes to get some things done. The expenses are a major factor too. I think that's the point we are at we just want to downsize and still have some land and cattle as long as we can tend to it and have a smaller house, although the one we are in now isn't big but we need a one story especially as we get older.
 
shaz said:
greybeard said:
It seem like now since my mother has passed that it with the houses there is so much upkeep and expense and since there are two houses close together it's not feasible to sell either one off separate.
It's going to get more difficult and labor intensive too, as you and your wife (and the houses) age.
More expensive too.

It will also keep you active in retirement. Much to be said for having chores everyday. will keep you mentally sharper than watching sitcoms.

Yes, if we relocate I still want some land and cows, I don't think I would last too long without that. I don't get much out of watching tv anyway as I can't hear it
 
Only you know if its worth it, we are kinda at the same crossroad. I kinda like the locals now waving at me and calling me by name at the coop, after 15 years. But, at the same time, I'd like to just start again. Its hard to explain I guess.
 
I think if it was me I would go to the area with all of the wife's kinfolks rent a house or apartment in town. Have a moving sale where you are and turn everything into cash. Do the move and patiently wait for something that you really want in a place becomes available. With all of her kinfolks out there surely the word will get out that your are looking for a place and someone will call with that place. Let them save some of the real estate commission and deal directly see what might happen. My Dad always said if you got money you can find a place also the same with cows. Might be if a little while without cows you will realize that life goes on and on.
 
hurleyjd said:
I think if it was me I would go to the area with all of the wife's kinfolks rent a house or apartment in town. Have a moving sale where you are and turn everything into cash. Do the move and patiently wait for something that you really want in a place becomes available. With all of her kinfolks out there surely the word will get out that your are looking for a place and someone will call with that place. Let them save some of the real estate commission and deal directly see what might happen. My Dad always said if you got money you can find a place also the same with cows. Might be if a little while without cows you will realize that life goes on and on.
Good ideas but remember also the capital gains on your property.Depending on the tax laws,you might want to have something in mind there before you close on your property.A reinvestment the same year shouldn't be taxed much,if any.Check with a CPA or an attorney who specializes in these things.
 
JW IN VA said:
hurleyjd said:
I think if it was me I would go to the area with all of the wife's kinfolks rent a house or apartment in town. Have a moving sale where you are and turn everything into cash. Do the move and patiently wait for something that you really want in a place becomes available. With all of her kinfolks out there surely the word will get out that your are looking for a place and someone will call with that place. Let them save some of the real estate commission and deal directly see what might happen. My Dad always said if you got money you can find a place also the same with cows. Might be if a little while without cows you will realize that life goes on and on.
Good ideas but remember also the capital gains on your property.Depending on the tax laws,you might want to have something in mind there before you close on your property.A reinvestment the same year shouldn't be taxed much,if any.Check with a CPA or an attorney who specializes in these things.
It looks like there is a 1million capital gains tax for legitimate long term farmers. Have no idea about the legitimate farmer. can a person that held a job and was farming be legitimate.

https://www.producer.com/2018/12/capital-gains-exemption-eases-farmland-sale-on-retirement/

Went back and read this it is for the socialist country of Canada
 
hurleyjd said:
I think if it was me I would go to the area with all of the wife's kinfolks rent a house or apartment in town. Have a moving sale where you are and turn everything into cash. Do the move and patiently wait for something that you really want in a place becomes available. With all of her kinfolks out there surely the word will get out that your are looking for a place and someone will call with that place. Let them save some of the real estate commission and deal directly see what might happen. My Dad always said if you got money you can find a place also the same with cows. Might be if a little while without cows you will realize that life goes on and on.

Good idea, I'm not sure I'm comfortable though with having an auction for the property. I don't know but I think we may be able to get more out of it to list it for sale. This is a once in a lifetime opportunity for us because once it's gone it's gone, I don't know if we can make it work or not but have already got a property there in mind if it's still available when the time would come.
 
Can this be a short-term(ish) move to OKLA? How long is it expected to need to be there for her Mom?
Lease out your place, pack-up and move to OK, and return "Home" when you can for YOUR retirement. (5yrs?, 10yrs?)
 
Philip-TX said:
Can this be a short-term(ish) move to OKLA? How long is it expected to need to be there for her Mom?
Lease out your place, pack-up and move to OK, and return "Home" when you can for YOUR retirement. (5yrs?, 10yrs?)

I have thought about leasing, and would love the idea of keeping this place also. This isn't a have to situation at this time we are just thinking in term of what might be and more or less so she could be closer to her family. Since I am the last of my own immediate family there really isn't a reason other than to visit to come back to retire here. Part of it on my part is wanting to be somewhere with less winter too
 
I would think cash sale of the land, and a retirement/moving auction. Your gonna have more "stuff" than you think, that's really not something you want to move. Probably even several house hold items. Your best equipment, you might sell on facebook, if you have it.

God is probably behind a big change like this. It would be interesting to see where this goes.
 
Bigfoot said:
I would think cash sale of the land, and a retirement/moving auction. Your gonna have more "stuff" than you think, that's really not something you want to move. Probably even several house hold items. Your best equipment, you might sell on facebook, if you have it.

God is probably behind a big change like this. It would be interesting to see where this goes.

You are right, we definitely would need some sort of auction for the "stuff" we would need to free up space even if we stay so we could rent out the other house. Outside of a few pieces of antique furniture we couldn't justify taking much. As far as my equipment most of it is older. My wife and I talk about if we were to take our tractors and some equipment and some cattle that we would have a Clampett convoy. I don't know if it would work out this way or not but there are a few cows that I would like to take along, most would be sold though.
It's kind of mind blowing how things have taken place the last several years, Its things only God could have orchestrated in the middle of life's storms.
 

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