[wriggly]

The wife and I are tired of paying $16,000 a year in real estate taxes here in Illinois and are contemplating moving to southwestern Idaho. Most of our friends here have died and our kids are in three different states. I have two good friends in Idaho and another just over the border in Oregon. We own two houses that are paid for and rather than look for a property and have to deal with contingencies and trying to coordinate moving, I'm thinking about selling the two toys, the GTS and GT350 to have extra cash for a comfort margin and go ahead and buy a property out there, move and then sell the two houses here.
I already have a pretty good offer on the Shelby and I was wondering what would be a reasonable price to expect on the GTS? It's pretty loaded up with PDK, leather interior, and has only 1600 miles on it. Opinions appreciated.

 

[aeronca65tl]

Very tough decision which everyone will see from their own, unique viewpoint.

We're retired and in something of the same position, with two paid off houses (one is a summer place we do not rent out). Our property tax bill is around 20K total (and of course, it hits us harder these days due to the new federal property tax reg deductions which limit us to 10K max).

But our kids and grandkids live near us in NJ and most of my racing friends do too (or they live in Europe). Also, I have a close family with all six of my siblings living within two hours. My wife's sister, who is an identical twin and very close to her, lives 20 minutes away.

But almost more than that, I like where I live. Lots of stuff to do. A cruise night or car show almost every night of the week in the summer. The Simeone Museum is about 2 hours from me. The Jersey Shore is an easy drive. I have 5 sport-car race tracks within a four hour tow. NY City is an easy drive and so is hiking in the Pine Barrens or PA.

So yes, the taxes are a killer......but all the other stuff outweighs it, so we're staying put.
My point is: make sure you consider everything. And not just taxes.

I'm sure it's beautiful but If I told my wife I wanted to move to Idaho, she would suggest I do that with my next wife.

Honestly, we prefer our super-convenient, suburban living, especially as we get older (but I fully realize that's not for everyone).

If nothing else, I'd rent an extended stay motel in the area you are looking at for at least a month and see if you like the vibe.

I'd sell at least one of the houses and one of the cars before doing anything else. Although the depreciation on the Porsche will kill you (you might do better on the Mustang).

Good luck! It's a big decision!

 

[mazyo]

The wife and I are tired of paying $16,000 a year in real estate taxes here in Illinois and are contemplating moving to southwestern Idaho. Most of our friends here have died and our kids are in three different states. I have two good friends in Idaho and another just over the border in Oregon. We own two houses that are paid for and rather than look for a property and have to deal with contingencies and trying to coordinate moving, I'm thinking about selling the two toys, the GTS and GT350 to have extra cash for a comfort margin and go ahead and buy a property out there, move and then sell the two houses here.
I already have a pretty good offer on the Shelby and I was wondering what would be a reasonable price to expect on the GTS? It's pretty loaded up with PDK, leather interior, and has only 1600 miles on it. Opinions appreciated.

After reading your post and seeing how much you pay in taxes I wondered how much the taxes are in ILL and was surprised to find them to be the second highest in the US at 2.13%.
As long as you are moving to save on property taxes maybe it is worth consider moving to a state that has 0%. This way you can makeup all the years you were paying so much. I could not imagine being without a fun to drive sports car as it is what I do to relax. My Sat and Sun early morning drive is something I look forward to every day of the week and it helps me get through the very stressful day. If not for my need for these expensive toys I could probably retire 10 year sooner. I really do not mind working as long as I know that come Sat and Sun I have a Porsche to get into.

 

[wriggly]

After reading your post and seeing how much you pay in taxes I wondered how much the taxes are in ILL and was surprised to find them to be the second highest in the US at 2.13%.
As long as you are moving to save on property taxes maybe it is worth consider moving to a state that has 0%. This way you can makeup all the years you were paying so much. I could not imagine being without a fun to drive sports car as it is what I do to relax. My Sat and Sun early morning drive is something I look forward to every day of the week and it helps me get through the very stressful day. If not for my need for these expensive toys I could probably retire 10 year sooner. I really do not mind working as long as I know that come Sat and Sun I have a Porsche to get into.

Totally agree about the cars. I sold the Shelby this morning, probably won't sell the 718 till spring. My intent is to move, get settled, sell the properties here and get another 718. I couldn't live in a place like the Northwest with all the cool mountain roads without a toy. I've been retired for six years now and the bulk of my recreation revolves around the cars.