The Decision to Sell Our New Bedford Home
I was born in New Bedford in 1958. Except for some time on the road, I spent most of my life there. My wife was born and raised in Pawtucket, Rhode Island but lived more than half of her life in New Bedford. My two sons came into the world in Providence but lived almost exclusively in the home we owned for 25 years on Victoria Street in New Bedford's North End.
We sold that house in March 2020, just as the COVID pandemic was about to knock the world for a loop.
The decision to sell the home where you raised your family is never an easy one, but it made sense. Both boys went out on their own, exploring the world as we had encouraged them to do. The house was just too big for the two of us.
Many folks hang on to their homes well into their retirement years. They see it as an investment in their future. Once the mortgage is paid off, you seem to live rent-free – or so it seems. Constantly rising property taxes, never-ending repairs, homeowners insurance, heating bills, and other expenses never go away when you own a home. Nor do the chores.
How about when the hot water heater quits at 3 a.m. or the wind blows the neighbor's tree onto your roof in the middle of the night?
When you own a home, there is always work to be done: mowing the lawn, cleaning the gutters, trimming the trees and the shrubs, and shoveling snow. Did I mention the never-ending repairs? Roof replacements, painting, fence repairs, and that's just the outside. Furnaces, hot water heaters, carpets, plumbing – always in need of replacing.
With property taxes soaring in New Bedford and home values rising, we decided the time was right to sell. We eliminated all of our debt, reduced our expenses dramatically, and put money in the bank.
We are apartment dwellers now and are loving every moment of it. This senior citizen hasn't touched a rake or a snow shovel in two years, and we travel more than ever.
Selling our home and living the life of carefree empty nesters was the right decision for us. It's not for everyone. Is it for you?