Gonna Buy Me a Condo

It's official: I've closed on a condo on the Delaware River, which Amy and I will move to in a decade and which will likely be where we spend our retired empty-nest years.

I've been on the look-out for over a year, when I realized that with the large gap in our kids' ages - 14, 12, and 4 - there was a downsizing that could occur in our housing situation in 2029.  At that point, Asher will have graduated from 8th grade, and our locational advantage of being able to send him to Penn Alexander, our neighborhood K-8 school, will no longer be needed.  Aaron and Jada are so much older than him that they will both have graduated from college by then.  Which means there's no need for the 6-bedroom rowhouse we currently live in in West Philly. Hence, why not slim down to a 2-bedroom unit at that point?  

 

Thus began a search process for which I knew I had a very long window to buy, which meant a very good bargaining position, since I had so much time on my side and could always walk away if things didn't work.  I quickly narrowed down to a few criteria.  Location had to be Center City, since Asher's high school years and our older years would benefit from access to transit and amenities.  It couldn't have a rental restriction, since I wasn't going to be using it for awhile and would need to generate income in the meantime.  And, since we're talking retirement, it had to have a nice view, since that is what I equate to life at the slower pace of being retired and not having little kids around.

It took about a year and a number of possible units before we landed on one that worked.  It's at Pier 3, which means it literally juts out into the water.  Facing south, it has an incredible view of Penn's Landing, as well as the Delaware River, the Camden waterfront, and Walt Whitman Bridge.  It's within minutes of a subway stop, Old City shops, and running trails.  And the on-site amenities are nice too, including a wrap-around sun deck, pool and fitness center, and courtyard (the private balcony outside the master bedroom overlooks this, so I'm already imagining morning prayer times and evening conversations with Amy there). 

In a week or so, the unit will be furnished, photographed, and ready to be listed, so I will post links for anyone who is looking to rent.  I have to admit I'm a little nervous about owning more real estate and taking on more debt; even though we got it for a good price, we paid so little for our current home that this is by far the most I've ever spend at one time.  But more so I'm thrilled to have found something that works for us, and I can't wait until we can actually live in it ourselves.  Now if you'll excuse me, I have to get back to grinding it out at work, so that my dreams of retirement won't always be dreams but can one day be reality.