Downsizing, Retirement, Townhomes, Trends

Live-Work and Semi-Retirement

As a lot of people contemplate retirement, we are finding that the concept of retirement itself is changing. Many of us can’t stand the thought of completely retiring, either because of finances, or just because we simply can’t see ourselves not working. What this means for many is working part-time at what we did full-time, either for our long-time employer, or as a consultant. For others it can mean starting an entirely new business.

The next question is where will we work? Anywhere! The internet has made many of our jobs portable…worldwide. So, if your beachfront house in Mexico has a high-speed connection, you can do much of what you do in the office every day from your home-office at the beach. That makes semi-retirement almost bearable!

This brings up the idea of homes where we can live and work at the same time. The concept is not new, of course. I remember growing up in Seattle, and we had family friends who had small businesses in storefronts, and they lived in apartments upstairs, in small mixed-use buildings.

Recently, some developers have made these types of homes available in new construction. One Seattle developer is making live-work townhomes, with a bottom floor of work space with a bathroom, and 2 upper floors that contain living areas. There are separate outside doors for each of these units, and they are also connected inside. They sell very fast, too, as they are in popular neighborhoods! One client bought a unit as an office space for their business, and an apartment for their daughter who attends the nearby University of Washington. Developers in some suburban cities (I have seen these in Issaquah, Mukilteo, Lynnwood, and Poulsbo) also occasionally build live-work townhouses, with the work area either below the living areas, or beside them. A new listing just came on the market today for a 2100 sf unit with 3 bedrooms, 5 baths, and a separate office just off the main entrance. It’s located in Lynnwood near the Ash Way transit center for commuting convenience as well. These are affordably priced at around $350,000.

For more info on these or others in the area, contact Greg at 206-713-2921 or email below.