Planning Ahead - Buying for Retirement
- Thread starter Kristine..
- Start date
Times Change
Kristine
Well done on your planning ahead.
We did this too, with the purchase of the townhouse in Yorkeys (Cairns) our plan was to spend the 3 coldest months of the year there.
Our first year was to have been last year......we were to go in May and renovate but of course our circumstances changed
I have gone ahead and hired a builder to help me renovate and together we have almost finished. It does give me an excellent excuse to fly north again next Wednesday, as I have been doing every couple of weeks. Doing it on my own is not the same but this trip I have my son coming up to visit for the last week to see what his father and I have gone on and on about.
My friends claim its so I can drive him around Cairns say
"One Day son all this will be yours"
Good luck to you both I wish you good health and happiness
Chris
Kristine
Well done on your planning ahead.
We did this too, with the purchase of the townhouse in Yorkeys (Cairns) our plan was to spend the 3 coldest months of the year there.
Our first year was to have been last year......we were to go in May and renovate but of course our circumstances changed
I have gone ahead and hired a builder to help me renovate and together we have almost finished. It does give me an excellent excuse to fly north again next Wednesday, as I have been doing every couple of weeks. Doing it on my own is not the same but this trip I have my son coming up to visit for the last week to see what his father and I have gone on and on about.
My friends claim its so I can drive him around Cairns say
"One Day son all this will be yours"
Good luck to you both I wish you good health and happiness
Chris
Congratulations Kristine and thanks for sharing a dream.
Sounds like a wonderful location. I can't wait to see the photos.
Did you think about medical facilities (sorry to be morbid) in your criteria? I'm starting to wonder what the Health services are going to be like when we retire.
Regards,
Kenny
Sounds like a wonderful location. I can't wait to see the photos.
Did you think about medical facilities (sorry to be morbid) in your criteria? I'm starting to wonder what the Health services are going to be like when we retire.
Regards,
Kenny
Following along Kenny's train of thought, something I've touted before is the "sickchange", in maybe 10 years time, where the "seachangers"who have pushed out 2-3 hours from capitals will cascade back to a ring about 1 hour out due to increasing healthcare trips...specialists, etc and even loneliness, having moved away from friends and family (especially grandchildren). Won't be able to afford returning to inner suburbia, won't want to live in outer suburbia, so "nice" near-regional centres with decent local services and close enough to easily get to the city as needed.
G'Day
Yes, the 65 - 95 year age span is partly what convinced us to buy as close in as we could.
Chelsea is very well established, health services and municipal support services in the City of Kingston are plentiful. There are also assisted many assisted and nursing care opportunities.
A friend of mine watched in horror as her parents moved from Rosanna to Queensland, back to Frankston, then to Torquay, dissipating money, time and effort along the way.
We become much less adaptable to change as we age, so our blueprint is to buy now, know that we will be moving to a specific location and property in about 5 years, and this gives us the opportunity to gradually shift our focus rather than a sudden change, and of course if circumstances change we can also modify the plans.
On the subject of regional areas, I think cities such as Horsham, with many properties at or below $150,000 yet with a Hospital and all other amenities, will start to really show their strengths. Age is an industry in it's own right, just as children's services are, or education, or recreation, or whatever.
The country towns or small cities with rail, hospitals, retail and a quality of life at a quite different cost to that in the metropolitan areas may very well have a resurgence as people seek pleasant places to live for that third 30 years.
Cheers
Kristine
Yes, the 65 - 95 year age span is partly what convinced us to buy as close in as we could.
Chelsea is very well established, health services and municipal support services in the City of Kingston are plentiful. There are also assisted many assisted and nursing care opportunities.
A friend of mine watched in horror as her parents moved from Rosanna to Queensland, back to Frankston, then to Torquay, dissipating money, time and effort along the way.
We become much less adaptable to change as we age, so our blueprint is to buy now, know that we will be moving to a specific location and property in about 5 years, and this gives us the opportunity to gradually shift our focus rather than a sudden change, and of course if circumstances change we can also modify the plans.
On the subject of regional areas, I think cities such as Horsham, with many properties at or below $150,000 yet with a Hospital and all other amenities, will start to really show their strengths. Age is an industry in it's own right, just as children's services are, or education, or recreation, or whatever.
The country towns or small cities with rail, hospitals, retail and a quality of life at a quite different cost to that in the metropolitan areas may very well have a resurgence as people seek pleasant places to live for that third 30 years.
Cheers
Kristine
Today We Have Lift Off!
Well, today we have lift off!
Settlement finally occured this afternoon, but not without drama at the eleventh hour!
This has been such a convoluted and twisted path, the yellow brick road doesn't come anywhere near the many strange and peculiar happenings over the past couple of months.
I am convinced the house didn't want to be sold, and even when finally, after months on the market, a contract was entered into the house just dug it's heels in and refused to budge.
But when we turned the key in the door, it welcomed us with open arms. Brushed and polished, it looked charming in the soft afternoon light. And it even has a dishwasher, something which we were convinced it did not have.
After pottering about for a bit, we went for a walk along the beach. Waves have such a lovely ker-thump as they break on the shore, the rhythmic beat of a living planet. We stood and watched as the sun slipped - slowly - slowly - gone! below the horizon, leaving silver and gold reflecting in the clouds over the bay. We were sure we could have just walked across to Ricketts Point, the water looked as solid as reality.
In the twilight, the lights flickered on all around the bay, we could see the lights of Mt Eliza and the channel buoys and all around us the sounds of the bay.
Afterwards, a cheerful meal in front of the open fire at Doyle's overlooking the Mordialloc Creek.
Yes, folks, this is what property investing is all about. The ability to have a choice. Life is all about the exchange along the way, and we have exchanged our time and our committment for the opportunity to have and make a choice. We look forward to many happy years welcoming our family and friends to our (not insignificant) Cottage by the Sea, and you never know, Mike may yet sell budgies by the gate!
Cheers
Kristine
Well, today we have lift off!
Settlement finally occured this afternoon, but not without drama at the eleventh hour!
This has been such a convoluted and twisted path, the yellow brick road doesn't come anywhere near the many strange and peculiar happenings over the past couple of months.
I am convinced the house didn't want to be sold, and even when finally, after months on the market, a contract was entered into the house just dug it's heels in and refused to budge.
But when we turned the key in the door, it welcomed us with open arms. Brushed and polished, it looked charming in the soft afternoon light. And it even has a dishwasher, something which we were convinced it did not have.
After pottering about for a bit, we went for a walk along the beach. Waves have such a lovely ker-thump as they break on the shore, the rhythmic beat of a living planet. We stood and watched as the sun slipped - slowly - slowly - gone! below the horizon, leaving silver and gold reflecting in the clouds over the bay. We were sure we could have just walked across to Ricketts Point, the water looked as solid as reality.
In the twilight, the lights flickered on all around the bay, we could see the lights of Mt Eliza and the channel buoys and all around us the sounds of the bay.
Afterwards, a cheerful meal in front of the open fire at Doyle's overlooking the Mordialloc Creek.
Yes, folks, this is what property investing is all about. The ability to have a choice. Life is all about the exchange along the way, and we have exchanged our time and our committment for the opportunity to have and make a choice. We look forward to many happy years welcoming our family and friends to our (not insignificant) Cottage by the Sea, and you never know, Mike may yet sell budgies by the gate!
Cheers
Kristine
Congrats Kristine,
Sounds perfect...and some nice descriptive prose. Does that suggest a budding author under that exterior?
And Chelsea sounds promising...as does retirement.
I think Apocalypse has something there - my folks retired to Paynesville 2 yrs ago - a 3 hr trip from Melb...and now they're on their way back to Melb...to be closer to family and services. Something worth keeping an eye on.
Enjoy
Fish
Sounds perfect...and some nice descriptive prose. Does that suggest a budding author under that exterior?
And Chelsea sounds promising...as does retirement.
I think Apocalypse has something there - my folks retired to Paynesville 2 yrs ago - a 3 hr trip from Melb...and now they're on their way back to Melb...to be closer to family and services. Something worth keeping an eye on.
Enjoy
Fish
Didn't that happen to a certain house in AmityvilleKristine.. said:
Just kidding Kristine. By the sounds of things, you are very happy, and I, and I'm sure everyone else here, wish you well with this property.
From your description, you will have many a good time in and around this property.
Regards
Marty
I'm very happy for you, Kristine!! Sounds idyllic!
Cheers
Cheers
Kristine.. said:
Wacko ! Kristine, your dream is now a reality. Congratulations and enjoy. I have a question tho. Does Mike have any crested budgies? You know, the ones with the funny halo of feathers on their heads?
Now if Les and I could just make up our minds about retirement, and actually agree on how, when and where, we'll be doing well.
MrsW and I have agreed where we are going to retire.Brenda Irwin said:Now if Les and I could just make up our minds about retirement, and actually agree on how, when and where, we'll be doing well.
She is going to retire to Tasmania, and I am going to retire to Queensland
Nothing wrong with the relationship, and the Canberra climate is a temporary compromise.
But I love hot weather, sun and beaches- and she loves a chilly climate.
I don't think she really is a Mexican
G’Day
Just thought I’d update with a PostScript:
We settled on the HOTTA on 11-08-2006 and all was well.
I got a bit distracted with the Franchise, and then the GFC and then being away, but earlier this year we started doing a slow cruise of the display homes, drawing on the backs of envelopes, that sort of thing.
The plan is to move in sometime in early 2011 so we figured that we argue for a year, build for a year, move in, all done.
But just as the house hadn't wanted to be sold in the first place, it also didn't want to be removed and despite much discussion we are no closer to a new design than when we first saw it.
However, Fate, in the form of Spiderman, has intervened. Spiderman sent me an email ‘Did you know the house next door is up for Auction?’.
So, of course, muggins here bought it.
And what a difference a house makes! This one is 80 years old, floor to the ground in the kitchen, shower partitioned off the end of the kitchen bench, outdoor loo. No concept of renovating here, no attachment to this house, in our minds this is vacant land.
So it’s all hands to the pump if we are to have plans and a Building Contract for settlement in March, 2010 and we will be in for February, 2011.
The Feature Survey is booked, I have had conversations with my trusty Draftsman, got the finance pencilled in and new tenants move in to the original HOTTA probably this week (the previous tenants asked repeatedly if it was up for sale, then went and bought elsewhere).
The new house is one door closer to the beach, more central to the park opposite, better bay views and at the edge of the 5 metre datum level, after which the land slopes away towards the beach.
All in all, we are very pleased and this time, it seems that the planets are aligned and the Universe is unfolding as it should.
Since we bought the first house, two of the blocks in the street have had new terrace / duplex built, there is a major development of new townhouses underway on the corner, the Council has revamped the park, the local shopping centre has had some serious dollars invested ... sleepy hollow is starting to look a lot more vibrant and is getting to be quite smart.
The beach is as beautiful as ever.
By our reckoning, the original HOTTA has improved by way more than $1,000 per week since we bought it (not including rent income). Sure, we can’t eat the capital growth but it’s nice to know that even though we don’t want to live in it and it doesn’t want to be removed, it is still beavering away 24/7 for us.
Just thought I’d share!
Kristine
Yay Kristine!
Your excitement is contagious!
Jo
Your excitement is contagious!
Jo
I saw a 'house' today that would be great as a long-term proposition, maybe not retirement but then I'm 33 so still in broody hen mode not granny mode.
Its an old Baptist church, our current house would fit in it 3 times over and then some (stacked vertically ). It has an outdoor loo and no bathroom, unless the old font (fount? pool? whatever) under the altar counts as a bath.
It ticks most of the other boxes though - 2000sqm so not too big or too small, its central on the block not jammed up against one edge like every other house I've owned, and it's almost a castle. I like castles. Its not subdivisible though, it has already been battleaxed maybe 100 years ago, probably for a house for a priest.
With a mezzanine floor (or two) in, the ground floor could be used for something commercial. A 'youth' store would rock. There's nothing for teenyboppers around here. Zoning should permit, considering the number of businesses on that stretch of road and the fact the place already has a carpark and so forth.
The only way I can buy it is if my 11th hour interested buyer actually BUYS the place, and then if that sale provides a 40% deposit on the lowest figure I can convince the Baptists to take. Or if it is still for sale after our subdivision is through, which is unlikely given its location. So any planetary aligning is currently riding on my REA talking these 'really interested' buyers into committing. If not, I guess this is yet another 'perfect' property I get to watch someone else buy.
Its an old Baptist church, our current house would fit in it 3 times over and then some (stacked vertically
). It has an outdoor loo and no bathroom, unless the old font (fount? pool? whatever) under the altar counts as a bath.It ticks most of the other boxes though - 2000sqm so not too big or too small, its central on the block not jammed up against one edge like every other house I've owned, and it's almost a castle. I like castles. Its not subdivisible though, it has already been battleaxed maybe 100 years ago, probably for a house for a priest.
With a mezzanine floor (or two) in, the ground floor could be used for something commercial. A 'youth' store would rock. There's nothing for teenyboppers around here. Zoning should permit, considering the number of businesses on that stretch of road and the fact the place already has a carpark and so forth.
The only way I can buy it is if my 11th hour interested buyer actually BUYS the place, and then if that sale provides a 40% deposit on the lowest figure I can convince the Baptists to take. Or if it is still for sale after our subdivision is through, which is unlikely given its location. So any planetary aligning is currently riding on my REA talking these 'really interested' buyers into committing. If not, I guess this is yet another 'perfect' property I get to watch someone else buy.
