We did it in 2006 from very Inner city Sydney to Regional Victoria. We love it!
We did not see it as giving some thing up but a time for change, the next phase in our life. I write this as many comments here seem to be: all or nothing and it is not like that in our experience. You can have the best of both worlds.
We did it at 40 for number of reasons. Stress and Health, I wanted to see 50! Personal Relationship we wanted to love each other not just live with each other. We had a child and wanted her to know her Grandparents in VIC before they died and not be raised as a pretentious inner city private school kid. And because, financially we had made it and "enough was enough." Had we been 30 it would have been too soon. 40 was perfect.
Our story:
Income has improved but we have a business based in Sydney worked from our Town and no, it is not internet. Business is smarter now I don't do it all and have staff who do. If I had not moved I would still be working long days as the workaholic who thought only he can do it right. Now I have to rely on staff because I am 1000km away. Lucky as had I got a job locally my income would have halved but:
Lifestyle: every day is like a weekend away to a BnB. Especially as I stay in Sydney 2 to 3 days each week. It never gets boring. BTW we still have sydney bolt hole apartment in the inner city.
TV? What TV, We don't even have it hooked up. We are busy living life than watching it. Serious, no pretentiousness intended. We never were big watchers but when read more, you will see we don't have the time.
UPSIDE
Friends: we have much much more friends (especially due to the kid link) but we also spend more time with them as it is easier to spend time with them and they have time to spend with us. We are all very like minded and live close by so it is easy to have a play date than runs to drinks at sunset that turns into "whip it up" pasta and pudding whilst the kids run around the hay bales in twilight. And when Country Folk party, we party hearty. In two weeks the local dress up ball is on and it is "go hard or go home". From men as 7ft fairies to wonder woman, to red indians, to yummy mummies as Britney Spears! This years theme is National Icon.
And there are some many festivals and events literally every weekend only say 30 minutes drive: like Budburst, Daffodil Festival, Winters Arts festivals with live Beethoven and Fireworks. Riding Clubs, Golf Clubs, Farmers markets, etc....
Community: we live in great, sharing, village community. No one cares what you earn, drive, do, etc.. they care about who you are as a person, how much you volunteer, how great a father or mother you are, who much value you bring to the community in your way.
Family: 1000% times closer.
You dont need a lot because:
In the city you spend a fortune to buy organic food in a boutique shops or pay $$$ in fine restaurants and even pay to park.
In the Country, parking is free, you either grow your own organic food or swap services (see jam below) with those who do grow it ( I cannot grow a thing). If you do buy the Food from the local butcher, baker, cheese maker it is much better quality for a much lower price than the city. i.e. Our meat comes from the abattoir 10km away and is 25% less than the city prices and much better quality.
My wife makes jam (a whole story in its self) and we swap that for local fruit and flowers at the fruit market, or freshly baked baguettes and imported cheeses at the french deli, or we take it the SWAP table at the local farmers market and get say, fresh herbs, rhubarb and pototoes for jar or 2 of jam. By the way we get the fruit for the jam free from locals who have trees overflowing but no skills or interest in making jam and happy to barter fruit for our jam.
Dining Out? Lots of Chefs doing the tree change open Cafe and Restaurants that are written up in Gourmet Traveller yet you dine for half the price of the city and the actual chef is doing the cooking not some trainee and you don't have to book weeks ahead.
It is colder here than Sydney. Much colder but to heat our home we dropped it $400 a quarter but using firewood. We get as much free firewoods as I can cut and put in my Ute from local farms. But again, you respect the community so if you cut three loads for yourself you deliver another load to the elderly farmer. You don't need gym fees when loading firewood I can tell ya! And my daughter helps and learns lesson you have to do chores to help the family if you then expect daddy to play barbie with you that evening.
Petrol does cost more because you travel more distances but rego is less, insurance much less (like half) and servicing again 50% under. And you don't need a flash new car. I have a Hilux Ute converted to LPG. Goes 400km on $25. Wife a Forester. We own our cars so no depreciation. NO ONE cares what you car is like as it is not statement on you anymore because they actually know you and YOU are a the statement on YOU. In the City we had amongst others, a Alfa Romeo and Mercedes benz sports coupes.
My daughter has the closest real friends and often has play date on farms. See pigs, cows, alpacas, etc. no petting zoo here. She values a birthday party that is mum making the cake and her friends making bead necklaces and wearing fairy wings. Not some yacht on the harbour or private disco. We don't miss out. Melbourne and the ballet is 1hr away. The library is 100m away from our house and many local authors do readings and put on plays for the kids. Free DVD hire, free books, talks, etc..
We have a GREAT public school equal to the best private school at no cost. The teachers want to teach, they want to be in the Country, they have the time to care and they do cuddle the kids when they fall over, know the parents and be the sports coach, singing coach, run the concerts etc. Parents are expected to be part of this and to help as readers, runs fetes, donate time (working bees) and goods ( see jam).
Horses. Always liked horses they cost a lot hey? well not yet. We have just been given our first pony for my Daughter "Pride" a pure white gelding. She is 7th girl to learn to ride on Pride and all we have to do is care for him. Medicine costs $10 a week and food another $10. Neighbours let us use their land and other neighbours share the care with their son and they are horse experts so they are teaching me. In Sydney we would be up for $10k for stable in centennial Park. $60 per hr for lessons. Vets $$$$ Food $$$. Riding even in town is safe and easy and many of her friends have ponys so it healthy outdoor play with lessons in responsibility and animal care.
DOWNSIDE: It is colder than Sydney. There are critters like possums that eat your fruit tree and poo on the cars and get in the roof. You lose the ability to parallel park. It is very wet. Gumboots are acceptable town wear. Kangaroos can hit cars. Black Ice on roads. And "people know your business". Not the place to have an affair as everyone knows everyone in some way or through someone.
I could go on but to those who say I need $500k for this and that I applaud your goal but suggest if you are looking at down sizing: ask yourself, is this figure based on costs re needs or just a guess. Start with the end in mind. You may find it is lot lower and you can do it lot earlier, if that is what you want. And you may find when you get the $500k you are too old to enjoy it.
As my motto says "It is not what you earn but what you keep"
Did I say, we love it?
Peter
