Start of the young people moving to small towns/coastal areas?

Discussion in 'Investment Strategy' started by jins13, 4th Jan, 2017.

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  1. Shazz@

    Shazz@ Well-Known Member

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    But then you miss out on all the tax incentives (for your IPs)
     
  2. Mike A

    Mike A Well-Known Member

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    I remember the seachange phenonmenon over 20 years ago. Even had a teleseries on it. Nothing new.

    Many get bored and go back to the city.
     
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  3. Shazz@

    Shazz@ Well-Known Member

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    True, and I probably will. But by living in a regional area, you get to set up yourself financially (due to the lower cost of living). Move back when you can be financially free in an area you actually want to live.
     
  4. Mike A

    Mike A Well-Known Member

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    Agree if you can find work its a great idea.
     
  5. spoon

    spoon Well-Known Member

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    Totally agreed. Lived 5 years in NSW largest inland city and even though it had everything for living one's life, something weren't there. Eg., no one will allow you bulk billing when you see the doctor. My wife needed to schedule her caesarian because every O&G specialist was out of town during X'mas. Gossiping can be a burden because everyone knows everyone, more importantly someone will be working at your company's HR department and know more. Yes, supposed to be private and confidential information but not after a couple of bottles of wine! Most importantly, exposures for the kids are limited when they come to teenage years. BTW, don't get really ill. You have to make a lot of trips to Sydney for advanced treatments. Either driving or flying would be killing... if you are that ill.
     
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  6. jins13

    jins13 Well-Known Member

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    Since the day when l posted this thread, l seriously think New Zealand will be a great fit to raise a family and a government that actually governs! If given the option, would like to settle in the windy city of Wellington or ChCh. Just love the friendly people, landscape and great environment to raise a family. Sometimes l feel that here in Australia, we've lost our Australian way of helping a mate out.
     
  7. Phil_22

    Phil_22 Well-Known Member

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    In the Regional City I live in - Armidale NSW. I am seeing an increasing amount of young professional families moving back to Armidale from Sydney.
    These tree changers traditionally already have a connection to the place i.e. They grew up here, went to University here, there parents have retire here etc..
    Armidale with NBN fttp allows them to work remotely from home holding down a city wage living in Regional Australia.
    There are other benefits such strong education here, media house $350K, 5 minute commute, sporting & culture opportunities.

    Traditionally the town has held back by poor council decisions however the place is now on the move with population increasing, jobs growth and Industrial expansion happening.
     
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  8. NHG

    NHG Well-Known Member

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    I find for the majority. Their only asset is their PPOR.

    Many may move to say Adelaide.
    30 years later, their property is worth $500K.
    Sydney is $1.2M.
    They are now priced out of Sydney.
    They either have to take on the mortgage they were trying to avoid.
    Or stay in Adelaide.
    I've seen it among my dads friends who chose to live elsewhere early on. Even with huge incomes.
     
    Last edited: 15th Oct, 2018
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  9. Shazz@

    Shazz@ Well-Known Member

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    Perhaps something else has kept them in that place? E.g kids etc?

    Personally, moving regionally has allowed me to pay off my PPOR, and start an investment portfolio. This is all within 3 years.

    There’s no way I would of been able to do that so soon while living in Sydney.

    Anyway, everyone is different.
     
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  10. NHG

    NHG Well-Known Member

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    As stated. For the majority.
    There are also multi-million dollar rural properties.
    And mutli-millionaires.

    For the majority, if you have purchased investment properties. If they are encumbered. It will impact your borrowing capacity. So it will make it even harder to move back.

    I also lived rural for about 7 years. High income. Low expenses. It was great. I was not in the majority.
     
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  11. TAJ

    TAJ Well-Known Member

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    I gather from your statement here that after 7 years living rural on a high income and low expenses you decided to up kellick and return to the city. Why?
    I have never understood leaving....... to go back. Hey, but that's just me.
     
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  12. NHG

    NHG Well-Known Member

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    Left for work. Came back for family. Now have business here.
    I would always encourage those that can leave to just go.
    I would also encourage those not on a higher income ($250k+) to move out.
    It's expensive here. why scrounge when you can have a higher quality of life elsewhere.

    It's on my vision board to move to South America for 6-12 months in 2021.
    Then talking about raising kids in Forster, or elsewhere afterwards.
    We are stream lining business. Still need to be here every week/month to check-in. However don't have to commute daily to city or anything like that.

    We are also working PayG atm. I do have to be in Sydney for that. I enjoy the work most days. I still have to work. Doesn't have to be this job though. I could pick berries. Same same.
     
    Last edited: 17th Oct, 2018
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