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Where do you want to retire?

Discussion in 'General Property Chat' started by Jeah_, 24th Nov, 2015.

  1. Jeah_

    Jeah_ Well-Known Member

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    We're just about to build house number 5. It'll be a PPOR for about 5 years and then turn into a rental. By that time, we'll be late 40s and the wife's next transfer could well be her last, or second last at the most (she's a primary school principal with about a 7 year cycle). We hope to develop a vacant 1/2ac block we already own in regional NSW by then into a 3x2x2 and 2 of 3x2x1 duplex in this employment cycle of the wife's we are in (5 years left in cycle, but hope to develop in next 12 months).

    After that, we hope to buy another 1-2 IPs a year for the next five years, and then look at more liquid investments.

    Out of those seven to ten IPs we hope to buy in the next 5 years, we've had lots of discussion around where we actually would enjoy living with a view to buying something in the right place to retire to.

    Have you planned where you want to settle when you retire? Is it multi location plan? Where is your ideal place to while away the time?
     
  2. MTR

    MTR Well-Known Member Premium Member

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    Nice post
    Where do you want to retire?

    I live in Perth retired, but also considering buying another primary residence in Melb for lifestyle and as my oldest daughter will be moving to Melb, best of both worlds, I love Melb

    If it were practical I would love a home in Italy and spend 3-6 months pa

    mtr
     
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  3. Scott No Mates

    Scott No Mates Well-Known Member

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    Ah, to chase perpetually short days and sub zero temps. So multiple abodes across highland Victoria, Cardrona, Furano, Banff/Whistler and Cortina. I'm bound to find some reasonable weather between all of those spots.
     
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  4. Starlite

    Starlite Well-Known Member

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    I just googled house swap after reading your post.. pretty impressive houses all around australia without the need to own in multilocation.. i think i will be doing that in the future..
    or maybe we can do pc members house swap :D
     
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  5. bob shovel

    bob shovel Well-Known Member

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    Why wait to retire?? Do it while you can enjoy it!

    Can't you chase work in more preferred areas?

    We're moving around too and the more you move the more you know what you want from a community (and don't want) but also makes it harder to accept the idea of sitting still!
    NSW north coast(not Byron) is leading the way or sunny Coast. Could go south coast NSW but it's too cold!
     
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  6. Jeah_

    Jeah_ Well-Known Member

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    We're still not sure. The closest we've come to agreeing on something is a house on the sunny coast in QLD, and a CBD unit in Melb, with time shared between both. Although this will require us to step outside our comfort zone and actually buy a unit; to date we've avoided anything with strata fees like the plague

    A house in Italy/Spain/France would be a pipe dream on top to spend our winter at.

    No doubt the discussions will continue..
     
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  7. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

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    I'd like to see a lot more of the world before considering some options for bases.

    Definitely spread across multiple continents though.
     
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  8. bob shovel

    bob shovel Well-Known Member

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    Tasmania?? :p
     
  9. hobo

    hobo Well-Known Member

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    While it was *never* my goal, I always knew I'd have to move back to FNQ at some point (extended family commitments) so for those reasons, that's where I "want" to retire.

    So at this point, I'm planning for:
    - home with a view in FNQ (ideally with spare bedrooms &/or granny flat)
    - holiday apartment in Melbourne
    - holiday apartment in Brisbane (not necessary, just a nice-to-have)
    - enough free income to put towards LOTS of international & domestic holidays. :D
     
  10. Xenia

    Xenia Adelaide Property Manager Business Member

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    I have a big 5 bedroom house - would love to downsize to something on a lake front or beach that's 1/4 the size when kids grow up and move out.

    But retire - never!! :)
     
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  11. Jeah_

    Jeah_ Well-Known Member

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    Good question!

    But, frankly, for us to achieve our strategy, we both need to work full time for the next 10-12 years, at least. Whilst I can be based pretty much anywhere on the eastern seaboard within 1-2 hours drive of a decent airport, the wife is in the NSW dept of Ed, and is therefore limited to NSW to realise her pretty attractive salary.
     
  12. euro73

    euro73 Well-Known Member Business Member

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    If its wish list time.
    Apartment in downtown Chicago... easy access to New York, Canada, Europe. Most underrated city in the US. Fantastic Summers and stunning ( but very very very cold) winters.
    Villa in Bali... just north of Seminyak or just south of Jimbaran... far away from KUTA and the bogan crowd. I have an Indonesian wife so ownership rather than leaseback is possible.
    Cottage in Galway, Ireland. I have dual Aus/Irish citizenship so again - easy done. Best pub scene in Ireland, and on the West Coast where all the beauty is, and only 1.5 hours to Dublin.
     
  13. bob shovel

    bob shovel Well-Known Member

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    Can she jump across to another state Education department? Surely its similar across the boards. Where are you working? Anywhere driving distance from you for a change.you could do Dido

    Great strategy BTW!!
     
  14. MTR

    MTR Well-Known Member Premium Member

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    Nice:)
    the thing is perhaps cheaper just to rent.
    This is what we found with Italy and this way you go when it suits and not paying for maintenance etc etc
     
    Last edited: 25th Nov, 2015
  15. Jeah_

    Jeah_ Well-Known Member

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    Not without going backwards and taking a significant pay cut. She also loses transfer priorities, department paid relocations and a bunch of other stuff.

    My job is highly mobile. I work pretty much all up and down the east coast, no fixed abode really. Tonight Bendigo, tomorrow Brisbane for the rest of the week. Next week Syd/Newcastle and then Rockhampton. Then home for a week or two...maybe
     
  16. JDP1

    JDP1 Well-Known Member

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    I may be the odd one out...but I'm pretty happy where I am and wouldn't mind retirement where I currently am..although that's a long long time away an my opinion could change.
     
  17. euro73

    euro73 Well-Known Member Business Member

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    Yeah I agree... decent villa in Bali is 500K... I could fly there 3-4 times a year and stay at a nice place for a month for less than 10K, so I could go twice a year for 25 years for that same 500K.

    But with an Indonesian wife- we can actually own it and rent it out when we aren't using it... so it may be a "commercial" decision that makes sense

    Of course- all hypothetical.... right now I'm busy building the empire here :)
     
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  18. bob shovel

    bob shovel Well-Known Member

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    Really?? Aren't teachers /principals in demand everywhere,and they offer the same perks
     
  19. WestOz

    WestOz Well-Known Member

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    Home will always be near my kids/grandkids.

    Holidays, wherever they maybe will be wherever I decide to go.
     
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  20. SouthBoy

    SouthBoy Well-Known Member

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    I just did a simulation on how much my Super balance would be at 67, it said $400k. I am in big trouble, unless my Logan properties fire up in the next few years. Would love to retire in Bali, due to the weather and proximity to home. But home ownership is a problem in Bali. So most likely will retire in Penang, Malaysia.
     
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