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Thanks for the thread, Pru…
My parents and I have had the same discussion.
They too have thought about investing in a unit at a retirement village (somewhere like here).
These answers have been very helpful!
Retirement does seem SO far away when you first start work, but my advice would be to start saving for retirement with your first pay. Even if it is only $10 per week. That small amount is better than nothing and it will amount to something over time. Deposit your 'retirement' savings into a term deposit and once that grows look at other investments, whether it be shares or property.
If you wish to live comfortable during retirement you will need approximately $50k per couple. This amount will cover private health insurance, travel, car expenses, gifts, new clothes, etc.
If you are looking to retire and live in a retirement village, then that is a whole another expense. You really need to do your research and ask questions such as, what is the initial cost, what are the ongoing expenses and what is the exit cost and are these expenses likely to change? Like any other property investment the price will vary depending on the size, style, condition and position of the home.
once again great info…
A buyer's agent is also a possibility for those who do have the time to do the research themselves.
Not only will they find a list of suitable properties, but some will negotiate the selling price on your behalf.http://www.ljhooker.com.au/ask-lj-hooker/about-buying/what-is-a-buyers-agent
Ballarat in Victoria…It is an hour away from Melbourne.
very inspirational read…thank you!
Cattaby wrote:Also looking for a surveyor in the Melbourne region (who can service the northern suburbs i.e. Pascoe Vale) who can draw up a depreciation report. Anyone know of anyone, and general costs?the goodmen surveyors (http://www.thegoodmen.com.au/) have got a great reputation…
Okay…thanks MarJac.
It is such an unknown. And finding a recommended builder to give us another quote for comparison is becoming impossible.Remove old chimney
Build a wall and cavity door
Water proof membrane
Plastering walls
Arcs and skirts
Pine flooring (not including sanding)
Tiles and tiling
Asbestos removal
Bin hire
Bi-fold door in laundryTips for buying real estate…
1. Ask yourself where do you want to live and what type of property do you want to live in. Do you want to live in the city, near the beach, in the country, etc? It is not only more enjoyable to live in good area, but it will enhance the value of your property.
2. Consider growth areas with good access to local facilities.
3. Once you've decided on where you want to buy, make a list of what is important to you in a house, i.e. number of bedrooms, lock-up garage, view, backyard, period features, etc. Then be prepared to compromise on a few things.
4. Are you prepared to renovate?
5. Look for at least one special feature, i.e. designer interior, large backyard, period features, etc.I had a feeling it was heading down…
