retirement living, page-12

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booz

2,172 Posts.

03/01/15

15:36

Post #: 14531709
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Originally posted by malaga ↑

Thirty nine degrees today in Perth and cricket is boring, got me thinking of story in weekend paper. Woman bought house in Floreat in 1952 for 300 pounds, sold recently for $1.19 m. Cheers all, round, great story except for the last line which stated she has now bought a one bedroom unit to live in for $600,000. Sixty two years to make money and then half it goes on a crap unit to live in.
Lot of talk of boomers retiring and downsizing and I think many are in for a very rude awakening. Some stories
Friends bought unit in highrise cbd , all excited and well for first year, then the stories and regrets, no room to store toys, nobody visits as too hard to park and the wife. I thought we would meet lots of people but they are either young, at work or foreign owners it's lonely and isolating.
Friends live in Mc mansions Northern suburbs, wife wants to downsize, too much work to maintain, no way hubbie ego will not get him out. They are both bored and on anti depressants as do not know what to do with themselves. The catch is they have looked at smaller villas etc close to city and beach but not many want big trophy houses and hot demand for good small houses in action locations.
Retirement homes, forget it they are gods waiting rooms and try visiting some, very small world in there.
Many people may not have option but why not buy an investment property now that you will one day retire to. Maybe tree change, sea change or just smaller near a beach. Plan now for your future. My belief is that when boomers do realize there is more to life than how green your lawn is and how big your house there will be a glut of white elephant houses with price drops at the same time as small well located property is in hot demand. Certainly lot of changes in coming years.

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Hundreds of thousands of Baby Boomers will retire and seek a Sea/Tree change in the next 10-20 years. So smaller, well located property in key locations will definitely be in high demand. It will be interesting to see, however, whether or not the Baby Boomers will sell or keep their stately mansions? Obviously their offspring will be hoping that it is the latter
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