Baby Boomer's having their cake and eating it too!

Baby Boomer's having their cake and eating it too!

Where to retire is a big question for the baby boomer generation but if you’re in a financially sound position you don’t necessarily have to choose just one location. 

Many of my retiring clients in this situation are choosing to ‘have their cake and eat it too’.  They want the ongoing holiday lifestyle but don’t want to give up their friends or family roots.

Many sell the large family home which gives them the funds necessary to buy a ‘base’ in their current city and another property in their ‘sea change/tree change’ destination and they then interchange between the two. 

It allows them to keep in touch with their network of friends and family, especially the grandkids, while also experiencing that holiday lifestyle more often than just a couple of times a year.  By buying low maintenance property such as apartments, especially in the location where they are going to spend the least amount of their time, they can simply lock and leave it when they feel like it.   

Further if each property is well selected then down the track should they decide to spend less time in one of the locations then the other could be rented out to top up their income rather than liquidating the asset.  There are several other considerations however this is just one to think about in this situation. 

If you’re planning to downsize in the next few years then shoot me an email here or give me a call on 02 9904 4722.  Having helped dozens of people through this process I have learnt important information that I can share with you to make the transition smoother and more cost effective for you.

Categories: Investment Property