itchy

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Everything posted by itchy

  1. Like the rest of us, these so called experts have no bloody idea what the economic conditions will be in ten years, let alone the price of housing. We are in the era of peak oil, peak debt, peak everything and the threat of another economic collapse is ever present. Their predictions are a guess, a hope a clutch at straws. They are trying to gee up the market by inspiring confidence, perhaps the only option left to them right now. How dare they think that we will believe their bullsh*t, they know as much about the future as I do.
  2. Hello all, Hope I'm in the right place, and apologies if I'm not, but here it is...I'm here looking for info and advice. For decades now I have been leading a ridiculous life, working crazy hours just to sustain what was once the great aussie dream, you know... house, cars, appliances ... all that stuff. I'm 50, have 2 kids, 7 and 3, and a partner I love. For quite a few years now we have been looking at our lives an thinking that the way we are living is less than satisfying, and for at least a couple of those years we have been planning our escape. We want to scale right back, have time for family, and just for living life. We want to live in a less materialistic and more sustainable manner. One thing I've realized having hit the half century is just how much of my life, percentage wise, has already gone. And just how little is left. I have so many colleagues in my game (travel intensive) who tell me that their greatest regret is not seeing their kids grow up. I'd hate to look back on my own life and feel the same way. Our situation is this, we have recently sold our house in Sydney and have enough cash to buy a modest place on a couple of acres in our area of interest (northern nsw) we also have an income stream (very modest) that will cover our living costs if we're careful. I can make a few bucks remotely in my job, but not a lot. My wife wants to work but we're well aware of the lack of employment opportunities up there, and can survive (just) without any further income. We've spent a lot of time sussing out the schooling options and are happy enough with all that. So we want to do the big escape, we're ready to go and excited about it all. But of course the dream is never the same as the reality, so I'm here to ask if anyone here has actually done it ? And if so, how did it go ? I have a million questions to ask, but won't attempt to inflict them upon anyone unless they show an interest. What do you think guys, am I doing a sensible thing, or is it a crazy pipe dream ? I'd be particularly interested to hear from anyone who has done something similar, and find out how it all turned out. Thanks for reading...
  3. Yeah, and housing and the banks seem to have such a complex symbiotic relationship that anything could happen.
  4. Happy to oblige, I think it's going to happen.
  5. Congratulations man, well done and mortgage free as well. A great position to be in. Sure prices may go down a bit, they may go down a lot, but does it really matter ? If you have bought yourself a home rather than a speculative investment I'd say it doesn't. When the time comes to move on you will be selling and buying into the same market so, apart from a few bob either way, the difference will be minimal. Up until last year I had been a property owner (read debt owner) for 25 years. Even at the peak of the boom, with all my money tied up in my house, I was hoping for a price crash...why? Because I have kids, and I could see that the world they are about to inherit was not going to offer them the luxury of home ownership as it did me, my mum and dad... and theirs... Now I have sold my house and the money is sitting in the bank. I lie awake at night thinking that everything we have worked for our whole lives is just a string of zeros and ones sitting on some bank's computer, at the mercy of whatever the next financial catastrophe happens to be. I cant wait to turn those ones and zeros back into something tangible for myself and my family. You have bought you and yours a home, something that no one can take away from you, something that suits your needs well. If prices continue to decline it can only be better for all of us.
  6. Clearly I posted my question on the right forum. What a great selection of thoughtful and intelligent responses. Thanks to all who took the time to reply. All the issues you folk have raised are great food for thought, and doubly worthwhile because they come from those who have some experience of that lifestyle. I have to say that many of your comments are the very things I have been pondering. So thanks again one and all, very much appreciated. It's a breath of fresh air to find a friendly forum like this, hope I can hang around.
  7. Thanks very much for your thoughtful reply Max, a lot to consider there. We're not trying for the self sufficiency thing but would like to have a bit more of a connection with the seasons and our food supply. Also we see it as an opportunity to set up a home that has less of an impact on the planet. Most importantly though, the move would also allow me more time with my family, which is the strongest motivating factor for me. I certainly take your point about the time involved in maintaining even a small block. I've seen it first hand as a mate of mine bought 15 acres up at Possum Creek, it was beautiful when he bought it about a decade ago, but he still works pretty much full time, and now feels that he has become a slave to the place, and doesn't really have the time to look after it properly. It's quite disappointing to see a beautiful place like that so neglected. I suspect I could manage an acre or two, but perhaps I need to think that through a little more. Can I ask, are you a family man, and if so what are your thoughts on raising children in the country ? I'm pretty sure it'll be great while they're little but I do wonder about the later teenage years. Having said that, we'll probably be less than 10 mins from a small town and half an hour from a large one...two and a bit hours from Brissy. I've been thinking about this for probably half my life and it seems to me now that it's probably more achievable than ever before. My partner is as keen as I am. I guess the reason I'm posting here is to hear the horror stories as well as the successful ones, to find out the things I may have overlooked. It's one thing to have a dream, the reality may not be quite so rosy. Thanks again for taking the time to reply Max.
  8. Thanks for the response. Yes, we will rent for the first 6-12months just to get a feel for the area and work out more fully what we want. That also gives us an easy option to bail out if we decide it was all a horrible mistake, which I doubt. As for selling our Sydney place, too late on that. We sold it in the second half of last year as we felt the housing correction was on the way. So far that appears to have been a good decision. Being cashed up also puts us in a good place if the perfect property comes along, although I wouldn't move on anything until it becomes clearer how far the present contraction has to run. Is there anyone out there who has done the city country move ? If so I'd be very interested to hear your thoughts.