By Graeme Salt
I thought about buying an apartment yesterday, but got cold feet as it made me wonder what do we want from a home?
I am a ‘rentvester’; I have decided to rent where I want to live while building an investment portfolio of properties around the country.
But, I am starting to wonder what I will want in future from a home – and have seen lots of friends my age ask themselves the same question.
I turn 59 in a few months – I know that will surprise those of you who think I am 25 😉 – and am asking myself, where do I want to live in the third stage of my life? Lots of my friends seem to want to retire and go buy somewhere rural.
I am definitely a city kid: I go out a lot; have a great social life and enjoy being close to the action. So, for me, it will be within easy access of the city.
Many of my friends aim to use the downsizer rule which allows individuals aged 55 and older to contribute up to $300, 000 from the sale of their home into their superannuation fund, providing a way to boost retirement savings.
Typically, rural properties are cheaper than properties in Sydney or Melbourne.
For me, I have chosen to buy property through tax-deductible dollars – with a view to moving into one of them.
The property I looked at yesterday was perfect: close to the city; walkable; accessible for when I get older; and with scope for me to improve it. My fear for many of my friends is that they will opt for bucolic pleasure but find themselves isolated – especially as they get older and need more-and-more medical appointments.
I came away unsure as to whether I should make an offer mainly because I was asking myself – what do we want from a home?
Graeme Salt is an award-winning mortgage broker. For a no-obligations consultation on your home loan needs, please contact him on 02 9922 5055.
