Hi all, we are now getting closer to making the major decision about heading out.

We are now planning at least two years maybe three and the whole matter of money has arisen as we knew it would.

We own our home but need the finance to buy caravan, two vehicle, etc and while we have money that we can access it won't be enough. So, we are considering selling our home but the centerlink issues arise that I will lose some or all of my pension.

There are some options I think but don't know them all, so we are throwing the whole shooting match into the forum and see what comes out of it.

We would really look for you comments as to where we might go with this issue as it has the potentional to stop the whole thing where it is, something that we are desperately trying not to do.

Be as blunt or scarry as you like we need to get as much info on this matter as possible. We are intending to sit down next weekend to take a long hard look at it.

Thanking you in advance
Brian and Cheryl



More thoughts

We would really like to thank you all for your returns to the above. You really have given us to think about and some directions of where to go from here. We are considering on our return to settle down in a small block but not sure where yet (Children and grand kids to consider) with the van and an semi attached annexe so that we can go again if we wish. as far as finace is concerned we will have  a reasonable amount to come back to and will use that to get resettled but we are not interested in a normal size home just need enough space for a small garden and vegie patch or so. Hate the lawn thing.

Once again thank you for your wisdom and willingness to share your thoughts

Brian and Cheryl 

-- Edited by briche on Monday 12th of October 2009 06:20:16 PM

-- Edited by briche on Monday 12th of October 2009 06:21:04 PM

-- Edited by briche on Monday 12th of October 2009 06:25:35 PM

In Hobart there is a firm call Synergy.  I have had some dealings with them in the past and they have been able to put my money into "baskets" that don't figure in the centrelink equation.

If you would like some more information, feel free to Private Message me.

Regards

Ma

 Hi Brian  & Cheryl, If you need to sell the house to get the car & van & fund the trip ,what do you do when the tripping around is over???????????????????????????????????/

Selling is one thing , you dont have to worry about the house ,but if you want to settle down later you need that money plus some more to get back into the market again.Unless you are happy to live in the van or rent a place.

We have talked to people along the way who have sold up to fund the trip ,just reading between lines             [ this is our personal opoin ]    is that a lot are going to come home with bum out of pants & nothing else. they have only thought of the here & now,,,,,,,,not the future,,,,,,,,,,we have kept ours

Wonder what it would be like to not have to worry about these things???????????????

Don't let me put you off,,,as this is our personal view,,,It's just nice to have somewhere to come home to if things go wrong like health, car probs ,family etc. The main thing is go and do it as soon  & as long as possible,  for many leave it to late.

C   U    OUTTHERE          GOOD LUCK> 

-- Edited by justcruisin01 on Sunday 11th of October 2009 09:09:41 PM

-- Edited by justcruisin01 on Sunday 11th of October 2009 09:11:08 PM

Hi if you are under 65 you can do what Ma has done , but once you turn 65 there no hiding anything, best advice talk to centrelink financial officer you can make appointment to talk to one of them very helpful .Also very good advice from Justcruisin spot on it like going oversea without travel insurance , get out of the housing market very hard to get back in with less money

Hi Brian and Cheryl
Have you given much consideration to saving money by doing your travelling more cheaply? Theres lots of people who dont have big caravan/mobile homes with all the bells and whistles, and we still manage to enjoy our travels.

If you rent out your home, the income will still have to be declared, and may reduce your pension entitlements too. But the biggest problem in selling your home (So my brother found after doing the "big one" with a top-of-the-range 5th wheeler and towing vehicle) is that when you return, and try to sell your caravan/tug, its value has decreased by a great deal, while the value of houses will have increased. He calculated the time spent in the 5th wheeler was very expensive when considering the money lost on re-sale.

Centrelink has financial advisors, they are worth an appointment for a chat.

Good luck

make an appointment with a centrelink pensions officer and straight after that make an appointment with centrelinks financial adviser after you have ALL information at your fingertips then make a decision as to whether to sell or rent or caravan/car combo over motorhome tell them both what your plans are, lay it all out on the table and ask lots of questions we have the same dream but also have the same fears the big "WHAT IF" factor, dont get me wrong it's a monster that must be battled, scary stuff to sell up and have nothing but a few dollars in the bank and a motorhome, we have the added factor of a handicapped laddie that I am not sure if I can part with or trust anyone else with his around the clock care I have found with most folks who sell up and "nick off" they are as happy as larks, however I have also met a few who are "trapped" once all goods and chattles are thrown to the wolves there is usually no going back, get all info and talk to anyone you can, make an informed well thought out decision whatever you do, I wish you all the luck in the world and the wisdom of solomon, you are going to need it!

Good post Briche you have asked a question which many of the people is this forum try to deal with which will answer some of those fears

You've had all the financial advice to set you on the right track. Take that advice first before you do anything else. This has to be right for you. Now, picture this - You keep your real estate and furniture, hitch up the van of your choice to the tug of your choice. You point the radiator in the chosen direction for the duration of your travels. You've seen everything you set out to see, lived the lifestyle you'd planned to live, in the confines of the van of your choice. Do you decide to return to that house and furniture at the current address? Or have you changed your perspective of lifestyle and living requirements? Is the house you left, the house you're returning to? Or have your rent-paying tenants reduced the value of your real estate during your absence? The decision is always yours. No one can make it for you. But if you've been comfortable in your van, travelling happily for months or years, will you want to return to the "nest"? Will your priorities change? How much will the nest, fixtures and fittings mean to you after your travels? Will you need the big nest, or will you be happier and more content with a smaller nest, eg unit? Or you may choose to keep living in the van. You may not want the furniture, fixtures and fittings anymore because travel in van life has changed your perspective. Will you want to continue taking short trips in the van from the nest? Will the van become your nest? What are your real assets? Property or lifestyle? Food for thought for everyone. My van and car are my assets, the most valuable thing I've ever owned. No bells or whistles, just the comfort of "home". I've rented most of my life, and saved my cash assets to invest. It's about priorities. I'm a gypsy by birth I think, so I don't like being locked in to a patch of dirt. A house is just a pile of bricks on a patch of dirt that I tend with TLC from the garden to the pride in my house keeping. If you invest wisely, you can continue to live comfortably with or without pensions, just having the Centrelink benefits. It's not about the cash component, it's about the benefits if you have the cash invested wisely to maintain your lifestyle. We've been "trained" to be home owners and feel guilty if we don't. I raised my kids in rented houses etc, and life did go on.

Brian - I am another who urges you to go and see Centrelink sooner rather than later.

I observe that a lot of the replies seem to have missed the fact that you still have to kit yourself out with a tug and a van. One way to do that is to downsize if your house has a considerable sale value. We downsized to get rid of a garden, but the cash we invested has been useful to upgrade our tug a couple of times.

When we downsized we relocated to a Manufactured Homes Village on the NSW Central Coast (in some states these are called lifestyle villages.) We own our own cottage but rent the land. In most states there is good legislation that protects us and ensures that if the village is sold then we must be fully compensated to relocate to another village. However I have not been able to find similar legislation for Tasmania but have sighted a paper suggesting it may be introduced. There are parks in Tas that have cottages similar to ours (like Bay View Holiday Village, Devonport.) The site rent in these villages is similar to all the fees in a body corporate style situation but you do not have to purchase the land, so it is much cheaper to move in. One advantage of being in a village like ours is you can get house and contents insurance that does not include that dreaded 60 day clause.

Do some real estate shopping and see if you can downsize and finance your tug and van within the deal.

PeterD

peter you can get rent assittance on these villages can you

PeterD wrote:

---

Brian - I am another who urges you to go and see Centrelink sooner rather than later.

I observe that a lot of the replies seem to have missed the fact that you still have to kit yourself out with a tug and a van. One way to do that is to downsize if your house has a considerable sale value. We downsized to get rid of a garden, but the cash we invested has been useful to upgrade our tug a couple of times.

When we downsized we relocated to a Manufactured Homes Village on the NSW Central Coast (in some states these are called lifestyle villages.) We own our own cottage but rent the land. In most states there is good legislation that protects us and ensures that if the village is sold then we must be fully compensated to relocate to another village. However I have not been able to find similar legislation for Tasmania but have sighted a paper suggesting it may be introduced. There are parks in Tas that have cottages similar to ours (like Bay View Holiday Village, Devonport.) The site rent in these villages is similar to all the fees in a body corporate style situation but you do not have to purchase the land, so it is much cheaper to move in. One advantage of being in a village like ours is you can get house and contents insurance that does not include that dreaded 60 day clause.

Do some real estate shopping and see if you can downsize and finance your tug and van within the deal.

PeterD

---

Briche,

Guru and I live in one of these manufactured home villages on the NSW south coast.

Would thoroughly recommend it as a downsizing move.  We have never felt so secure and while we are away doing the "nomad" thing we have neighbours who feed our birds, take care of the little bit of garden we have and collect our mail.

It was the best move we have ever made.  If you "google" manufactured homes villages I think you will find a lot more information that you might consider.

Good Luck

Ma

 

Yes - if you have even a small part pension then you are also renting so you receive rent assistance. If you are in a strata title then you are not renting anything, so no rent relief. This trends to put the rent in a manufactured homes village in front of strata title total expenses.

PeterD

After all your travelling you may not want to go back to Tassie. You may find another place you'd prefer to live in when you decide to slow down or stop. It happens. Those villages are a great idea. Stay independent, have your own home and little garden, with optimum safety. Giving the freedom to come and go, leaving the home in a very secure environment among trusted neighbours. Gee you have a lot of thinking and planning to do. Do what's best for you both.

This time last year I wanted to sell up but minister for finance said no way.
Tonight she rings me and says lets sell the house, now I'm hesitant.
Decisions, decisions.