Selling Everything to Travel

Hi ,dont know what you own ,or age ect,have you thought about downsizing.Allways hard to get a start back. Dont want to sound pessimistict,love traverling.

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Your timing to sell out is pretty spot on the peak in property values. Some strategists say our home prices are of the order of 56% above the long term average (see graph) above. There is little likelihood of property prices rising in the foreseeable future - my view is that they will decline steadily for a number of years (until the afordability ratio improves at least) or they will go sideways for the next decade or more. Either way if you sell and invest the cash wisely you most likely will be able to afford a better home than you have now in years to come.
Disclaimer - this is my opinion and should not be taken as investment advice. Do your own research.

Best of luck and happy travelling which ever way you go.
Cheers

Try the forum search function...near the top left...type in Sell home or similar and you will find a wealth of information. Try thread 68806 as a start. Cheers.

Hi Travelbug :)

Your decision is really about "risk". If you get tired of travelling about, or if other circumstances such as poor health get in the way, then you need to settle down again.

If you are satisfied with the rig you have now and don't need the cash to upgrade, what about renting your place out for 12 months. You can get a handsome rent for a furnished house as long as you are prepared to cop some potential property damage, but the risk should be low if you choose tenants wisely.

As mentioned in an earlier reply, downsizing may be an option. Sell up, buy a smaller place somewhere and again possibly rent it out for 12 months.

Personally, I would always want some bricks and mortar to come back to.

Cheers, Gaz.

Bit hard with so little back ground info but we did this in 2006. If you own a house...keep it. Rent the sucker or whatever to cover the mortgage. Unless you have a specific long term plan, there is a very real need for financial security of some form.

It might also be of interest to know that what ever it costs to live in your normal day to day existence, the expenses of living on the road are pretty much the same. Our 13 months on the road cost us roughly the same as if we'd stayed put with mortgage and all. Factor that in and it puts things into perspective. This was free camping when we could as well. Two adults, no kids owned everything.

Food for thought.

Mick

Although different options work for different people, the safest solution would be to sell, buy a 'rental' in a reliable area, as you could sell that to finance your new home when you tire of travelling, or at a pinch, move into it. There are pitfalls and you may like to check out my website (in my profile) on full time on the road. I worked in residential property management for a while and saw it all :O

Motherhen

Thank you to all that have written in to give their most welcome advice. I am meeting with a Financial advisor tomorrow morning to go over our situation and to see what would work best for us. We have considered all the advice we have been given and are looking forward to this appointment with excitement. Hopefully it won't be to painful......hehehehe
Nevertheless, many thanks to you all and you never know we might meet up somewhere on the road and in that case, I would shout you a drink...
Cheers
TravelBug62

DO IT !!! There's a lifetime of things to do and see around OZ, no , make that three lifetimes.