bakedbean

I live here in Penang for 12 months of the year....for various reasons, but I occasionally have little fantasies about spending some time (Spring or Summer maybe) somewhere in the southern Mediterranean. Mmm Cyprus maybe. It probably won't happen but...it's a nice little dream

I know of some folks who split their time 50:50 between Malaysia and somewhere else. I have heard Spain is a popular option. Cyprus too.

Some of my Aussie friends flit back and forth to Australia. Some of my British friends go back to the UK in the Summer. Some of the dafter ones even go back for Christmas

So, do any posters on there do this? Would you do it? What are the problems?

I can think of logistical problems. Would you have a car in each place? A bit costly perhaps. Would you own a property in each place?

NeonHippy

Hee Hee, dangerous questions BB. The answer to these will depend so much upon the individuals aims and objectives so whatever answer is given by one will be immediately rebuked by someone else with different criteria. For example lets say that I choose to split my time between Myanmar and New Zealand, both countries are new to me and I wish to travel around them extensively. Owning a car in each might be the best financial option but if I choose to split my time between London and Malta and had no particular desire to travel I would not need a car in either location as both are well served by public transport. Although London Transport seems ridiculously expensive compared to Malta.

However to get the ball rolling these are the answers that go with my aspirations. Yes we thought about splitting our time between the UK and SE Asia. It is not possible in our current home as the livestock and garden could not be left unattended for much more than 1st Dec- 1st Mar. Our primary aspiration in the earlier years of retirement is to travel and see places that we have not been to mainly through lack of time whilst working in full time employment as well as running a small-holding. You could point out that there is a lot of the UK that I haven't seen but we are more adventurous than that. There are large swathes of Europe that I haven't seen but I feel I've seen enough that new locations don't seem all that different. Whereas SE Asia has a handful of countries we have yet to visit plus Chine, Japan and New Zealand that have long been on our list. Given all of that then the lower cost of living, tax free benefit and proximity of Malaysia to the other countries means we are likely to fit more of this in before age and health start to curtail our travels. Once those choices are made then dual locations are not an option.

Now once we stop travelling spending the summer in Malta starts to look attractive. Renting a small apartment is the only cost as the buses cover the island and for not much more than 1 euro you can ride the buses all day long. But that assumes our second home is in Europe. Make that another country outside of Europe and the cost of maintaining two sets of deposit starts to become too rich for me.

Equally ownership of property in each starts to make life complicated in terms of planning for the future with wills and everything else that goes along with mortality.

eigpjv

Hi BB,

This is something I have been thinking about if I eventually take up essentially full time residency following retirement. The only way it would b viable for me is if I can offer the self catering beach front flat that I own in Cape Town for a "house swap" with someone in a place I wanted to visit. I am told that if done properly (e.g. car included) then it is quite cost effective.

While the various swap sites may do the trick, I think I would prefer to rely initially on our linkedin and facebook network. At least that way most will be known entities, probably also retired and free to travel but with a finite budget.

Still have to think it through but that is the idea.

Peter

bakedbean

Interesting thoughts re house swaps but wonder how that would work with life's unpredictable ways. What if you were about to swap back homes and one person got ill, got hospitalised? Too many What Ifs.

teejaydee

I have read stories in recent years about people swapping houses. Most of these swaps seem to work out well, but I have also heard some stories where problems arise. I personally would not like to do a house swap. I am quite possessive and would not like the thought of strangers rummaging through my drawers and maybe causing damage. As for the thought of them driving my car, .

If I were to divide my time between two locations, I would have to either rent or own the second property. Obviously, owning is expensive and although I could get income by renting out the property during the time I was not there, again I would not like to do so in case I had bad tenants.

teejaydee

Yes, for me the logistics would be my main concern. Assuming I could afford to do so, I would want to own both properties. I would like them both to be available at all times, so would not get involved with renting out one property when I was in the other. I could then leave clothes and other belongings in each location. As for the car, I would like the properties either to be in locations with good public transport, or within walking distance of shops, restaurants, etc. This implies living in a town or city in at least one of the two locations. Also, I think apartments are better - less worry about security and garden upkeep etc. while I was away.

I knew someone many years ago who talked about having two properties in Europe; one in southern Europe and one in the north. He was going to have just the one car, and drive between the two. Of course, many British residents do this when going to spend time in Spain or Portugal etc. I doubt this idea would work if one of the countries is Malaysia. I know it is possible to drive to Thailand and beyond, but would anyone want to spend six months in Malaysia and six months in Thailand?

Another idea I had (which again is an expensive one) is to own a motorhome and leave it in the Netherlands. I would pick it up and drive it around Europe for several months in the summer, and then leave it in the Netherlands and return to Malaysia. The only reason I mention the Netherlands is that I found a company that offers the service of taking care of motorhomes for several months of the year. Anyone interested in sailing could substitute a yacht for the motorhome.

Another idea which was mentioned to me by someone who I met in Penang, sounds similar to the much derided timeshare concept. Apparently there are companies which own apartments throughout SE Asia. The tenant pays them a yearly rent, and then is able to choose in which location he/she wishes to live during the year. I was given the example of someone spending three months in Malaysia, a month in Hong Kong, a couple of months in Singapore, and the rest of the time in China. I have not looked in to this, but it sounds interesting. I am sure the yearly rent would be quite high, but the flexibility is attractive.

bakedbean

Some very interesting ideas teejaydee.

Talking of boats.... I know of a few folk who flit around different countries in their yachts. I believe going back and forth from Langkawi to Phuket is quite a popular route.

NeonHippy

I agree, owning both properties is expensive and ties up a large amount of capital. Having already invested heavily in our children's education and early lives it is now our view that they are well set up and not in need of an inheritance so it's our turn to enjoy the money.

Also renting would require removal of all personal affects in the rented property. Like you I wouldn't want someone rummaging through a drawer full of my underwear! I also thing, from experience, that the more expensive the property you have to rent out the better your chances of getting a good tenant. I once tried entering the buy to rent market with a very small studio house. It was a disaster with the tenant leaving with rent owed and the place smashed up. By contrast I had a six month secondment to USA that coincided with the landlord of my local wanting to do some renovation work in the pub. We were very happy to have him as a tenant. Better the devil you know.

The problem is, if anything goes wrong, you are thousands of miles away and totally reliant upon an agent.

teejaydee

Quite right!. I believe this is know as going skiing (SKI being an acronym for Spending the Kids' Inheritance.