moan, I mean a real moan
#1
moan, I mean a real moan
well, well, well
Thanks to Mr Trudeau & Ms Wynne, me & the wife have been well & truly F****d even harder than 2016 going into 2017
Last year me & my wife OAS increased by $1/mth, so you can imagine all through the year with all the cost of living increases, especially the utilities, that we ended the year way behind inflation increases & our own out of pocket living expenses.
On January 26, 2017 the new rate for OAS kicked in & not was surpised that there was a big fat $0 increase, because say the government the CPI index did not warrant an increase CPI was '0'.
We just received a property tax bill for the first half of the year & its an increase of 3% over the first half of 2016.
Grocery prices I can deal with for the reason that we can price match, buy from the marked down selves, stock up on stuff, cut back if necessary, live on pots & pots of homemade soups & bread, but I cannot deal with the forever increasing utility & property tax.
Hopefully there are zero capital outlays, repairs or reno expenses expected this year, so its a 'hold our breath on that'.
I shall skip this years visit to the UK in the autumn to see my elderly siblings, unless one of them pops their clogs. No vacations or travel, cutting the same day cross border shopping to once per year.
A flyer in the letterbox today said that comparable properties in our area have increased 22% from December 2015 to December 2016
Maybe just maybe its time to sell up to move to a lower cost affordable place in Canada, or just maybe its time for a move back to the UK, so at least we'd get the 2.5% yearly state pension increase that every senior gets, then spend winters in southern Europe.
No says my wife, not till her 97 year old dad that lives 12 km away from us 'pops his clogs'
.
Thanks to Mr Trudeau & Ms Wynne, me & the wife have been well & truly F****d even harder than 2016 going into 2017
Last year me & my wife OAS increased by $1/mth, so you can imagine all through the year with all the cost of living increases, especially the utilities, that we ended the year way behind inflation increases & our own out of pocket living expenses.
On January 26, 2017 the new rate for OAS kicked in & not was surpised that there was a big fat $0 increase, because say the government the CPI index did not warrant an increase CPI was '0'.
We just received a property tax bill for the first half of the year & its an increase of 3% over the first half of 2016.
Grocery prices I can deal with for the reason that we can price match, buy from the marked down selves, stock up on stuff, cut back if necessary, live on pots & pots of homemade soups & bread, but I cannot deal with the forever increasing utility & property tax.
Hopefully there are zero capital outlays, repairs or reno expenses expected this year, so its a 'hold our breath on that'.
I shall skip this years visit to the UK in the autumn to see my elderly siblings, unless one of them pops their clogs. No vacations or travel, cutting the same day cross border shopping to once per year.
A flyer in the letterbox today said that comparable properties in our area have increased 22% from December 2015 to December 2016
Maybe just maybe its time to sell up to move to a lower cost affordable place in Canada, or just maybe its time for a move back to the UK, so at least we'd get the 2.5% yearly state pension increase that every senior gets, then spend winters in southern Europe.
No says my wife, not till her 97 year old dad that lives 12 km away from us 'pops his clogs'
.
Last edited by not2old; Feb 1st 2017 at 8:53 pm.
#2
Account Closed
Joined: Jan 2006
Posts: 0
Re: moan, I mean a real moan
Is tough out there for anyone who relies on government programs for income be it Pad or disability or insert name of program here.
BC still has housing rates for disabled set at 375/mo for a single and 570/mo for a couple. Good luck finding housing that low.
How are rents in your area? Would selling and then renting be more cost effective then owning and paying the associated costs to owning?
BC still has housing rates for disabled set at 375/mo for a single and 570/mo for a couple. Good luck finding housing that low.
How are rents in your area? Would selling and then renting be more cost effective then owning and paying the associated costs to owning?
#3
Re: moan, I mean a real moan
well, well, well
Thanks to Mr Trudeau & Ms Wynne, me & the wife have been well & truly F****d even harder than 2016 going into 2017
Last year me & my wife OAS increased by $1/mth, so you can imagine all through the year with all the cost of living increases, especially the utilities, that we ended the year way behind inflation increases & our own out of pocket living expenses.
On January 26, 2017 the new rate for OAS kicked in & not was surpised that there was a big fat $0 increase, because say the government the CPI index did not warrant an increase CPI was '0'.
We just received a property tax bill for the first half of the year & its an increase of 3% over the first half of 2016.
Grocery prices I can deal with for the reason that we can price match, buy from the marked down selves, stock up on stuff, cut back if necessary, live on pots & pots of homemade soups & bread, but I cannot deal with the forever increasing utility & property tax.
Hopefully there are zero capital outlays, repairs or reno expenses expected this year, so its a 'hold our breath on that'.
I shall skip this years visit to the UK in the autumn to see my elderly siblings, unless one of them pops their clogs. No vacations or travel, cutting the same day cross border shopping to once per year.
A flyer in the letterbox today said that comparable properties in our area have increased 22% from December 2015 to December 2016
Maybe just maybe its time to sell up to move to a lower cost affordable place in Canada, or just maybe its time for a move back to the UK, so at least we'd get the 2.5% yearly state pension increase that every senior gets, then spend winters in southern Europe.
No says my wife, not till her 97 year old dad that lives 12 km away from us 'pops his clogs'
.
Thanks to Mr Trudeau & Ms Wynne, me & the wife have been well & truly F****d even harder than 2016 going into 2017
Last year me & my wife OAS increased by $1/mth, so you can imagine all through the year with all the cost of living increases, especially the utilities, that we ended the year way behind inflation increases & our own out of pocket living expenses.
On January 26, 2017 the new rate for OAS kicked in & not was surpised that there was a big fat $0 increase, because say the government the CPI index did not warrant an increase CPI was '0'.
We just received a property tax bill for the first half of the year & its an increase of 3% over the first half of 2016.
Grocery prices I can deal with for the reason that we can price match, buy from the marked down selves, stock up on stuff, cut back if necessary, live on pots & pots of homemade soups & bread, but I cannot deal with the forever increasing utility & property tax.
Hopefully there are zero capital outlays, repairs or reno expenses expected this year, so its a 'hold our breath on that'.
I shall skip this years visit to the UK in the autumn to see my elderly siblings, unless one of them pops their clogs. No vacations or travel, cutting the same day cross border shopping to once per year.
A flyer in the letterbox today said that comparable properties in our area have increased 22% from December 2015 to December 2016
Maybe just maybe its time to sell up to move to a lower cost affordable place in Canada, or just maybe its time for a move back to the UK, so at least we'd get the 2.5% yearly state pension increase that every senior gets, then spend winters in southern Europe.
No says my wife, not till her 97 year old dad that lives 12 km away from us 'pops his clogs'
.
#4
Joined: Sep 2008
Posts: 12,830
Re: moan, I mean a real moan
On top of that you don't have to move.
#5
Re: moan, I mean a real moan
A flyer in the letterbox today said that comparable properties in our area have increased 22% from December 2015 to December 2016
Maybe just maybe its time to sell up to move to a lower cost affordable place in Canada, or just maybe its time for a move back to the UK, so at least we'd get the 2.5% yearly state pension increase that every senior gets, then spend winters in southern Europe.
.
#6
Re: moan, I mean a real moan
@ post #4 & #5, Other than downsizing (one thought, lower property price & lower property taxes) at 70+ would seem to be an ideal age to start to max out on a 'reverse mortgage', although at 5+% compounding yearly, I believe the equity may deplete faster than an capitial property price increase?
Options are
a) sell the property & rent a nice apartment in the area we live in that includes utilities for ~$1500/mth
b) Move to a different part of the country, or downsize to something within 10km that the difference releases minimum $100k or more capital together with less property taxes & utilities to spread over the next (hopefully) 20 years
c) sell up & move back to the UK
d) equity release/reverse mortgage
And on any equity we'd have from a sale, downsizing or equity release there is no friggin way that we would give it to a 'financial advisor' to play with, or any ETF's, balanced funds etc. Simple GIC even if its 0.1%
Options are
a) sell the property & rent a nice apartment in the area we live in that includes utilities for ~$1500/mth
b) Move to a different part of the country, or downsize to something within 10km that the difference releases minimum $100k or more capital together with less property taxes & utilities to spread over the next (hopefully) 20 years
c) sell up & move back to the UK
d) equity release/reverse mortgage
And on any equity we'd have from a sale, downsizing or equity release there is no friggin way that we would give it to a 'financial advisor' to play with, or any ETF's, balanced funds etc. Simple GIC even if its 0.1%
#7
Re: moan, I mean a real moan
Some have done it
#8
Re: moan, I mean a real moan
Buy a smaller property in Ontario and a seaside flat (cheap) in Britain. You'll then be able to take extended breaks in the UK to see if you still like it.
#9
Re: moan, I mean a real moan
At our age, if we were to live in one country, then for 1, 2 or three months a year we'd rent a holiday let, hotel it, B&B
On that stay here in the area we live right now, is sell the (no mortgage on it) house, bank the money, we could in fact get 1% net
Right now the expenses are, Property tax, all utilities repair & maintence, gardening plants, bits & bobs is costing us at least $1000/mth across 12 months.
A all in rental with utilities included would be ~$1500/mth, so that'd be a top up $500/mth out of pocket that would come from invested in a GIC from the proceeds of the sale of the house
.
Last edited by not2old; Feb 1st 2017 at 10:46 pm.
#10
Re: moan, I mean a real moan
My 2c
Sell said inflated property, cash in on your million dollar windfall then buy a little place in Kingston or somewhere where property is cheap as chips and live on your pension and the extra overflowing 100's of thousands that you can ram into the bank.
Sell said inflated property, cash in on your million dollar windfall then buy a little place in Kingston or somewhere where property is cheap as chips and live on your pension and the extra overflowing 100's of thousands that you can ram into the bank.
#11
Re: moan, I mean a real moan
70 is not that old. Trump is 70 and look what he gets up to. If you had two small properties, you wouldn't need to rent them out, just use them as you see fit. Obviously air fare is a consideration, so it depends on income levels. You would likely see some capital appreciation over the period you owned the properties. However, probably the biggest question is whether you want to live in the UK again. Might be worth deciding that once and for all, and then you can better plan your future.
#12
Re: moan, I mean a real moan
1. 70 is not that old. Trump is 70 and look what he gets up to. If you had two small properties, you wouldn't need to rent them out, just use them as you see fit.
2. You would likely see some capital appreciation over the period you owned the properties.
3. However, probably the biggest question is whether you want to live in the UK again.
On the 3 points above in your last post, more thought needed, although owning two properties was not on the table.
What magnumpi posted about relocating to another town in Ontario, lower property price with lower property taxes could be a consideration, although, the winters are what we've been trying to get away from to a more moderate all year round climate without having to fly here, there & everywhere + healthcare is a huge factor in all of this.
Appreciate all the responses & input
#13
Forum Regular
Joined: Mar 2013
Location: Washington State
Posts: 189
Re: moan, I mean a real moan
Not2old
So sorry that things are not very good right now I have been in US 47 years now and still planning on going next year.....sooner if I can manage. Situation in US is not friendly either and downright uncertain to say the least! Just want to go home, though I certainly understand about your FIL. Is he too frail to make the move with you? Anyway, hope you come to a resolution that is good for all of you. Best wishes, Chris
So sorry that things are not very good right now I have been in US 47 years now and still planning on going next year.....sooner if I can manage. Situation in US is not friendly either and downright uncertain to say the least! Just want to go home, though I certainly understand about your FIL. Is he too frail to make the move with you? Anyway, hope you come to a resolution that is good for all of you. Best wishes, Chris
#14
limey party pooper
Joined: Jul 2012
Posts: 9,982
Re: moan, I mean a real moan
I feel for you, Rising prices are scary and I see no end to it.
I don't think moving back to the UK is an option due to house prices there. Sell up and downsize. Move to Cobourg with Bristol.
I don't think moving back to the UK is an option due to house prices there. Sell up and downsize. Move to Cobourg with Bristol.
#15
Account Closed
Joined: Jan 2006
Posts: 0
Re: moan, I mean a real moan
Nice little town. I liked that area when I was there, not too big, not to small, fairly easy access to Toronto and other destinations on Via Rail. Nice location on the lake as well.