Sort of retirement plan
#61
limey party pooper
Joined: Jul 2012
Posts: 9,982
Re: Sort of retirement plan
Vacation rentals don't have to be houses, a trailer is a good option. Depending on the site you might not get winter access for ice fishing etc but the initial investment would be lower.
https://m.realtor.ca/Residential/Sin...Ontario-K0L2G0
https://m.realtor.ca/Residential/Sin...Ontario-K0L2G0
#62
Re: Sort of retirement plan
Vacation rentals don't have to be houses, a trailer is a good option. Depending on the site you might not get winter access for ice fishing etc but the initial investment would be lower.
https://m.realtor.ca/Residential/Sin...Ontario-K0L2G0
https://m.realtor.ca/Residential/Sin...Ontario-K0L2G0
#63
Re: Sort of retirement plan
unless you have the knowledge, experience or the gut to do this especially in your 50's,then DONT
Bristol has experience at being a landlord, so have I.
Even with all the time on your hands & when its distance from where you live to the 'sitting tenants' - it really isn't worth the agro
or, would you want to have a duplex where you live in one half & rent the other out- or possibly a property that has a basement that you could rent out?
When you have tenants you are always on call - its like having a dog or an elderly relative.... you never get to go on holiday or have time to yourself
Should you stay in Ajax, consider downsizing + a cottage for summer retreats & maybe rent the cottage out for a few bucks in season so it pays the running costs, property tax & maintenance
I stick with the 'if you are going to move to have free cash from sale & what you buy, then keep in mind the healthcare situation that its available & you have all other amenities close.
No use being in a $250k property in the middle of nowhere, should you get snowed in, no power or a health scare
#64
Re: Sort of retirement plan
Middle of nowhere is off the list now N2O
We would live near to our rental. We would move east to Cornwall. We have run rental properties in the U.K., Blackpool, had not so savoury tenants at one time and was also self employed for 15+ years.
I suppose really it’s not retiring it’s more going part time. I could also put in a few days a month surveillance work as we get jobs out east. I have worked Picton area and Brantford just last December
We would live near to our rental. We would move east to Cornwall. We have run rental properties in the U.K., Blackpool, had not so savoury tenants at one time and was also self employed for 15+ years.
I suppose really it’s not retiring it’s more going part time. I could also put in a few days a month surveillance work as we get jobs out east. I have worked Picton area and Brantford just last December
#65
Re: Sort of retirement plan
My stepdaughter just got referred for a bone scan today. Previous X-ray didn't pick up a break in her wrist and it's still a problem. It'll be interesting how long that is.
...NB is broke so anything that they try to do will be limited by this.
That proposal to charge seniors with more than $100k tucked away a bit more for care (while those with nothing would pay less) was a start but the Seniors Coalition knocked that on the head. Bloody overly pampered seniors.
They should start by rounding up all the rural populace and herd them into the towns and Cities. This would save the province a fortune.
I have had my house on the market for 11 months and I am priced at the advice of the (2nd realtor) $10k below what its worth to get it sold asap.
I have had 2 BS offers $20k below asking In real terms I will end up selling it for less than what I paid for it before spending a cent on renovations.
I have had 2 BS offers $20k below asking In real terms I will end up selling it for less than what I paid for it before spending a cent on renovations.
Are you throwing in your fancy coffee machine?
Are you satisfied with your realtors? (Phil Albert did well for me, although I sold the duplex at a loss price-wise. Fortunately the rental income more than made that up)
I am dying to get out of here but I am being held captive and fisted by the joke of a property market. I am close to burning it down for the insurance money
#66
limey party pooper
Joined: Jul 2012
Posts: 9,982
Re: Sort of retirement plan
There's something about Fridays here. My doc used to not 'do' Fridays and their answering machine was similar.
My stepdaughter just got referred for a bone scan today. Previous X-ray didn't pick up a break in her wrist and it's still a problem. It'll be interesting how long that is.
.
My stepdaughter just got referred for a bone scan today. Previous X-ray didn't pick up a break in her wrist and it's still a problem. It'll be interesting how long that is.
.
#67
Re: Sort of retirement plan
Middle of nowhere is off the list now N2O
We would live near to our rental. We would move east to Cornwall. We have run rental properties in the U.K., Blackpool, had not so savoury tenants at one time and was also self employed for 15+ years.
I suppose really it’s not retiring it’s more going part time. I could also put in a few days a month surveillance work as we get jobs out east. I have worked Picton area and Brantford just last December
We would live near to our rental. We would move east to Cornwall. We have run rental properties in the U.K., Blackpool, had not so savoury tenants at one time and was also self employed for 15+ years.
I suppose really it’s not retiring it’s more going part time. I could also put in a few days a month surveillance work as we get jobs out east. I have worked Picton area and Brantford just last December
1. experience as a slumlord is a +1
other ...
2. Picton could be a good choice if you were to do either B&B or AirBnb
3. what about a look at Kingston or Trenton?
#69
limey party pooper
Joined: Jul 2012
Posts: 9,982
Re: Sort of retirement plan
Trenton is a dump and Queens students don't have the best rep. But I think those general areas for vacation rentals
#70
Re: Sort of retirement plan
I do quite a lot of work in Trenton. Always stay over I even used a dentist there on an emergency last year. I could live there I like the small town vibe there.
#71
Re: Sort of retirement plan
Ajax Ontario 109,000 peeps
Cornwall Ontario ~60,000
Trenton Ontario 22,000
Blackpool UK 142,000
Life is too short to worry about the small stuff
Home is where you are & what you make of it- if you don't like it for whatever reason, then move ... emigrate
#72
limey party pooper
Joined: Jul 2012
Posts: 9,982
Re: Sort of retirement plan
Really? It has that unloved military town feel. Now Brighton next door is very nice and has a good small town vibe. You can still get houses/cottages at reasonable prices around there too. It's a good area but Trenton itself? Not for me. The hospital is ok though!
#73
Re: Sort of retirement plan
How many of you BE-ers in your 50s/60s do not plan on staying in Canada for the retirement years?