Re: Sort of retirement plan
 

Ahh yeh I see now

Re: Sort of retirement plan
 

Ah, well in that case...

If you can deal with the repairs/maintenance aspect yourself or, at least, know what things are called and what's to be done, then why not.

A house has the advantage of longer term tenants and maybe better tenants too. :unsure: But maybe more vacancy periods if smaller market?

An apartment building has the advantage of one site but possible friction with more tenants but maybe the odd vacancy isn't a problem.

Duplex or triplex is maybe a compromise, midway position.

If you might worry about such things, don't under estimate potential worry about how many properties might have roof damage when you're sitting at home hearing strong winds or how many basements might get flooded. :ohmy:

Re: Sort of retirement plan
 

What's the pull to stay in Canada in retirement?

Re: Sort of retirement plan
 

Post #11 in this thread gives you a clue.

Re: Sort of retirement plan
 

It’s where we live now, so we just stay no thoughts of living in the U.K.

Woodstock NB was on our list as it is 10 mins from USA cheap gas and other stuff cheaper cross boarder, and property is for nowt. It’s on a river and has great motorcycle routes all around.

It’s not a certain for us to do just an option we are contemplating :p

We plan to do a trip there this summer see if we like it still (visited last year and would have stayed) , talk to realtors and see our cousin for a few days

Re: Sort of retirement plan
 

Dear God. If that's retirement planning, I think he better plan on working to pay for all that gas.

Re: Sort of retirement plan
 

HA ha like I said, “sort of” retirement plan not 100% retired I need something to keep us busy ;)

Re: Sort of retirement plan
 

Sounds like you are halfway there with the planning!

Just remember the crap weather in winter too though.. and the heating bills.. (and check out the flood areas before you buy!) :)

Re: Sort of retirement plan
 

PEI is also an option, plan B maybe, buy several summer rentals ?

Re: Sort of retirement plan
 

You would certainly get a lot of money for summer rentals, I know when I was looking for September last year I was horrified at the prices, even that late in the season. I paid $950 for the week, for a 3 bedroom cottage on the water (which was discounted, she took pity on us) in northern Bruce Peninsula. Had it been a week earlier, it would have been $1700 - and that was one of the cheap ones! The one I really wanted to rent was $1,400 out of season - $2,300 in season. If I had sufficient money, I'd certainly be looking into buying a rental place.

I suppose the downside would be having to maintain the property and to clean them - though there are agencies who will 'book it out' for you and make the renter pay a penalty if they don't leave it clean and tidy. The requirements for proof of who we were (even down to the make, colour and number plate of the vehicle, d.o.b. and contact details for everyone staying) was quite a shock, but I can understand why. A renter also has to pay insurance for the week and pay in advance of the booking, so at least you are guaranteed that you will actually get paid.

Certainly something to consider anyway.

:)

Re: Sort of retirement plan
 

Something to consider if you are coming to No Funswick in your old age :p is that the health care system here is very poor. I had to wait 5 weeks for a Doctors appointment just to get a referral to an orthopedic surgeon. Then six months to get a 10 min consultation. Then another six months to get an MRI. Over a year and I am in pain every day. Surgery waiting times here are 18 -24 months :thumbdown: I read a study a while back that it ranks as the worst system in Canada by most measures. You are unlikely to be able to get a GP for the first few years here. The cost of nursing/care homes here is substantially higher than ON as the caps are much higher. Prescription drugs here are not free to over 65s which I believe they are in ON

Something to consider about property here. Its the opposite of Southern ON. In real terms here your property will likely lose value. Even over 20 years you would be lucky to break even. I would factor this into your decision. Perhaps Quinte region or peripheral cottage country would be a better bet financially?

Re: Sort of retirement plan
 

Might it be possible to keep your present home and just rent a place here for a couple of months in winter, so that you don't plunge in to very small, rural, NB without having experienced the winter for few weeks?

It can be pretty, and the people are generally very nice and friendly, and I can see that if one has a relative it would be a pull, but the winters can be more than a little difficult - there are all sort of practical things that you just can't do when the ground is frozen from November until May that can prove frustrating.

Re: Sort of retirement plan
 

For us, I can see that retirement will involve a city-centre apartment, not a big house in the country.

No garden to take care of, amenities on the doorstep, good public transport.

Question is, which city?

Re: Sort of retirement plan
 

That’s what we have done...although more through circumstances than choice. I quite enjoy living in the city...although I would like a larger condo. Hubby on the other hand is struggling. He’s a DIY guy and misses pottering around in the garage and garden. Living in a condo that’s much, much smaller than the size of the house takes some getting used to.

Re: Sort of retirement plan
 

I'd still look at Ontario and a holiday let. One house at 350k another at 250k to rent out could bring in $200 a day. A run down hunting cabin is also an option to buy and let.