Try before you buy

JILL WEEKS Jill is a retirement speaker and the author of 21 Ways To Retire and co-author of Where To Retire In Australia and Retire Bizzi.

Abig move can be financially and emotionally costly. It’s not just the cost of the removalist, but there are also other costs such as legal fees, stamp duty and the buying of various household appliances.

Moving away from a city where the property value has escalated in a suburb close to the CBD is likely to mean that Michele is very unlikely to return to the same suburb should she change her mind in the future.

People who try to move back to the place they once lived are known as “half backs”, as they can often usually only afford to move “halfway back”.

Before doing a dream change, do your research and consult financial professionals.

It would also be prudent for Michele to do some research about her preferred areas.

Is it possible to “try before she buys”? Is house swapping, housesitting or renting an option? Living in an area before buying allows you to experience the cost of living, the different seasons, find out about the locals, and see whether you are compatible with people and the area. Experiencing the weather in the best and worst times of the year should be a must before moving.

Looking at the demographics is also a good idea. Is the area, for example, a magnet for families, retirees or singles and what is the median age? Is it a diverse area? Check out the online ABS community profiles for an overview.

Ask a real estate agent whether there are a lot of holiday homes, or are there mostly

permanent residents? Some people like the company of neighbours rather than people who are transient and don’t necessarily interact. Also, is it easy or difficult to buy or sell in the areas of interest to Michele?

Visiting the local chamber of commerce or similar organisation would also be worthwhile. How does it support local businesses? Is it active in holding networking events or seminars? Such groups may also be able to assist with communications information; is there good, consistent mobile phone and internet reception? What are the alternative transport options, such as a nearby airport?

If the areas that are tempting Michele are favourites with tourists, it is a good idea to ask about the cost of living. Do prices rise in the peak tourist season? Also, what is the crime rate like in those times?

The need for medical services may not be crucial at present but, looking ahead, what are the options for medical treatment in the area or nearby? Do the areas have problems with attracting and retaining medicos? Do you have a choice of specialists? One resident of a favoured lifestyle area reported that the local saying was, “If in pain, jump on a plane”!

Subscribing to the local newspaper for at least 18 months before moving allows people to see what types of recreation and culture are available and the kinds of issues that are important in the local area.

(Also see page 62 for more tips from Jill Weeks on the best places to retire.)