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Wednesday, July 23, 2014

I’ll Wait…For Now

Posted by Dave on January 29, 2013

This is a guest post by Dave, who is also looking to retire no later than 45, but unlike Tim has no kids and doesn’t want any. Dave is from Ontario and is working towards his CGA certification.

I have a guilty pleasure.  About once every couple of months I ogle land on the internet.  Compared to most things available for viewing, this is a fairly tame past time.  The land I look at is probably not in an area of the province that my wife is terribly interested in, but there is one thing that is super enticing…..price.  There are plots of land within a 2-hour drive of Toronto (not overly important to me, but from a geographic standpoint a good measure) that can be purchased for less than a brand-new moderately priced vehicle (around $30,000).

I recently read a Survivalist blog where the individual’s strategy in today’s moderately low inflation was to purchase durable goods, such as appliances while money is cheap.  I have a feeling that land will also go up in price as inflation increases, giving me even more incentive to “get in” while it’s cheap.

This is the type of land that I would build my tiny house on, to live out my retirement in moderate isolation.  It is also the kind of land that is almost an impulse-buy to regret down the road.  When I look at my entire retirement plan, right now I’m only nearing one-third completion – I still have a long ways to go.  So, I’ll wait (and ogle).

Although the area where I continue to look is desirable to me, there will always be someplace else for me and my wife to go (if she can still stand me by the time we retire *grin*).  There are areas in the province that I could move to that would cost me half as much to get just as nice of a house to live in.

This is the reason that I’ll wait, and why I usually wait for all major purchases.  There are always going to be better deals.  I would really like a 60 or 70 inch television, mostly so that I would have an enormous screen to play video games on.  I (along with most people I’m sure) are under constant barrage of sales promising massive savings on consumer products.  I try to put off these kinds of purchase decisions by looking at these “deals” only as deals if I really need them.

If something is actually broken, then I’ll start to comparison shop around (seriously looking into buying something) – most of the time I’m one of the most boring window shoppers out there.

Are you constantly looking for upgrades to your current stuff?  Do you have a dream house or dream location in mind for retirement?

Comments

11 Responses to “I’ll Wait…For Now”
  1. lol @ogling land. I occassinally browse around kijiji looking at land up north as well. It’s like window shopping; lots of fun and doesn’t cost anything.

  2. Kestra says:

    For me it’s RVs. Though sometimes land as well. Our main retirement plan is to not be in Canada during the winter. Can’t afford it yet but I do look at RVs on kijiji too much and want to go to the RV show, just to feel like I’m progressing to the dream.

  3. GCAI says:

    I enjoy looking around too but follow the “only if needed” school rather than wants. As you stated there are many “would be really nice to haves”.

    @Kestra – RVing yes! could I suggest renting (for 2+ weeks) one first to find out if the lifestyle is for you? One of the surprises I found was that is not as inexpensive as one would think (in fact more than fixed place living) and it is a very different daily living experience.

    @Dave – I don’t want to dampen your retirement plans living in a rural setting however I’d like to share my parents experience. They retired at age 60 and the first 8-9 years were very enjoyable on their farm. Then that insidious AGE thing crept up with more medical attention being required – very stressful in itself.

    The added stress of having to commute to the city for much of the medical stuff was not helping. And then finally due to declining health a move back to an urban area – again more stress at a fragile time.

    Personally I have decided on an urban retirement lifestyle based primarily on my parents experience. Where I live all major services are in walking distance (very important IMO) and of course all the urban services are easily at hand. When I need to get a hit of “rural” I either visit friends or rent an appropriate place.

  4. Sarah says:

    I’m curious as to which websites you are using to look for land. 2 hours outside TO is what my boyfriend and I would be looking into for building our home.

  5. Sheryl says:

    Watching my parents life, I agree 100% with GCAI.

    My parents have had a house in the GTA since 1976. In the 80′s, they bought a year round cottage that they lived in after they retired in their early 60′s. They rented their GTA house to me during that time. In 2003, they decided that as much as they loved their 9 acres in the country, it was too far away from doctors, hospitals etc, so they sold the cottage and moved back to the city.

    I am planning on enjoying the rural life, at least for a while after I retire, but am also conscious that I will probably return to the city as my old age health dictates.

    BTW – staying long term in motels can be quite reasonable in the winter months in the southern US, many times cheaper than rent in a Canadian big city. If you deduct the money my parents didn’t have to pay in heating bills (hot water, electric heat, wood for the fireplace), it only cost them about $300-$400 per month more in living expenses per month to do the snow bird thing.

  6. Elizabeth says:

    I am oh so guilty of ogling land/property on mls. I am looking forward to the day when I can afford a little house on a huge plot of land. Far enough away from the city that I can pretend I am a hermit but close enough that my kids can come visit : )

  7. Dave says:

    @ Sarah – I usually just use MLS.

    @GCAI and Sheryl – If I’m able to retire at 45, I’m hoping I can have a good 15 to 20 years in seclusion before finding it necessary to live closer to towns.

    I grew up in a very rural area, and my parents seemed to survive alright – I’d move closer if I could no longer drive, but maybe Google will come through with the self-driving car soon so I don’t have to worry about that at all : )

  8. Jon_snow says:

    I’ve got the land (10 acres on a Gulf Island), next step is to ER. Lookin’ like a couple of years from now at 42 years old. So close I can almost taste it…

  9. Always,window shopping.
    I’m always on the look out for something better because you never know when you will find something that is right up your alley. We tend to wait until we have cash to buy things but only things we need. We would love to find a nice piece of land, sell our city house or rent it out and build our own home>>> dream big they say! Cheers

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