Anyone been back to Australia for the forced 2 year exile to move pension to Thailand?

[Olmate]

9 minutes ago, georgegeorgia said:

Go back at 67 , stay for 2 years 

 

Rent in a caravan park close to Centrelink

What's the rents in areas such as Alice Springs, Moree Wilcannia , Birdsville 

Wilcannia sounds ideal for you George.! 

[georgegeorgia]

If go back to Australia at 65 I won't be going to a City like Sydney

 

I may just head to any country town in Australia that's cheaper

 

What are all these country towns like ?

[Will27]

1 minute ago, georgegeorgia said:

If go back to Australia at 65 I won't be going to a City like Sydney

 

I may just head to any country town in Australia that's cheaper

 

What are all these country towns like ?

You live in Australia now.

You don't have to go back.......

[Olmate]

Go back get a job

[ozimoron]

1 hour ago, georgegeorgia said:

If go back to Australia at 65 I won't be going to a City like Sydney

 

I may just head to any country town in Australia that's cheaper

 

What are all these country towns like ?

 

Expensive. The food costs way more and rents aren't cheap either because of scarcity. Regional towns are full of people who can't afford the rent in the cities. I come from Darwin and the rents have always been higher than Sydney average.

[scorecard]

6 hours ago, georgegeorgia said:

I remember you said you were in a Sydney richer area ,the supermarket prices would be more expensive there than say the poorest areas of Mount Druitt 

 

I never said that, I'm not going to disclose where I was, but i'll guess the area would be described as middle class / tradie.

 

And yes there would probably be price differenced compared to low income areas in supermarkets etc.

 

But important to remember, for me, is the cost of rental, and the availability or rentals. I was lucky enough to get a comfortable well maintained 1 bed apartment in a War Veterans Lifecare village at a bit more than 50% discount compared to commercial rental rates. Plus the village had good / dedicated facilities for wheelchair users (me) and a professional onsite medical clinic plus inhouse professional catering at very reasonable prices.

 

Bearing all these points in mind, including the point about middle class area /lower income area (which didn't have a War vets housing facility) as I've described above I got a good deal and a very pleasant 2 years and peace of mind that I could survive financially. 

 

No further discussion on this from me.  

[scorecard]

On 12/28/2023 at 11:59 AM, Olmate said:

Wilcannia sounds ideal for you George.! 

Yep you could rent for the view of one of the giant mounds of empty wine flagons. But need good sun glasses to protect your eyes from the glare from the sun.  

[4MyEgo]

On 12/28/2023 at 3:22 PM, Will27 said:

Yep, I agree, 67 and the OAP is the way to go.

I'm still summing up whether to go back.

 

On the positive, I will be able to live rent free.

On the negative, due to my current income, I will probably only get about 50% of the pension.

 

So about $600 PF.

 

That's a tough call, suppose you have to weigh it all up, but the rent free situation would provide you with around 30,000 a month there, as for here when portability kicks in, is another story, maybe 20,000 baht a month say, still better than a kick in the teeth.

 

The above said, if you received $300 a week, you would want to make sure you could live on that for the 2 years. I think you should be right, and if you could, all you lost was 2 years of being here, so unless you have family here, it would be a personal choice and whether say 20,000 baht a month, so to speak would improve your quality of life here for the remaining years you would have left to kick here, now that could be anything from 2 to 22 depending on genetics and lifestyle.

[georgegeorgia]

1 hour ago, 4MyEgo said:

 

That's a tough call, suppose you have to weigh it all up, but the rent free situation would provide you with around 30,000 a month there, as for here when portability kicks in, is another story, maybe 20,000 baht a month say, still better than a kick in the teeth.

 

The above said, if you received $300 a week, you would want to make sure you could live on that for the 2 years. I think you should be right, and if you could, all you lost was 2 years of being here, so unless you have family here, it would be a personal choice and whether say 20,000 baht a month, so to speak would improve your quality of life here for the remaining years you would have left to kick here, now that could be anything from 2 to 22 depending on genetics and lifestyle.

Maybe a caravan park in Alice Springs should be cheap?

Hard to live in the OAP for 2 years

[Will27]

3 hours ago, 4MyEgo said:

 

That's a tough call, suppose you have to weigh it all up, but the rent free situation would provide you with around 30,000 a month there, as for here when portability kicks in, is another story, maybe 20,000 baht a month say, still better than a kick in the teeth.

 

The above said, if you received $300 a week, you would want to make sure you could live on that for the 2 years. I think you should be right, and if you could, all you lost was 2 years of being here, so unless you have family here, it would be a personal choice and whether say 20,000 baht a month, so to speak would improve your quality of life here for the remaining years you would have left to kick here, now that could be anything from 2 to 22 depending on genetics and lifestyle.

The $300 per week pension would be in top of my other income.

 

Like you said, just have to weigh up whether it's worth doing the 2 years

for an extra 28 000 Baht per month.

 

It's 6 years away so things can obviously change.

[scorecard]

1 hour ago, Will27 said:

The $300 per week pension would be in top of my other income.

 

Like you said, just have to weigh up whether it's worth doing the 2 years

for an extra 28 000 Baht per month.

 

It's 6 years away so things can obviously change.

 

All good points and very specific to your personal and your private situation.

 

I got some flack when I announced I was going to Oz for 2 years. Mostly from my sons Thai mother in law and son's Thai brother in law (a full on mid aged flamboyant loud lady boy who has opinions of many things, 99% of which he doesn't begin to understand). Their 'objection' was that I was abandoning my son, son's wife and kids for 2 years.

 

Son (and his wife) realized that we should think long-term, realizing that (as I had promised and reinforced) I would always give them regular support (until I die), especially financial support for their 3 kids for education.

 

Son's mother in law and brother in law didn't begin to understand this, in fact son's brother in law several times trotted out 'but he's a farang, all farang are rich with no limit... '.

 

Son and his wife quickly took the line 'it's not open for any further discussion' and always changed the subject. 

[KhunHeineken]

On 12/31/2023 at 12:51 PM, scorecard said:

 

All good points and very specific to your personal and your private situation.

 

I got some flack when I announced I was going to Oz for 2 years. Mostly from my sons Thai mother in law and son's Thai brother in law (a full on mid aged flamboyant loud lady boy who has opinions of many things, 99% of which he doesn't begin to understand). Their 'objection' was that I was abandoning my son, son's wife and kids for 2 years.

 

Son (and his wife) realized that we should think long-term, realizing that (as I had promised and reinforced) I would always give them regular support (until I die), especially financial support for their 3 kids for education.

 

Son's mother in law and brother in law didn't begin to understand this, in fact son's brother in law several times trotted out 'but he's a farang, all farang are rich with no limit... '.

 

Son and his wife quickly took the line 'it's not open for any further discussion' and always changed the subject. 

 

Have you worked out which pension you are on yet?  Is it the veteran's pension, or the aged pension?  Big difference between the two. 

[KhunHeineken]

On 12/31/2023 at 10:56 AM, Will27 said:

The $300 per week pension would be in top of my other income.

 

Like you said, just have to weigh up whether it's worth doing the 2 years

for an extra 28 000 Baht per month.

 

It's 6 years away so things can obviously change.

It would depend on an unknown quantity, that being, your life expectancy, as to the viability of doing the 2 years. 

 

Also, as you point out, a few years from now, they may, and most likely will, raise the retirement age, as all the boomer kids move closer to retirement age, and we are all living longer, and the government wants to lower the bill every fortnight.

[4MyEgo]

On 12/31/2023 at 8:26 PM, georgegeorgia said:

Maybe a caravan park in Alice Springs should be cheap?

Hard to live in the OAP for 2 years

 

Living in a caravan for 2 years has got to be hard for anyone, that said, I would want to live within a 30 minute drive of my daughters place and a couple of mates that I know, for when getting together.

 

My objective would be to enjoy the 2 years while there, e.g. train rides, site seeing, beach walks etc.

 

Buying a 2 bedroom unit would be perfect for me as the wife and kids would have somewhere to stay for March/April school holidays when they come over for the 2 year period, and me going back to Thailand in October when the kids have school holidays shouldn't be an issue with Services Australia as I believe they allow you a 2 week trip per year and if that is the case, I would only be away from the family for 5 months at a time, which I believe is doable.

 

While the unit will have strata levies to pay, plus council and water rates, the initial outlay, plus stamp duty and legal costs, should be recouped when I sell after the 2 year portability period is granted, that said, the outlay won't be generating me an income, but will save me about $40,000 renting for 2 years after taking away $12,000 for the above outgoings. It would be pointless making $40,000 a year on the money that I would outlay o the unit, as I usually make per year, because most would reduce the pension to nothing, suffice to say, they have you cornered every way you turn. 

[KhunHeineken]

On 12/31/2023 at 9:26 AM, georgegeorgia said:

Maybe a caravan park in Alice Springs should be cheap?

 

$3660 a month for a cabin in an Alice Springs caravan park. 

 

https://bookings12.rmscloud.com/Rates/Index/12368/1?A=03/01/2024&D=03/31/2024&Dn=20240103214303&Rt=3&Ad=2&Mp=0&M=0&Y=0&Z=0#!/rooms

 

Units in Alice Springs range from $230 a week upwards, with most being over $300 per week. . 

 

https://bookings12.rmscloud.com/Rates/Index/12368/1?A=03/01/2024&D=03/31/2024&Dn=20240103214303&Rt=3&Ad=2&Mp=0&M=0&Y=0&Z=0#!/rooms

[KhunHeineken]

5 hours ago, 4MyEgo said:

While the unit will have strata levies to pay, plus council and water rates, the initial outlay, plus stamp duty and legal costs, should be recouped when I sell after the 2 year portability period is granted,

That's if it has gained in value to a point it covers the mentioned costs, plus agents fees on the sale, and any repairs and maintenance within the 2 years. 

 

If you don't get any offers nearing your asking price when your 2 year are up, do you sell for less and take the loss, or have your money tied up in a vacant property, which still attracts taxes and fees, until the right offer comes along? 

[georgegeorgia]

25 minutes ago, KhunHeineken said:

That's if it has gained in value to a point it covers the mentioned costs, plus agents fees on the sale, and any repairs and maintenance within the 2 years. 

 

If you don't get any offers nearing your asking price when your 2 year are up, do you sell for less and take the loss, or have your money tied up in a vacant property, which still attracts taxes and fees, until the right offer comes along? 

Your right

Unfortunately in Sydney city apartments are going down in price !

[KhunHeineken]

On 1/3/2024 at 12:56 PM, georgegeorgia said:

Your right

Unfortunately in Sydney city apartments are going down in price !

A market correction was always going to happen. 

 

Sadly, what should be all about homes for Aussie families, successive governments have turned housing in Australia into a lucrative investment scheme, which sees your average Aussie a slave to a bank for 30 years, and also a declining birth rate. 

 

Madness, for a country with so much land.

 

Bill Shorten went to an election with a policy of rolling back negative gearing, and we all know how that went.  Just too many people on the investment property gravy train, to the point that's it's a drag on the government's bottom line.  

 

Thus, the Australian property market Ponzi scheme continues.   

[Nemises]

On 1/3/2024 at 5:04 PM, 4MyEgo said:

My objective would be to enjoy the 2 years while there, e.g. train rides, site seeing, beach walks etc.

Don’t forget to take the Mrs and kids to the SCG to watch the Test cricket! 🏏 

 

Only $214 each day for the cheapest (unsheltered) family pass, $21.50 for a burger & chips and $13.60 for a beer 🤗

 

 

 

[georgegeorgia]

Even RSL & Leagues clubs are not cheap for lunch anymore 

[4MyEgo]

On 1/3/2024 at 11:28 PM, KhunHeineken said:

That's if it has gained in value to a point it covers the mentioned costs, plus agents fees on the sale, and any repairs and maintenance within the 2 years. 

 

If you don't get any offers nearing your asking price when your 2 year are up, do you sell for less and take the loss, or have your money tied up in a vacant property, which still attracts taxes and fees, until the right offer comes along? 

 

I am pretty sure the Sydney market where I would be looking to buy can increase 3.5% per year for 2 years, besides, repairs and maintenance would be minimal, if any as I would be buying something already renovated, or partly renovated, besides a hot water system, not much can go wrong with a unit.

 

Naturally you would put it on the market 3-6 months before you decide to return and settlement can occur around the time you are anticipating your departure with portability in play. I have never lost on a resale on property in Sydney, you just have to know where to buy, when to buy, and know which are the agents you buy from and the agents you sell with.

 

Worst case scenario, if it doesn't sell, I can borrow against it and use those funds to trade until it sells, that or lease it and pay tax on it, but leaving it empty would be a better proposition while using the borrowed (line of credit) funds to trade until it is sold.

[4MyEgo]

On 1/3/2024 at 11:56 PM, georgegeorgia said:

Unfortunately in Sydney city apartments are going down in price !

 

You have no idea what your talking about, not all properties (units) go down in value, the smaller the block, the better, close proximity rail for the City e.g. within a 15km radius is another plus.

[4MyEgo]

21 hours ago, KhunHeineken said:

Thus, the Australian property market Ponzi scheme continues.

 

Agree with you on that, the governments have nothing else to prop the country up with, so they create schemes to keep everyone in the property market, they of course receive the stamp duty on transfers, plus the capital gains tax on sales, not to mention foreign vendor taxes, on top of land taxes.

 

There will come a time, that there is a correction, however having been in the industry in all facets of it, I haven't seen that correction since entering it in 1987.

[4MyEgo]

13 hours ago, Nemises said:

Don’t forget to take the Mrs and kids to the SCG to watch the Test cricket! 🏏 

 

Only $214 each day for the cheapest (unsheltered) family pass, $21.50 for a burger & chips and $13.60 for a beer 🤗

 

Fortunately for me, we know how to enjoy things on the cheap with the wife also making cut lunches, why waste it when you don't have to.

[Olmate]

54 minutes ago, 4MyEgo said:

 

Fortunately for me, we know how to enjoy things on the cheap with the wife also making cut lunches, why waste it when you don't have to.

Cut your own bloody lunch!!  😂

[georgegeorgia]

1 hour ago, 4MyEgo said:

 

You have no idea what your talking about, not all properties (units) go down in value, the smaller the block, the better, close proximity rail for the City e.g. within a 15km radius is another plus.

Have you considered a Studio apartment?

Not that it will go up in value though 

[4MyEgo]

17 hours ago, Olmate said:

Cut your own bloody lunch!!  😂

 

I wouldn't need the wife then, suffice to say, she has a roll to play, as I do, I am the ATM, or as she puts it, broken ATM 

[4MyEgo]

16 hours ago, georgegeorgia said:

Have you considered a Studio apartment?

Not that it will go up in value though 

 

Everything (property) in Sydney goes up in value over time, that said, a studio wouldn't suit me as I would be bringing the wife and 2 kids over for 8 weeks each year, so the kids will require a room, a studio would be depressing, especially when coming from a very large house.

 

One also has to think about resale, e.g. more buyers looking for 2 bedders, than 1 bedders of studio's, that said, I also know that the majority of studio's are under 50 square metres and banks won't led to anything under that.

[Olmate]

3 minutes ago, 4MyEgo said:

 

I wouldn't need the wife then, suffice to say, she has a roll to play, as I do, I am the ATM, or as she puts it, broken ATM 

Yep, agree... there's a couple of jokes in that cutting your lunch theme tho! 

[KhunHeineken]

On 1/5/2024 at 10:18 AM, 4MyEgo said:

 

I am pretty sure the Sydney market where I would be looking to buy can increase 3.5% per year for 2 years, besides, repairs and maintenance would be minimal, if any as I would be buying something already renovated, or partly renovated, besides a hot water system, not much can go wrong with a unit.

 

Naturally you would put it on the market 3-6 months before you decide to return and settlement can occur around the time you are anticipating your departure with portability in play. I have never lost on a resale on property in Sydney, you just have to know where to buy, when to buy, and know which are the agents you buy from and the agents you sell with.

 

Worst case scenario, if it doesn't sell, I can borrow against it and use those funds to trade until it sells, that or lease it and pay tax on it, but leaving it empty would be a better proposition while using the borrowed (line of credit) funds to trade until it is sold.

It's well known that property is a long term investment.  Historically, property has increased in value, no denying this, however, property is also subject to boom / bust cycles.  Also, property can be effected government decisions, such as rezoning, raising taxes etc.  Then, you have the influence of banks with interest rates and their home loan policies.  There's more to property than just supply and demand market forces. 

 

I agree whatever property you buy will increase in value over the longer term, but in my opinion, flipping it after only 2 years poses a risk to return on investment, and if it can't be sold, there's rates, strata, upkeep etc that has to be paid for whilst it sits on the market.  The whole time your money could be earning at least 5% in a simple term deposit. 

 

If we are talking Sydney, yes, rents re high, but what you will lose in stamp duty, legals, and agents fees may mean it's easier and cheaper to rent for the 2 years.  

 

Just to show it does happen.

 

https://www.smh.com.au/property/news/house-values-falling-nearly-1000-a-day-as-rba-warns-of-uncertainty-ahead-20220831-p5be8w.html