Anybody Mouseholing in retirement?

Bcfb123456

Strange term I know... It's one Ive come across mostly in British websites etc...its basicly where you downsize your property at home to an apt and then buy abroad and winter there.
We are in the midst of preparing for a variation of this and was wondering if anyone here keeps on a property to return in the summer but travel the rest of the year in retirement?
Our situations we have 2 rental apartments and our main house. Upon retirement the himself will have an educators pension and I will have a decent lump sum and OK monthly from paye job.
We plan to move out of our house and rent it out while at the same time taking up residence in one of the apartments as a base of operations.
We intend to pick 1 country to visit for 6/9 months of the year and return to Ireland for 3/6 of the summer period.
First destination is Malaysia, followed by Ecuador and after that undecided.
Given income of 2 decent pensions, rental property and house rental against outgoings in a country with a far lower cost of living we feel from an economic point of view we are well covered before the state pension kicks in.
...youngest just leaving college in may
...mortgage free
..both in good health
...have disposed of one of the cars

Anybody have any warnings / advice etc
I'd particularly be Interested in anyone who does something similar in terms of picking a different country for a prolonged visit each year.

Thanks for reading!

Baron Kurtz

Don't forget about the colostomy bags.

corner of hells

An uncle of mine bought two apartments years ago abroad keeping his family home here.

He rented both out as holiday apartments for years , when he retired he sold one of the apartments and traveled quite a bit using the remaining apartment as his base.

He's getting on in years and is widowed now and returns to Ireland three or four times a year to complain about the weather, drink and argue a bit .

DivingDuck

Insurance is a big concern: travel, health, and home.

If your home (the apartment) is unoccupied for a period of X weeks (may vary depending on your policy), you may not be covered in the event of burglary/damage/etc.

Private health insurance may also not be valid if you are overseas for long periods, and travel insurance can be difficult to get (especially for travel outside of Europe) as you get older.

Do your research and draw your own conclusions, but it's a very appealing idea for the likes of me who absolutely effing despises the cold! Good luck with your decision.

Bcfb123456

Baron Kurtz wrote: »

Don't forget about the colostomy bags.

55 so a while to go yet!!

DivingDuck

Something else to consider are the CTG implications for any heirs of losing PPR status on your house (presumably your highest value property asset). I don't know the full story, so you'll have to do your own research, again— maybe it's beneficial? It also might not be, though.

This might not even be a strong factor in your decision making, but if it is, it would be good to look into it.

JamBur

humblebrag disguised as a request for advice.................

Professor Moriarty

JamBur wrote: »

humblebrag disguised as a request for advice.................

How can they be bragging? Do you think Bcfb123456 is their real name?

The Backwards Man

Just give me a REO Speedwagon CD and something to play it on and I'll lie down anywhere.

CFlat

Professor Moriarty wrote: »

How can they be bragging? Do you think Bcfb123456 is their real name?

Tim nice-but-dim.

JamBur

Son of Bcfb1234567, big hitter on the motoring forum. Thats where all the real men are.

gozunda

OP - dont know much about the subject in hand but may I suggest you up sticks and take the query to a less fractious part of Boards perhaps?

Watch out for for the hilarious flamers in AH - you can request a mod to move if need be afaik...

dd972

Smug baby boomers, You do realise everyone born after 1985 will want to kill you OP? :pac:

whisky_galore

Where's my decent pension or property to downsize?

Oh right, I won't have either.

Carry

Go for it OP. You seem to be in a secure financial situation and with 55 you are young enough to enjoy traveling.
If you stay in your big house, fretting about insurance, health, inheritance for the kids and other whataboutery you can as well buy your burial plot and spend your time planning the funeral. How fun is that?
It's your life and it will be over soon enough, you don't want to grow old and think about what could have been if only you've had the courage to do it.

Besides, you can always go back to your old life in dear old Ireland if things don't work out abroad.


My ex-mother-in-law did it in her sixties, sold the house, bought a small apartment and did all the stuff she always wanted to do, including traveling, never regretted it as far as I know.

seamus

Long way away for me, but "probably" is the answer. Not sure about the hassle of maintaining a second property abroad, I'd be more inclined to find a decent resort and just go there every year.

My in-laws bought a house approaching 60, gutted it and built something even bigger than they had before. Not sure I'd want to go that way. The amount of effort and stress they went through and the amount of maintenance the property still needs is insane. It's nice of course for them to have such a large place to entertain and have the grandkids over, but a largish 3-bed bungalow would be just as good and require less maintenance.

LirW

My folks, even though just hitting their 50s, closed their company, sold the family home (they bought a few months before the financial crash, dirt cheap because prices didn't skyrocket like crazy back home) and got crazy good equity. Packed the old company van, bought a pretty sweet 2 bedroom house in Fuerteventura in the backar5e of nowhere, live there mortgage free now, no regrets, never looking back.
They live the artist hippie life now.
The chances that they'll ever return are very very slim. Have to say though they both speak Spanish well enough and blend in pretty well in a village of mainly Spaniards.

silverharp

I wouldn't be interested in living around the Med , but yeah have thought about selling up when kids are through college, stay in the same area but buy 2 or 3 apartments live in one and rent out the other 1 or 2. It can be exhausting owning a house as you get older, garden maintenance and getting sh11t repaired.

Bcfb123456

JamBur wrote: »

humblebrag disguised as a request for advice.................

To think you get one life and choose to spend any of it being petty and small minded.....

As my old mam used to say, " if you've nothing useful to contribute say nothing at all "...

Bcfb123456

DivingDuck wrote: »

Something else to consider are the CTG implications for any heirs of losing PPR status on your house (presumably your highest value property asset). I don't know the full story, so you'll have to do your own research, again— maybe it's beneficial? It also might not be, though.

This might not even be a strong factor in your decision making, but if it is, it would be good to look into it.

Excellent point, I'll look into that. Thanks

Bcfb123456

seamus wrote: »

Long way away for me, but "probably" is the answer. Not sure about the hassle of maintaining a second property abroad, I'd be more inclined to find a decent resort and just go there every year.

My in-laws bought a house approaching 60, gutted it and built something even bigger than they had before. Not sure I'd want to go that way. The amount of effort and stress they went through and the amount of maintenance the property still needs is insane. It's nice of course for them to have such a large place to entertain and have the grandkids over, but a largish 3-bed bungalow would be just as good and require less maintenance.

Agreed, our idea would be to pick a different location every year and do a long term rent....no, buying property is something I'm done with..but for the grace of God Id be in a worse position with the ones I have that I'm in and when I look back now it was a lottery....

riffmongous

Why Ecuador and Malaysia out of interest? Won't the flights and expenses cost you a good bit each year? Do you speak any of the languages?

Bcfb123456

dd972 wrote: »

Smug baby boomers, You do realise everyone born after 1985 will want to kill you OP? :pac:

Yes understandable...but in fairness should that preclude me from asking advice?? And to get proper advice my circumstances need to be laid out. I don't apologise for that. Cheers!

Bcfb123456

Bcfb123456 wrote: »

Yes understandable...but in fairness should that preclude me from asking advice?? And to get proper advice my circumstances need to be laid out. I don't apologise for that. Cheers!

Infairness, if you wanted proper advice, you’re barking up the wrong tree here

Vojera

Check out the visa restrictions outside the EU. Many countries will restrict you to a 90 day maximum.

Fr_Dougal

Bcfb123456 wrote: »

Strange term I know... It's one Ive come across mostly in British websites etc...its basicly where you downsize your property at home to an apt and then buy abroad and winter there.
We are in the midst of preparing for a variation of this and was wondering if anyone here keeps on a property to return in the summer but travel the rest of the year in retirement?
Our situations we have 2 rental apartments and our main house. Upon retirement the himself will have an educators pension and I will have a decent lump sum and OK monthly from paye job.
We plan to move out of our house and rent it out while at the same time taking up residence in one of the apartments as a base of operations.
We intend to pick 1 country to visit for 6/9 months of the year and return to Ireland for 3/6 of the summer period.
First destination is Malaysia, followed by Ecuador and after that undecided.
Given income of 2 decent pensions, rental property and house rental against outgoings in a country with a far lower cost of living we feel from an economic point of view we are well covered before the state pension kicks in.
...youngest just leaving college in may
...mortgage free
..both in good health
...have disposed of one of the cars

Anybody have any warnings / advice etc
I'd particularly be Interested in anyone who does something similar in terms of picking a different country for a prolonged visit each year.

Thanks for reading!

Bcfb123456

riffmongous wrote: »

Why Ecuador and Malaysia out of interest? Won't the flights and expenses cost you a good bit each year? Do you speak any of the languages?

Both good healthcare, good infrastructure, English widely spoken....both high in retirement index studies..climate an attraction. Also we are both beach bums and love to dive and both locations have an abundance of small beach towns that we think would suit....we are still in the planning stage but those locations along with certain parts of Thailand, Mexico and a couple of central American locators as well....also Lisbon.

Bcfb123456

[Deleted User] wrote: »

Infairness, if you wanted proper advice, you’re barking up the wrong tree here

Newbie to boards...so possibly so...

JamBur

Bcfb123456 wrote: »

To think you get one life and choose to spend any of it being petty and small minded.....

As my old mam used to say, " if you've nothing useful to contribute say nothing at all "...

Welcome to after hours

Bcfb123456

Vojera wrote: »

Check out the visa restrictions outside the EU. Many countries will restrict you to a 90 day maximum.

Yes a few will require visa runs...ive lived in Asia in the past and well used to doing them. A lot of the countries we are looking at provide retirement visas providing you can prove a certain level of annual income.

Witchie

Bcfb123456 wrote: »

Strange term I know... It's one Ive come across mostly in British websites etc...its basicly where you downsize your property at home to an apt and then buy abroad and winter there.
We are in the midst of preparing for a variation of this and was wondering if anyone here keeps on a property to return in the summer but travel the rest of the year in retirement?
Our situations we have 2 rental apartments and our main house. Upon retirement the himself will have an educators pension and I will have a decent lump sum and OK monthly from paye job.
We plan to move out of our house and rent it out while at the same time taking up residence in one of the apartments as a base of operations.
We intend to pick 1 country to visit for 6/9 months of the year and return to Ireland for 3/6 of the summer period.
First destination is Malaysia, followed by Ecuador and after that undecided.
Given income of 2 decent pensions, rental property and house rental against outgoings in a country with a far lower cost of living we feel from an economic point of view we are well covered before the state pension kicks in.
...youngest just leaving college in may
...mortgage free
..both in good health
...have disposed of one of the cars

Anybody have any warnings / advice etc
I'd particularly be Interested in anyone who does something similar in terms of picking a different country for a prolonged visit each year.

Thanks for reading!

I have done this without retiring. Well am in the process of selling my house and trying to find an apartment to buy in my town so that I have a small bolt hole if all else fails. My youngest is in 2nd year at university, I am in my mid 40s and work online so have been able to go and work while on the road.

Do it. I am home less than a week so far for the festivities and missing my life in Malaysia even though it is great to see family and friends.

riffmongous wrote: »

Why Ecuador and Malaysia out of interest? Won't the flights and expenses cost you a good bit each year? Do you speak any of the languages?

I have been living in Malaysia since July and have probably only encountered about 3 people who didn't understand what I was saying and one was a deaf uber driver. Living in Malaysia (particularly Kuala Lumpur) is as easy as living in Ireland. Actually, easier in some ways. The standard of living is fantastic if you have a few euro. You can eat a fantastic meal in a mid-range place for about €5. Not that I eat there often but in Nandos for example, if I have a veggie burger, peri peri fries an corn on the cob, a bottomless soda - costs me less than €6 while it is about €16 here.

Bcfb123456 wrote: »

Yes a few will require visa runs...ive lived in Asia in the past and well used to doing them. A lot of the countries we are looking at provide retirement visas providing you can prove a certain level of annual income.

If you need help on the MM2H (Malaysia my 2nd home) programme, aimed at retirees, let me know as a company I do some work for is the main agent for the government on this visa programme. Alternatively, you can do the visa runs. Its a great way to make you go explore more of amazing Asia!