Originally Posted by
PN
This is a special case. He just want to retire there w/o the hassle of moving & getting himself familarize in the new place.
I've a few friend with many years investing in property. He shared with me some of his advises. The first one is actually very obvious but easily neglected. That is don't fall in love with your home. If you're too deeply in love with your house, you'll miss a good opportunity. The affection you have for the house can make you go blinded even when presented with a good offer in front of you. You get stuck there for many years and the same offer may never come again.
Don't stay in the same place for more than 5 years. There is a link between this and the first advise. If you buy a property at a good bargain, the chances is the value will rise in 4-5 yrs time. Sell at a profit & wait for the opportunity to invest in another property. Never never think that this is the best house you'll ever have. There's always an equivalent or better one out there.
Then where should you stay after selling the house? You need a backup property. Live in one & rent out the other one. When you sell one, move in to the property temperally. At some point you'll also need to sell this property.
It's something which is not easily executeable. The hassle of moving house every few years is not what everyone will enjoy. But my wife & I really like this idea. The exitment of waiting for key collection, revonation, buy new furnitures, etc make you busy & life suddenly becomes more interesting again.