Was It A Huge Mistake Selling Our House - Retirement

[@JBoy340a]

We are planning to stay in our house for a while. It is bigger than we need, but we love the neighborhood and all our friends. Also, we renovated every space in the house over the last 12 years. And that extra space comes in handy when my wife is mad at me.😉

[@ThisIsOurRetirement]

😂😂🌺

[@oldbloke204]

@@Steve-gx9ot Wow.

[@brendalabranche365]

@@Steve-gx9otI realize we haven’t met, but may I divorce you..

[@muhammadmudassir7002]

If there is no financial stress better to live in your dream house In my opinion......

[@oldbloke204]

@@muhammadmudassir7002 That's the way we look at it. We live in a very popular tourist town in a nice place with nice gardens. Lots of wildlife, good weather most of the time etc etc. It's also appreciating tax free at a quite scary rate as well.

[@sheilarae354]

It was right decision for you two, but we love our house and home We did the costs and it is cheaper for us living at home than pay higher rent How ever you retire, the important thing is that you are happy and at peace

[@reebeeable]

This is where the USA and Canada differ so much. Your decision makes sense because you are in Canada. The rent increase caps in Canada are amazing. In the USA I worry that the giant unpredictable rent increases could force me to move or bankrupt me. This is a very big deal. Rents here are expensive and it’s cheaper for me to stay in my modest house (1100 sq feet). Unless the unpredictable rent situation is solved in the USA seniors will stay put in houses where costs are more predictable. At some point I’ll move for the life style reasons you pointed out but it won’t be a financial advantage. Thank you for your insights. Your channel inspires me.

[@JBoy340a]

Places in the US have rent control. NYC is the one that immediately comes to mind.

[@mikeberg5003]

@@JBoy340a Try that in California. There is zero rent control for any home, condo etc if it is privately owned. I personally know people who were paying $1800 for an apt and are now paying $2200 2 years later.

[@JBoy340a]

There are rent control/stabilization in CA, but that is defined city by city with different rate increase allowed and building by building.

[@KevinNordstrom]

Our house is paid in full. No mortgage. Cheap property taxes ( $900/year) We plan to snowbird in Florida 5 months every winter. Thought of selling and go rent in Florida but yeah, rent continues to go out of control. I'll pay a landscape crew to do all the work for me at this point of my life.

[@fremontpathfinder8463]

Exactly

[@Jt-hl4yv]

we sold our townhome in BC at the peak and moved to Saskatchewan and was able to retire 4 years earlier. We did buy a home here, but we think of it as a place holder to enjoy nicer accommodations than what we had and eventually sell and move to a smaller home or townhome or condo or even renting. We are so glad we made the move. I have been following your channel for well before we sold our place in BC and your insights and experience has taken the fear out of when is the right time to retire. Too easy to put it off with the fear of the unknown....mainly will we have enough money for our retirement. Thanks again!

[@judithvilla6026]

Nice! Looking to do the same!

[@karyn1147]

Where in Sask ? I'm in the BC Lower Mainland and always look at Sask. listings. Can't believe the price difference 😮😅!

[@Linda-mv8oz]

It does make sense for you. The money from your house is invested and you use it for retirement. The apartment is rent controlled. You are fortunate that is available. We live in Dallas, TX and there are no rent controlled apartments. But we do have a cap on property tax increases for senior citizens. We radically downsized our home and property. Basically no maintenance on our yard which is tiny. Our HOA only covers landscaping maintenance so that has never gone up in the 5 years we have lived here. I would say that the largest increase is in home insurance! That is skyrocketing.

[@paulhunter6652]

Hi Norm and Tina: Thanks for the wonderful journey. Looking around and getting on waiting lists for apartments. Looking forward to the freedom but apprehensive also as we have a beautiful location. Paul and Helen.

[@ThisIsOurRetirement]

Our pleasure! Paul we loved our Bungalow too while we lived there but words can’t describe this new found freedom it was time to move on to the new chapter in our lives , we have never looked back have an awesome weekend good luck Cheers ☕️🙂

[@martinesykes655]

We have done the same exercise and we will sell our family home and invest the money we make from it and rent. We have been sold this dream of home ownership (huge dream for everyone in Australia!) but we are looking at the future differently. For us we want to be nomadic through our active retirement years and then work out where to spend our slower active years. Without the shackles and expenses of a home to hold us back. Thank you for this video and inspiring us to look at life through a different lens.

[@bw5277]

We did the same thing....invested most of the money.

[@martinesykes655]

@@bw5277 can I ask how this is working for you? We are doing the future differently to our friends (who are supportive but think we are mad) but we want to have a life of experiences and adventures. We have been locked down to location and bricks and mortar our entire adult lives - we don’t want this in retirement. Are we crazy?

[@judi5818]

Thank you for the kind welcome as a new subscriber. It is wonderful that selling your home has worked out so well for you. Enjoy your travels! Thank you for the tips and information you share.

[@ThisIsOurRetirement]

Your very welcome Judi 🌺🙂

[@ThisIsOurRetirement]

Your very welcome sounds like we both looked at a bigger picture the same we wish you well with yours we love it 🌺☕️🙂

[@davidmuse4065]

You two are adorable- just paid off the house and Jeep- retiring in a few months here in Colorado! Thanks for your videos!

[@ThisIsOurRetirement]

That is awesome! 👍

[@TheAngela2C]

Agree, this a personal choice where to live and when to sell your house. But if we honestly talk about numbers, let me tell you: living in your own house is MUCH MORE beneficial in Alberta, than renting. take the last 5 years for example: If I would sell my beautiful and comfortable house and start renting tiny 2 bedroom appartment in my area I would easily lose tons of money (we talking about hundreds of thousands). Numbers: 5 year rent: 200 thousand, Increase of value of my house fro the same time :300.000. Maintenace, taxes and insurance spent: 50.000. Clear surplus 450.000. These are real numbers. Not mentioning living in a comfort of your own home. Of course , if house is all you have with no savings and you want to travel adn live comfortably: selling your house is the only choice.

[@johenderson3742]

What about a reverse equity mortgage?

[@theresarowe1656]

I think there’s a coming housing shift moving property from the boomer generation to younger generations. The increase in available homes will likely drop prices and reduce the current pressure on the housing market. Good idea to sell earlier in that shift.

[@ThisIsOurRetirement]

Just looking at demographics it tells you things must change.

[@John-tj8qj]

When we were young and broke we lived in an apartment (aka coffins in the sky). Can't imagine going back to that lifestyle from a 2800sqft detached house. We love the privacy, taking care of our house and garden and it is nowhere near 2/3 the cost for an apartment. We spend maybe 500/mo for taxes, maintenance, electric and gas. (no mortgage) A claustrophobic 2 bedrm apartment would be $4000/mo here. Oh and since we retired the house has increased by 1.4M while apartment rents have increased 600%. Your rent controlled situation does not apply to 95% of the population.

[@BobPenzien]

You lucked out with having rent control on your apartment. Otherwise, you might be feeling differently about renting now.

[@ThisIsOurRetirement]

Yes we were but we would still rent due to the freedom it gives you to travel and not worry about unexpected expenses and maintenance Cheers 🙂🍻

[@oldbloke204]

Yeah this is my thought as well. All good while Govts. are pumping markets but if that changes, and it's looking increasingly likely, what's the plan then.

[@BobPenzien]

@@ThisIsOurRetirement Respectfully, I probably would have sold the larger home and paid cash for a much smaller home. However, you made your choice to rent which has worked out well for you, so I can't fault your decision. As long as you're happy and able to do what you love, travel, then life is good!

[@dianaj3139]

Very nice video explaining reasons for selling out to invest and enjoy retirement! :) Sounds like Paradise

[@iany2448]

Home ownership certainly is not a pre-requisite for a happy retirement. I can certainly foresee that at some point after retirement I will need to sell my house to avoid going up/down stairs.

[@ThisIsOurRetirement]

Yes stairs can be hard as you get older we enjoy just being on one floor very much 🌺🙂

[@1ADP]

Luck you enjoy your retirement traveling,Tina is so cute lucky guy your are.

[@roqonu]

Basically, you chopped down a money tree. Every situation is different but comparing renting with owning is apples and oranges...way too many variables. I bought my home 10 years ago...zero down...$177k. Today it would sell for ~ $500k or rent for ~$3500. Today, as a renter, I could not afford my home. My housing costs average $500/mo...so my house dividend is ~$3000/mo. Additionally, I estimate it will appreciate $30k in the next 12 months. I paid off my mortgage in 2022. As I said...a money tree...from which I harvest almost $70,000/yr. But you do you. Myself, the most financially costly mistakes I ever made was selling my previous properties...cost me millions, literally. But I did ok regardless. You have some valid points but you sold a goldmine for pennies on the dollar.

[@Joeym1655]

If you’re happy it’s never a mistake

[@ThisIsOurRetirement]

Very true Joey 🌺☕️

[@nrs6956]

@@ThisIsOurRetirementAGREE!

[@Moving.To.Charleston]

Yes! that's the most important factor.

[@joewasrippedoff8152]

They are not happy that’s why they keep mentioning it. They are full of regrets it shows in their words and body language nobody that’s healthy would choose to live in an apartment over a house unless you are financially strapped and desperate, an apartment would feel like a seniors residence.

[@karenmurtaghyoga9195]

Downsizing is also another option. We sold our big house and bought a very small one - less taxes, heating, maintenance, etc. Our bills are much lower with no rent or mortgage. Every scenario has its merits. Depends on how much you can get for your house, where you want to live, your lifestyle, and so on. Our big house felt sad once the children left to be honest. It was a lot of upkeep. I loved it but I was not sad to leave it. Another family moved in and that made me happy.

[@genxx2724]

On the other hand, the big house is very nice when the family comes for gatherings, and you will use the bedrooms for grandchildren to stay.

[@BoninBrighton]

@@genxx2724it’s a fantasy though as often ‘family’ don’t sleepover or have other ideas about Xmas

[@BoninBrighton]

We were exactly like you- 28 years of a large complex family home with land….we now have a modern easy to lock up and leave apartment by the sea for when we are travelling. We plan to eventually rent it out and use that for travel too…

[@karenmurtaghyoga9195]

​@@genxx2724 Absolutely. Not a one fit for every situation as there are benefits to a variety of living options. For us, downsizing felt like a huge relief. But, I also have a friend who downsized to a condo, didn't like it and moved back into a house. Some move in with their children or vice versa - sometimes that is wonderful option and sometimes it really is not.

[@rustykatt3870]

HI karen. I'm glad you preserved some property investment. I'm seeing so many seniors who did not, and now are renters without a lot of money.

[@oldbloke204]

Yeah sorry but I just don't agree with some of these points tbh. All the boomers aren't going to just sell en masse and there are plenty of people coming up behind them so it's really just a number not a financial term or a hard cut in terms of outcomes imo. I would suggest that it's more likely that someone living in a unit is more likely to face the risk of issues than someone having their house compulsorily acquired by authorities as well. Look at what's happening in the US, and we see it here often as well, where either rents are going ballistic or building repairs and insurance mean that people can no longer afford to stay where they are. With rent control who is actually paying the difference or is it written in stone that it can't be changed? Equally I would say that having your money in things like shares or whatever is hardly having control given the way markets are going as well atm. We've basically had one of the biggest booms off the back of money printing that the world has seen and it looks to be coming to an end. In some ways you've been incredibly lucky and couldn't have done what you have in many places imo. I'm guessing that if you'd done this here in Australia the outcome would have been very different. I'm glad it as worked out so far but I would suggest that it's a one and done type deal, and cashing in on capital growth in property, so people should think carefully about it all, or get advice, and not just look at the money it may unlock or what how they could spend it.

[@williamjsmith9877]

I totaly aggree with most of what you say, bought my house here in the Orlando area 20 years ago, then rented it for 2 years before retireing, bought 3 more in the same sub when all the brits were throwing in the towel, value has more than doubled to over $1m, cant do that in a rental, invest in CD's with FDIC. What happens if the rent control is revoked.

[@craftsmanctfl3493]

@@williamjsmith9877 It’s highly unlikely the rent control will be revoked or changed much. There would be too much outcry. If news’s rent control or stabilization, it’s an extremely lucky and rare situation when looking at all housing throughout Canada and the U.S.

[@oldbloke204]

@@craftsmanctfl3493 The thing with any form of cost control is that someone has to pay. If things change then anything is possible imo. Basically selling your home for a cash top up based on increasing capital values in most places. I suspect that in the 8 year timeframe mentioned our home has gone up by a huge amount but so has the cost of other places, rent and everything else. If we had done it we would be in financial trouble now imo. Each to their own and situational as well.

[@daviddrew4000]

Your right , These guys are in a semi dream state and to put it bluntly some of their advice is silly and in some cases dangerous . I live in Canada and have done for 57 years people getting their houses appropriated is so rare and I suspect in most instances they received a fair market price + so using that as minus example in home owning is dumb .Then carrying on about all the free stuff in their rent controlled building is also dumb , if your in a rent controlled building in Canada the chances are it’s not in the top range of properties, not my choice but obviously good enough for some people .

[@billyrock8305]

My house almost doubled in value in 7 years ago and I sold it for almost $2 million generating a massive retirement cash flow. The best investment decision in a lifetime. 😊 💰

[@ThisIsOurRetirement]

Awesome!

[@davisholman8149]

I have hall a million in equity in my 4 bed 3 bath large home. Rather than sell, I plan to lease out my house here in Scottsdale🌵Arizona. There is a huge market for leasing & it will cash flow an additional 2K in monthly income for me., even keeping back money for repairs. I have can travel on that easily with my additional retirement income.

[@GeeLee1957]

Are you from Vancouver or Toronto? .... lol

[@Kitiwake]

There are no mistakes. Just decisions.

[@ThisIsOurRetirement]

Very well said Cheers 🍻🙂

[@michaeltorrey3603]

I have mixed feelings about this topic. While not enthused over the burden of home ownership, I’ve run the numbers and renting would be more costly for me. The senior living apartments where I live are all luxury and outrageously expensive. I don’t worry so much about property taxes as much as insurance but there’s renters insurance to go along with renting. Can’t ever escape insurance.

[@bw5277]

We took some pushback for selling our home when we retired but am glad we did. No repairs, maintenance , more freedom to travel. Apt living suits us.

[@ThisIsOurRetirement]

Isn’t it wonderful we love it too 🌺🙂

[@bw5277]

Sold our 4 bedroom house 6 years ago. Kids are grown. Sure we could get more now, but would have missed out on travels during this time. I looked at rising HOA, insurance, property taxes, maintenance and repairs, etc. I have no regrets. I hear of many people spending small fortunes on roofing, plumbing, a/c, painting, landscaping, etc.....Invested most of funds into SP500. We use gym, pool spa, at apt complex and travel worry free. Enjoy you two!

[@ThisIsOurRetirement]

Awesome 🌺🙂

[@oldbloke204]

What's the plan if the investment goes the other way?

[@williamjones4456]

We paid off the house, heloc the downsized bungalow, 8 years ago. Retired two years ago. Sold the family home , paid off the heloc, and bought a condo. Traveled, the rental has doubled in value, we max out the tsfa...every thing was as close to perfect as possible. Then my wife, best friend and soul mate passes away. Somethings you just can't plan for. Enjoy your day, everyday. Ty Tina and Norm.

[@boohoo4962]

🙏❤

[@ThisIsOurRetirement]

We are so sorry for your loss William , please take care 🌺🤗

[@brendalabranche365]

Sorry for your loss

[@robertmiur2388]

Very sorry

[@rory644]

Lots of phantom costs with home ownership we used to love renting and now also happy as owners, everyone should run the numbers and make the best choice for their specific situation 😊

[@RC-fh2lk]

In about 3-4 years when I join my wife in full retirement our house will be sold ASAP. There’s a financial component but lifestyle is the main motivation. Don’t want to cut grass, change furnace filters or replace furnaces. Also, sump pumps can be a problem if I want to be somewhere other than home. I’m just not attached to my house…home can be anywhere !

[@KevinNordstrom]

Just pay a landscaping crew. If your house is paid off it's still cheaper than renting that continue to go up

[@sharischmidt4712]

We did exactly the same thing, sold our mortgage free very large home and even larger garden, seven years ago and very happy we did!!!! All of our travel, wonderful experiences with family and friends that we couldn't have afforded with the never ending maintenance of keeping up with our 29 year old house. We live in a new condo that is beautiful and modern with very little upkeep especially when compared to a large house and yard!! Congratulations on reaching 70.000 subscribers!!! You have created a great channel!!!! 😊

[@ThisIsOurRetirement]

Thank you 🌺

[@stephenandrew6410]

I’m really glad it worked out so well for you, Tina and Norm. Here in Florida things are a bit different. I really would like to ditch the home ownership and pool and lawn maintenance, but it seems like the rents are just out of control. Insurance is high, but thankfully taxes are pretty stable.

[@jandmvideos9051]

My area does not have rent controlled apartments. A couple of years ago, I discussed selling my home and downsizing with my financial planner. He recommended that I research areas where I’d like to live before making a decision to sell. I was shocked at home prices and the price of rentals. Even with the cost of upgrades and maintenance, it’s less expensive for me to stay put. I am happy that selling worked out for you. I enjoy your videos.

[@ThisIsOurRetirement]

Sounds like you did a lot of research and saw what was best for you , we are happy for you glad you enjoy our videos Cheers 🌺🙂☕️

[@wgotowym8004]

Parents are in the 80s. they love having their own garden in the backyard. It's their favorite past time​@@ThisIsOurRetirement

[@jgriffin282]

How do you find rent controlled properties? Because uncontrolled rentals seem like a nightmare.

[@fredbehn9287]

Your assessment of home ownership and moving to an apartment overlooks a key thing for people like my wife and me. We are retired and live on acreage in a rural farming area in a large house I completely remodeled nearly 30 years ago. It's been paid off for years. We're surrounded by fields, pasture, and woods and, most importantly, have no one living near us. We can't see the neighbors from our house on a hill. It's completely private. I've lived in homes in our nearby city with neighbors on our doorstep and have lived in apartments, too, when younger. We would lose our minds cramped up living in a condo or an apartment. But, then, I grew up on a large dairy farm in the 1950's. The need for space is wired in. By the way, we still manage to travel.

[@ThisIsOurRetirement]

As you age social isolation can become an issue. You likely spend a large amount of your retirement income on maintenance and cosmetics of your home.

[@Brightangel55]

Sounds like heaven on earth 😊

[@renataferreira8829]

Anti social?

[@BoninBrighton]

We also lived in a rural area… with horses and land BUT the chores became too large a part of our life so we moved to the city to a condo overlooking 40 acres of parkland and 5 mins from the sea. We can walk into the green hills and city transport is frequent. We’re one hour from London. We love our life now.

[@JBoy340a]

I expect as our physical abilities fade due to age we will have to move from a stand along home with associated upkeep to a condo or other lower maintenance single story situation. Getting old sucks, but it is better than the alternative.

[@pepperh3697]

I love my apartment and location. I can't imagine trying to care for a house by myself. Love watching your channel :)

[@ThisIsOurRetirement]

Thank you so much! glad you love your apartment too ❤️

[@JimBland-f9j]

We are in our early 70’s. This year we sold our house and received top price. This money added with our retirement fund has put us in a financially comfortable position, far beyond our previous dreams. We have moved to a new apartment with a pool, billiards room, roof top exercise room, party room and roof top barbecues. We were able to clear out all our excess junk and furniture. Lock the door and go, off on an Alaskan cruise in August. Apartment life with mostly retirees, has improved our social life with little to no responsibility. Loving life, no worries.

[@kahvac]

Are you happier now ?

[@JimBland-f9j]

@@kahvac We have never been happier

[@kahvac]

@@JimBland-f9j I'm happy for you ! .......... May you enjoy life in good health !

[@ThisIsOurRetirement]

So happy for you both we love apartment living too ❤️🙂

[@BoninBrighton]

It’s exactly what we did- who knew this modern low maintenance high spec apartment living could be so much fun with no chores to do!

[@lynn9931]

I know I have mentioned this before but you guys actually changed our lives, after watching your channel during covid we took the plunge, sold our house in Ontario and had enough capital to pay off our debts and buy a condo closer to our children and grandchildren in Edmonton which we love. I knew this was our last chance to get this right so for us renting was too scary and we feel secure knowing we own our space, yes we know the pitfalls about special assessments etc but we look at that cost the same as needing a new roof, furnace etc in a house, the condo fees are less than we paid for all the extras of a house such as property tax, electric, house insurance and so on. We have had a few trips since retirement and if we hadn't moved my husband would still be driving long distance and I would still be washing laundry in a Hotel. We love to watch your videos and you guys are not telling everyone this works for everyone but you are telling your story and have inspired many of us to look at our future plans and decide what's best for us so Thank you for all the advice and tips (including the train trip) lol.

[@whiterabbit3439]

Many thoughtful points Tina and Norm! I recall an interview with the late Charlie Munger. He was asked what people did in the Great Depression. He quipped that you went to the hardware store for some plywood/studs and built a room in the basement for affected relatives. Speaks to the precarious nature of home supply.

[@rustykatt3870]

Hi whiterabbit. Thank you for sharing this information. This was survival during the Great Depression.

[@whiterabbit3439]

@@rustykatt3870 You are welcome. I miss Charlie Munger and his "Mungerisms"!

[@billgreen8966]

Guys, the secret to your retirement after selling your house is that your apartment is RENT CONTROLLED. As you recognize without that you would be in financial pain right now. I checked and it seems that in Toronto apartments occupied after 2018 are not rent controlled, presumably because it is not financially viable to build new rent controlled apartments anymore. No such thing in Oz except state housing and that is swamped. The other issue that comes to mind is if the apartments that are rent controlled are privately owned and costs are rising so much how can the landlord survive financially. For these reasons most couples in your situation in Oz sell the family home and then BUY an apartment for security and to lock in future capital gains.

[@85728itsmeee]

Mom and pop landlords are being squeezed out, landlords rapidly rising costs are not controlled but rents are so that can only go badly until the big corporations own everything.

[@pastryshack551]

We don't know where this couple lives, because rent controls can ot go on for years unless this is subsidize housing. Most of the retired I know have rented out their homes and have been traveling all over the world. When they decide to return their nest egg will be there. As long as you are healthy, I think it's a good idea to hold on to your home. The value of their home in today's market would be very high. 8 years is a long time to walk away from thousands of $.

[@lilybee_]

We built our home 4 years ago. We just heard that 2 bedroom rentals are more expensive than our house payments. We can't afford to rent and are very pleased that we have a fixed low interest rate on our home. We could sell for $150k more than we bought it for but we're going to stay here.

[@whiterabbit3439]

Yes, every case is different. In Canada max mortgage term is 5 years, so can be dicey. Early 1980s Canadian interest rates were 20~ %.

[@deniseryan4146]

Rent here in Pennsylvania is 1500 a month. Yikes! I'll stay in my paid for house with family and good medical care nearby. We put away $275/ month for taxes. We can't live anywhere for that amount. Until a better idea comes by, we're all good! Now, gotta get packing for our cruise!

[@jandmvideos9051]

@@deniseryan4146 I’m with you. I live in Tennessee where rent used to be low. Not anymore. I’m thankful that my mortgage was paid off years ago.

[@CraigMarchessault]

You guys are great. Your situation is very unique in that your apartment is rent controlled. Odds of anybody finding your situation in the US is zero. Also you have had the good fortune of investing the proceeds of the sale of your house in a bull market. We sold our house in the northeast and paid half for house in midatlantic Cut our taxes 70%. We rented for two years prior to moving and paid $50000 in rent. I’m not spending that on my paid for house upkeep. If I could find the great rental you have the good fortune of having anywhere in the US I would consider it. My wife and I love you guys and just wanted to give different perspective

[@eattherich9215]

You sound as if you have a sweet deal renting. I'm a retiree in England and briefly considered renting, but it didn't seem quite right for me.

[@stuartscott8099]

Renting in retirement has worked for you in Canada, but those of us back in the old country (UK), where we don't have rent controls, would be mad to rent in retirement if they didn't have to.

[@Paws_RC]

Not all of Canada has rent control, they are lucky where they are living to have it

[@ThisIsOurRetirement]

Cheers Stuart 🇬🇧🍻🇨🇦🙂

[@denisescally7090]

There are rentable retirement flats in the UK called Anchor I think some are nice and modern and some dated. None with swimming pools though! You can be 55 or over but they look like a lot of much older people because I think us Brits do tend to hold onto our homes until the very end 😮

[@tonemeister2318]

You can defer your property taxes as a senior. The security of ownership is not comparable to renting. Nobody wants to be forced to move as a senior. You have a much higher chance of being forced to move if you are renting. If you are not able to establish an investment portfolio while owning then that is a different story. You have no option but to sell if you require cash flow. Net worth is your safety net as you get older. A home is probably the best contributor to net worth. Having any form of debt in retirement is really not an option either. You did what you needed to do but I would not recommend the route you took to others unless they did not save for retirement outside of their home either. Retirement requires a combination of net worth AND cash flow. Everyone must plan ahead.

[@kaycee625]

Excellent advice

[@bertschuh5720]

exactly!

[@gennesamann4323]

Age, and health can FORCE you out of your home as well. It sucks when you don’t have the choice to make your own decision to move. I think making your own choice when to move is priceless. I’m at an age where I don’t want to be tied to a house that needs upkeep and all the yard work, etc. I’d much rather be able to walk away from my apt and travel without concerns whilst I’m away! And have more money to do so. I don’t plan to leave my money to my kids on my death. I worked hard to have the opportunity to travel in retirement and I don’t subscribe to the thought process that I owe my children an inheritance!

[@waffles1ca]

You can’t predict the future, you cannot change the past. Enjoy the present. If we sold our house we would have to include our two young adult children… they are a joy

[@TheBillaro]

you would include your children in the sale? 😅

[@HGills]

I’ve read a few negative comments or ones that suggest you could have done things differently and although some have merit we need to remember that what you chose to do worked for you, and you’ve made that work for the last 8 years. There is no one size fits all when it comes to retirement because we don’t all start the process from the same place. Some of us have over a million dollars in work place pensions (in Australia that is compulsory superannuation that we can access at 60) some have investments and savings in some form or another and others have their family home that they either rent out or sell. Like a lot of countries there is also an aged based pension, once you reach qualifying age (in Australia this is asset based so someone with a hefty superannuation doesn’t qualify but may do as they age and draw down on Super) Whatever works for you to find your happy place is the right decision for you. There is no woulda, shoulda, coulda as they say.

[@ThisIsOurRetirement]

Thank you for your comment we appreciate your insight.

[@vleal1212]

Hello… are you able to say who you invest with? Nowadays, it’s hard to trust most investment companies unless referred by someone. Thanks

[@ThisIsOurRetirement]

We invest ourselves with a low cost broker

[@Goldwest]

I’m so glad to hear you talk about this. We are 67 and 71, husband is still working, we are debt free including the house. Yet, We won’t be able to live off our SS. We are planning to put our house on the market next month. It’s such a hard decision, but you make me feel better. Thanks!❤

[@ThisIsOurRetirement]

Your very welcome we wish you both all the best with your sale , for us it’s been 8 years and we have never been happier Cheers 🇺🇸☕️🇨🇦

[@rehrbar]

Wow, working at 71. At 57 I dread the thought of working til 65. As a factory worker my body is more or less finished. Taking it day by day right now…

[@brendalabranche365]

TOPIC IDEA.. “ retiring at the cottage”. This is often talked about in my neck of the woods ( Ontario) .. A three season cottage costs half of what a year round “house on the lake” costs (( what we’re in now)) .. We’re considering this option. Selling the big, expensive house ( with super high taxes) , and finding a cute cottage to spend summer and autumn in. Then travel to warmer climate when the snow falls…

[@bonnieralston1706]

Your plan will work as long as you are able to travel to warmer climates in the winter months. However, when health or mobility issues evolve with aging, what will you do with a property that isn't winterized and you can't use? It would be best to buy a house, that can be lived in 12 months of the year.

[@kahvac]

To sell your home for retirement ....very depressing !

[@ThisIsOurRetirement]

Not really we had always planned to , it was very exciting to move on to the next phase of our lives we love it 🙂

[@glennet9613]

⁠@@whisper2441Malcolm Fraser is famous for saying “life wasn’t meant to be easy”, Ned Kelly is famous for his last words on the gallows “such is life”.

[@JaneDoe-lq3du]

Your setup seems lovely. I love the idea of a stress free and simplified living arrangement. If it was easier to find a good rent controlled place with all of the amenities you have, I would totally be in favour of that kind of living arrangement.

[@simonwilliams9281]

Hi. Whilst I accept that the rental market is subject to affordability constraints, these are also uncertain and unpredictable. I can clearly see how moving into all inclusive controlled rental has worked for you both, but this is not widely available and where this is the case I think that renting rather than moving to a cheaper property is a more nuanced decision.

[@ThisIsOurRetirement]

Thanks for watching ☕️🙂

[@smallmj2886]

I would be happy to live in an apartment after we retire and the nest is empty, but gardening is one of my wife's favourite hobbies. So we will be downsizing soon to a much smaller new house where we can age in place. Though it will have a basement, everything that matters will be on the main floor, so we will be able to stop using the stairs if ours knees go. Our current huge 120 year old house is a nightmare to heat, but the new one will be extremely effecient, so our monthly costs will be much lower than now.

[@craftsmanctfl3493]

So much of this video is based on the unusually good fortune of finding the rare place with some type of rent control. Practically no one has access to these types of rentals, so that advice is essentially inapplicable to your viewers. Watch this video again and you’ll notice it seems to be patting yourselves on the back for your unusual good luck.

[@davefair2969]

I think with this kind of thing there's no absolute right or wrong and happy you found your way. I bought my Vancouver house 16 years ago and could sell it now at age 62 for about 1.2 million more than when I bought it. But I live in it and I like the house, have a fantastic view of the mountains, get good rental income from good tenants that also live here, and to top it all off my granddaughter has come to live with me, and while she's here it's an added reason not to sell, for now at least. I run my small part time business out of my garage too. When I was younger and self employed carpenter, I went on lots of trips to different countries and I don't really feel like I'd miss out if I didn't do a lot of travelling now. The city now wants to see taller buildings in the area and land assembly is the new thing, maybe millions of dollars. I think if some developer comes knocking and offering a ton of cash, then it'll be too tempting to not sell.

[@beckypetersen2680]

Do you feel bad that you are paying well under market value for your apartment? Are you somehow making the landlord lose money? Just wondering about that. You seemed to feel the "need" to pass your home on. I wouldn't feel that as a need - but if you are tired of the upkeep, etc. then what works for you is great. Maybe you got your house that way, however - someone else sold their house to you so you can bring up your family in it. However, I'll bet your kids would have loved to come back to the home place with their kids.

[@charlieclown9913]

You said you pay only a third more renting and getting free light bulbs and filters as a benefit in exchange for not owning a house that will appreciate in the next 20 years. I don’t get it???

[@chiparooo]

I enjoy my workshop and garage for woodworking, metalworking and car maintenance. Right now I enjoy these things too much to give up these spaces. Just would not work in a rental. Thanks for sharing!

[@janicespiers4123]

There are no controlled rentals or rental where you don't pay hydro and gas on a rental where l am here in Canada. With no mortgage l am paying 350 for taxes would not find anywhere .to live at that price. Your situation is not available in these times things have changed so much. We are traveling now before retirement.

[@ThisIsOurRetirement]

Thanks for sharing 🌺🙂

[@gjmarc]

Glad for you that you are enjoying retirement. However everyone has varying ideas of retirement. I understand as you live in a part of Canada that is cold and snow for a lengthy period so escaping that is part of the lifestyle. We live in a part of the country where it is milder and a huge enjoyment for us is our gardens and being outside, plus it is a bit of a rural area so lots of farms, horses and wildlife. We buy local produce, milk and eggs. Yes we are retired and we have been travelling, basically 2 trips @ year, one in the fall (when some of our gardens finish) and again in April (before the hordes of tourists). So therre is no magic bullet, best advice is do what fits your lifestyle. Oh I don't agree with the landlord needs tenants and tenants need landlords theory... sounds like a quote from the current Canadian PM... "and the budget will balance itself".

[@ThisIsOurRetirement]

We very much agree there is no one size fits all retirement, we are just sharing our stories, fyi where we live rental apartments have waiting lists.

[@gjmarc]

@@ThisIsOurRetirement Totally agree. BTW your budget figure of $25k for yearly travel is good, that's the figure we came up with after keeping spreadsheets on past and forecasting upcoming vacations.

[@rustykatt3870]

If people buy a starter home (it may be a job to find one, though) and stay in it, they may be better off. No big lot... no big home. Just a smaller home. You are more likely to able to stay in it until you die. The most common sense individuals I see, as I get older, are people (now seniors) who have not over bought, and have raised their kids in these homes. Life happens, but if we try to do this, we can possibly keep our homes. Good luck to all of us 😊.

[@keithhodges9018]

I live in the US. Rents here are almost double my mortgage payment. I have the funds to pay off my mortgage but with CDs at 5% plus it would cost me more than $7000.00 annually. Mortgage at 2.25% fixed 30 years.

[@ThisIsOurRetirement]

Rent is the maximum you will pay, mortgage is the minimum you pay, because of unexpected maintenance and repairs plus utilities.

[@garyspurrell9569]

Great video guys!! Useful information. Thanks for sharing. Are you guys renting in Ottawa or Kanata? How much is rent now? Also have you guys ever done a video OAS clawback and how it works based on income? Thanks again. We will keep watching. 😊

[@ThisIsOurRetirement]

We are in Southwest Ontario Gary and life is great 🍻🙂

[@jamesallen8468]

Will will do the same thing. You also save on property taxes, HOA fees and the burden of home ownership. Congrats!

[@ThisIsOurRetirement]

Awesome sounds great James 🍻🙂

[@jimike1001]

What cooling blanket did you purchase. So many on Amazon.

[@ThisIsOurRetirement]

The one in the link in the description of the latest movie

[@janej6853]

I see so many homes in my area that are not being kept up because it is older people living in them. They aren't going to get the full value of their house because they are gut jobs. When they move, they will be going to a retirement or long term care home and they are leaving all the cleanup and clean out to their children. Believe me, I know, having been through it twice already. We are struggling with this very decision of whether to stay in our home or sell, get the equity and either buy a condo or rent. The problem is that in Ontario, buying a condo or renting one is usually a lot of money and I would rather have the equity.

[@ThisIsOurRetirement]

Hi Jane, We have been through the clean up too and seeing our parents home deteriorate from the once immaculate condition is sad. There are still reasonable rents in Ontario and don't forget if the apartment is November 2018 or older it's rent controlled. Condos are a minefield of being underfunded for maintenance. Good luck

[@janej6853]

@@ThisIsOurRetirement It seems that there is rent control throughout Ontario. The rate for 2025 is 2.5%. It seems that once you are in a rental you are protected with this control. But once the rental becomes available, the rent can be set at whatever the owner wants to set it to. I think in the case of Ontario, you need to get out of the GTA. The further away from the GTA the less the price of rent should be.

[@ca9777]

I hate apartments. Awful! Neighbors are noisy, dirty, and odors in the hallways. Any rationalizing can’t cover up the fact multi family units suck! The only advantage to being there is you can leave on an extended trip and not worry about anyone breaking in or worry about cutting the grass and picking up the mail. Anyway have a great day and enjoy your travels.

[@OldGirlPhotography]

With a good company pension, selling the home to fund retirement is not my main concern. Instead, for me as a single home owner, it's a question of being able to look after it as I (and it) age. This past year, I had to hire help with the outdoor chores and with indoor maintenance and expect to be doing that now going forward. And I do need someone to look after things if I am away for any length of time. At some point, it just won't be practical to continue. But as I look around at the rental options, I haven't found a situation/lifestyle/location yet that works for me. Timing is everything. On the question of boomers selling their homes, I suspect many will be looking to pass along those properties to family members rather than selling on the open market. It's what I've been talking about with my family. Just a question of how to do it to be fair to everyone.

[@hyggeeof9885]

I split my house in two during civid and have ywo tenants upstairs and I live downstairs. I could not live with the insecurity and cost of renting. This way im payiny my daughter through college and living rent free. Yes maintenance is a pain ..but i feel blesed ovetall..

[@ThisIsOurRetirement]

Sounds like a good solution, thanks for sharing.

[@RebeccaandJohnAllendorfer]

We are considering selling and moving into rent and are trying to afford to get out of a worsening neighborhood in Cleveland, Ohio. I crunched the numbers and we could only just make it, without touching the money from the sale of the house. We are afraid to move from bad to worse.

[@ThisIsOurRetirement]

It seems like a daunting challenge, but also doing nothing is just as bad. Good luck with whatever you decide.

[@JulieMacKay-cd9hp]

Hi there. I wanted to know if you have a travel credit card that helps with reward points for flights and hotels. I’ve been looking as a Canadian.

[@ThisIsOurRetirement]

Not really we have one that gives points we use for food and our other we have travel insurance linked too 🌺✈️

[@tombkk1322]

Did your home double in value like so many? I’m a renter and love it also.

[@ThisIsOurRetirement]

No it trebled in 17 years

[@tombkk1322]

@@ThisIsOurRetirement Wow!

[@todddunn945]

I wouldn't mind selling, but there are exactly zero rentals in this area. So if we sold we would have to move. My wife, however, likes where we live a lot and has no interest in selling and even less interest in moving. If we did sell the house we would get enough out of it to rent a very nice apartment in Seattle for the rest of our lives. Yes, we are that old (closing in on 80). Currently the house costs us about $700/mo, which is only about a quarter of what a decent apartment would cost.

[@lindadorman2869]

I bought my first (and only) home in 1994 at age 34. The happiest day of my life came 20 years later when I sold it. I traveled for a few years but rented for the last 6 years and my rent hasn’t gone up since I moved in. It's not even rent-controlled - my landlord is just happy to have a responsible tenant that pays on time. The freedom to travel and flexibility to move, not to mention no maintenance or repair costs, makes renting a sensible choice for retirees.

[@ThisIsOurRetirement]

We are so pleased for you Linda totally agree about the freedom plus no unexpected maintenance and expenses we just love it Cheers ☕️❤️🤗

[@craftsmanctfl3493]

Of course, you are paying the maintenance and repair costs as part of the money you shell out for rent. The landlord still makes a probably tidy profit with you paying his or her expenses. If that wasn’t the case, they wouldn’t be in the landlord business.

[@BeefromSC]

You’re making great points and I thank you for sharing

[@ThisIsOurRetirement]

Thanks for watching!

[@jazzyflorida3757]

Sounds like your trying to convince yourself that it was a good idea to sell your house that has probably tripled in price. And now you will pay rent forever. Not sure your peers would agree that are sitting pretty on a lot of equity, and probably living mortgage free. But if you’re happy, that is all that matters!

[@ThisIsOurRetirement]

No we are convinced from day one

[@david888a]

They r convincing themselves. Renting is different from homeownership , yes, u don’t pay for maintenance but there’s no equity building too. In 8 years, I bet there’s mortgage to pay off unless u paid it off in 8 years which I doubt. Also, u sold at the wrong time for u said ,the prices went ballistic after u sold. Unless u put the money in equity that pays a 6-7% dividends monthly , your return will not equal or better than home appreciation over the long term once interest rates r cut..JMO

[@saversavvy2670]

You forget that they would not have been able to retire and travel these last 8 years without selling. If one has retirement accounts or pension to live on and still travel it makes sense to keep your home. If you don't it makes sense to sell the house to be able to retire. Every situation is different. 🌞

[@jazzyflorida3757]

@@saversavvy2670 true, but securing housing is critical and with inflation renting is a losing proposition in 2024

[@alisonlevy2273]

Hello. Great channel. Where do you live that rent is so affordable and available?

[@ThisIsOurRetirement]

Southwestern Ontario Alison 🌺🙂🍷

[@GeeLee1957]

Did you live in Vancouver or Toronto when you sold your home/

[@ThisIsOurRetirement]

Ottawa

[@genxx2724]

How do you budget for things like travel? I have been living very frugally and need to increase my lifestyle, but I don’t know how. Dave Ramsey says to set a budget for things like fun, and force yourself to spend it every month. Could you share the nuts and bolts of how you figured it out?

[@frankfeely9235]

Rent that includes fuel costs and local government taxes....not in the UK unfortunately. It's definitely a good idea to reduce the amount of cash tied up in your home if you can, we downsized. The private rental market here is pretty brutal.

[@ThisIsOurRetirement]

Thanks for sharing Frank 🍻🙂

[@dman030]

This sounds like a paid advertisement, but it's an interesting idea to move into a hotel, hadn't heard it before. I take it this is in the UK?

[@ThisIsOurRetirement]

No it isn’t we sold our home and rent an apartment in Canada 🇨🇦

[@carolnavan4137]

No rent control where I moved from (AB) or to (NS). Sold in good market, bought for cash. No way in heck could I afford rent in either market. Far cheaper to own for me even with the maintenance involved. Plus, I have 2 large dogs. This greatly reduces suitable rentals available. The only people I know of who are better off renting are those who live in rent controlled areas. (Ontario) Are there even rent controls anywhere outside of Ontario?

[@IamaDutch-Kiwi]

We see here that many 'eldery' have left leaving their family home so late they are now so attached to it , and fearful of change, they won't move to something smaller. So a family home is being occupied by (generally) one person where as you stated, a family could live. We sold our home and bought an apartment in 2014. Best move we ever made, I've loved watching the channel grow. The sky is the limit. Keep advising, sharing experiences. Greetings from the Northern Hemisphere once again. 👌🇳🇱🙋‍♀🥝

[@ThisIsOurRetirement]

That’s awesome Anita you bought an apartment and we have rented either way it gives that freedom thanks for supporting our channel Cheers 🇳🇱🌺🇨🇦☕️🙂

[@lesf5792]

Helen & I stumbled across your channel recently. Co-incidentally, we are also in Ottawa. Who would have known?!?! We are discussing all sorts of housing / travel options. Might I ask what area your apartment is in? Rental prices in Ottawa are insane (IMO). And the thought of getting into a building that is not rent controlled worries me. So aging in place (our house) seems like a viable option. Though we cannot draw money from its equity to travel. Thoughts / comments? 😊

[@ThisIsOurRetirement]

We moved to Southwestern Ontario where the costs are less and slightly milder weather. Have you thought of selling and buying something cheaper (smaller), and banking the difference?

[@lesf5792]

We’re thinking of everything! 😂 This is why your journey is so informative for us! ❤❤

[@barbaragullap3789]

Hi T&N you are two very lucky people to have the renal situation that you have, but here in Las Vagas there is no such thing as rent control,I wish there was a 1bedroom starts at 1500 - 2000 when your lease is up your landlord can doubled it if he wants Every day I get phone calls do you want to sell your house? my ans is always the same and where will I live,I wish I could sell it as it has tripled in value,every size does not fit all.

[@ThisIsOurRetirement]

It is nice to have rent control Barbara Cheers 🇺🇸🙂🌺🇨🇦

[@BarbaraFrandsen-v4k]

I admire your channel but would like to know numbers involved in all your expenses and retirement income

[@Gurkha9]

I recently sold my house after decades of living there and moving out later this year and I couldn’t be happier, especially to leave la belle province. I will be a renter from now on and be free, finally 🎉

[@ThisIsOurRetirement]

That is awesome! we wish you all the best 🌺🙂

[@ldaven1968]

Do you live in a condo but rent? There are no apartments here that have a pool gym laundry in suite etc Would be a perfect thing for us in about 5 years after we turn 60. We are in oshawa

[@ThisIsOurRetirement]

No its an apartment building and we rent, not a condo.

[@ldaven1968]

@@ThisIsOurRetirement That is lucky. we are 40 min east of toronto

[@markbajek2541]

It's a nice life style just closing the door behind you and rolling a suitcase down the hall, 10 hours later you're in a vacation spot. As a homeowner you always have" back of the mind" worries about "did I close a window, did I do "this or that" or severe weather dropping a tree on the house in your absence or a huge expense of a major home system going Kaput and costing $30,000 and a hotel stay, while it's dealt with.. In your case the cost of most everything is in the rent ....It's like store bought pasta sauce it's all in there. Now get down to Illinois and listen to the buzzing sounds of the emerging cicadas . That's a sound of summer for sure.

[@ThisIsOurRetirement]

Cheers Mark 🇺🇸🍻🇨🇦🙂

[@diannecorbett5347]

Really enjoyed this conversation. Thought provoking. Thank you

[@alisonlevy2273]

Oh ok that makes sense. Keep up the great work!!😊

[@ThisIsOurRetirement]

Thank you! Will do!🌺🙂

[@bonnietovell3279]

I'll always have dogs and cats so I'll always have my own home.

[@ThisIsOurRetirement]

That's a great reason

[@thetiredtourist3927]

Rent prices are insane... throw your money away...

[@simonnicholls3650]

Guess you had no choice but to sell...With no company pensions to fall back on.

[@ThisIsOurRetirement]

No our plan was to always sell the house 🙂

[@simonnicholls3650]

Exactly.. your only option.

[@kansaidan2302]

Glad you're both happy and content in Canada; for ourselves, if Canada offered us a 50% across-the-board living subsidy ...... we would never move there. Too cold ..... too authoritarian ..... 2nd rate health service ..... and more. Just doesn't rate that high on our longterm livable places list. We also understand that no place is perfect.

[@missmayflower]

Never look back with regret you always make the best decision based on the information you had at the time. You didn’t know then what you know now. So, if you had waited, you’d have missed out on great experiences. You would have received more money, but also would have to shell out way more money for a new place.

[@laurawalker6431]

But what did you do with your money? You did explain…thanks

[@ThisIsOurRetirement]

We invested in the stock market and short term high interest savings accounts.

[@laurawalker6431]

@@ThisIsOurRetirement for example? Thanks

[@johnjaco5544]

I don't have to sell my house to afford my retirement. I never considered my house an investment It's a place to live and store all my stuff.

[@robocop581]

But they'll argue what if the roof collapses or water heater needs to be replaced

[@saversavvy2670]

That's great for you. 🌞

[@mattrath8535]

Thanks for your videos I always find them interesting. A couple of observations I wanted to share. First off, you guys were very lucky with the timing of coming to Canada and buying your home. It could have gone very differently and you'd probably be forced to work longer and put off your retirement travel plans. Second, try not to lose sight of the fact your kids won't be so fortunate. The days of affordable homes in Canada, especially around the GTA are over. Where do they plan on living? Will they be renters the rest of their lives - or at least until they're old and grey and long past the age of having kids themselves. Lastly, can someone explain to me why so many Brits are coming to Canada? I guess for the same reasons as my grandfather who came to Canada from England, better opportunity and a clean start?

[@denisescally7090]

I think you might find that your Grandfather's generation went over to help build Canada.

[@mattrath8535]

@@denisescally7090 Canada is a country of immigrants, excluding the First Nations people. While they have all helped build Canada into what it is today that's not the reason why they left their home country.

[@dk7934]

Norm...why are you not wearing a Rush or other music related shirt? LOL.

[@mabelh7305]

I knew something was missing! :)

[@ThisIsOurRetirement]

Just having a change ! Cheers 🍻🙂

[@JBoy340a]

Laundry day?

[@ThisIsOurRetirement]

😂😂😂😂🍻

[@maggiria]

In, BC, a growing trend is unhoused seniors who are losing their rental housing. Many are being renovicted or find their apartments being sold or torn down to build rentals or private owned condos. They may have been in the rental unit for years which means their rent is lower than others. Right now the average time a new tenant faces renovictions or some excuse to have them move is 5 years here.

[@lisah336]

Your choice seems perfect for you. Others love puttering around their house and yard. That said I knew someone who bought houses for rentals. He only bought in markets after considerable analysis comparing rental rates and house costs. Sometimes renting was the best value. Other times he'd buy a house for rental later.

[@onniegranados8489]

Man I hate these click-bait titles.

[@ThisIsOurRetirement]

Not click bait just asking a question 🤔