We are approaching 50 years. Property is almost paid off, almost owning us an apartment in an older, but nevertheless modern building complex probably worth around 8 million NT$.
We are thinking about renting for the remaining work life and then maybe give us flexibility to live somewhere else in Taiwan.
I am aware that every situation is unique, but we are asking ourselves when the right time would be to make “a switch”. New buildings are currently to be build almost everwhere leaving the question if and how the value of those ca 15 years old current places (like we are living in right now) will be affected.
What’s your view regarding this ?
And is it worth to keep living in your own house aged 70,80 ?
And yeah, before you are asking. There are children, but it is not our intention to keep the house for inheritage purposes.
Just hold onto it and move somewhere else…Rent there and rent out your place. Or just sell it and buy a new one somewhere else
Do you need the cash ?
50 is too young to retire without a huge nest egg.
I’m renting now even though I could buy , mainly because I can rent cheap and have the money in other investments .
Plus I don’t want to buy where I live.
Find somewhere you really want to live and trade your house then ?
I don’t see prices plummeting anytime soon…Probably maintain or go slightly up in many areas…Drop in some less popular areas.
If you sold your property for $8 million, would your savings plus current income allow you to support the lifestyle you want? If so, why not make a move if that’s what you think would make you happy?
Life is way too short to stay in a home you no longer want to live in, waiting/hoping for the value of the home to appreciate further.