Making a sea or tree change

No matter what stage of life you’re at, depending on your personality, change can always be on the agenda.

You might be young parents, looking for a better place for your kids to grow up, or you may be approaching retirement and planning to get out of the rat race and start a new chapter in life.

Whatever your reasons for yearning for a country or coastal change, you need to analyse whether this is the right move for you. There’s a lot to consider before you up and go.

Family and friends

• Are you leaving behind people who need you? For example ageing parents.
• Will you have family and friends where you’re heading?
• If not, will you miss your family and friends?
• How often will you travel back to catch up with people?
• Will it be somewhere your loved ones will want to visit, and find reasonably easy to visit?
• Will your family be well catered for in the new town? For children, are the education and sporting facilities what you want?
• If you’re taking children with you, are they going to be happy with the move – if you have a choice, time the move around what you think would be best for them. For example, moving at a young age so they can make new friends, and not at a critical time in their schooling.

Work and lifestyle

• Will you be able to find suitable work where you’re heading?
• Do you have work skills that are portable?
• Will you have to travel with work? If so, does your new home have easy access to major transport, or is it going to be a headache each time you have to catch a plane?
• If you’re leaving or have left the workforce, is there enough to keep you busy in your new home town?
• Are you leaving behind a network of sporting/cultural/work contacts that you’ll miss?
• Can you stay fit and healthy where you end up – will it potentially improve your health and lifestyle?
• If it’s a small community you’re moving to, does it have the amenities you need/enjoy? For example, cafes, restaurants, entertainment, medical and other services.

Finances

You need to work out the practicalities of the move, as they’ll have an impact on your finances.

This could be the perfect time to appraise your overall financial situation and find out if you can afford to carry out your plans.

You may have a close affinity with a rustic village in the mountains, or with a coastal paradise where you spent many a childhood holiday, and have always dreamt of living there permanently.
If you’ve been through the practicalities of a change and decided it’s right for you, now you have to decide where you’ll end up.

When choosing a location for your sea or tree change, think about things like:

• The lifestyle benefits of the change – where’s the best place for your and your partner/family?
• The amenities the town offers
• Access to your friends and family in your former hometown – how hard is it?
• Climate and any extreme weather the area experiences – are these conditions you enjoy, and are the risks of adverse events high?
• The expense of buying in the area – what you can afford and what you get for your money
• Potential for capital gain with your sea change – it could end up being a good investment in money as well as lifestyle terms
• The economy of the town, and the feel of the place. Make sure you’ve moving to a positive place, not somewhere that’s really struggling economically.

Set about researching the best locations, and don’t let emotion rule the decision. You may be in love with a little village, and although it’s great to stay in for a relaxing weekend, it may offer very little in the long-term.

Trawl through internet real estate sites and research the areas themselves on the internet. Draw up a shortlist and plan a visit if you haven’t been there before, and an extended stay if you know the location.

Practically and emotionally you need to prepare for a big change of scenery and lifestyle.

When you do decide to take the plunge, it may involve selling your home in the city. 

Many retirees leave the big smoke behind, sell their family home, but purchase a small city unit, so they can return and catch up with loved ones, and maybe enjoy a dose of theatre and nightlife.

Depending on where you’re moving, you may be looking for a new type of car, perhaps a four wheel drive, or be in the market for a boat to ply the waters near your new home.

If you’re looking to make a sea or tree change then we can certainly help.

An A-Z Review^® with an ANZ Personal Banker: selling a home is a great time to review your overall finances. Our Personal Bankers could help you:

• work towards your goals, get your everyday banking in shape and if you’re buying a new home, provide an indication of what you might be able to borrow.
• protect your new home with ANZ Home Insurance, which guarantees full building replacement and covers you in the event of flood, fire, wind, rain and cyclone if your claim is accepted¹.
• explore options for parking the money from the sale of your property to ensure you’re maximizing returns.

An ANZ Financial Planner can help you determine if selling your home and moving is the right strategy from a financial point of view by analysing the impact to your investments of an additional lump sum. They can also help you with strategies for investing the proceeds of the sale to help build wealth for the future. Make an appointment with an ANZ Financial Planner.

ANZ Home Loans: if you’re planning to buy a new home, an ANZ Home Loan specialist can help you explore your options and find the right solution to suit your needs. And remember, ANZ is Australia’s most awarded home lender². Contact us today.