No regrets ... Jenny doesn’t miss her bricks-and-mortar home at all
Selling the family home to travel indefinitely is a terrifying proposition for many grey nomads who baulk at the idea of being out of the property market and of simply not have a home base to come back to.
However, there are still plenty of happy campers ready to take the ultimate leap of Big Lap faith and gamble on the endless open road.
Five years after selling their property in Canberra, self-funded retirees John and Jenny Rodwell say they have absolutely no regrets … but they say proper planning is essential.
“Despite a good circle of friends and neighbours we were more than happy to sell the family home of some 20 plus years and go on the wallaby,” said John. “Our kids were well established and there was no reason to live in a large home in a location that experienced severe winters with a high cost of living.”
The couple did their sums very carefully and – as much as they love travelling in their LandCruiser and Jayco Outback – they also developed a strategy for life after the open road. They set up their finances in such a way as to ensure they will be in a position to enter the property market again at some stage, probably at Hervey Bay in south-east Queensland where Jenny’s elderly mother lives.
“We are in no hurry and will bide our time and wait for the right opportunity,” said John. “We love what we are doing and, as long as the health factor is good, we will continue to travel.”
An important part of the Rodwells’ budget planning is based on the fact they have a self-contained rig and therefore rarely stay in caravan parks, and that they also do a lot of housesitting as they go.
“We are sought-after house sitters and spend 50% of our time looking after homeowners’ properties utilising their utilities and caring for their much loved pets,” said John. “We truly believe there is no other means of experiencing such a variety of living and meeting such wonderful people … some of the locations, and the properties we care for, can be totally amazing.”
Despite the careful planning, John admits he still keeps a wary eye on property prices rising ‘too high’.
“In that instance we would reign in our expectations and go with what we ‘need’ as opposed to what we ‘want’,” he said. “Selling your home and living in a caravan can just about send some people into total shock, so anyone toying with the idea should make sure their planning includes some type of retirement accommodation so they’re not left with only a vehicle and a caravan that depreciate over the years.”
While the Rodwells love their nomadic lives and have absolutely no regrets about selling up, they understand travel without a property safety net is not for everybody.
“What a lot of people cannot come to terms with is not having their ‘security blanket’, said John. “Everybody’s circumstances are different and so I would certainly not be prepared to advise people what to do.”
Good on them … living the dream, but there’s a couple of key words here ‘self funded’. Everyone will have different circumstances, Govt. pension, renting or selling, age, working on road, funds to buy again, all affect on pension. Careful planning, a good advisor all help, but I find it hard to get rid of our security blanket … maybe one day.
One risk of travelling with no fixed abode is that in the event of an emergency heath issue you may be stuck along way from where you regard as home. If you are no longer a resident of your home state that states health service may not agree to fund your medi-vac home or on going care. Not trying to scare anyone but it does happen, about 5 times each dry season in the NT apparently. So you need some emergency funds/insurance. Cheers
You could trip over you garden hose at home and become incapacitated will have a head on with a road train after going to sleep there are many things that will stop us from doing whatever we’d like to do forget it do it live life after all it doesn’t last long
We sold up and got rid off all our materialistic stuff 2 years ago, we live full time on the road and work along the way. Who says you have to work your arse off till you retire at 65, not us! We don’t have a house anymore and it’s the best decision we ever made, we own our OB Flamingo and 200 series Landcruiser and we are debt free, all at the age of 45.
Don’t want to be a spoil sport Karen but you mightn’t always feel the way you do at 45. If you have enough dough to buy back in at 65 or 70 then you’re well heeled and good on you. Enjoy your lifestyle.
Hi Karen
Just wondering how things are going with your travelling??
The reason I ask is because my partner and I are seriously thinking of doing what you have done, sell everything, buy a caravan and live full time on the road. We are both 56 years old and healthy..
I hope after 5 years you are still very happy with your decision and are loving your lifestyle.
Bought our caravan , selling our place ,retiring from work shortly , want to travel around, Will think of retirement accommodation when it’s time . Debt free , will be comfortable living on what we have