Throwing in the towel bugger it I'm off…

[trevc]

Gravity, I don't think I could do what you are contemplating, but then I am a conservative accountant.

From a financial perspective, selling the home would mean selling your biggest asset, which has taken many years to accumulate. Is there some way you could manage the trip/time without having to sell the home? Then you return after a year with a large asset to continue your journey toward retirement.

I know many here are saying, do it you won't regret it and I do not disagree with that. But try to plan a way without selling everything. Maybe rent out the home and use the rental income to support your travels - that depends on your mortgage situation I guess.

Your home is a very valuable appreciating asset - to sell that has to be a massive commitment, and potentially cost you in the hundreds of thousands of dollars over the period of a year or so, from selling costs, stamp duties and lost capital appreciation. In the time you are taking off it will add value so maybe the lost income for a year will be somewhat offset by the added home value.

Just a thought.

Good point.
A year on the road cost us around $50k, everyone's different but I think $1k/week is pretty much right. I have a breakdown of what it cost us in 2014 if you want to do a search on my threads.

[UIZ733]

From a financial perspective, selling the home would mean selling your biggest asset, which has taken many years to accumulate. Is there some way you could manage the trip/time without having to sell the home? Then you return after a year with a large asset to continue your journey toward retirement.

I know many here are saying, do it you won't regret it and I do not disagree with that. But try to plan a way without selling everything. Maybe rent out the home and use the rental income to support your travels - that depends on your mortgage situation I guess.

Your home is a very valuable appreciating asset - to sell that has to be a massive commitment, and potentially cost you in the hundreds of thousands of dollars over the period of a year or so, from selling costs, stamp duties and lost capital appreciation. In the time you are taking off it will add value so maybe the lost income for a year will be somewhat offset by the added home value.

Just a thought.

I would have to agree. If there is any way to hold on to your house, even in the short term, it would be wise to do it.

[Gravity]

Gravity, I don't think I could do what you are contemplating, but then I am a conservative accountant.

From a financial perspective, selling the home would mean selling your biggest asset, which has taken many years to accumulate. Is there some way you could manage the trip/time without having to sell the home? Then you return after a year with a large asset to continue your journey toward retirement.

I know many here are saying, do it you won't regret it and I do not disagree with that. But try to plan a way without selling everything. Maybe rent out the home and use the rental income to support your travels - that depends on your mortgage situation I guess.

Your home is a very valuable appreciating asset - to sell that has to be a massive commitment, and potentially cost you in the hundreds of thousands of dollars over the period of a year or so, from selling costs, stamp duties and lost capital appreciation. In the time you are taking off it will add value so maybe the lost income for a year will be somewhat offset by the added home value.

Just a thought.

Will definitely look at investing our hard earned $$$ in land or another rental house as an investment , basically we wish to move from our suburb and live on the coast when we get back so a complete change of lifestyle…
Being a business owner I've been a slave to my work for to many years We've worked very hard to get to where we are today so not planing to go flutter it all away…Many of my friends have been struck down by illness and death , I just don't want to get to the point that we won't be able to share these great times with our kids, even when I'm 6 foot under they will have there memories something I never had from my dad.

[tk421]

Mate its the other way round with us. Wife is keen and would go at the drop of a hat, I'm the one who puts the brakes on all the time. My biggest issue is we don't have a big cash reserve or assets we could liquidise. 

As above, if I were you and you could keep your home but rent it out you'd get a guaranteed monthly income at least, outstanding mortgage depending of course.  And if things didn't work out you can come back into your house.

[Bird]

Travelling appeals to me..

coming back broke, and no home and starting from scratch like an 17yr old doesn't even remotely get me thinking of it.

It may to some people, all the power to them

[Gravity]

Travelling appeals to me..

coming back broke, and no home and starting from scratch like an 17yr old doesn't even remotely get me thinking of it.

It may to some people, all the power to them

I hear and understand what your saying but have no intention on starting all over again, most if not all of the house hold will go into storage and a new home would definitely be on the cards before we leave as said above I'm after a complete change of lifestyle and suburb coastal living with Inverloch in mind.

[edz]

Joff gives a good break down on costs, granted a couple of years ago but not that much different to now a days http://www.myswag.org/index.php?topic=5394.0..

[jetcrew]

We are only 16 weeks away but have subscribed to the 1K per week and have 16 gorillas ready to burn up 

Jet

[Gravity]

Joff gives a good break down on costs, granted a couple of years ago but not that much different to now a days http://www.myswag.org/index.php?topic=5394.0..

Thanks for the link edz, great reading that knowledge is priceless 

[Gravity]

We are only 16 weeks away but have subscribed to the 1K per week and have 16 gorillas ready to burn up 

Jet

Lucky man , be sure to share your adventures

[speewa158]

Lucky man , be sure to share your adventures

Gravity l have done stints on the road at various times of my life though not with kids a foot . l understand the 1K a week to travel but if you were to find work along the way  or free camp this can help a lot . lts not all travel as some wise man said stop to smell the roses .
Chuck the clock out the window or leave it at home & enjoy .    Treg up & make Dust   

[MDS69]

Good point.
A year on the road cost us around $50k, everyone's different but I think $1k/week is pretty much right. I have a breakdown of what it cost us in 2014 if you want to do a search on my threads.

Earlier this year we did a traditional family resort style three week holiday in the USA and it cost us $40k and that was holding back a teeny bit. So saving $50k or thereabouts for a 1 year trip around our beautiful country and retaining the family home and possessions seems achievable, albeit you need to top up the rental income to cover the mortgage payments so maybe another $10k for that.

What scares me is the same as what Bird said and agree with scblacks opinion

Travelling appeals to me..

coming back broke, and no home and starting from scratch like an 17yr old doesn't even remotely get me thinking of it.

It may to some people, all the power to them

As probably the same as a lot of others we dream of doing it and being a bit on the conservative side usually chicken out when it comes to the nitty gritty. With one child in Year 8 and another in Year 5 I don't think I want to interrupt their schooling especially the 13yo girl with this time in her life of friends etc as firefox mentioned.

[jd]

As I said earlier we sold our house but not to fund the trip but so we can settle and buy somewhere else if we like it.
 
I work casual FIFO so could still have a income when needed. Just set the family up in a caravan park and fly out to work. Over 12 months did 3 months work so was perfect.

Now picked up a full time job month on month off that requires me to live in so just about to stop and set up a family house again. But been able to finish our trip through WA while FIFO for the first couple of months, so couldn't ask for much more.

The $1000 a week average has been about spot on while on the road. Travelling Australia with kids website and Facebook page is great for info and ideas. There are heaps of Facebook pages and blogs of people's travels that you get so much info from as well.

The trip has been the best thing as a family to do. The kids have grown up in amazing environment. Our son is now 17 months old and moved into the van when 3 months so it is all he knows, camping and the great outdoors!!

[ldsparrow]

We sold up and travelled for 12 months in 2012. Loved every minute of it and have absolutely no regrets. Took each day as it came, did very little planning once we were on the road, made some lifetime friends and explored this great country.

[Patr80l]

.

[chester ver2.0]

Safe here average spend for out 2 half laps was 1k per week

I also had 7k put away in an emergency fund for a complete stuff up