Hi SMSF101,

Thank you for your comments, but Just to clarify, I am not interested in purchasing the property as I am aware of the flood issue. We do have IP's in the area and know the house and the flood path.

My query is : I believe the advert is false and misleading, which would create interest to the unknowing buyer.

Is the misleading advert possibly illegal or even a breach of the sales and tradings act, or is the advert fine, and its the buyers responsibility to inspect, carry out DD and talk to the locals, and safely assume that all adverts are false and misleading ?

Hi All,

Good posts,

Terryw: What are you going to spend it all on  ?

Shiny_Suit_Man: mate, with your attitude, I think you are going to have an awesome retirement  !

Derek: I hope I get to be as well set up as you are when I'm your age  !   ( I'm envious ) 

Also the links are good, I think I might be one of those that works beyond 55, I don't think I would have $850,000 in my super by then, but I do play the lotto. ( I didn't win the 70 million by the way )
The reverse mortgage is also something new to me, but I guess it's a good idea for those who would need the available money. 

KY: Thank you for your storey, this is the kind of thing I would like to prevent happening to us. Once we retire, it would be very difficult to come back from any losses, and with only a pension to fall back on and work prospects being limited it would not be an enviable position.

I think retirement might be harder to organise than buying properties.

More research for me this weekend  ! 

Hi Catts,

I actually didn't have any plans until the conversation the other week, It has always seemed so far away to think about it in much detail.

But now it has been brought to my attention, I realise maybe I should be thinking ahead, and contemplate how I can best look after my wife and I in the long term.

We have a couple of IP's which we have intended to finance us in retirement, but I now want to look at how to live in retirement with the most comfort and minimal costs.
 
The retirement village lifestyle sounds ideal, but I'm still doing a bit of research. They seem to have a 55yr lease agreement, not sure what happens to the house after we pass, I guess it gets sold back to the village and the proceeds go to your estate.

I suppose what needs to be quantified is which is the more cost efficient:

PPOR with rates and maintenance 
Retirement village with no rates or maintenance but an ongoing "body corp".