Hi Davy,
We purchased our current house/property a little over 20 years ago. It's been paid off for quite some time. We made an attempt to sell/move last fall, but didn't like the ways of our realtor.
We've needed a bigger house for a long time. Our property is a good size, but our house is way too small; and it only has one bathroom. The good thing is... our property has increased in value, quite nicely, over the years. It's best suited for redevelopment. There's been ongoing new construction on our street. Smaller older homes making way for bigger higher-end houses.
The problem is... where do we move to? We live in one of the most expensive areas in Canada. Buying a bigger home in our current location would necessitate taking out another mortgage. Not something we want to do, again. We'd prefer to get the best- bang-for-the-buck, using the money we make from selling our current property.
That's the tricky part.
There are many regions that would be less expensive/more affordable, but that usually means a significant relocation. For example, in Canada's maritime provinces - the homes and cost of living is often considerably cheaper than it is here(in southwestern B.C.) and in B.C., usually, the further out you go... the more affordable things become.
My family wants to live in a specific area, and our money won't go as far - due to the high cost of living.
If we don't want to take out a new mortgage, then town houses and condos fall within our price range. There is some detached housing, in the same price range, but it's usually harder to come by. Age and structural quality issues often come into play...
BTW, I've seen a lot of water/moisture related problems with leaky condos, especially stucco sided units, in our region. A few blocks down the road, the residents in one building(condominium complex) all had to kick in at least $70,000.00 for major structural repairs, caused by water damage. Now, the building beside that complex is going through the same type of major structural repairs.
I've even though about renting a 2 bedroom/bathroom apartment for a year or two, and holding on to our current property, until we get the price we're looking to sell for. That way we could utilize our existing property and the extra space in an apartment. My wife's job isn't secure(she could get bumped by someone with more seniority, which happened in the recent past).
Our young adult is still attending university, with a few more years to go. That's why we are trying to stay in a specific area. Once university has been completed, and if my wife's employment situation changes, then it's possible a new location would be required/preferred.
In the meantime, hopefully our current desirable property will continue to increase in value.
Re: my trains - I've been boxing up my locs, lately. In case we move. Still have about 10 enjoying their freedom(so I have something to run).
I have 3 North American electrics(an EP-2, an EP-3 and a P5a). Having operating overhead cantenary would be tres cool.
You're building up a nice European collection.
Cheers,
Rick