A weight is lifted from your shoulders, that's really good. Now what about meditation, have a read of Steven Ryan's post.. very interesting,
I meditate as soon as I get home from work each night.... Sometimes it might take a second or third glass!! But seriously; and this will sound dumb, but a lot of my "meditation" and mental healthcare comes from posting here and over at SS - even the argy-bargy threads.
That's really good, not everyone can be as open as you are, it takes a lot of courage, and I guess we don't all want to share. MTR
Different style of meditation, but I quite enjoy some of Jason Stephenson's guided meditations. I find his voice very soothing. https://www.youtube.com/user/ILoveJuicyShow
I will be in approx 2.5 hours from now (late start tonight - gotta pick the kids up from after-school care) I guess I could have a "traveller", but not recommended.
Congrats Bay View. Tough decision but as others have said onwards and upwards. You sound so much more empowered in your post!
im confused, if a better house came on the market for the same price as your selling offer, doesnt that put you in the same financial positon as you were before???
I think the better house came on the market for the same price as the offer that Bayview received from a buyer.
yeah, thats what I meant, so if he sells his house for $500k for example, and then sees a better house and buys that for $500k, then his net position is zero ps BV admire your persistence at your age, im not sure I could do that.
I don't think BV is going to buy the better house. The point is more that he should take the offer as the chances of getting a better one would appear low given the availability of the better house on the market.
We are not buying another house, unfortunately. We have found another place to rent for the forseeable future. Many folks will think this is stupid, but we have lived the "asset rich/cash poor" life for too long now and it's ******* us off. We've had enough, and our mental heath is suffering. It's not the house that is the problem; it's the business. We bought the business to provide cashflow and lifestyle, irrespective of the house...great house, great income and lifestyle. Perfect. I bought the business because I was sick of buying IP's that returned no income of any significant amount - asset rich and cashflow not rewarded. But, the turnover of the business has halved since year 1 currently. The business is forcing us out of the house. We can barely keep up with the business cost commitments; let alone our personal debts. Although the personal debts are not significant on their own; now that my income has halved it has become very, very tough and no fun anymore, and I am working way more hours for half the money. After the final wash-up, we will come out of this with about $275K in cash. This is barely enough to buy a crappy 2 bed unit in our suburb, and I don't want to go back into a significant debt for a decent PPoR - we only want to go into debt for income producing investments for now....cashflow. After five PPoR, owning one is no big deal for me. I am happy to rent forever if I can get an income in the multiple 6 figures, and now that we have sold and all debts are gone; this is more than doable. The house I was referring to that came on the market was merely a comparable to ours. It is asking less than what we were trying to get - they are asking $1.35m and we wanted $1.5m. Our buyers had also seen this other house, but they wanted ours because of the better views. But this other house is also in a more "postcode suburb" than our suburb, so there are more folks wandering around over there who are capable and willing to pay that much for a nice house - and do. Sales for very high end price range houses in our suburb are a lot fewer; despite what we think it is worth. When comparing all of this, we realised our chances of getting what we wanted were very limited, and we may be trying for another 6 months or a year to get that. Our current interest bill per year is $60k. So, we decided to take this offer of $1.38m and get out.
Putting mental health and family happinness before a flashy PPOR ? Of course it is the right decision. Once you have those in place the financial side of things will come together.
I don't think that's stupid. I think that's smart. There are brief moments where I think about owning a PPOR and having it look the way I want etc etc but I much prefer being a renter. I don't worry about upkeep and maintenance and spend weekends doing things outdoors rather than mow the lawn, fix this fix that. In addition, not having a PPOR has allowed me to build a pretty substantial IP portfolio. Unless you can well and truly afford the mortgage, PPOR's are an invisible noose around your neck.
