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RE: To Finance or Not to Finance
About 20 years ago an opportunity arose for us to buy our dream homestead in Wales. It was opportunity that was only open for a very short space of time so we took it but it meant borrowing a lot of money on a mortgate. But if we hadn't taken the chance at that time it might never have come again.
We took the mortgage for 25 years but we really don't want to be tied down for so long so we worked and worked. First in one job, then in two, then in three.
It meant a lot of sacrifices but after 11 years and 1 month we finally paid off the debt. We were so very very happy. It was hard work but it was worth it.
The feeling of owning our own place with no debt to anyone was immense. It was a major life achievement.
I can only imagine how awesome that must have felt. We are thinking of doing something similar. Not sure how long it would take us, that might depend on the number of children we are blessed with, but we certainly don't plan on staying in debt for 30 years.
Well done! We've always paid down extra on our mortgages to try and clear them sooner. For us, though, the job situation here in South Australia is getting worse. Last time hubby was made redundant it took him 4 months to get more work and it was at a supplier for GM Holden which they were already talking about shutting down. Now October is the final month and in an area where unemployment is at 33% we're going to have thousands more looking for work and it will have a knock on affect throughout Australia. Things have changed a lot in just 10 years and job stability has become a thing of the past here. Is not even easy to get a job at MacDonalds now! 😂 we're certainly facing an uncertain future.
We absolutely are. I pray your husband will find a new job quickly. My husband has both a trade and an academic degree, so we are hoping his chances are a little better in a worst-case scenario, but you never know. Right now the industry he is in is booming here in Denmark, so, for now, we can breathe a bit more relaxed.
That's great news. Gives you that breathing space to get rid of the chains as soon as possible!
I can't wait to hear about what you get.