Take A Deep Breath And Move On
(self-creation/ SparkPost App)
Dear Friends and Followers,
I am currently living under the storm... running out of time due to my real life issue but try to show up when my time allow me to.
In the past one year, I have dedicated many hours daily for several projects and try my best here. Many months ago, I told some of my close team members that I need to get the work done before starting to build my new home, because this project will take me a lot of time and more.
My new home project with a vineyard requires much more then I thought, especially when it comes to financial topic. I would love to keep my home at the outskirt of Vienna but as the new project comes with the high cost, I am now selling my home instead of running to the bank for a credit. It is a bit sad because this was built several years ago...but that how it is...nobody can have everything.
There are many things to manage and I try to do everything I could do by myself to reduce the cost ...everyday seems to come with an endless duty. I have never work as hard as now but that is part of life too.
I guess we all have our story and trying to make the best out of it. No matter your story is...no matter how hard it is...just take a deep breath and move on...carry love and positivity with you.
Sorry I maybe not able to keep up with everything at the moment but will try to follow as much as possible. I will be less active until end of the year and hopefully I can finish some big works before the winter arrives.
Thank you for good wishes and encouragements, I will carry them in my heart and send this all back to you...let us stay positive and move on.
🧡
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Enjoy your new home project girl ❤️
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Will do, thanks 🌻
There are always unexpected costs involved with such projects as yours. Selling your current home is a bold move: where would you live (or is there living space ready in your new place?).
I don't know about not going to the bank - interest rates are at an all-time low and likely remain so. You would have to calculate if the future increase in property value of your present home would not more than just offset the interest on a bank loan. It might be advisable to consult a financial consultant. I sense there is some urgency to get your financial house in order, but think it through: if you need money now, selling your current home might take some time, and if you are pressed financially, you might just sell under value just so you get the money you need right now.
Being in a urgent situation you may not make the best deal selling your current home.
Additional observation:
Do you have a place to live if and when you sell your home?
If so, could you not just keep your current home and rent it out, with the rental income covering payments for a bank loan for the money you need for your vineyard project?
Yes, that was my first thought, take a long life m credit and rent out my house but then it will take me too long to pay back, who knows what will happen in the future.
I just want to be a free man without the title “LohnSklaven”
I got investments and property in Canada, but I also have a open-ended loan agreement with my Canadian bank from which I can draw up to a certain amount at any time (that would be covered by my house) should a emergency arise. I don't use it much, but it is available should I need it. Same with credit cards - I got high limit, but rarely use it except for convenience, and then I pay it off in full every month. Interest rates on credit cards are way too high, but mortgages can be had at a decent low rate, and if one income (from renting out) pays your mortgage, then you won't be a "wage slave" (wrong term used here, see below*), i.e. you bee leveraging your investments. Bottom line: the cost of money you borrow should be lower than the income (rent) you can generate from it. In my area in Canada where I lived I had known several people who own dozens of houses, which they bought with a minimum down payment and then rented out, usually for more than twice of their mortgage payments. Eventually, the mortgage is paid off, but the property is still yours, free and clear, and you make even more money from it.
A example of a bad way of borrowing money is if you buy a luxury car that will depreciate in value faster than paying off your loan. Been there too and learned my lesson from it.
*definition of wage slave: "a person who is wholly dependent on income from employment, typically employment of an arduous or menial nature."
You seem to have a lot on your plate.
I hope all goes well with your projects.
Best wishes.
Thank you Vince 🌻
Yes, it’s a lot to do now...the Winter is knocking at the door and we try to get the big work done before, especially the heater. It’s a complicated work that has to be done by professional installation company and it can not be done when its too cold. There is no Gas at the mountain area and heat with electricity will be very expensive in the future.
We decided to use a new heating technology like „air Heat pump“. It will pull the heat from the deep ground and use the heat to generate hot water. The whole house will be installed with little pipes that allow the hot water to travel around and generate heat.
Here is the heating a priority, in Asia the heat is for free .
Cool technology.
Yes, I can imagine.😊
It must have been a tough decision to make but wise not to owe the bank money that may incur monthly interest. All the best in all you need to settle and take care of your health.
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Thank you 🌻
Hello friend @siamcat. How does your pet follow?
Getting better daily, thank you 🌻
Stay strong friend! There's always light at the end of the tunnel.
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