On Normzy, Permie and Nomadzy Housing strategies!
View this post on Hive: On Normzy, Permie and Nomadzy Housing strategies!
I've moved to Hive, along with most other people, following Justin Sun's takeover of Steem in the Spring of 2020. I believe hive is a lot more decentralised than Steem!
Why would some rural land with a barn cost more than a normal house?
I'm with you on wanting to do the permie. We wanted to for so long, but as for you, the money just wouldn't allow it. We could not get approved for a loan big enough and even if we could we would be hard-pressed to cover all our bills.
After years of saving up and trying, we decided to stop waiting to live our lives and start living now. Where we are with what we have. We rent a tiny flat, so we fall straight into the normzy strategy.
Would it be a hassle for you to rent out a home while going nomad? Here there are a lot of tax implications and responsibilities that might not make it as fun.
Is paying off the mortgage still a big part of your retirement plan? Maybe you could do a normzy and then sell and do the permie once you retire? Then you would have more time to do the fixing up.
Hi - you're basically thinking very much along the same lines as I am.... all of the things you mention are options.
As to the renting out and tax, I'm aware I'd probably need to -20% off the rental, but I think I could still cover the mortgage with that.
I've got a thing about paying off my mortgage asap... I want it killed off in total within 9 years max.
I get that mortgage thing - I'm the same. Even if some people claim it's not important math-wise, I would still want it gone the minute I got one.
The alternative of course is to bung a few thousand in long term investments and hope the return is better than the mortgage interest rate. Ring fence it as a mortgage pay-off fund.
I might do that and stick with the mortgage over a longer term. Will have to see how it goes!