Hi all! Before I start I'd like to just say that MJ's books changed my life and personality and I'm forever grateful for that.
I live in Poland (Europe), I'm 28 and I've recently launched a business after 10 months of preparation. Simultaneously I work full-time, but it's to soon for me to quit since I don't have sales yet, and I can work on my business during my 9-5 job, plus it provides me with cash which I can put directly into this investment. With my wife, we rent small apartament (33sq meters = 355 sq ft), and we were thinking about buying a house.
Pros? We could rest more effectively, have some yard to chill, we could have a dog and have some more space. Cons? We would have to take a mortgage for this endeavour + I assume that since a house is a liability, our daily living costs would increase (heating, commute, there is always something to buy or fix, etc.)
Let me just bring up our cash flow - we don't have any debt and liabilities, we don't have nor plan to have children. We have around $65 000 in cash, since we save bigger part of our salaries. We earn monthly around $3000/each after tax ($6000 in total). Now we're paying $420 for rent and utilities. If we decided to buy a house we would spend around $200 000 - $220 000 for that, taking a mortgage for 15 years, paying monthly for that around $1000 in total + utilities.
I read UNSCRIPTED recently for the third time just to look for the answers on this problem. I wonder if having a mortgage is in the slowlane basket, even if it doesn't drain you completely from your money. Of course having debt is bad, however MJ always says about pragmatism and not being a prisoner in your own life being too thrifty. I've never taken any loan or even leased a car and I'm simply afraid of doing so, but maybe it may benefit me overall. There are no etrepreneur minds in my real life, unfortunately, and I really can't listen to the slowlaners and their shitty advices anymore on that topic.
So, what would you do?
I live in Poland (Europe), I'm 28 and I've recently launched a business after 10 months of preparation. Simultaneously I work full-time, but it's to soon for me to quit since I don't have sales yet, and I can work on my business during my 9-5 job, plus it provides me with cash which I can put directly into this investment. With my wife, we rent small apartament (33sq meters = 355 sq ft), and we were thinking about buying a house.
Pros? We could rest more effectively, have some yard to chill, we could have a dog and have some more space. Cons? We would have to take a mortgage for this endeavour + I assume that since a house is a liability, our daily living costs would increase (heating, commute, there is always something to buy or fix, etc.)
Let me just bring up our cash flow - we don't have any debt and liabilities, we don't have nor plan to have children. We have around $65 000 in cash, since we save bigger part of our salaries. We earn monthly around $3000/each after tax ($6000 in total). Now we're paying $420 for rent and utilities. If we decided to buy a house we would spend around $200 000 - $220 000 for that, taking a mortgage for 15 years, paying monthly for that around $1000 in total + utilities.
I read UNSCRIPTED recently for the third time just to look for the answers on this problem. I wonder if having a mortgage is in the slowlane basket, even if it doesn't drain you completely from your money. Of course having debt is bad, however MJ always says about pragmatism and not being a prisoner in your own life being too thrifty. I've never taken any loan or even leased a car and I'm simply afraid of doing so, but maybe it may benefit me overall. There are no etrepreneur minds in my real life, unfortunately, and I really can't listen to the slowlaners and their shitty advices anymore on that topic.
So, what would you do?
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