First week, little drama..
Well Iāve lost a bit of motivation for the blog already but seeing as how t was all about having a place to vent/voice my troubles then I suppose in some ways its not a bad thing. However, I donāt want to lose the habit already so Iāll make my second post almost a week after my first and as mentioned below, cover one of the four pressing issues of my life entering 2018. Iāll pick one of the lesser ones as I donāt have the motivation (or need) to write a big one atm.
Ā In that case, Iāll go.......house!
Ā So, my house is ok. No better. Itās fairly old, a decent size, cheap but a bit tatty. Iāve done a few things to it myself and had a few things done to it professionally. Due to the market and the area it hasnāt changed in value much. However, due to a bit of an inheritance when my dad died in 2009 I bought it on a 60% mortgage so by default thereās a fair bit of equity in the house.
Ā Recently Iāve started to become a bit unhappy with it. Itās a bit cold at times, the kitchen and bathroom have seen better days and thereās a fairly large utility area going to waste which could be massively improved upon. Due to the large deposit, my mortgage payments are quite low meaning should I want to improve the house I have a decent chance to get some capital by remortgaging and not to a massive financial detriment to myself.
Ā The three scenarios seem to be:
-Ā Ā Ā Ā Ā Ā Ā Ā Ā Remortgage to raise money tom improve the kitchen and/or bathroom and possibly the utility area.
-Ā Ā Ā Ā Ā Ā Ā Ā Ā Put up my mortgage payments on a shorter mortgage on a principle of financial responsibility and be mortgage free pre-50.
-Ā Ā Ā Ā Ā Ā Ā Ā Ā Leave it, be financially comfortable in a house I donāt love but donāt hate.
Now, rather unhelpfully, the ājobā and ārelationshipā bits of the equation come into play here and as I havenāt gone into those details as yet itās hard to go into a lot of detail for my choice of the options above! Anyway, my current decision (at least I can make one in regards to this bit of the big four!) is the third one. Make the best of the situation to give me flexibility around the other, possibly bigger calls.
Ā Not the juiciest post, but thereās more interesting stuff to come in the other three!