House finally sold what a jeorney !Sheesh!

i envisaged building my ppor , we purchased one of the old burnt out blocks in chapman canberra after the fires , we purchased it for $450k UCV 460 ish and the block size is close to 1800m2 views to belconnen and the city, i have been building this home for 5 years it was one of those grand desighn type of jeorneys, the home is now 700m2 6 car garage and done and dusted for 1.5m, i sheeted , plastered , framed trussed, preped the steel works for the concreters , ran wires and fitted off the wet areas , built the kitchen , rendered , roofed , tiled ,built a pool ,paved painted , well just about every thing, the ucv is now at 700k and the exchange has gone throgh this week ,
47,000 bricks in this home , and 15,000 in the garden i laid m,self.
went through a buisiness partner on the way, done the GFC, and have now seen a war and two sonamies , the share markets have gone up and down twice now, we sold due to the mortgage p/ments costing me 7k + a month, alot of months have gone by and every single one of them was tight and stressfull, every one, so the results are we will move and now own our home , start the IP portfolio, free of personal debt with a combined income of 240k PA, beetween my wife and i, the debt relese is great, would have loved to stay here , but by steping back " one step" it will allow us now to actually leap forward.
This was a massive massive home we loved it and we will always look back and admire the challanges , some on here have seen it , and now its gone,:)
 
in a way both sad to see it go, and happy to see it go its hard to explain , about 500k but the cost was 5 years of every spare hour of my life during that time , thems were hard times, ??
BUT! i will be very disapointed if i don't make twice that in the next 5 years ,with half the effort , you know the saying money breeds money?
 
in a way both sad to see it go, and happy to see it go its hard to explain , about 500k but the cost was 5 years of every spare hour of my life during that time ,
That's not bad for 5 years work,now the trick is too turn the 500k into i.5 mil,with the last 5 years of experience it should not be a problem..
 
That's fantastic craig.

With the profits, and as willair said, the last 5 years experience behind you, you should do well in the future.

I reckon the best bit though, has got to be, that the ato doesn't get a cut of your profit.
 
great work Craig and congrats on the tax free profit.
Our PPOR is our greatest asset so why not do this again?
 
Wow Craig, that's an amazing story so far. I couldn't imagine planning a home that big at the age you did, incredible stuff. Good luck for the next chapter, will be a lot easier growing without that huge interest bill.

Gools

p.s. You broke my number one rule for selling a house with a nice garage/shed, we want to see photos of the man cave!!
 
Congratulations mate!

I say this because it is a steppingstone forward and not a bad one. We all need to make sacrifices at times and sacrifice to have a PPOR outright is a pretty cool one which 90% of people dont get to after 40yrs of working.

Good stuff.
 
Congratulations, Craig for reaping the benefits of your labour on your PPOR. It was a palatial layout! I am sure your next PPOR will be just as grand!
 
thanks guys , my next "grand desighn " is planed to be Roughly 2,000m2 of living 20 garages ,and over 10,000m2 of land ,the mortgage should be about $4,000 per month cost to me , AHhhh thats better numbers ,I want so let the waters clear a bit and thats my next target ,???
 
thanks guys , my next "grand desighn " is planed to be Roughly 2,000m2 of living 20 garages ,and over 10,000m2 of land ,the mortgage should be about $4,000 per month cost to me , AHhhh thats better numbers ,I want so let the waters clear a bit and thats my next target ,???

I wish you all the best for this plan. I love big open spaces too. I look forward to your updates on this journey. Make sure you get this on the Grand Designs show which I love. ;)
 
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