Maybe it was ment to be this way.....

[Jayro]

Well my wife and I have 2 IP's and our PPOR. We were not totally happy with our PPOR and desided we would move to a better place. My wife is currently on maternity leave and the only way we could do it was to sell our sydney IP. Our accountant did not agree with this move as he has always told us that this IP would be our retirement many yrs from now. Anyhow being impatient little sh#ts that we are, we put the sydney place on the market. The whole time we were in two minds about it all. Knowing not having the Sydney IP would put us back along way BUT really keen to get into a nicer PPOR.

ANyhow my wife and I are firm believers in "things happen for a reason" So after 2 months and many lower offers we finally had an offer that we considered reasonable. We accepted and began getting excited about our new home. However with 4hrs left on the cooling off the purchaser pulled the pin.

My wife and I have desided to pull the property off the market, put a few small dollars into our PPOR just to make our stay here a little more comfy and will look to move once she returns to work and at a time where we dont have to sell any of our IP's.

Who knows what the right thing to do is, and we were a little disappointed that the sale fell through, but hey maybe it was just a little birdy telling us that maybe our accountant was right and selling the place wasnt the right move for us.

I also read another thread regarding a member on here that lost a friend recently and it made me think I do need to enjoy life a little more. I am a tight *** and I do watch the budget with my wife off work etc BUT I feel like we are doing ok. So with a bit of this yrs tax return we are going to take our little new bubs (4 months old last week) and head to tassie for a bit of a holiday as we have an IP there that we have not yet seen and we love wineries and here they have a few so thats a little something to look forward to this yr.

Cheers Jas!

 

[Edmond Dantes]

Great. I agree with you in some parts

1) have a break and enjoy life as well. I do have a strict budget too but I think it's also good to reward yourself. I do that everytime a hit a milestone.

But I didn't agree with this comment:

Knowing not having the Sydney IP would put us back along way BUT really keen to get into a nicer PPOR.

It's more emotion then long term planning. Perhaps I would've have a break first then rethink about what I was planning to do.

Anyway, enjoy your well deserved break !

 

[BayView]

Well done for not falling into the trap.

Many investors buy the IP, make a bit of cap gain on it and sell it to pay out the PPoR and upgrade it to a better one; still with a debt on it.

Meanwhile, they have lost the combined time in the market of two properties.

Not saying it's wrong or bad, and it seems the smart way to go to improve the PPoR in a hurry, but many of these people end up not jumping in again, and they still have some PPoR debt from the upgrade.

Some people are just happy to wipe out the PPoR debt. That's great too. But I would suggest that all of us here have grander plans than that.

If you can do it so that the PPoR has no non-deductible debt left on it, and then use the increased equity for more IP's or other assets - that's a better strategy in my view.

When I bought my first PPoR, my then accountant said pay off the PPoR loan as soon as you can. Good advice, and I set about doing that - debt reduction. Very slow on my wages of the day.

Unfortunately he didn't tell me to go out and buy an IP or 3 to help accelerate the process - no doubt he didn't know about this little secret.

 

[Rolf Latham]

Things DO happen for a reason for sure !

ta
rolf

 

[craigb]

i think its all about the balance, i think i spend most of our time getting it right, do you scrimp on every thing for years trying to have it better in the future? or enjoy it a little!
how long does it take b4 the saving becomes endemic and we forget how to enjoy the fruits.
My wifes grandmother passed with 1/2 million in the bank what for?????
and put up with an iron and kettle that was realy dangerous for 20 years?
Getting the balance right seems to be the hardest judgement for me.

 

[INVSTOR]

Enjoy your trip in Tassie! There wines are superb. (and cheeses). If your budget allows I would try to spend 1 night at Cradle Mountain.

When your wife goes back to work could you purchase a better home and rent it for a couple of years. When/if property prices increase or your wages increase move into it. It all depends on your personal circumstances but I'm sure there is better solutions than selling a prime asset. Maybe you could rent for a couple of years also. Anyway, enjoy your break, I'm sure it will all become clearer when you give your head a break.