Business Week #50 - Just a flat

Credit is the money you borrow from a future yourself

We are considering buying a small flat in the neighborhood for office purposes. Right now I am working in my home office in our very tiny bedroom and my wife has no space in our flat to tutor children. The idea is simple - we want to buy a small flat (~40m2) with 2 separate bedrooms, a small kitchen and a toilet which we can convert for our office. One bedroom will become my office while the second one will become the office space for my wife. We want the flat to be placed in the range of 10-minute walk from our flat.

However, there is a catch. We need to take a mortgage to be able to purchase it, and what is more, thanks to my recent job change which resulted in significant raise... we are not so welcome in the bank because the history of work is changing too often recently 😬

Still, we see some options and we reached a moment when we need to start taking it seriously - should we start filling out the paperwork or resign from the investment and keep the money for now limiting our earning options? This is (again) one of the life decisions - not as simple as buying a TV or going on holiday.

If we buy this flat we shut down the door for options like buying some land to build a house in the next 10 years and this is something we're constantly thinking about. We'll have the second mortgage to be paid sooner or later. On the other hand - we'll have a place to work and anytime we can also rent it if needed.

So yeah, pretty tough decision to make, especially in the very unstable post-pandemic, a near-to-the-war environment of the crisis that is just around the corner.

Let's see what the next week brings. We are planning to watch one more flat. Maybe it will clarify some things.

⏳ Time spent: 180 minutes (75%)

Plan for week #51

Finish initial overview of the flats for the office and make some decisions.