Moving on to part 4

Very nice once again, thank you!

Nicely done
Step by step

Liking this series mate

Nice

Very nice video

Scarves UP Posted at 10-14 12:22
Very nice once again, thank you!

Thanks a lot!

ckat007 Posted at 10-14 13:11
Nicely done
Step by step

Thanks CK!
Indeed.
Lot of labor

A J Posted at 10-14 13:40
Liking this series mate

Thanks AJ.
A lot of love and care went into this one.

Montfrooij Posted at 10-14 22:34
Thanks AJ.
A lot of love and care went into this one.

I can see why mate - nicely done

Woe Posted at 10-14 19:16
Nice

Thanks a lot!

Suren Posted at 10-14 22:00
Very nice video

Thanks man!

Montfrooij Posted at 10-14 22:45
Thanks man!

A J Posted at 10-14 22:36
I can see why mate - nicely done

Just spoke to the owner, they are about to finish the heating system so the project finally reaches the start of the 'move in ready' state.

Montfrooij Posted at 10-14 23:15
Just spoke to the owner, they are about to finish the heating system so the project finally reaches the start of the 'move in ready' state.

Cool - its great to see a property being built to your liking

A J Posted at 10-14 23:27
Cool - its great to see a property being built to your liking

They chose the 'hand labor' way.
Takes more time.
But worth it.

Montfrooij Posted at 10-14 23:29
They chose the 'hand labor' way.
Takes more time.
But worth it.

My wife wants to buy a house needing renovation and to do it ourselves - you will make far more money on it when complete - if you can handle living in .... for 6-12 months lol

A J Posted at 10-14 23:31
My wife wants to buy a house needing renovation and to do it ourselves - you will make far more money on it when complete - if you can handle living in .... for 6-12 months lol

My sister just started such a project.
Make it 6 years .....

Montfrooij Posted at 10-14 23:32
My sister just started such a project.
Make it 6 years .....

Wow - thats a huge project but I bet it will be amazing once complete

A J Posted at 10-14 23:37
Wow - thats a huge project but I bet it will be amazing once complete

It is.
And one I'm glad not to be in the middle of.

Helping them out when I have some spare time.
But man, what a huge amount of work this is.

Montfrooij Posted at 10-14 23:40
It is.
And one I'm glad not to be in the middle of.

Beyond me mate - I couldn't live like that - even for the value of the property ending up two to three times what I paid. I like my creature comforts and I can just about change a light bulb lol

A J Posted at 10-14 23:45
Beyond me mate - I couldn't live like that - even for the value of the property ending up two to three times what I paid. I like my creature comforts and I can just about change a light bulb lol

Hahahahahaha.
We chose the 'step by step' approach.
So it will take a lot of time, but we have long breaks between the projects so that life can go on almost without issues.

Montfrooij Posted at 10-14 23:55
Hahahahahaha.
We chose the 'step by step' approach.
So it will take a lot of time, but we have long breaks between the projects so that life can go on almost without issues.

Sensible planning mate

A J Posted at 10-15 00:05
Sensible planning mate

And we did not want to borrow any more to do the rebuilding.
So saving first, spending later.

Montfrooij Posted at 10-15 00:09
And we did not want to borrow any more to do the rebuilding.
So saving first, spending later.

Very wise mate - I've seen many people over spend on renovation projects and almost reach a point where they cant borrow anymore and have to sell it at a loss (I was an Area Bank Manager in a former life)

A J Posted at 10-15 00:12
Very wise mate - I've seen many people over spend on renovation projects and almost reach a point where they cant borrow anymore and have to sell it at a loss (I was an Area Bank Manager in a former life)

When we bought our first home the bank guy that gave us the mortgage was looking weird when we told we did not want to borrow more than x amount.
"But with your income and the outlook you have as young professionals you can borrow 50% more"
We know. But we still want to live and possibly have children (so one of us is going to work less)....
He clearly did not understand we did not want to become slaves of our possession.

Montfrooij Posted at 10-15 00:16
When we bought our first home the bank guy that gave us the mortgage was looking weird when we told we did not want to borrow more than x amount.
"But with your income and the outlook you have as young professionals you can borrow 50% more"
We know. But we still want to live and possibly have children (so one of us is going to work less)....

Classic - mortgage Advisors notoriously push the envelope to buyers - the bigger the mortgage, the higher the commission in their own back pocket and back in the day if you defaulted on three payments they repossessed the property, evicted you upon declaring you bankrupt and the loss was speculated on the markets - so the banks made a fortune but it was not sustainable lending 120% of someones salary and led to the 2008 crash. Sadly, that is nothing compared to the global recessions we are seeing now due to Covid

A J Posted at 10-15 00:24
Classic - mortgage Advisors notoriously push the envelope to buyers - the bigger the mortgage, the higher the commission in their own back pocket and back in the day if you defaulted on three payments they repossessed the property, evicted you upon declaring you bankrupt and the loss was speculated on the markets - so the banks made a fortune but it was not sustainable lending 120% of someones salary and led to the 2008 crash. Sadly, that is nothing compared to the global recessions we are seeing now due to Covid

Very much like that.
And indeed. Nothing like what we are about to experience.

Montfrooij Posted at 10-15 00:29
Very much like that.
And indeed. Nothing like what we are about to experience.

If you have a mortgage now is the time to fix the interest for as long as possible mate

A J Posted at 10-15 00:53
If you have a mortgage now is the time to fix the interest for as long as possible mate

We did that when we moved to our new house.,
Not the lowest possible, but for us it works 2 ways, since we have a 'savings' mortgage that in essence is a savings account too where you get the same interest as you pay on your loan and you use that after the mortgage is ended to pay it off.
That one now starts to add up because we get 2.75% interest (equals about € 80,- per month and growing by the month because we also make a mandatory monthly deposit as well )

Montfrooij Posted at 10-15 00:58
We did that when we moved to our new house.,
Not the lowest possible, but for us it works 2 ways, since we have a 'savings' mortgage that in essence is a savings account too where you get the same interest as you pay on your loan and you use that after the mortgage is ended to pay it off.
That one now starts to add up because we get 2.75% interest (equals about € 80,- per month and growing by the month because we also make a mandatory monthly deposit as well )

I remember that product - you chose very well mate. Variable rates are going to see quite a number lose their homes. It amazes me how mortgage planning is not in the education syllabus as it is so critical to so many in the real world. I've had Doctors sat in front of me being declined as they didn't have a clue about finance.

A J Posted at 10-15 01:01
I remember that product - you chose very well mate. Variable rates are going to see quite a number lose their homes. It amazes me how mortgage planning is not in the education syllabus as it is so critical to so many in the real world. I've had Doctors sat in front of me being declined as they didn't have a clue about finance.

It is basic math I think.
This is (by far) the best mortgage for us. We can pay our interest and deposit and pay off our loan without noticing it.

But there is an element of 'risk management' involved and I like to stay on the safe side of that.
I won't get the best deal financially, but I know I'm good and it is stable.

Montfrooij Posted at 10-15 01:18
It is basic math I think.
This is (by far) the best mortgage for us. We can pay our interest and deposit and pay off our loan without noticing it.

I am incredibly risk adverse when out comes to finance mate. Probably due to seeing how debt can literally destroy lives.

A J Posted at 10-15 01:28
I am incredibly risk adverse when out comes to finance mate. Probably due to seeing how debt can literally destroy lives.

Me too.
Except for when it comes to gadgets
(not using a loan or anything of course)

Montfrooij Posted at 10-15 01:34
Me too.
Except for when it comes to gadgets
(not using a loan or anything of course)

Oh yeah, luxury watches and drones are my weakness but always with my own money

A J Posted at 10-15 01:44
Oh yeah, luxury watches and drones are my weakness but always with my own money

Own...
That is the keyword.
Many seem to replace that with 'lown'

Montfrooij Posted at 10-15 01:45
Own...
That is the keyword.
Many seem to replace that with 'lown'

Hahahahaha - imagine if I still owed several hundred quid on a loan with that crash. Never, ever buy a drone with finance.

As my Grandfather said - if you cant afford it, don't buy it!

A J Posted at 10-15 01:48
Hahahahaha - imagine if I still owed several hundred quid on a loan with that crash. Never, ever buy a drone with finance.

Indeed.
The only 3 things I ever borrowed money for were my study and our houses

A J Posted at 10-15 01:50
As my Grandfather said - if you cant afford it, don't buy it!

Well spoken!