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/u/No_Growth_1781
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I am a 30-year-old homeowner of a house built on a relatively small plot of land (500 square meters) in a prestigious area just 4 km from Cracow's Main Square in Poland. In addition to my house, I own rental properties (flats) that provide a passive income of approximately 5% ROI.
I am presented with a unique opportunity to purchase the land adjacent to my house, effectively doubling the total land size to 1100 square meters. However, due to the prime location, the cost is high. To finance this purchase, I would need to sell two of my flats, leaving me with only one flat and significantly reducing the passive income I have worked hard to build over the years.
Based on my current income, it would take me 5 years to recoup the financial impact of this decision, assuming that the ratio of my income to flat prices remains unchanged.
While the idea of having a larger garden and space for family gatherings is appealing to me, I am struggling to come to terms with the risk involved. I worry that I may never be able to rebuild my passive income if my salary decreases or if flat prices increase significantly.
I find myself at a crossroads, torn between my dream of expanding my property and the fear of jeopardizing my financial stability. I would greatly appreciate any advice on how to approach this dilemma.
submitted by /u/No_Growth_1781
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Rental properties or larger backyard?
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I am presented with a unique opportunity to purchase the land adjacent to my house, effectively doubling the total land size to 1100 square meters. However, due to the prime location, the cost is high. To finance this purchase, I would need to sell two of my flats, leaving me with only one flat and significantly reducing the passive income I have worked hard to build over the years.
Based on my current income, it would take me 5 years to recoup the financial impact of this decision, assuming that the ratio of my income to flat prices remains unchanged.
While the idea of having a larger garden and space for family gatherings is appealing to me, I am struggling to come to terms with the risk involved. I worry that I may never be able to rebuild my passive income if my salary decreases or if flat prices increase significantly.
I find myself at a crossroads, torn between my dream of expanding my property and the fear of jeopardizing my financial stability. I would greatly appreciate any advice on how to approach this dilemma.
submitted by /u/No_Growth_1781
[link] [comments]
Rental properties or larger backyard?
Continue reading...