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LeelaCosgrove
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I know what you mean …

When we decided to buy our first place, we bought a crappy little two bedroom apartment in the Western Suburbs … it was NOT our dream home … but it allowed us to get into the market at a reasonable price that didn’t kill our bank account … in the last 5 years the apartment has doubled in value and has managed to hold it’s value despite the sliding economy (we bought in an area we knew would boom).

By NOT going with our ‘dream home’ straight up, we’ve been able to build some excellent equity, develop a great asset and with the falling interest rates, the apartment (now rented out) is making us a profit on a monthly basis.

We STILL haven’t bought our dream home … step by step, I say. But we KNOW what we’re working towards – we’re building our property portfolio as part of our plan for financial freedom – so we deal with living in imperfect places …

And it will ALL be worth it in a few years time when we can not only afford to buy our dream home, but also can afford to enjoy it, without the stress of whether we can afford the repayments when the economy bounces back …