These signify that we have refinanced our existing mortgages whilst adding to the pile the new home that is nearby to the farm. thus, we have financially indebted ourselves to the banks (and off farm income) for the next thirty years in the continued pursuit of “the dream”.
Being an adult is hard.
Being an adult with dreams is harder.
As per the last post, we needed to do something and make a choice.
The working theory was that building on Goodrock Park as we first wanted to do could place us in a precarious financial position that could foreseeably see us lose everything.
So, we made an offer pending finance on a home in Broadford … and with the unconditional approval finally coming through this week, we have paid the deposit for a hectare of land and will be making settlement (and thus moving) in October.
It’s a lovely home, nothing spectacular or Grand design worthy, but it is a “ready to move in and enjoy” property. The best part is that it is situated only 15 minutes drive away from Goodrock park.
This should mean that getting out to the property and getting things done should be a lot simpler.
Whilst choosing this path of purchasing a new property does not preclude the aforementioned financial risks, it does offer a level of risk mitigation in the form of multiple property security.
Delaying the emotional and financial entanglement that would come from tying ourselves to building on the farm also allows us to focus on the farm as a separate venture – making decisions that are based on the soil and productivity rather than lifestyle.