Buying a House in this Market is Lunacy

Instead, I’ve got a better idea

Jordan Fraser
Money Clip


Photo by Yosh Ginsu on Unsplash

To say I’ve been stressing out over money the past month would be an understatement, but not for the reasons you may expect.

About a month ago I achieved my ultimate dream, after roughly a decade of aggressively paying it down, I paid off the mortgage on my investment property and finalised my battle with the bank. As someone that was brought up surrounded by debt and very little free cash, I figured out early that debt was my enemy.

Somewhere in New Zealand there’s a little four bedroom house in that I rent out to a charming local family that’s now free and clear of the bank’s clutches, and that’s where the problem began.

A mortgage was never any stress to me, I know how to pay down a loan. I’m extremely aggressive, and see any type of loan as a war with who or whatever has lent the money. I don’t feel stressed when I have a goal and a clearly defined target because I’m a tactician (in the financial sense only), but let me wander around aimlessly and I’ll perish.

Once the mortgage was finished I was lost. I had a paid off asset that produced a tidy monthly revenue and no idea what to do next. I knew that the next logical step was to buy the next investment property, but it didn’t feel right.