My fifth own home was really my own. I bought it. At the time I had little savings, but a great career in front of me and a good relationship with the bank. In my job I was responsible for the bank contacts.
So I called my Mum to ask if my parents could help. My Mum was a wise woman, but the breadwinner in the family was my Dad. At this point in time I had quite an infected relationship with him. However, my Mum told me that if I wanted help, I had to talk to my Dad. Ouch.
But I swallowed my pride and called him, and presented him with this opportunity of investing in an apartment, and that I would pay him back with interest. I got the money, which was about 25% of the price. The rest the bank generously provided. Well, generously and generously, on part of the loan I had to pay an interest rate of a whopping 16%. Thanks R for the advice, I have never forgotten!
The apartment was great though. Small with just a tiny hall, a bathroom you had to back into and walk out from, a long but narrow kitchen and a living room where I slept. I did however have a walk-in-closet!
I was on the top floor of a 5 floor building. No lift, no balcony, but a garden I shared with 25 neighbours, and with a washing room in the cellar.
It was a lot of fun in that building, and loadsa parties in the garden in the summer. I ended up being a member of the board, and we renovated all the pipes in the building. Because we did, people didn't have access to showers and toilets for weeks, so we invested in a sauna, two showers and two toilets in the basement, which I think to the day they still appreciate.
I wonder who lives there today, and if they still have the cupboard fronts I had painted into a light purple(!), the floor in the kitchen and how I designed the tiny bathroom at the pipe change.
Tuesday, February 28, 2012
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4 comments:
Um, what was that you were saying about never having any help from contacts? ;)
You're right, I had forgotten.
16%? You're welcome! Tried to be helpful. Never sell your car to a friend, nor give your wife advice on her golf swing. Just as bad:)
Like I said before, with friends like you, who needs enemies?
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