Because I'm bl**dy well worth it!

hypno06

Thank you guys - this is something that will last for ever - I wear a watch every day, so it is not something that is going to sit in a drawer either because I am too scared to wear it, or because it is not something I need on a daily basis. So cost per day over its lifetime will probably be no different to many other watches that I have owned in the past that haven't lasted very long.

In any event, like I say, it was a purchase for many reasons. I would have felt guilty if it were a knee jerk reaction to something - eg if I had bought it early on in the processes, or for something that was not a lasting asset. But this is different. And I feel very comfortable with it.

So.....last night I was the guest of my ex-employees for their Christmas bash. A very MSE night out as no cost to me, and was even given a lift there and back so no taxi costs either. Therefore the cash I would have spent on the taxi will go straight to the CC for the watch.

Pondering-wise.....more will come in the course of the day....

hypno06

So....ponderings continue.

Firstly - my house. Seen as an asset, a liability, and a home.

As an asset - I have no intention of moving from there in the foreseeable future. I have equity of about 20% and paid a realistic price for it when I moved in 12 months ago. House prices have remained stable where we are in that time, and although they can, of course, fall.....I am not unduly concerned, although it is not something I will forget about and pretend cannot affect me in some way.

It is on a repayment mortgage, so the "asset" part of it does increase each month. In addition, I pay a further £60 per month as an overpayment - not much, but that is £720 a year that is belonging to me rather than to the Halifax.

As a liability - well, of course, by having equity of 20%, that means I have a freakin great mortgage for the other 80%. At the end of the day it is debt. Good debt in some eyes, but debt all the same that I have the responsibility to service without fail each month. My minimum payment to the mortgage without the overpayment is £1176. That is a lot of money for a single person in anyone's book.

The mortgage was taken out on a 10 year fixed rate in 2003 when we bought our previous "family" home, and I ported it, in my sole name, when I moved, as not only were the penalties significant for early redemption, but actually, the fixed rate is comparable to those on offer at the time I moved, so it was the best way of doing things.

I only have, though, 18 months left before I have to either revert to the SVR or to look for an alternative, whether another fix, or offset etc. With only 20% equity in the house, I won't get the best range of offers, and therefore I need to try and increase this over the next year and a half. That will happen by one of two ways - either I pay off more of the capital, or house prices increase. I don't foresee house prices increasing significantly in that time, so I need to consider paying a little more if I can each month.

Of course, if house prices fall, my % equity falls, which is why it cannot be something that I assume doesn't affect me.....but that is something I cannot control and will deal with it and the sums that accompany it at the time as needed.

Maintenance wise - it is a new build town house - low maintenance, communal gardens, builders still on site for any issues that arise, etc etc etc. It is a cost effective place to be living, with no worries about work that needs doing, kitchens that need replacing etc.

As a home - well, this is perhaps the most important element. We feel comfortable here - it is a very happy, low stress household, which for someone with a 16 and 17 year old under the same roof is actually an achievement!! We have been there a year next week, and love our space, but have not done anything "with" it since we moved. I am now feeling that we have lived it enough to start knowing what we want from it, if that makes sense. As a result, I have my photos at the framers ready to hang over Christmas, and will be looking to paint at least one room before the end of January and moving furniture (either moving it around, or moving it out) to suit. No major changes are needed, because we did get rid of most surplus stuff when we moved.....but there are some things that I thought I wanted to keep, and having been there and lived it, I now realise I don't.

Costwise, there is not a great deal, therefore, but even paint, brushes, and "bits and pieces" will add up, so I cannot afford to rush in. Every decision will be on the basis that it feels right - hence the year of living there first. I am looking forward to it all, and think that by this time next year, there will be some subtle changes that will make a lovely home even lovelier.

Karmacat

Hypno, this is great. Lovely pondering - liabilities and growing assets, tweaking the space, taking care of the future, enjoying the present. Love it.

hypno06

boredofbeingathome wrote: »

OOh i want to see piccies as well:-)

shh....don't tell anyone!!

purpleruby

Afternoon Hypno just checking in to see how things are going.

Wow can I see a pic of the watch too. I love watches and own several and I have a "dream" watch that one day I will treat myself too . I think with all you have been through over these years you deserve every penny of that watch.

I agree about living in your home before making changes too. I have been in my years just over two years and I now feel it is our home and I am ready emotionally and in so many other ways to start making it even more mine. I have only done DD room since I have been there so my plan for the new year is to do my bedroom :T

hypno06

Hi purps

I think my bedroom would be the easiest to do, because there are no pictures to re-locate etc - everything in there is new since moving in, and due to the shape of the room there is no real alternative location for the furniture, so it really would be a case of just moving stuff into the middle, taking stuff off the wall and the curtains down, painting the walls and putting everything back exactly where it started. Skirtings and ceilings don't need doing, thankfully.

But I also want to do the lounge sooner rather than later - that needs a little more work, because there is furniture to move out, I want blinds rather than my curtains, and there will be bits of polyfilling etc as I move pictures. Also, I have the oldest biggest tv in the world and wouldn't mind a sleek version....thereby sending the cost of decorating that room sky high

The kitchen will be fiddly but again should just be painting and putting back whatever I have moved to the same place.

So, I think it will be bedroom first....that I can do in a weekend.

Then kitchen - that I will likely get somebody in to do. I have a couple of odd job guys who have done a lot of work for me over the last 2 years who will happily paint for me.

Then if I get a bonus in May.......I can do the lounge, including bringing my TV into the 21st century.

DD likes her room magnolia.....which puts her close to the bottom of the list. And DS....well, I can't even get into his room, so he is way off the radar, decorating wise :rotfl:

redsquirrel80

Ooh that's nice Lovely to see you making positive choices about the future, really lovely.

MatyMoo

When my parents split up there was a big battle over maintenance. During a visit to the solicitor Mum was told if she had any money anywhere she was to spend it. She had £500, came out of the solicitors & looked in the jewellers window and spotted a three diamond ring for £500 that she adored (never had diamonds in her life!), walked across to the bank, withdrew the money and bought it. Along the years my sister lived in the middle east and bought her a full hoop diamond eternity ring to match it.

When Mum died she had 3 daughters and 3 grand daughters and we didn't know what to do with the two rings. We found a friendly jeweller who broke them down and, with my nieces input, designed three new rings for us, the plan being that the daughters would each have one and then pass them on to the grand daughters when we went. When these were ready we presented them straight to my nieces with the valuations - £7.5k in total!

This is a very long winded way of me saying you deserve to buy something that you love. Who knows, it may appreciate in value too - my OH's watch has in the 10 years he has had it

MrsMoo2U

Oh how lovely......... shhhh I wont say another word

hypno06

I know it is still new - but I really do love it

And I am worth it.

And I have hidden the CC away, so it cannot be used for anything else.

And, well, what the heck. I am not justifying it - I don't need to