I have to admit to feeling a teeny stab of jealousy as I watched “I own Australia’s best home” season 1 on Netflix. After all, I lived in Oz for seven wonderful years and their weather is certainly better than my current abode (Ottawa, Canada), which is the 2nd coldest capital city (after Mongolia’s Ulan Bator).
But other than that, the idea that these homes represent anything other than a shameful, ghastly waste of talent, time, and money is, well, a sham.
Before I comment further, take a tour yourself: https://www.lifestyle.com.au/videos/tour-the-home-tropical-maze-federal-nsw-5109348949001.aspx
I wrote, Why You Should Treat Even Your Principal Residence as If it Was a Rental, https://profbruce.tumblr.com/post/153639912969/why-you-should-treat-even-your-principal-residence because I believe your assets should work for you rather than the other way round.
Now if you own that place in Byron Bay, it surely is you working really hard to pay for your ostentatious home and property.
OK, so why else don’t I like it?
I could go on, but you catch my drift.
You want to retire? Some day?
Not like this because, no matter how much you start with, if you lose money every year, you eventually run out.
When you brag that you own Australia’s best home, in fact, what you are actually saying is, “I own Australia’s worst home!”
Bruce M Firestone, B Eng (civil), M Eng-Sci, PhD
ROYAL LePAGE Performance Realty broker
Ottawa Senators founder
Real Estate Investment and Business coach
MAKING IMPOSSIBLE POSSIBLE
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