So, I just Bought our Dream House for 900 000 USD | Hacked: Hacking Finance
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So, I just Bought our Dream House for 900 000 USD

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So, I just Bought our Dream House for 900 000 USD

Introduction

This article was posted on Tuesday, 19:40, UTC.

As most of you know, my wife and I got a daughter in April. We currently live in an apartment on the east side of Oslo. It is a 68 square meter apartment with two bedrooms and one living room with an open kitchen solution. We have lived there for the last four years, and it has done wonders to us. It lays next to the underground station with just 30 minutes to the city center.

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Since I got a job at the west side of Oslo, I’ve been using 45+ minutes each day to my “regular job”. It is near the limit of what I want to spend on travel to work (approx. one hour and 30 minutes each day, it adds up..) With the new house, I will spend less than 20 minutes which will save both time and energy on a daily basis.

The apartment we now got is on the 4th floor, with no elevator, making it quite a hassle to move up and down with a newborn baby. And most important: I do not have an office (which kind of drives me crazy right now).

The new house went way above the initial asking price (unfortunately). Even in a market that is expected to decline in the coming three years (Oslo, Norway). But I couldn’t let that house pass as it is the house of our dreams. Even though, as an investment choice, it might be a bad decision, but as a choice for our next 10 to 20 years, it was the correct decision (I can feel it!). I don’t care if we lose some money on it.

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We are taking out the largest mortgage we could (also a bad decision for most), but with my current investment- and business plan, including income from our regular jobs, I believe we can manage just fine. My wife is a lawyer working for an insurance company in Oslo, it’s a stable position. Including the position I got in a shipping company.

I do not know if you should “learn” anything from this post, other than it is not just black and white. Good investments can still be bad financial wise, but good for you and your family. You have to weigh up both, or more, factors. Then in the end, you have to be able to live the life you want to live. Money isn’t everything.

Please let me know your thoughts in the comment below. Was this a huge mistake, or do you salute the purchase?

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And: Do let me know if you are in Oslo anytime from August and onwards, maybe I can invite you to a few drinks and we can discuss financial freedom IRL.

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



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Jonas Borchgrevink

Jonas Borchgrevink

Founder of Hacked.com and CryptoCoinsNews

Comments
  • user

    AUTHOR Jeremi Fisher

    Posted on 7:43 pm June 13, 2017.

    Congrats Jonas!

    • user

      AUTHOR Jonas Borchgrevink

      Posted on 8:19 pm June 13, 2017.

      Thank you Jeremi πŸ™‚

    • user

      AUTHOR rtacconi

      Posted on 9:09 pm June 13, 2017.

      I completely agree with you, it is a dream house and it will give happiness to you and your family. Investments are meant to help us to reach financial stability and make our dreams become true.

    • user

      AUTHOR luis ivan poblete

      Posted on 1:47 am June 16, 2017.

      Life is Short. You did the right thing. My opinion as a Realtor Broker IN Washington DC Maryland and Virginia

  • user

    AUTHOR SlavDaddy

    Posted on 7:45 pm June 13, 2017.

    Beautiful house Jonas, wish you all the best in the years to come! πŸ™‚

  • user

    AUTHOR samohtelcamer

    Posted on 7:46 pm June 13, 2017.

    Hi Jonas! Congratulations for your new house… I wish you and your family the best of the best!!! I am deeply convince you have made the right choice. I have also bought a house two years ago, it represented a HUGE investment but it really worth it. There is a lot of work to do it that house but it will be finally ready to welcome my wife and our futur baby!!!
    Well done, once again! (btw, if you want to see my house, the work and the steps that have been made, hit me up!!!)

  • user

    AUTHOR paracetomol

    Posted on 7:46 pm June 13, 2017.

    Congratulations Jonas – looks like a great place and I wish you and your family all the best.

  • user

    AUTHOR dgimness

    Posted on 7:47 pm June 13, 2017.

    Nice place Jonas! Congrats! Housing prices will just keep going up and up IMO! I need to buy a house as well ASAP.

    Great having your own office. No fun to have an office in the living room with no door to close. : (

  • user

    AUTHOR wasabi

    Posted on 7:53 pm June 13, 2017.

    Hi Jonas ! I wish u the best and happy for u n yr fmly to have this dream house.

    U deserve it. Praise God.

    Thank U for yr excellent service towards us all yr clients.

    We highly appreciate it.

    Rgds…frm CHILE

  • user

    AUTHOR JoshLian

    Posted on 7:54 pm June 13, 2017.

    I like your new house! Modern, spacious and surrounded by a beautiful nature. I am an architect and a real estate developer in San Francisco, US. πŸ™‚

  • user

    AUTHOR corporate_citizen

    Posted on 8:02 pm June 13, 2017.

    No worries. You’ll pay that house off in ten-years with less than 10 Bitcoins.. :))

  • user

    AUTHOR St3fk0

    Posted on 8:07 pm June 13, 2017.

    Congrats! Beautiful house.

  • user

    AUTHOR dakleyer

    Posted on 8:14 pm June 13, 2017.

    Can I ask how old are you Jonas?

    You really helped me a lot with your blog and “opened my eyes”.

    But I disagree with the core of some of your points of view. Like some investors in Cryptocurrencies I believe the finantial system is about to collapse in our life time and we have to make some investments according to this:

    For me, the most important is time with everything that is not going to last like my own family-children, but also the nature and culture that is going to disappear (because climate change and new economic systems)

    For me, a house is not a great investment because I prefer to rent and live on different places and it is very nice to travel with my family, so I try to adapt my job to this (IΒ΄m a consultant)

    • user

      AUTHOR Jonas Borchgrevink

      Posted on 8:26 pm June 13, 2017.

      Hello Dakleyer,

      I do agree with you. I also believe we will have huge problems in the years to come, both with climate change and automation of job tasks. I also agree that this wasn’t a good investment choice as I wrote in the post. So we are in perfect sync when it comes to that. On the other hand, I have to prioritize my family and what’s best for them at this point in our life and social setting. Norway is still one of the most “stable” countries on earth, so the drastic changes might appear in other countries first. I do have an investment plan that I’m sticking with, and a business plan to increase my income.

      BTW: I’m 26.

  • user

    AUTHOR Msodenkamp

    Posted on 8:18 pm June 13, 2017.

    Very impressive – congratulations !!!

  • user

    AUTHOR johnnyquid

    Posted on 8:22 pm June 13, 2017.

    Having a home is always nice. I have to say though it is way overpriced. Almost a million, damn. ….Being happy is important but you also should be getting what you paid for. Plus a mortgage? Damn bankers…How much land did you get? I’m not beating you down. By no means. But that is a sour deal

    • user

      AUTHOR Jonas Borchgrevink

      Posted on 8:31 pm June 13, 2017.

      It’s kind of stiff pricing in the Oslo area.. 600 square meters. I totally agree with you, too much! But I’m still happy ;P

  • user

    AUTHOR GhostCap

    Posted on 8:33 pm June 13, 2017.

    Congratulations! Huge Milestone. Very cool.

  • Congratulations Jonas. Not every purchase decision can be solely based on objective calculation or potential ROI. In the end, we can’t take our assets with us when we die. Objective reasoning balanced with some indulgence, that is, it lets us be human. The great memories your family will create in your new dream home, that alone is priceless.

  • user

    AUTHOR Sfinance1966

    Posted on 8:50 pm June 13, 2017.

    I am about to do exactly the same, massive mortgage, hitting my crypto investments for a dream home by the sea, even has a ramp to let boats into the sea. Β£650K.
    Money can be a tool to find happiness but will not buy happiness.

  • user

    AUTHOR gullyfoyle

    Posted on 8:50 pm June 13, 2017.

    Jonas congratulations, purchased a place myself last year. Finally feels like a home after renovation and no end of drama. Now we’re looking to sell it for a tiny profit and buy something more appropriate and locking a mortgage for 20 years. I’m certain a decline is coming but with that kind of stability it’s worth the risk. After all you need somewhere to live.

    • user

      AUTHOR Jonas Borchgrevink

      Posted on 10:36 pm June 13, 2017.

      Yes, and as long as you have a long horizon and don’t need to capitilize your home, it will be a positive thing.

  • user

    AUTHOR hollyjoykersh

    Posted on 8:58 pm June 13, 2017.

    Congratulations Jonas! Sometimes the house chooses you! It will be a beautiful home for your family and an incentive to strive for greatness. Thanks for all your advice.

  • user

    AUTHOR Prateek

    Posted on 9:08 pm June 13, 2017.

    Congrats Jonas ! Beautiful house, Good decision one has to take for family and your financial wisdom will easily pay off the related mortgage. All the best πŸ™‚

  • user

    AUTHOR wootrain11

    Posted on 9:16 pm June 13, 2017.

    Very nice post. Enjoyed reading about your positive direction with you and your family. All the best! I am a new subscriber and am glad to be a part of it.

  • user

    AUTHOR ishturman

    Posted on 9:38 pm June 13, 2017.

    Congrats, from Mexico.

  • user

    AUTHOR danielray

    Posted on 9:44 pm June 13, 2017.

    Nice house, I think the most important thing is that is near the forest. I would love to live in such a place. Hopefully after some hard learned lessons and couple of hundreds of thousands lost, I will regain and buy a similar home near Bucharest, my home city. You example is very important. It reminds me that money is not everything and that quality of life is worth the higher price. Thank you !

    • user

      AUTHOR Jonas Borchgrevink

      Posted on 10:39 pm June 13, 2017.

      Hello Daniel, really glad that I’m able to give you something of value. And thank you for your comment.

  • user

    AUTHOR WalterSobchak

    Posted on 9:48 pm June 13, 2017.

    Beautiful house Jonas, congratulations for you and your family.

  • user

    AUTHOR ltummers

    Posted on 10:53 pm June 13, 2017.

    IMHO what would be a better investment than a house to enjoy with your kids and love?
    No crypto / stock or business in the world. Remember why do we do trade at the bottom line? We want to set us free and be financially independent for the future to come. No big bankaccount or 10000 BTC will bring you love & smiles on your kids face. Maybe it’s a cliche but many people forget basic life principles. I wish you all the best in your great new home Jonas πŸ™‚

  • user

    AUTHOR maxwest

    Posted on 11:08 pm June 13, 2017.

    Very nice. I am happy for you. We will be on holiday to Norway this summer to see the Fjords with my family.

  • user

    AUTHOR RH2302

    Posted on 11:17 pm June 13, 2017.

    Looks like you got your life well on track! I think it’s an accomplishment to be proud of. Certainly at your age.

    Thanks for making this community possible. Hopefully, in 2 years, it will bring me where you are now 😊

  • user

    AUTHOR MSNP05

    Posted on 11:53 pm June 13, 2017.

    Congratulations Jonas !! Excellent home .. totally agree with your writeup.

    In my opinion, home is an investment that one should make not looking at the price alone, but looking at it as a place to rest after a tiring day, a place to enjoy with your loved ones, a place to cherish as an outcome of how good you have done in career. Obviously it needs to be a measured investment to ensure you are able to sleep peacefully but once you know how much you can stretch and if all of you in the family are able to look at each other and feel proud then call it Home.

    Enjoy your new home !

  • user

    AUTHOR pradz

    Posted on 1:44 am June 14, 2017.

    Its early morning here in India and you spring up these beautiful pictures of your new home, and I’m happy looking at it so i can’t imagine what a flipping butterfly you might be.

    Echo others’ sentiments of good/bad decisions, ROI and family. All that matters is what YOU think Jonas, if you think you did good. That’s all you’ll ever need to know.

    Congrats man, You hacked it! Enjoy your home.

  • user

    AUTHOR shijo234

    Posted on 4:17 am June 14, 2017.

    Congrats, Jonas.. Beautiful House..

  • user

    AUTHOR UNIQUE

    Posted on 4:31 am June 14, 2017.

    Hearty Congratulations Jonas !! πŸ‘
    Its really a very very nice home and perfect decision. And I am quite sure that you all will enjoy this home very well.
    All The Very Best !!!
    🌹🌹🌹🌹🌹🌹🌹🌹🌹🌹🌹🌹🌹🌹🌹🌹🌹

  • user

    AUTHOR elminv

    Posted on 6:32 am June 14, 2017.

    Congratz man it looks beautiful, enjoy it! πŸ™‚
    I might be in Oslo after Christmas, I’ll let you know!

  • user

    AUTHOR Freestayl

    Posted on 7:14 am June 14, 2017.

    A very nice looking house! Congrats, Jonas!

  • user

    AUTHOR walt747

    Posted on 12:32 pm June 14, 2017.

    Great Choice Jonas, buying a House early on is best investment but of course best get it at lower than market value price, but look at it longterm, you get to enjoy it now and the years to come which gives more value to you and your family when you use it. God bless you!

  • user

    AUTHOR K49FRJyel

    Posted on 10:39 pm June 14, 2017.

    Congrats! Looks like a great place. Currency is a tool – and one of the important things you build with that tool is a home you love to live in. No point in creating more stacks of currency if you can’t love your life.

  • user

    AUTHOR mandym4life

    Posted on 1:10 pm June 28, 2017.

    Sick patio.

  • user

    AUTHOR porcupine1967

    Posted on 10:56 pm July 16, 2017.

    Nice place and looks like a lovely location but my dream house has an indoor pool, tennis court, steam room and a good few acres even though I cannot swim, or play tennis and I hate insects but it’s nice to dream.

  • View Comments (59) ...
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