Is A Dream Home A Worthy Goal?


Hey guys, Ryan here from on property and in
today’s episode I want to talk about this idea of your dream home and whether or not
it’s actually a worthy goal. Just going to go for a walk. This is my house right here. So you’re going to leave my house. Isn’t my dream home? No, it’s not. We’ll talk about that. We’ve also got my van here, which was my home
for a couple of months, so me and the kitchen used to live in that for a couple of months. We’re going to go for a walk down to the beach. Okay, so live one street back from the beach. Beach is just there. So we’re going to head down to the beach and
we’re going to talk about this concept of a dream home. So I had an email recently from a listener
have on property and if you’re listening to this and you probably know who you are, but
basically talking about how our two properties to financial freedom strategy, how that fits
in with wanting to expand your principal place of residence and expand your home. Talking about this person talks about how
they had invested in a unit in a capital city that they live in as well as in an investment
property with the goal in the future of eventually selling those two properties so they can upscale
into a larger dream home in Melbourne to get a four bedroom house that was going to be,
you know, one and a half million or around that sort of ballpark figure. So as you guys know, especially if you live
in capital cities, super expensive to buy houses in capital cities and so it can be
really difficult for people to think, okay, I want to get financial freedom, but hey,
I also want my dream home. So how do I balance that out? Now? I used to live in Sydney. I used to live in a beach side suburb called
crunella. So if anyone’s from Sydney, you know what
I’m talking about. I’m a shy boy. Born and bred in the Shire Granola, super
expensive. All units now and basically if you want to
buy a house in Granola, you’re talking to three mil sort of thing. In a previous life that would’ve been my dream
home, a house in Granola near the beach, near the good coffee shops, all that sort of stuff. That would’ve been my dream home. But now not so much. Okay. So, so life has changed for me a lot significantly,
especially in the last two years. So what’s happened in the last two years is
that I achieved financial freedom through my businesses where I call it pseudo financial
freedom because I don’t need to work much, but I do need to work a bit and over time
those businesses won’t always pay me. So it’s kind of like short term financial
freedom sort of thing if I don’t keep up doing a bit of work. So I’m not completely financially free, but
it got to the point where I don’t really need to work in order to make money just a little
bit. Also location independent because my work
is online obviously, so basically we can live anywhere. And so what happened during that period was
now I no need to work. That really changed my life a lot. So it really made me open my eyes to how the
goals that I had set for myself in terms of business, in terms of financial freedom, they
were pushing me for though driving though my focus and I was pushing through life in
order to achieve these goals. But when I achieved them, they didn’t make
me happy. And what also happened was that when we achieve
them, we then realized we weren’t happy. Okay. You just get so distracted by life. So distracted by work. So distracted by trying to make money, trying
to build wealth, all of that sort of stuff. You’ve got kids in school, it’s really busy
and you get really distracted. Just doing that. Like you focus on that and show you got to
do it. I remember I used to be a pharmaceutical rep
and my wife went after we had our second kid, she had postnatal depression quite badly. Really struggled to get out of bed some mornings
but I 8:00 or 8:30 in the morning and then I would need to drive onto territory as a
pharmaceutical rep and go to my job. And if I didn’t go to that job, then you know
we wouldn’t be able to afford to live and pay our bills and buy nappies and feeding
our children. And so despite the fact that Chicago needed
me home and she needed my help, I had to go to work. And so for a lot of people out there that
will kind of pull you through life and you just focused on it because you have to do
it. But as soon as you don’t have to do it and
you have financial freedom to everything changes because if you’re going to work, you’re choosing
to go to work, which is really different and you don’t expect it to be so different. But it is. And I will get to the dream home idea. But here’s the thing, right? This person that emailed me, their dream home,
four bedroom property, somewhere in Melbourne, close to work, close to the kid’s school. But the thing is, when you’re financially
free and location independent, you now get to choose wherever you want to live in the
world. You now get to choose. If you want to live a straight back from the
beach and up near Noosa. Okay. In a little beach side suburb that’s surrounded
by national park, that’s where I live. We’ve got a super chilled life now. Me and my wife, we change things. Went in the van and needs change is what I’m
trying to get to. So we used to want the house in Granola to
be really close to family, to be really rich, to have the mansion sort of thing, but then
it’s going to be super windy down here, so hopefully you’ll still be able to hear me. But yeah, once we achieve that financial freedom,
our needs changed and we found an awesome Montessori school up here for the kids and
so what would have been our dream home and what we could have spent years and years striving
towards, changed over time. And then what happens when your kids move
out of home and no longer need four bedrooms anymore? What happens if you want to move up to Queensland? Okay, so here’s the thing that I want to challenge you with. If I had of just stayed in a job, let’s say
I say it as a pharmaceutical rep or things like that, I actually wasn’t in Sydney at
that time, but anyway, let’s just say I stayed in Sydney, worked up the corporate ladder
or even started my own business and I worked my life in order to afford my dream home. I invested in properties in order to be able
to eventually sell those properties to buy my dream home. Let’s say the end of the day I owned my dream
home and Granola, some $4,000,000 house straight back from the beach in Cronulla, let’s say
even get to the point where I pay it off. Okay, what? Then? Right. I’ve spent my entire life’s striving for this
thing, trying to get this, trying to pay it off, probably overstretching myself because
I know so many people who buy their houses and their mortgage just over stretches them
and when business isn’t going well or when their job isn’t going well, they don’t have
the flexibility to change that. And so what happens when you. Let’s say you do all of that, you strive for
your dream home. This is going to take you time, right? Let’s say you even build financial freedom
on the side, so you’ve got your dream home. You become financially free. You no longer have to work anymore. How important is that dream home going to
be when you don’t need to work anymore where you don’t need to live in that spot to be
close to work where you can live wherever you want. Maybe you want to be completely location independent
like the van I showed you previously and you want to travel Australia in a van. Then you got a $4,000,000 dream home that’s
just sitting there that you spent 10 or 20 years trying to buy and you’re not even living
in anymore. But my auntie and uncle have their house in
Sydney as well. Um, great little house that they’ve got there
now traveling the world because they’re retired. They’re doing a lot of travel around Australia
and therefore drive. They got a cat at home and they have to have
people how sit in their house because of their cat. But that dream home, they’re not living in
it anymore, they’re not even there anymore. And so it’s Kinda like, yeah, I just want
to challenge you today because so many people are striving from the dream home. And I actually spoke to someone recently who
has gone through this whole process, so they have invested in property, they have worked
really hard. Them and their partner have worked really
hard. They’ve recently bought a dream home. Well I think it’s their dream home. I’m not even sure up here. Actually quite close to my house. Sold their investment properties in order
to pay it off. So they have now got their dream home, they’ve
got a height off so they got no mortgage on that home and I was talking to this person
and they’re just like, what now? Like this was the big goal that I had for
myself, a big financial goal and I figured when I achieved this goal I’d be really happy
as well. I would want to then set another goal that
was a big financial goal. And so I get to this goal, I own the dream
home outright, and it’s like, well, what now? So, and I think we don’t realize that we’re
going to have that experience in the future. I definitely didn’t realize I would have that
experience, that whole like what now experience. And so I just don’t want you to strive for
20, 30 years working in a job. You hate to buy this elusive dream home that
you think is the ticket to happiness when really it’s just a fraction of what’s gonna
make you happy in your life. And so when you’re thinking about, okay, should
I invest in order to buy my dream home or should I invest for financial freedom? You can do both of those things together. You can choose to just do one. It might take you longer to achieve financial
freedom if you’re also going after the dream home, but just kind of try and think about
your life holistically and say, okay, holistically what is going to bring me more happiness in
my life is owning my dream home outright? Is that what level of happiness is that going
to bring me? Because it will bring a level of happiness. I’m not saying it won’t. What level of happiness is that going to bring
me? And then it’s like, okay, what level of happiness
is financial freedom going to bring me? If he can do what you want with your day,
if you can live any way you want, if you can hang out with people during the day, if I
can go for coffee with my wife in the morning after we drop the kids off at school, I can
walk down the beach like I am right now talking to you guys. What level of happiness is that going to bring
you? Okay, this is really great. Saying that I’ll just close off this video
with you can have anything you want but you can’t have everything you want. So we have this idea of the dream home, but
there’s other things in life that might make you happier. Being financially free, having awesome relationships,
having great friends, sending your kids to an alternative school, but whatever it may
be, there’s so many different things that will make you happy. So I think for some people that are listening
to this, they need to let go of the dream of the dream home and they need to think about
what’s actually going to make them happier in life. Because just because your friends bought a
house doesn’t mean you have to. You need to follow your own path, you need
to do your own thing, whatever is true to you. And so some people might need to let go of
that dream home idea and to be like me. Like I live a straight back from the beach. The House is pretty good that we live in. I rent it, I don’t own it. It’s pretty good though. I’m just going to turn it around now. So pretty good house and I’m really happy. I love where I live, but I don’t have my dream
home. I don’t own it. I’m renting in it. And then if I was kicked out of it because
we rent in it, then I moved down the street somewhere in the same suburb. It wouldn’t be that big a deal, but I’m happy
in my life. The things that I get to explore because I’m
financially free, the things I get to do is really exciting. And so yeah, some people might need to give
up that idea of the dream home. Some people might want to double down on that
idea of the dream home. I Know Ben from pumped on property disagrees
with me. He thinks that the dream has really important. Um, but yeah, everyone has their own thing
that they want to go for and I just don’t want to see you blindly going after a goal
without actually assessing whether or not that’s going to make you happy. And also assessing the other options that
are out there. So yes, a dream home will add to your happiness,
but how much we would add and how long will it take and how much will it take in terms
of sacrifice in order to get it. And there’s other things that might not take
as long, might have less sacrifice. And our overall gonna make you happier. And so have a little think about that today. I’m just gonna. Keep walking along the beach. Go home for some lunch soon. And until next time, guys stay positive.

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