The apartment we were staying in before we shifted into our current home is going to be sold off. Actually, my parents once told me that will be part of my dowry when I get married, but now they are selling it away.
It does not matter to me actually. If I am to have my own place, I rather buy it on my own than to get it from my parents. My exs never know about this as I never told them, as I wanted them to be with me because they really wanted to be with me, not because they thought I would be inheriting any property if we got married.
Anyway, my parents thought it would be more worth it to sell off the apartment instead of just renting out the place, especially since we had tenants that defaulted and ran away, leaving my dad to pick up all the utilities debts. And it will be going at a rather hefty sum, twice the original amount than when my parents first bought the place. What a profit!
Still, it was not as much as the profit my parents made when they sold off the first house before we bought our current home. They sold that off at ten times the amount they orignially purchased the place. That house initially belonged to my paternal grandparents.
When my dad got married, my parents bought it over from them. The property prices accelerate over the years. That house is a two-storey semi-detached house with an all-round garden. My grandparents bought it for a small four-figure sum.
My parents then bought it for another four-figure sum, but when the house was sold off, it was purchased at a five-figure sum. My parents really know how to make use of their fixed assets and convert them into big amounts of liquid assets! I really have to learn about investment and better financial planning and management from my parents.
Just as well I met up with my financial planner last night. After a review of my policies, it turns out that I am doing pretty well for myself. Hopefully in a couple of years I can at least get my own property!
It does not matter to me actually. If I am to have my own place, I rather buy it on my own than to get it from my parents. My exs never know about this as I never told them, as I wanted them to be with me because they really wanted to be with me, not because they thought I would be inheriting any property if we got married.
Anyway, my parents thought it would be more worth it to sell off the apartment instead of just renting out the place, especially since we had tenants that defaulted and ran away, leaving my dad to pick up all the utilities debts. And it will be going at a rather hefty sum, twice the original amount than when my parents first bought the place. What a profit!
Still, it was not as much as the profit my parents made when they sold off the first house before we bought our current home. They sold that off at ten times the amount they orignially purchased the place. That house initially belonged to my paternal grandparents.
When my dad got married, my parents bought it over from them. The property prices accelerate over the years. That house is a two-storey semi-detached house with an all-round garden. My grandparents bought it for a small four-figure sum.
My parents then bought it for another four-figure sum, but when the house was sold off, it was purchased at a five-figure sum. My parents really know how to make use of their fixed assets and convert them into big amounts of liquid assets! I really have to learn about investment and better financial planning and management from my parents.
Just as well I met up with my financial planner last night. After a review of my policies, it turns out that I am doing pretty well for myself. Hopefully in a couple of years I can at least get my own property!
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