| A new net worth high. Here's the news.
I made an adjustment to the home value. As a reminder, I bought the home for $1.1MM in April 2009. Since then, I've put almost $600K into it to make it just how I want it. I'm done now.
The value is based on the following. The next-door neighbor is also remodeling his place. He is an investor and apparently in escrow on his property for $1.325MM right now. I know I'm biased, but these are not cookie cutter homes and his property is nowhere near as nice as mine and smaller and less impressive in every way. I also got an estimate from a trusted real estate professional who valued the property at $1.4MM to $1.45MM. So altogether, I think the property is probably worth $1.4MM to $1.5MM right now. So I took the low value.
Obviously I am upside-down based upon what I put into it, but I will be there 10+ years guaranteed. So today's value makes little difference. I spent far more on remodeling than I ever thought I would, but I am very happy with the results. Feel it's worth it. You only live once. A man's home is his castle, and all that crap.
My retirement went up because I funded my SEP-IRA.
The other good news is that my net worth is slated to grow for the next 24 months non-stop. I should still make my $4.0MM by 40 figure sometime before my 41st birthday. |