I'm going crackers! I don't know what it is, but i've been getting obsessed with being a property developer and buying us a new house on the new estate near where we live. This is all fine, but for starters there's no way we can afford the house that i want and there's nowhere for me to get the capital from to begin property development!
If i analyse myself i guess it stems from not being at work for so long - like my mind is reaching for something to do. Researching properties to develop and how to start up doing it and looking at houses for sale is occupying my time. Fine. I guess the reason i want to move us into a bigger house could be something to do with my nesting instinct. I can't get to nest at home because we're in the middle of having the bathrooom done, which means that i can't get to anything to do any nesting until it's finished. So it's like i'm looking outside the home to get ready for baby...
Now, i do have logical reasons for my dreaming of these things too. Firstly, i need money to buy the dream house... about £90-100K would enable us to remain on the same mortgage we are on now, but living in the dreamhouse. There's no way on this earth that we could afford to buy that house, live in it and pay the mortgage if we had to borrow the extra £100K we need. Not even if i was working full time, which i won't be doing for the next year while the baby is little.
To make this money i could try developing a property or two... I really, really think i could do it! I am PRINCE2 qualified, which is a project management qualification. Now, i've touched on using it at work, but not properly. I want to really get my teeth into it and use what i learned to my advantage. I could use the time i'm going to be off work next year to try my first development and see how it goes for me, while still being able to go back to work at the end of it all if it doesn't work out. Fortunately i know someone trustworthy that could advise me on what would need doing to a property and how much it should cost. Then, because he's mega busy and probably wouldn't be able to actually do the work at least he could recommend someone or at the least i'd know from his recommendations what things should cost and not be ripped off.
I've seen the perfect starter development too. I know the market i would aim it at, the approximate budget i would have to spend and a rough idea of the value post renovation. I've even looked at the floor plans and rejigged everything in my mind.
The only problem is that i don't have any money with which to do this. Banks won't even lend 100% of the value of a property, nevermind 100% and then some on top to develop! And we don't have a spare £100K laying around. I know you have to have money to make money and that just makes me sulk. I can do this!
I get that feeling that i will look back in a few years time when i no longer have the opportunity to do this and be kicking myself for not just doing it. I wish i were more brave!
So yeah, my minds been occupied with dreams of things i'll likely not be able to do. It makes me sulk that i don't just have money to invest in stuff like this. I was watching Homes Under The Hammer the other day (which is probably not helping to put me off this) and there was a couple that had won £2.6 million on the Lottery. When they'd quit their jobs for a while and been on loads of holidays they decided that they needed something to focus on, so they went into property development. I was so jealous! Not of their lottery win, but more that they were able to do something that they really enjoyed doing without the crippling worry that one false move could cost them their home or whatever.
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