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Starting my journey towards my own home

Last Updated on April 22, 2019 by Mr. FightToFIRE

I turn 29 in four months which implicates my thirties are right around the corner. Closing in on my third decade on this spheroid made me think about my current lifestyle. Though to be fair, it’s also getting a girlfriend that made me think about my next goals in life.

As I commute to my girlfriend every weekend (who is studying and staying at a dorm) and make wonderful memories with her, I concluded I want to find a place of my own. For one part, this is because after four months of living together over the weekend at her dorm I realize we share a lot of commonalities when it comes to living. Though I won’t be kidding myself thinking what we have now and actually living together is the same.

Now, the biggest reason to find something of my own when it’s related to my girlfriend is that she’s not from Europe. This brings in a whole slew of issues. One of which is, if I ever want her to stay here in Belgium as part of “family reunion” I need to be able to prove I can provide for her in terms of housing.

shaking hands over the purchase of a house
My journey towards a place of my own starts here.

Standing on my own two feet

As originally stated, besides being able to provide for a place for my girlfriend, I also just feel the need to move out of my own. This is in part also thanks to my girlfriend. Being with her over the weekend I see how liberating (though with lots of things to take care of as well) it can be.

As I experience the virtues of living in a dorm aka ‘op kot gaan’ -which is something I never did when I was studying- through my girlfriend I to quickly develop a sense of wanting the same which also reflects back at how I experience things at my parents’ place. I get more agitated at smaller things and feel more cramped up just having a room of my own instead of an entire house.

Talking to my girlfriend about how she goes through her life in a dorm it’s clear that a lot of costs that are covered by living at home fall on yourself to manage once on your own.
I will have to take these costs into account when looking at my future budget, but regardless of how things plan out, one thing will remain: the drive to save enough to retire early.

The fight continues

My fight towards Financial Independence and Early Retirement won’t change due to the focus on finding a place of my own, but the way I wish to invest my money will change a bit in the second part of this year.
This won’t be as drastic as you might think. I have two large extra incomes coming my way that will help me reach both my investment goal for this year and get to roughly 20% of savings needed to convince a bank to give me a loan:

  1. Profit participation at the end of April (~2200 EUR)
  2. Double holiday pay in June (~1900 EUR)

Add these two additional pays to my monthly salary and I quickly get enough in the coming months to cover all my savings goals. I only need a 7K to reach my investment goal for this year (already have 4K on my checking account) and an extra 12K to get to ~25K in savings by the end of the year, which is the period I’m looking at to decide the how, what, and where questions.

Final thoughts

That’s it for now. To be fair, I originally planned on putting answers to the above questions in this post, but as I was writing, I quickly realized there is a lot to write about. This journey will also take at least till the end of the year, so I think it’s best I split it up in smaller more readable posts.

In the coming months you’ll be able to follow me along during my thought process and the steps I’m taking to get my place.

I hope you enjoy reading about it as much as I enjoy writing out my thoughts and experiencing. Look forward to my laughs and cries of going through the entire “standing on your own two feet” at the age of “almost 29” 😀 .

I'm a developer for a major financial institution in Belgium that is present in over 40 countries. I have over 8 years of working experience in the development of customer applications focussing on all aspects of banking. This helped me gain a deep understanding of the inner workings of a commercial bank. All of this experience in both banking and life culminates in this blog about personal finance and my fight towards FIRE.

Road to home ownership
1. Starting my journey towards my own home
2. Should I buy or rent my first home?
3. The Truth About Room Investments: Off-limits
4. Buying an apartment in Brussels while renting elsewhere
5. The big move and moving around
6. My mortgage: an interesting experience
7. Apartment progress: 5%
8. How one tax deduction reduced my apartment cost by 17K
9. Coronavirus impact on my new apartment
10. 6 reasons why you should(n’t) get a turnkey apartment
11. Apartment progress: 15%
12. Startling Extra Costs To Get A Better Turnkey Apartment
13. Apartment progress: 30%; finally above ground!
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B at Fire The Boss

Yay, getting your own place is definitely exciting! Just make sure buying your home makes sense financially, i.e. not stretching yourself getting the highest mortgage etc.

Congrats on the big step!

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