I have recently put together what I think is a really compelling plan for myself for the coming 18 months, and I’d love to hear your thoughts.
To be frank, I am not looking for comments on how this can’t be done, but perhaps helpful tips and things I might have overlooked so that this plan can be even better with YOUR help.
In bold, I highlighted the parts I’d need help with.
As you’ll read later, I plan on resigning from my job in December. It’s been 4 years in this job; I don’t feel like I learn anymore or progress at all.
Before doing so, while I have a great income on paper I could take a mortgage in my home country (part of the EU) and invest in a 2- or 3-room apartment in the capital city. With an aim to rent it (while I am not present there), but with an outlook of this place being my place to live if I ever decide to return.
But now I am having second thoughts. The interest rates will probably hit 5% by EOY. That’ll mean that for each e.g., 200K borrowed, I’ll have to repay ~400K. The prices of the apartments are between €250-300K. But I am thinking about whether the prices won’t cool down the moment people’s 1% interest rates will expire, and they’ll jump to 5% and won’t be able to pay their mortgages anymore.
What’s your take on the above assumptions?
If I don’t invest in this apartment - what should I do?
Invest in stocks? Wait till 2025, sell stocks, and buy then when I would potentially live in that apartment?
Shall I borrow 80% (the minimum downpayment is 20%) or should this ratio be different?
My net worth by EOY should be at €270K (~230K in cash).
The way I initially thought about the money is:
230K - 20K for travels - 60K downpayment - 30K apt furniture = I am left with 120K.
I could then save up some more in '25 (read the plan below) and use that money as a downpayment for an apartment in Switzerland. (OR, I can simply put as a downpayment the 120K+60K)
To be ready when I come back and start looking.
To increase my chances of finding a new job.
On a 2-month notice period.
By this time, I’d need to have bought the apartment.
This way I could potentially say on my resume I finished my last job in ’24, and with a bit of luck I’ll start a new one in ’24 too (with no gap on my resume).
Before this day, I’d furnish the apartment and find a tenant for it.
I really need to switch off after this demanding job I have right now.
I always dreamed about taking 3-4 month trip in between jobs.
Traveling is my passion.
After coming back from my travels, I plan on registering at the unemployment office. (TODO: need to get the exact conditions here to understand that my 3-month travels won’t cause any issues)
Move to Zurich and search for a new job. Go to events, meet people.
Learn the language to pass the permit C language test as my permit B is expiring in December 2024. (I know, I am setting myself up for a challenge to find a job, but I don’t see any other way to maintain the above points without doing it this way)
If I fail in any way or something doesn’t work out, it will be fine. I will adjust.
To me, it’s important that I am finally taking control over my life and “reclaiming it back”.
Thank you for taking the time to read and for any of your constructive comments.