Financial Autonomy

Way back in 1996 I bought my first home.  It was a two bedroom flat in a very ugly brown brick building, probably built in the 70’s with nothing done since.  It wasn’t flash but it was within my budget and in a good location close to town – Kew for the Melbournites.  I paid $107,000. Now I know that for those looking to buy their first home, $107,000 is probably pretty sickening right now, but 20 odd years ago that was the going rate. 4 years later and I’d meet my now wife, and it was time to move from a flat to a house.  We were starting to think about having a family.  So I sold the flat for $189,000. Now those straight numbers - $107,000 purchase price, $189,000 sale price, look pretty good right?  And they were.  It equates to 15% per year growth.  I wish I could say that I got that return due to a whole lot of research and planning, but the truth is it was pure luck.  I bought when I could afford to buy, and I sold when I needed to sell. But that 15% does not tell the true picture, and that’s what I want