Monday, January 16, 2006

200K poorer...

I signed the Letters on Saturday, dumped the downpayment into the developer's tummy and I will be officially 200K poorer, plus interest, it's gonna be possibly 300K, in a couple of months time.

I have loads of stuff still pending from a month ago, but I am indeed very happy to have settled at leat one of them.

Got myself an insurance premium that comes with the house, and I get some money back also after the 30 years. It's never a good deal, but since we need it, what to do?

In actual fact, there are no such things as good deals. Every freaking insurance company or bank opens its doors to earn a profit. So however hard you try to figure your way out of it, you won't get a good deal. The only deal that's good is the one that you bought, it being good to the seller's pockets.

Just think about it, as and when you buy into an insurance policy, you are actually paying for the insurance company's expenses, the salesperson's commission, and all that. So, there's no such thing as a profitable insurance policy on the consumer's side. Well, unless of course you get yourself into so kind of big trouble, only then the insurance comes good.

When you buy a house, or apply for a loan, you can't get out of the fact that developers earn a profit from the sale of the house, and banks earning a profit from selling you insurance, and interest rates from your loan.

With this, I am starting to get fed-up with some friends who keep on telling me about interest rates being overtly priced and shit loads like that. "You go for 30 year loan ah? You'll have paid double the price when you're done" or "You plan to sell in a few years ah? You won't be able to get back the amount you put in". Heck, I am looking for a nice place to stay in, and not some profitable investment. If I wanted to invest anywhere, I would have invested in my own ability to earn wealth. What's there to calculate about? Don't these people ever make a decision based on what they like rather than making a decision based on return on investment. Don't these people ever relax and spend their money on anything that's not profitable? Heck if it's like that, then might as well not eat well. Because eating at a diner's wastes time, and has very little return on investments. You eat to survive and gain energy to work. So in actual fact, there's no need to eat well. Just eat what gives you the most return on energy and live with that!

What happened to life's little pleasures? I wonder if these people 'buy' into a relationship that is more profitable... Well, they probably do. "I think that this girlfriend is the best for me beacuse she gives me better returns on investment. i.e., she uses the least amount of money, she doesn't splurge, she is relatively low on maintenance, and I can get her without wasting a single cent." Whatever happened to 'Love'?

The fact of life is, when it comes to interest rates, you can't run away from them, you won't be able to get over them, and you're sure as hell won't be able to manipulate them. If you're so good at out-thinking the underwriters, then they would have hired you inside already.

Well, I for one, am not going to reduce my pleasure just for the sake of gaining a lilttle more profit. I would want to live a life whereby I can 'still' make decisions based on a gut feeling.


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