A few days ago, my wife and I had lunch in a Fitzroy pub. She happened to comment that the problem with living in a place like that would be that you’d never get a park. In spite of the fact that we had – in fact – just got a park, I agreed. Then, in a strangely serendipitous moment, we walked past a two-storey terrace house with parking for two cars. Naturally I looked up the price and it was only a touch over two million…

“Let’s buy it,” I suggested.

“We haven’t got two million,” my wife pointed out, leading me to do some quick calculations and point out that, after selling our home, we’d only need to borrow a figure significantly less than a million dollars. And, while my wife was of the opinion that having recently paid off our mortgage, she didn’t want to go into to debt in order to buy a house which had more room than we needed.

Anyway, we did a list of pros and cons:

I suggested the following pros:

She suggested the following cons:

In any event, we’re not buying the house even though compared to Mr Albanese’s it was very cheap at less than half........

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