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Monday, 4 November 2019

Net Worth: October 2019

My NW increased by $15.6K during October (0.66%) due to the continued improvement in global and local stock markets adding value to my geared share portfolio and also our SMSF investment. Our house valuation also improved slightly (0.75%) as the recent improvement in the Sydney real estate market flowed through into our suburb. I think that is technically an 'all time high' for my NW, but it has been fairly flat during the past couple of years due to the correction in Australia real estate and a subdued local stock market.

I've decided to report the amount borrowed to fund the 10% deposit for my 'off-the-plan' investment apartment in the 'other mortgages' total. I will continue to report the cost base for the 'other real estate' holdings until the apartment development is completed (in 2023) and I get the unit valued to obtain a mortgage to fund the balance due at settlement. There will be some stamp duty (about $42K) payable in a couple of months - I'll add the amount to the 'other mortgage' figure, and also increase the cost base by the same amount, so it won't have any impact on my NW figure until settlement.


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