Monday, 2 December 2019

Net Worth: November 2019

My NW increased by $47,716 (2.02%) during November due to the significant improvement in the international and domestic stock markets. The real estate estimates remained unchanged as there was no new sales data updated yet for November, so I stuck with last month's estimate for our house price. Overall Sydney house prices increased during November (by around 2%) in response to the RBA interest rates cuts, so this may be a conservative valuation.

I wrote off the valuation for the S-type Jag that I bought last year, as the Jag dealer service centre has been unable to repair the electrical/security system fault which locked up the steering, so it is now past the overdue registration renewal deadline. I'll have to hand the rego plates in to the RTA (although I can put the rego number 'on hold' for 12 months, it will then cost me another $150 or so to have the plates remade if I do eventually get the Jag fixed, or else buy a different car to use the rego plates number on).

The stamp duty for my 'off the plan' unit purchase will be due in January and is roughly the same as this month's NW increase. If my NW ends up above $2.5m by the end of next year I'll be quite happy. The $100K deposit for the unit, and the $42K stamp duty, have both been funded with some of my available home equity loan, so I'll try to earn enough 'side income' from doing Uber Eats deliveries on the weekend evenings to cover that additional cash flow expense. As the interest is tax deductible I won't have to worry about any extra tax liability due to the extra income.

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