Our Location Independence: Your Questions Answered

After I posted our news that we’re moving to North Carolina this summer and will officially be location independent, some of you had questions. I thought I’d publish a follow up post to answer those questions and hopefully shed a bit more light on some of the decisions we made.

But first, make sure you read this post that details that plan. It contains a lot of information about where we’ll be and what we’ll be doing!

Okay, on to your questions!

The Numbers

Jalpan from Passive Engineering asks, “My question would be on the numbers. How did you decide your original number  and how did you reach the conviction that you’ll still be okay even though you’ve not hit it?”

Great question, Jalpan. When we first decided the net worth number we wanted to hit, we knew it wasn’t the same as our FI number. In order to be completely financially independent, we’d need to save up more than our double net worth goal. But, we assumed that during location independence we’d either:

  • be working full time or
  • be traveling for a short amount of time, like a year

Continue reading “Our Location Independence: Your Questions Answered”

How Fixing What’s Broken Helps Your Financial Life

This post may contain affiliate links. Please read my disclosure statement on the Start Here page for all the fun details. Thanks for supporting the site!

In the months leading up to putting our house on the market, we spent a lot of time fixing the broken areas in our house. Our kitchen sink had been leaking for months and we finally hired a plumber to install a new faucet. There were two plastered spots in the bathroom where we’d removed a towel rack and we painted over them. For the entire time that we’d lived in the house, we’d had a light fixture in the bathroom that we’d removed, because we were scared it wasn’t water safe, and had put a metallic plate over. We finally got a water safe light installed.

How Fixing What's Broken Helps Your Financial Life www.thethreeyearexperiment.com

These fixes cost money, but not near as much as I thought they would. Once I found a handyman and an electrician who’d fix everything, I think we ended up spending around $350 to: Continue reading “How Fixing What’s Broken Helps Your Financial Life”

Putting On a New Roof

Experts say to set aside about 1% of the purchase price of your home each year on maintenance costs. This year, we set aside a lot more than that.

About a year and a half ago, we noticed that our shingles were curling. Every so often, we’d look at our patio and see bits of asphalt from the shingles littering the concrete. We did some research, and found out that our house had been roofed with a type of shingle that was failing across New England. Many homes in our small town had been shingled with this particular company’s shingle, which, unfortunately, were not holding up in New England’s severe winter weather.

Putting On a New Roof--www.thethreeyearexperiment.com

No problem, we thought. Shingles have 15-year warranties, so we’ll just look into that. Well. Turns out, our shingles did have a warranty, but like many things in life, there were caveats:  Continue reading “Putting On a New Roof”

How to Create Beautiful, Frugal Flower Gardens

Do you love to garden? Is Spring your favorite time of year, when the flowers start blooming and there’s color bursting out of every bed?

I absolutely love to create flower gardens. I also know I could spend a small fortune buying plants and shrubs to create the perfect landscape around our house.

Flowers--www.thethreeyearexperiment.com

Since our family is on a three year journey to double our net worth and become location independent, it’s not a priority to spend a lot of money on landscaping when we’ll be selling our home soon. But I love to constantly improve our gardens and so, have learned to save lots of money but still create beautiful flower beds.

Continue reading “How to Create Beautiful, Frugal Flower Gardens”

DIY Mayhem in May

This month, the shower arm in our bathroom has broken, it has taken four different light fixture tries to replace the kitchen light above the sink, and our kitchen faucet has sprung a major leak. We’re getting quotes from roofers in the area to replace our roof. Because there’s a dearth of roofers in the area and the cost of labor and materials is so high, our best quote is $14,000. Yes, that is correct. The cost of a used car. One year of private school education. More than a years’ worth of groceries.

On May 14th, Mother’s Day, it snowed. It rained for fourteen days straight before that. Last week, we got two medical bills for a total of $2,000. We’ve been negotiating a new diagnosis with doctors and the school for our youngest child.

We’ve also had some awesome things happen this month. Mr. ThreeYear became an American citizen on Friday and my dad came up for a surprise visit. After the rain and snow, we got a week full of 80 degree weather and the flowers are blooming. Everything is green and alive. The school year is winding down–as of Wednesday, we’ll have just four more weeks.

American Citizen--www.thethreeyearexperiment.com
We are officially a better nation now that Mr. ThreeYear’s a citizen!

We’re healthy, have a stable and happy home life, reliable jobs, and money in the bank to cover our expenses. In the grand scheme of things, the problems that have besieged us this month are minor annoyances. Continue reading “DIY Mayhem in May”

Closet-to-Bathroom Conversion

Part of our family’s plan for becoming location independent in the next three years is to sell our house and convert the equity into equities (excuse my bad finance joke there). We bought a short sale in 2012 and have lived in the house for five years. By the time we’re ready to move, we will have lived here for seven and a half years. Which is exactly half the length of our 15-year mortgage. (If only that meant half of the house would be paid off…. But I digress…).

closet to bathroom conversion--www.thethreeyearexperiment.com

Since we were fortunate enough to buy an undervalued property, we’re hoping to sell the house for quite a bit more than we paid for it, but to do so will mean some strategic investments. Continue reading “Closet-to-Bathroom Conversion”

Semi-Minimalist Home

Semi-minimalist home--www.thethreeyearexperiment.com
Our semi-minimalist home

I love minimalism. I discovered Becoming Minimalist and The Minimalists about three years ago. I started my minimalist journey with Courtney Carver, of Project 333, and used thirty-three items of clothes per quarter, for about a year. At the same time, I started cleaning out our house, getting rid of things we no longer needed. During one January Continue reading “Semi-Minimalist Home”

How to Manage International Real Estate

How do you manage international real estate holdings from another country?

Real estate in Santiago Chile house in Chile apartment in Chile www.thethreeyearexperiment.com

Our family stumbled into owning real estate in another country. It’s certainly not part of our plan for becoming location independent, but here’s how we ended buying an apartment in another country.

Continue reading “How to Manage International Real Estate”