In the middle of escrow for the house on Valencia that we eventually purchased, Jim and Michelle left for a 12-day trip to Europe to celebrate the 75th anniversary of D Day. We went with the Concordia Wind Orchestra of Concordia University, Irvine who were invited to play on Omaha Beach at 4 pm on the 6th of July 2019. We went with our daughter Melissa and her boyfriend Tyger who plays drums for the Wind Orchestra. It was the trip of a lifetime.
Did this contribute to the lending company getting our closing date wrong and us having to pay all cash at closing to save the deal? Could we have caught and resolved this error?
Was it worth the trip? What was the ‘opportunity cost’ of taking a trip to Europe in the middle of a real estate deal? Note also, that we had other business and personal activities that were impacted by our trip.
Before we add up the ‘costs’, what was the benefit. All life is a ‘costs vs benefits’ choice, another way of saying ‘opportunity cost’. The benefit was a ‘trip of a lifetime’ with our daughter at the 75th anniversary of a momentous occasion. Here are two summary videos of our trip.
What were the costs?
Well there was the direct cost of the trip: $5,000 per person. For the three of us, plus incidentals we are talking $15,000 to $20,000. Twice the Jaguar, but that was 1984 dollars.
Indirect opportunity costs were not paying close attention to the Valencia deal and other business and personal activities. Could we have caught the error had we been here? Remember also that our real estate agent/broker Jeff was also on a ‘trip of a lifetime’ foreign trip to Israel. Together would we have caught the error?
I don’t know, but if I had to do it over, I would do it exactly the same. Some things are more valuable than money.
We Marched in the American Parade on Omaha Beach on the 75th Anniversary of D Day
Jim, Michelle, Melissa and Tyger On Omaha Beach on the 75th Anniversary of D Day, 6 June 2019
Jim, Michelle and Melissa at the Wreath Laying Ceremony at Omaha Beach Cemetery, 5 June 2019
Melissa and Tyger with the Venus de Milo
Jennifer, Melissa and Katie Are Not Happy with Another Museum Tour in June 2005
Jim & Michelle Pose at the Louvre
Jim & Michelle at the Eiffel Tower After the ‘Concordia Wind Orchestra’ Concert
Melissa and Tyger Inspect the Pride of Brussels “Manneken Pis”. The Original is 10 feet Across the Street
Jim, Michelle, Melissa and Tyger Eating Belgium Waffles in Brussels, Belgium
Jim & Michelle Hawking Souvenir Programs at St Nicholas Basilica in Amsterdam