As an economist, I learned how to diversify my portfolio, how to seek higher returns, and how to manage my capital. However, there is one asset to which the general rules of the market do not apply: time.
The formula is simple: while, for example, the amount of available capital (n) can in principle be increased at any time through a good investment or by working harder, our time is a fixed, constantly dwindling resource. Since this resource is finite, we must be both wise and efficient in how we use it.
The reason the above formula is true:
- It doesn’t pay off: You can’t save a wasted hour to get two back next year.
- The lack of “time arbitrage”: We cannot buy time at a low price where it is abundant and sell it where it is scarce. There is only one solution: delegating tasks to free up our own capacity.
- The hidden cost: When we handle matters related to a remote property—whether it’s handing over the keys, waiting for a repairman, or emptying the mailbox—we’re essentially working for “free.” However, this is a serious efficiency issue, as it takes valuable time away from family, leisure, or work that actually creates value.
The rational decision
If you’re short on time, it’s worth considering how you spend it. When you compare your hourly rate to the cost of property management, the answer may become immediately clear.
You can always make money. But you can never get time back. (Or maybe “borrow” it wisely… hmm… maybe you can after all)
Hometime.hu does more than just manage properties. We give you back time—the one resource we have less and less of with each passing day.