Your Home Is Not An Investment
from Bargaineering.com by Jim
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There are many benefits to owning a home and I’m a huge fan of it, but don’t justify buying a home by thinking its home is an investment. It’s not.
It is, however, a place to live, a place to make your own, and a place to make yours. It’s a place to put down roots, a place to raise a family, and a place to grow old in. It’s a place to call your own, it’s just not an investment. It’s a home.
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Had this discussion a few weeks ago with an OLDER friend and his family. Couldn’t seem to break thru that “rent” was not “lost”. Sigh.
It’s only an investment if you get rent for it.
Frau is enamored with HGTV and all the renovation, vacation, and first time. (I don’t understand how they can ignore labor cost in the renovations. I don’t understand buying an international vacation home for several 100K$; how many times can you go there? I don’t understand first time buyers who exceed their budget consistently.)
It’s only a legacy.
It’s not an ATM like how people were refinancing to get cash out.
Everything is great when the market is going up; down, not so good.
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