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View Diary: Purchasing a house — for ownership or as an investment? (17 comments)

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  •  I have owned homes for 35 years (8+ / 0-)

    The home I live in now was purchased in 1995.  Today it is worth about 10% more than I paid for it - mostly thanks to the crash of the economy in 2008.  To me, my home is NOT an investment - it's where I live.  The payments for mortgage and insurance are about the same as when I bought the place, and about the same as the renter next door.

    If I was using my home as an investment vehicle, the performance would be poor to fair.  I'm willing to pay what I pay for the roof over my head, but I have NO illusions that it's going to make me financially stable long term.

    Imagine all the people, living life in peace. You may say I'm a dreamer, but I'm not the only one. John Lennon

    by GwenM on Sat Jul 13, 2013 at 05:27:04 AM PDT

    •  Mine is worth less (0+ / 0-)

      Also insurance has gone way up and taxes have gone way up.  My mortgage payment has gone up $200/month since I bought the house 12 years ago for that reason.  Where I live they don't put tax increases to the voters, they just go around and reassess property for twice what it's worth and make it harder than hell to appeal.  It was the worst decision I ever made.

      Light is seen through a small hole.

      by houyhnhnm on Sat Jul 13, 2013 at 08:35:10 AM PDT

      [ Parent ]

    •  Can free up an awful lot of money. (0+ / 0-)

      20% of Americans live in paid off houses.  You can do and save a lot more when you don't have to ride the monthly treadmill.

      -7.75 -4.67

      "Freedom's just another word for nothing left to lose."

      There are no Christians in foxholes.

      by Odysseus on Sat Jul 13, 2013 at 01:30:13 PM PDT

      [ Parent ]

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