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Houses appreciate while also having non-trivial upkeep costs that are often not factored in when people run the numbers on how much they "save" by owning. If y
by war1025 7y ago
Houses appreciate while also having non-trivial upkeep costs that are often not factored in when people run the numbers on how much they "save" by owning.
If you want to become acutely aware of this, buy a rental property and see how close to just breaking even it usually is as a financial investment.
- cactus2093 7y agoEveryone that I've talked to about their rental property usually talks about it in terms of just the cash flow though. So yeah, they'll complain about unexpected costs that bring them close to "break even" in many years, but then after 30 years they have a $500,000 (or however much it's worth) asset. So I don't feel too bad for them, and it makes sense why so many people do this if they can afford to.