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Imagine you're retired, you own a house on an island where you like life. Why do you care if your house is "worth" $50k or $1m? Maybe you don't have kids to i
by ThePadawan 5y ago
Imagine you're retired, you own a house on an island where you like life.
Why do you care if your house is "worth" $50k or $1m?
Maybe you don't have kids to inherit it. Maybe you consider yourself at home where you're living, so you wouldn't want to sell it anyway.
- maccard 5y agoHave you had that conversation with many people who are retired in comfortable positions? I've had it with many family members (Apparently I'm the one who is "good with money things"), and they all _do_ care, despite the fact they will never realize that value.
- ThePadawan 5y agoNo, I don't know anyone in that position.
- hnlmorg 5y agoYou only care if your kids aren't planning to live there. In small, isolated communities it's common to hand property down (much like farmland) rather than sell. In those cases the cost of the property is more academic as the real value is the community and any sentimental elements (eg "my grandfather built this"/"5 generations of kids were born in this house", etc)
- Angostura 5y agoIf you're in the UK, that house is probably the main way you are going to fund decent care in a care home in the last 5 years or s of life. You'll care