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Old 06-10-2012, 03:01 PM
 
65,905 posts, read 67,194,540 times
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when all the soft costs of ownership are added up through the years you may very well have had a better deal renting.

we had no mortgage on the 2nd home we went to contract on last week.

adding up the extra costs like the snow plowing, the gardner ,the preventative bug guy, restaining the deck every few years from the harsh winter all add up to big dollars.

this season we opened the house up and had a huge expensive hornets nest to remove. had to cut 2 dead trees, a huge tree limp came down knocking the electric service off the wall.

its always one expense after another but as time goes on we seem to forget how much dough ownership really costs us.
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Old 06-10-2012, 04:04 PM
 
3,402 posts, read 4,172,970 times
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It is both. If you aren't taking value into consideration when purchasing then I don't think you are buying wisely. Even if you are buying thinking you will stay there forever and never sell, you don't have a crystal ball to tell you that is what will happen. You may have to sell for whatever reason, therefore you should always look at the purchase of real estate as an investment.

Buying real estate to make a profit is a good good thing. Making a profit honestly is always a good thing. If it is done in the real estate world it is super fun and helps clean up neighborhoods and provides jobs and is just plain yummy. People that don't like profit are bad!!!
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Old 06-10-2012, 04:13 PM
 
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investment or rentall properties i agree , the home you live in we may have to agree to disagree.
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Old 06-10-2012, 07:25 PM
 
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Quote:
Originally Posted by tonyurban View Post
So my question is, why do the majority of people look at houses as an investment rather than a family home? Do you think it's risky business to think like that?
I think it's definitely risky business to consider your home as an investment. I have heard so many horror stories of families buying homes as "investments" listening to their real-estate agents and renovating the house to "seller" standards instead of their own wants and needs and then not being able to sell the house anyway when push came to shove. When I purchase my first house, I'm renovating and upgrading it to my standards. I'm only listening to myself because I know what is best for me and what works for me. I also know that I'm the one who is going to be living and dealing with the house at the end of the day so the changes I make are going to be made to suit me and my family. Not the next one. That's why I'm not even planning on moving when I buy this house. My first house is going to be the family house and it's going to be a permanent buy.
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Old 06-10-2012, 07:40 PM
 
Location: North Beach, MD on the Chesapeake
32,445 posts, read 39,749,010 times
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What's funny to me about the investment piece is that a lot of real estate agents in this area drank that bathwater and bought way overpriced properties. Many are now stuck with very highly leveraged properties that they can't sell for what they paid nor rent for anything even close to covering their nut.
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