"Question " Did you but a Home or an Investment

[wankel7]

Originally Posted by MikeJaquish

So it is also an investment. The anticipation of an exit strategy, "...just break even..." indicates such.

True...but I used the word "if"

[twoisbetter]

My husband & I are very handy, we love do it yourself home projects. We bought our home for its great location, great bones and great schools. We have put alot of sweat equity into it, its a hobby for us. For now, we aren't doing anything we can do cheaply ourselves. We believe these things add value and they sure make it more livable for us. Is this our last house, no I hope! Is it a happy home now, yes! So my answer is both!

[AONE]

a property going up or down really comes down to how well you bought. There are hoems here in Orlando that you would be just even in, while there are others you can get at 50 cents on the dollar. Some of those you can turn into positive cash flow for rent so they can and do make good investments. Just because some people are losing money doesnt mean everyone is. I have investors doing quite well. It's all about the deal... don't fall in love with the hoouse fall in love with the deal.

[twoisbetter]

Originally Posted by twoisbetter

My husband & I are very handy, we love do it yourself home projects. We bought our home for its great location, great bones and great schools. We have put alot of sweat equity into it, its a hobby for us. For now, we aren't doing anything we can do cheaply ourselves. We believe these things add value and they sure make it more livable for us. Is this our last house, no I hope! Is it a happy home now, yes! So my answer is both!

I should add that we aren't in a bubble market...a little lower maybe, but we would probably break even if we had to sell.

[Cindy15161]

Originally Posted by wankel7

I am buying a house to live in and store my crap. If I can walk out of this home in the future and just break even I consider that a great success. If I can make some money great. But in the mean time I need a place to store my crap

That is great! This is true it really is just a plce to store your crap. The bigger the house the more crap you but for it because a room or something is empty. LOL Funny post. Gave you rep for it!

[TouchOfWhimsy]

We bought our first house to raise our family in. Then we decided to move out of state, so we sold and were pleasantly surprised to make a large profit.

We bought our second house with the intention of living in it for a few years and then "trading up." The market was high and had no signs of dropping anytime soon, and we could only afford a starter home in the area where we were living. Three years later, my husband lost his job and we had no choice but to move out of state so he could accept the job that was offered to him. The house had plummeted in value, and is now worth $100,000 less than what we paid for it.

It's in short sale right now. There is no way that we can afford to keep it and also pay rent in a different state. The mortgage payment is twice what we'd get if we rented it out. A lose-lose situation all around.

[okaydorothy]

We did both. Our first home was a starter home, which happened to be a second from a foreclosure, so we got it for a great price. It was paid off in 8 years. Then we needed a property for our business which we bought at a decent price. Then we rented out our first home and bought a larger home for ourselves. Last year I moved my business home and rented out the property that our business was in.

This year we bought a vacation home. We still have some equity in all the homes as we always put down 20%. It is not as high as it was in 2006, but we are in it for the long term and not a quick buck.

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