[quote=scaredycat]here’s a price history on a place near where we rent, but not like our rental, but still…
Date Event Price Appreciation Source
Feb 07, 2010 Listed $299,900 —
Feb 07, 2010 Listed $299,900 —
Jan 03, 1992 Sold (Public Records) $246,000 8.1%/yr Public Records
Apr 01, 1989 Sold (Public Records) $198,500 — Public Records
if this were me 20 years down the line, i’d be, well, a little irritated if i wer eheavily leveraged. look at this…jeepers. held the place for almost 20 years, and after the realtor’s cut, and repairs, it’s a loss. yeah you raised a family, happy memories, etc etc…but you’d think you could break even in 20 years! by it 2 y 10 m earlier, and at least you walk away witha bit. maybe. and this assumes the selelr’s gonna gt 299 for the listing, which i doubt.[/quote]
Ah – this goes back to my premise I keep stating… Are you buying a place as an investment – to make your money grow? Or are you buying a place to live in, for shelter.
If you rented for 20 years, you wouldn’t make a profit, either.
I’m not suggesting you buy, or not… I’m just not a big fan of buying houses with the idea of selling for profit… too much downside risk in that proposition… If you have a budget for shelter – and buying fits that budget and gets you a decent home… go for it.
