Is your house that you own a true asset? I have heard houses are not good assets. Thoughts?
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ANSWERS: 3
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Mine is a very good asset. I live in a hot market even in the down turn. I live in the 3rd fastest growing county in the US. You have to be in the right housing market. Be ware. I had a friend who was single and he determined that it would be cheaper to sell his house and move into an apartment. It all depends on your situation. My home value is us 30% in 4 years.
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It is THE BEST investment I have ever made! It kept me from losing everything I had during my disability ordeal, (market value doubled in 20 years). We would have gone under without it. Everyone should own a home, (home, condo, some sort of structure to live in). They do pay off in the long run!
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I would say that is a good INVESTMENT as it is beneficial. I bought the house ten years ago and have been paying what I would have been paying in rent. Soon I will own it outright and not have anything to pay for but taxes and insurance. I don't believe it is an ASSET as an "asset" provides an income. A rental property is an asset. One's personal home is an expense. A taxi is an asset and a personal vehicle is an expense. Technically your home is not an asset but is an awesome investment.
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