For how many of you is your house your largest assest? - Page 2 - GoFuckYourself.com

borked · 01-06-2007, 12:59 PM

and to all those that state their business assett is their largest asset and who are not ACTIVELY campaigning fucking hard to stop the .xxx domain, then I laugh in your faces.

borked · 01-06-2007, 01:01 PM

Quote:

Originally Posted by stickyfingerz

Value of my house and property has gone up nearly 80,000.00 from what we paid for it just 2 years ago. Its all about buying at the right time.

Mine went up 450k in 4 years

But then again, I don't live in LA...

For me it was all about buying in the right place at the right time

pocketkangaroo · 01-06-2007, 01:25 PM

Quote:

Originally Posted by CuriousToyBoy

I live by the Robert Kyosaki school of thought .. your home is NOT your biggest asset, it is your biggest liability ..... it is money tied up that is not really working for you.

2c

I would disagree. Many homes appreciate at a higher rate than many investments. In parts of Chicago, there have been 10-20% yearly increases in value in some homes. While it is more tied up than money in a stock, it's no different than any long term investment or retirement account. Your money is still making money. If you can rent out your property too, you're essentially having someone else pay for your property.

LazyII · 01-07-2007, 07:27 AM

Quote:

Originally Posted by SleazyDream

Curious..

My business is my largest - then my house then my rrsp account (registered retirement account - limited amounts allowed to be deposited a year) - within 10 years house will drop from #2 to #4. my unregistered savingin now are a close #4 and within 10 years they should be larger than the house as well - allowing for growth on all 4 things too.

You are an bragging idiot!

beemk · 01-07-2007, 10:22 AM

Quote:

Originally Posted by borked

bullshit to that - you've just got to be good at the game...
my family house is worth 160% more than what I paid for it 4 years ago (50% of that I paid cash), an apt we rent is worth 900%+ more than what we paid 10 years ago, and our country retreat gained 25% in value in 2 years.

Property investment is as safe as houses, as they say.

you're missing the whole point. while you live there its costing you money and you see no income from it. which makes it a liability. if the value goes up and you dont sell it its only going to cost you more $ in taxes. a rental property on the other hand is most likely to give you a positive income instead of only having to pay taxes, insurance, and mortgage every month dipping into your pockets.

borked · 01-07-2007, 10:34 AM

Quote:

Originally Posted by beemk

you're missing the whole point. while you live there its costing you money and you see no income from it. which makes it a liability. if the value goes up and you dont sell it its only going to cost you more $ in taxes. a rental property on the other hand is most likely to give you a positive income instead of only having to pay taxes, insurance, and mortgage every month dipping into your pockets.

#1 My monthly mortgage repayments are a very small fraction of what I would have to pay if I was renting a similar property
#2 My house insurance is a very small fraction of what I would have to pay if I was renting a similar property
#3 I pay 1200 Euros in taxes a year on a property that has a market value 1000x that.
#4 My mortgage will be finished in 10 years. After that, I live in a nice house for free.
#5 I have an apt which I rent to some nice sucker for 950 Euros per month. I don't own a mortgage on that. And he has to pay half of the taxes for it. Thanks to the country I live in.

I'm sorry, but my properties are are making me money. I couldn't possibly be saving any more money if I was renting - I would actually be losing more.

Paul Markham · 01-07-2007, 10:48 AM

Quote:

Originally Posted by woj

I would bet for 95% of the people here their cars are their biggest "assets"....

I would say a lot of the people here don't own their cars. A finance company might.

Paul Markham · 01-07-2007, 10:50 AM

Quote:

Originally Posted by CuriousToyBoy

I live by the Robert Kyosaki school of thought .. your home is NOT your biggest asset, it is your biggest liability ..... it is money tied up that is not really working for you.

2c

If you own your house it's your biggest asset. You can borrow money against it. If you're paying off a mortgage you don't own it and therefore it's not an asset it's a liability. Yes it might be appreciating faster than it's costing but it's still a liability.

We own our house out right. No need to borrow against it.

For us it's the following.

Business.
Eva.
Skills I acquired over the years.
House.

The business could stop most outgoings and would be a cash cow for years.

Eva is my retirement plan, downside is she will not let me stop work.

The skills I have acquired ensure I will never be poor.

The house is low because housing here is reasonably priced and we did not want a mortgage. Appreciates very nicely.

Rochard · 01-07-2007, 11:02 AM

Quote:

Originally Posted by pocketkangaroo

I would disagree. Many homes appreciate at a higher rate than many investments. In parts of Chicago, there have been 10-20% yearly increases in value in some homes. While it is more tied up than money in a stock, it's no different than any long term investment or retirement account. Your money is still making money. If you can rent out your property too, you're essentially having someone else pay for your property.

I bought my house in Phoenix for $220k in 2002. It's currently worth $400k, and I have a renter paying most of that for me.

I bought my house in Northern California for $560k. I had an appraisal done just last week and they are telling me it's worth $790k.

Good job!

HushMoney · 01-07-2007, 12:34 PM

Quote:

Originally Posted by woj

I would bet for 95% of the people here their cars are their biggest "assets"....

my biggest asset...

Lee · 01-07-2007, 12:49 PM

Business, house, investments, bank account.

tehHinjew · 01-07-2007, 12:56 PM

i still live at home but im slowly putting a downpayment on a condo

Odie · 01-07-2007, 01:44 PM

Quote:

Originally Posted by stickyfingerz

Well my house, but only because it contains my priceless collection of every cabbage patch doll ever made. Its taken me 20 years to amass such a collection. We have 5 bedrooms and 4 of them are filled floor to ceiling with cabbage patch dolls carefully preserved in plexiglass cases. Yes Im a millionaire a cabbage patch millionaire....

I'm still freaked out about this comment.....

are you serious???

ForteCash · 01-07-2007, 01:56 PM

Quote:

Originally Posted by SleazyDream

Curious..

My business is my largest - then my house then my rrsp account (registered retirement account - limited amounts allowed to be deposited a year) - within 10 years house will drop from #2 to #4. my unregistered savingin now are a close #4 and within 10 years they should be larger than the house as well - allowing for growth on all 4 things too.

Not even close.. Frugality, living below your means, and investing a minimum of 20% of your pre-tax income is a lifestyle I have lived since I started making money 8 years ago.

Your home is not an asset that should be considered, until it is sold. If you are sick and cannot work, assets put food on your table and money in your pocket. liabilities take money from you each year. while a house is an asset based instrument (real estate), your domicile should be considered a liability, unless you have your home totally paid off, live in a 4 plex that brings in profit each month.

My

mikeet · 01-07-2007, 02:03 PM

Quote:

Originally Posted by DirtyWhiteBoy

Word.

Do you live in the hood?

haha,
i lived in the hood for almost 5 yrs... and in that 5 yrs. i went through 3 lawnmowers. It's kinda funny when you go outside for a smoke or something and you see some dude a couple of houses down cutting his grass with your lawmower.

It's can be very expensive living in the hood.

01-06-2007, 12:59 PM	#51
borked Totally Borked Industry Role: Join Date: Feb 2005 Posts: 6,284	and to all those that state their business assett is their largest asset and who are not ACTIVELY campaigning fucking hard to stop the .xxx domain, then I laugh in your faces. __________________ For coding work - hit me up on andy // borkedcoder // com (consider figuring out the email as test #1) All models are wrong, but some are useful. George E.P. Box. p202

01-07-2007, 12:56 PM	#62
tehHinjew Confirmed User Join Date: Sep 2006 Location: MTL Posts: 5,755	i still live at home but im slowly putting a downpayment on a condo __________________ Hot Porn Wanna trade? email me at wanker (@) wanknation dot com

01-07-2007, 12:49 PM	#61
Lee Confirmed User Join Date: Aug 2002 Location: Kernow Posts: 2,977	Business, house, investments, bank account.