If you’re in the wealth accumulation phase of your life, I think buying a home is a terrible decision (in most cases). Prove me wrong. Seriously. I’m not being rhetorical. I want to see if there’s math that says otherwise.
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Prbbly right on average but of course devil is in the details. Place I bought in Noe Valley in 2013 appreciated 100%. Got all my cash out via refi after 3 years. One of best investments I’ve ever made. Place I’ll buy in Ladue I’ll be lucky to get my purchase price back in 10 yrs
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$270k. Got all the capital back in 2016. 30y fixed at 3.5%. Just refid to 3%. Get $9k a month in rent. So covers full P/I payment plus taxes, maintenance plus $2k in CF per mo. By 2040, it’ll be a free/clear $2.5-3m asset that I really never paid for. Pretty nuts.
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Ya. Seems like a homerun. But far from average.
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