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.
-
Show this thread
-
Replying to @theSamParr
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
1 reply 0 retweets 4 likes -
-
Replying to @theSamParr
$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.
1 reply 0 retweets 11 likes -
-
Replying to @theSamParr
How is that diff than saying the average angel investment is a loser though? I agree w the general notion: personal home is a consumption decision but it’s def possible to do both (just not everywhere and not all the time).
1 reply 0 retweets 1 like
Many reasons. It’s part of an American dream and culture to buy a home. It’s expected. Writing a $25k hoping it’s Facebook is not.
-
-
Replying to @theSamParr
Yea I hear you. It’s def most healthy to view buying a personal house as a consumption decision (an important one, but still).
0 replies 0 retweets 0 likesThanks. Twitter will use this to make your timeline better. UndoUndo
-
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.