My Home is an asset. But not everyone stays in one place for 15+ years; and if you move regularly (or if you have to be mobile because of employment), then a home can be a liability.
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Just subtracting the monies I would have had to pay to someone else (renting) over the years....
From the amounts that I have paid for the mortgage + property taxes + maintenance + insurance (etc) over the many years that it has been in my name....
And adding the amount that it has raised in "value" or equity...
I've gained more by "buying" than I ever could have by "renting."
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My home will never fall below what I paid for it and even if it does, I still gain, because all these years I would have been paying rent instead. So even if I sell at what I paid, I'd would have had "free rent" or use of the property, instead of paying it to someone else.
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