Quote from: Ale88 on September 07, 2024, 04:26:35 PM

Quote from: nullama on September 07, 2024, 10:39:31 AM

Quote from: Mpamaegbu on September 07, 2024, 04:57:00 AM

Owing a house is just a status thing and doesn't make great financial sense. For those who will be scandalized that I see it from this perspective, they should evaluate the cost of buying a house and then check what it would take to pay rent on that property and see how many years of rent that can get them to that amount. It normally runs into years that even the homeowner may not be alive to see. Now, consider putting that same amount of money into business and see how you will easily pay that same rent from the huge profits made. I'm not even talking about Bitcoin investment, but any well thoughtout business.

Owning your own home adds stability and minimizes risk for your older times.

I wouldn't like to be renting a home when I'm say, 70. Imagine if they ask you to leave because they will move into their home.

There are other things to consider when investing in a home. Other investments are different though.

I totally agree with you. Of course everyone manages his life the way he prefers but being in the 60s or 70s renting an apartment and pretty much at any moment you can being kicked out for several different reasons, I don't know, it doesn't sound like a peaceful retiring at that point. And let's not forget that maybe you stay in that place for 20-30 years paying a good price, once you get kicked out you need to think about the market current prices which will probably be 3-4 times more expensive so whatever budgeting you've been doing it's all gone.

Buying home is like security for yourself that you will not experience to became a homeless. We could start over and over again if we fail for our investment but we have less shot to buy our home since the fact is the price of real estate asset is increasing.

Although maybe some may think it dead investment but for if you decide to live with it for sure every cents you spend from it is really worth it. Some people really think that its good to pay attention first on their investment, but they failed to realize that not everyone succeed. Lots of people fail and they provably became homeless if they spend all their money on a failed business. Also its terrible if we experience this when we are old since pure struggle in life is what we are experiencing regarding on that matter.