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    Author Topic: Why buying a home is usually a terrible investment (vs buying bitcoin).  (Read 1982 times)
    Woodie
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    August 15, 2024, 02:55:38 PM
     #61

    Most people buy into the myth that buying a home is the best investment you can ever make...but more often than not that idea is just a myth.
    ~snip~
    As much as securing a roof sounds like a good thing, unfortunately buying or building a house is 90% of the time going to be a liability!

    Like OP has already pointed out maintenance expenses to keep house in good shape are unavoidable, if a mortgage is taken you need to keep funds going to paying it off and for any business minded person going this route could mean tying up capital which have been used in other projects to make more money...

    But not to discourage this great idea, people should build or buy a house from profits made from a business and not kill the business to buy or build!!!

    I'm not saying that owning a house is a bad thing, there are certainly benefits to home ownership. It provides you with a place to live, you can borrow against it,
    you can pass it down to your kids, etc. If you just want to have a place to live and call your own then owning a house may be a great idea for you, but don't think of it as some kind of
    incredible financial investment because it is not as great as you may think.

    Well summarized!

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