Quote:
OK so this magical house you buy is now worth 800k. What do you do with it?Originally Posted by no_worries
Sounds like a Dave Ramsay convert :lol: Who's to say it wouldn't be a wise decision? If you can such it up and swing the payments, in a couple of years that piece of real estate just might be worth $800,000. Topics like this are simply much too variable to paint with such a broad brush.
About the only thing you can do is brag to your friends. Do you think they care?
Are you going to move out and move into a much smaller house? That's about the only way to capitalize on the appreciation.
I've said it before and I'll say it again, your house is a liability. It's not an asset. Assets you can CASH OUT.
If you do that, where are you going to live?
Of course, this doesn't apply to rental properties. I'd much rather buy a 500k house/duplex for a rental property then for myself.