Your Own Home: Is It An Investment or Liability?
We very often here this cliche “Our house is our biggest investment“. Unfortunately, that is NOT true for most of the people. Why? Because for them, the house and its mortgage are actually the biggest burden and liability. The house could give you pride and joy, it could give you good shelter and even could give you happiness, but in the investing world, for most of the case it’s still the biggest liability you ever had. It could be your “biggest purchase” but whether is it an investment or liability, it’s actually depends on you.
(Whenever I refer to “house”, it actually can be broaden to all kind of real estate property such as: house, unit, apartment, town house, villa, condominium, flat, duplex, etc. So to avoid confusion, I will use term “home” instead to refer to it) more