Comments on: Myths About Homeownership http://www.blog.joelx.com/myths-about-homeownership/735/ The best online marketing site by Joel Gross Thu, 11 Mar 2010 04:38:46 -0800 http://wordpress.org/?v=2.8.6 hourly 1 By: Joel http://www.blog.joelx.com/myths-about-homeownership/735/comment-page-1/#comment-1300 Joel Tue, 04 Mar 2008 07:31:06 +0000 http://www.blog.joelx.com/myths-about-homeownership/735/#comment-1300 God- All of the same factors must be considered when making a decision to buy a home. What is the current economic outlook? Is there a chance you could get a better job elsewhere? What is the cost of the property and of the house? How much debt will you need? Will real estate generally increase in value over the next couple years or decrease? Black Rooster- Thanks for the great comment. A home is an asset like any other and you must honestly consider all forms of revenue as well as all possible expenses and the risks to the home. It's a simple decision if you have accurate information. Homes are just like stocks- if you do good research and have a rock solid understanding of the situation they can be a great investment. Don't just buy based on what the government tells you though. And for you ladies- don't buy a house based on how 'cute' it is and assume it is an investment. You need to approach it like you are purchasing any other revenue generating property, unless you want to think of your home as an expense (which is fine if you have the $$$). God- All of the same factors must be considered when making a decision to buy a home. What is the current economic outlook? Is there a chance you could get a better job elsewhere? What is the cost of the property and of the house? How much debt will you need? Will real estate generally increase in value over the next couple years or decrease?

Black Rooster- Thanks for the great comment. A home is an asset like any other and you must honestly consider all forms of revenue as well as all possible expenses and the risks to the home. It’s a simple decision if you have accurate information. Homes are just like stocks- if you do good research and have a rock solid understanding of the situation they can be a great investment. Don’t just buy based on what the government tells you though. And for you ladies- don’t buy a house based on how ‘cute’ it is and assume it is an investment. You need to approach it like you are purchasing any other revenue generating property, unless you want to think of your home as an expense (which is fine if you have the $$$).

]]> By: BlackRooster http://www.blog.joelx.com/myths-about-homeownership/735/comment-page-1/#comment-1298 BlackRooster Tue, 04 Mar 2008 06:35:39 +0000 http://www.blog.joelx.com/myths-about-homeownership/735/#comment-1298 Joel I agree with your article. The biggest mistake people make is that they see a home as a "real asset". However is it really? A home is not a cash producing asset, it doesn't increase your cash flow, rather diminish it i.e mortgage payments, maintenance costs, insurance etc. Unless you have more than one house and you rent it out to a price exceeding your mortgage payment on that house then it's a real asset. The problem is that many homeowners cannot survive the down cycle and are forced to sell. To think that a house is always is a good investment is a wrong perspective, you need to look at it the right way. If you do your homework and buy low and sell high, just like stocks you can make a lot of money. The reason I believe it is better than stocks is because at the end of the day a house is a piece of land that you own and it's just yours and it is something that can sit there for decades without any worries. Things like Land, Gold and Diamonds have been highly valuable for centuries and it is as true today as it was back then. Joel I agree with your article. The biggest mistake people make is that they see a home as a “real asset”. However is it really? A home is not a cash producing asset, it doesn’t increase your cash flow, rather diminish it i.e mortgage payments, maintenance costs, insurance etc. Unless you have more than one house and you rent it out to a price exceeding your mortgage payment on that house then it’s a real asset. The problem is that many homeowners cannot survive the down cycle and are forced to sell.
To think that a house is always is a good investment is a wrong perspective, you need to look at it the right way. If you do your homework and buy low and sell high, just like stocks you can make a lot of money. The reason I believe it is better than stocks is because at the end of the day a house is a piece of land that you own and it’s just yours and it is something that can sit there for decades without any worries. Things like Land, Gold and Diamonds have been highly valuable for centuries and it is as true today as it was back then.

]]> By: God http://www.blog.joelx.com/myths-about-homeownership/735/comment-page-1/#comment-1295 God Tue, 04 Mar 2008 02:35:52 +0000 http://www.blog.joelx.com/myths-about-homeownership/735/#comment-1295 What about building a home? What about building a home?

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