People all the time my age talk about I really want a house not an apartment.
But a while bacc ago my mom broke down to my how shyt really works, and how easy it is for ya house to lose value, especially if you live in a city like Dallas where the demographics can change drastically in a few years depending on the area you live in
I dont think that shyt is all its cracked up to be
It all depends. Location is important. Knowing future valuations is almost impossible.
If real estate values drop, then you are screwed. If real estate value increases, you can cash in.
You want to own the home for at least 3 years. This way, if you sell the home at a profit, you don't have to pay income tax on the profit (this is something you fill out on your annual tax return form). If you happen to sell at a loss, then you can also claim that loss on your tax return. Not that you want to sell at a loss, at least claiming the loss will decrease your adjusted taxable income for that year so your tax will be lower for that year.
If you plan on buying a house to live in for the rest of your life, then that's an investment, because mortgage over 20 - 30 years will be lower than apartment rent over the same period. You get no equity when paying for rent. You do build equity on your home. So if you sell your home at the same price you bought it for, then the principal that you paid down comes back to you. When you leave an apartment, there is zero equity. You get nothing back except your deposit.
