The value of our real estate is a substantial percentage of our net worth. We paid it off by building a house, living in it about ten years, selling, building another to live in for about ten years, selling, and now we're building a third and final house with cash. When I say "building", I mean we were our own general contractor and did much of the finish work ourselves. I wouldn't recommend it to others unless they know their strengths and limitations.
I don't really like having such a large asset that only pays me imputed rent, but no house payment is pretty nice as we approach retirement.
I don't really like having such a large asset that only pays me imputed rent, but no house payment is pretty nice as we approach retirement.
Statistics: Posted by Morse Code — Tue Mar 19, 2024 10:03 am — Replies 59 — Views 7674