In 2010, my wife and I bought a 4 bedroom/4-bathroom (2150 sq ft) new-construction townhouse in the Bay Area that was listed at $500k. We were both 35 years old at that time and had a net worth of $80k. We took out $15k from our emergency fund to go as the down payment for the house.
Our income has stayed between $100k-$150k from the time we purchased our home 14 years ago and our net worth is now roughly $2m. About $1m is from home equity. So while we’re not landlords, the house we bought to live in has been good for building wealth in terms of net worth (a number which ignores the six-figure teacher’s pension I’m expecting during retirement so doesn’t really tell the complete picture in our case). We bought the house to live in and were not expecting it to increase like it has but we'll take it.
Our income has stayed between $100k-$150k from the time we purchased our home 14 years ago and our net worth is now roughly $2m. About $1m is from home equity. So while we’re not landlords, the house we bought to live in has been good for building wealth in terms of net worth (a number which ignores the six-figure teacher’s pension I’m expecting during retirement so doesn’t really tell the complete picture in our case). We bought the house to live in and were not expecting it to increase like it has but we'll take it.
Statistics: Posted by Ron Ronnerson — Sat Apr 27, 2024 7:31 pm — Replies 147 — Views 17321