How To Tell If Your Home Was A Good Investment?
Q: Gerald, how can we tell if our home was a good investment? Melinda, Harrisburg, PA
A: The home that you live in unless it’s a multi-unit home that generates income isn’t really an investment in a pure sense because it fulfills a basic need that you have. One of the main benefits of your primary residence is that you live in it and enjoy it. Investment properties and rental properties are a different matter—for these properties, it’s all about the numbers (ROI etc.) Buying a home to live in doesn’t make you a real estate speculator. If you can reasonably afford to buy and maintain your home and you enjoy living in it and it makes you happy, then it’s a good investment.
Thanks for your question, Melinda. For more real estate information and tips visit my blog at geraldlucas.com.