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Post by Mustang on Aug 13, 2023 17:27:30 GMT
I don't consider real estate similar to cash. Cash is a liquid asset. Real estate isn't. Except for inflation cash doesn't lose value. Real estate does. (Norbert said something about values going down earlier.) Renting isn't always a good idea. I did that once. Bought a house I planned on moving into later. The renters left on the Midnight express after partially destroying. They constantly overflowed the upstairs bath causing the downstairs ceiling to separate and fall from the support beams. Plaster on the interior walls also separated and bulged out. I will never own rental property again.
I have never considered buying a house that you intend to live in an investment. I considered it to be a cash flow decision (as well as a social decision). You have to live somewhere. Pick the one that provides the safest cleanest environment for the costs. Part of the costs are utilities and transportation.
Like me you have probably made this decision a dozen or more times. The only thing I really wanted to point out is real estate is not case and it can definitely decline in value. In the US there are many areas where property values are declining as people and businesses simply give up and move out. Hopefully, this is not happening in London.
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Post by richardsok on Aug 14, 2023 22:55:31 GMT
Norbert ,... thanks. The highgate golf club under "membership" would not give out the annual dues or fees. Suspect quite costly. But you must transport to the above. At my Florida third home, my home abuts a par 3 of our Nicklaus -designed golf course; to the left the backyard touches a "lake". Across the street is the Saint Lucie River, 0.9 miles wide at this spot, for boating of all kinds. Nothing beats having a bottle of wine, with smoked salmon on crackers, sitting along the river watching the pelicans flying by, evening feeding with deep dives. Not bad, for a Penna. farm-boy who retired early. In my front yard I do have a sign that says: To robbers/thieves; the rich people live across the street!Best regards, city folks. R48 You must have some interesting block parties.
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Post by FD1000 on Sept 10, 2023 3:57:21 GMT
We like an easy lifestyle without worries and complications. With that in mind, we own only one house where we live and 2 vehicles. We never owned a second house, a boat, an RV, a third vehicle/motorcycle, or even a timeshare. If we need any of these we just pay for it. All the money is in the markets.
Usually, when you get a job in an expensive city, the employer pays you more. Looks to me like an easy solution. If you don't like the rental, you get another one.
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Post by johntaylor on Sept 16, 2023 13:48:09 GMT
One of my relatives owns multiple houses and multiple noncontiguous farms. He complains about the hassles of ownership.
F Scott Fitzgerald thought about whether you own things or they own you.
In The Beautiful and the Damned, he wrote "The victor belongs to the spoils."
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