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So
buying a house and living in it is more of
an emotional asset then a fancial asset.Here
is an example... A newlywed couple that moves
into a nice up and coming neighborhood and
purchases a house for $200,000. Their next-door
neighbors, a family of 4, move in and purchased
their house for the same price. A year later,
and many many bills later, this house although
sheltering the families and a definite necessity
in survival and life has not only not made
either family a dollar, but on the other side
has cost them thousands. So right now for
the quest of finacial freedom you are still
in the race out of debt.
Now let's say a year down the line both houses
double in value $400,000 a piece. Neither
family has paid back more then a tenth of
there mortgage and both houses are getting
serious interest from people trying to move
into the town. Both couples now have an asset
that can be very financially helpful immediately.
For arguments sake, the Newlyweds find a buyer
and sell the house. The second they sold the
house the house made them a profit, which
is essentialy cashing in your assest. If you
had a winning lottery ticket would you hold
on to it or turn it in and collect your earnings?
However the family who do not wish to go through
another move choose to hold on to the house,
it remains to be an asset, one that went up
in value, but is a liability at the same time.
For their house will continue to cost the
family a lot of money. And anything that takes
money out of your pocket, no matter how much
you need it or it is necessity, in common
life is a finacial Liabilty. So at a finacial
standpoint in these circumstances is not a
positive.
The newlywed couple now has enough money to
buy a similar house in a different community
and now have a lot of extra money to play
with. And to earn that money it didn't take
much work, so I suggest you do your homework
and invest in something that ends up working
for you which will give you more time for
the only one that matters...You. The married
couple still will have a lovely life, in a
beautiful home, with a family but more then
likely they will have to hold jobs for the
rest of their lives to pay off their debts.
The newlyweds gave themselves a quick chance
at finacial freedom.About the AuthorJared
Cleary writes about Sports, Business and Film.
You can learn more by visiting my blog, Sports
Headlineshttp://sportsheadlinesjc.blogspot.com
or
Financial Literacy
