Quote:
Originally Posted by NorCalAthlete
As I shop for a house I'm meeting more and more people who swear they'll never buy a house because their investments pull more than a house would appreciate, or because it's just too much of a hassle, whatever.
I'm pretty set on having an asset I can rent out if need be, that is highly likely to appreciate by a 6-figure amount, in a desirable area, so I can have my own garage for my car and do what I want with the place without worrying about losing a deposit or whatever.
How about the rest of you? Do you own? Rent? Rent for now but plan to own when able?
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You don't live in the real world, so you shouldn't survey it for decisions on what to do where you live. In the Bay Area, over the past several decades, you could bank on making good appreciation on a house. But with the whole Covid WFH thing, that truth is going to be tested in the next few years.
Don't know what area you're looking in, but there are some areas which seem recession and downturn proof, but they're eye-wateringly expensive. Look at neighborhoods, schools, lot sizes and other things that aren't likely to change with a general outflow of people.
We bought in 2010 and sold in 2018 for 500k higher than we bought it for (almost 100% return) and it wasn't even a great neighborhood. Soild location, but average schools and small-ish houses.