You should try to buy a house one day.
Discussion
I own 3 apartments in NYC, they provide pretty stable yield, and they don’t keep up with inflation.
You should sell the apartments and buy a house.
Not buying any more property for the reason mentioned above. Really doesn’t make sense financially to park that much money into a home unless there is some tax abatement for a new construction
You should own a home because you should own the thing that shelters you. Real estate is not an investment, to your point. I just think it's kind of backwards to own property that you don't live in and stay in shelter that someone else owns..
I’ve stayed in my own property for 12 years. First a studio, then a 1 bdrm.
My needs have changed as I have a daughter and want to have more children, we also plan on moving to China in 4-5 years for about 4-5 years, and my wife owns an apartment in Beijing - although depending on our needs, we may rent that place out and share a courtyard with other families.
Ultimately, I see myself owning land, and retiring in a place where I don’t see my neighbors, and I may change my tune later, but for now, there’s just no reason to buy. Not for me.
Equity?
I have 3 apartments worth of equity and HELOCs pegged at 1.85% on two of them, no need for more liquidity.
But you're right. I don't know you're life. And it sounds like you have a good plan anyways.
Don't listen to me. 😂 I plan on living in an area where I definitely see neighbors, but I want them to be a mile down the dirt road.
Dude… me too.
Had that life in China a few months ago, and it was ✨
