Home value just keeps going up

[xMetalocalypse]

Use it to invest. Not buy depreciating assets.

Couldn't a new kitchen be considered an appreciating asset? It does add value to your home, an appreciating asset.

[Lefticle]

Couldn't a new kitchen be considered an appreciating asset? It does add value to your home, an appreciating asset.

Maybe if you’re trying to sell it immediately. But appliances depreciate long term.

[buwbs]

whats the end plan OP?

pass all the money down when ded?

spend it all on retirement?

piss it away on cola & hookers now?

[Lefticle]

whats the end plan OP?

pass all the money down when ded?

spend it all on retirement?

piss it away on cola & hookers now?

Live a solid life and hopefully create some generational wealth. I want my kids (don’t have any yet) to have an inheritance cuz my wife and I ain’t getting jack chit.

[meanstringbean]

I use a brokerage as my savings account now and just have it conservatively invested and getting about 4-5% or so. Soon that is not going to even keep up with inflation lol. The HELOC strategy is better though I think and I am seriously considering doing it as soon as I get through a couple immediate things I have going on.


With this strategy you take out a HELOC for whatever you need for rainy day fund or to cover transient needs, say 50 grand for instance (I'd probably still leave 10 grand in cash savings). That 50 grand is now your savings account and your buffer against losing your job or whatever.

After that, every cent goes into paying down your mortgage.

You don't use the HELOC but when an unexpected expense comes up - like medical or a huge need at the house or something - you withdraw from HELOC and then you stop pouring money into mortgage and pay the HELOC back off ASAP before you really have any interest problems.

Then right back to paying down mortgage.

I have a buddy who did this and paid his mortgage off in 8 years and then started buying investment properties. The strategy has some catchy/gimmicky name but I don't remember what that is.

How easy is it to access a HELOC? Any costs? How long does it take to get?


Very interesting. Love hearing new strategies. I keep ~10k in the bank but the rest is just dumped into stock market

[Nelly87]

Bought my place for around $340k several years back. Has:

- 3 bed 3 bath
- Finished basement with giant bedroom/bathroom/kitchenette/living area
- Large office
- New deck (which i built myself), red cedar
- New hardwood floors (which i installed myself), oak
- New carpet

A house on the same street with the EXACT same floor plan with:

- 2 bed 2 bath
- No finished basement
- No deck

Just sold for $535k.

My home value is probably getting close to $600k at this point. Would rep myself if I could.

enjoyin this doug co stuffs bro. rates stupid low and how much my value went up... good times.

[meanstringbean]

That's great for short-term gains and helping erase stupid mistakes but just LOL if you think it's healthy or good for the overall economy in the long-term.

Printing money and low interest rates are meant to be a short-term solution to get an economy back on track. The Fed has been using it as a long term solution. We're going on 12 years of this chit.

There's a lot of optimism by (crony)capitalists and investors that think the government and the Fed can keep them afloat. You can only manipulate markets for so long before the chit comes crashing down.

We are in uncharted territory. I’m not a doomer, but I’m not kool aid drinker either. The market has gone 4x in less than a decade. That’s just insane, and as you said due to low rates which historically are a level for fighting a recession but now is just normal.

[digital022]

Live a solid life and hopefully create some generational wealth. I want my kids (don’t have any yet) to have an inheritance cuz my wife and I ain’t getting jack chit.

Here's a name suggestion: Fraudticle jr.

[Popeye5782]

All part of the plan. Government dosen't want average people to be able to afford their own houses. Going to continue getting worse. They also don't want people owning rental property, it's why they're allowing people not to pay rent. Landlords will begin to default on their loans and the government can buy the property themselves.

[DrFeeIGood]

OP you built your own deck? How was it? I am deciding between building one myself vs paying someone to do it. If I do it myself I'll save $5k. Doesnt seem too hard. Of course built right, with permits, etc.

[FChumChum]

Not really. You can borrow against the appraised value.

But until you do, it's paper gain only..

[OffwhiteBrah]

almost doubled from when i bought it 3 yrs ago, i'm mirin myself