alkemyst
No Lifer
- Feb 13, 2001
- 83,769
- 19
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Treating housing as an "investment" is one of the reasons our economy got fucked over this last round. Housing is exactly that, housing. It's shelter to keep you warm, and keep the rain off your head. It isn't a high stakes gambling device to get rich quick.
Aside from that, an apartment or condo only goes where someone decides to build it. A small house can go anywhere you want it to.
It is an investment...there is no doubting this and it's not why the economy got fucked over at all. You CLEARLY have no understanding of this.
A home is something one usually must sell at some time usually in 7-10 years most have to move for whatever reasons. One should expect a small increase in value in most areas. Something a little ahead of the rate of inflation and a little more as a prime area now gets built out and that location is desired. Building a home on a deserted island with nothing around it of value, probably won't show much increase.
A home like you are proposing will be a hard to next to impossible sale. It's like trying to sell a home with 3 bedrooms and 1 bathroom today.
No one said anything about getting rich quick.
Also property cost is really the driving factor in most construction. Also not all neighborhoods (HOA or not) will allow certain structures to be constructed.
