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this post was submitted on 29 Sep 2023
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Your HOME is not an investment. Unless you're planning to sell and live in a cardboard box.
When you buy a house, you're essentially locking in your housing costs, which can be especially advantageous if you have a fixed-rate mortgage. Rent, on the other hand, can increase over time. My monthly mortgage payment for a house is already several hundreds less than what my friends are paying for their tiny rental apartments. In about 17 years, my house will be paid off, and then I'll only have maintenance and utility bills remaining, while my friends will still be paying rent, which probably has increased by quite a lot by that time. I don't need to sell my house to benefit from investing into it.
This exactly. The 2 things that affect my fixed rate mortgage are property tax, and homeowners insurance. Even those don't affect the payment much in either direction.
Got it. So when I also limit my exposure to cost increases by switching to a cheaper grocery store, I'm "investing" in groceries.
Ridiculous.
No, that's just being frugal. Not spending money on something is not investing. Grocery example would be buying in bulk; you pay more for something upfront because it's going to be cheaper on the long run.