A home is actually a highly leverage investment that has a very high probability of appreciation.
Appreciated value can be a bit misleading. For one if you sell your house for more than you paid for it then you pay tax on the capital gains. As well not just your house has appreciated but the whole market as well so when you go to buy a new place you'll be paying current ie. higher market prices. Of course if you bought the place as an investment then that's not relevant.
I'm not saying there isn't a benefit but I am saying that it's very possibly not as great as people assume.
You keep rolling over the profits into the next house. You get a one time sale where you can take the profit tax free. Usually when you are retired and downsizing or moving to a lower cost area.
Will the appreciation outpace (((inflation)))?
Equally high probability of excessive, constantly increasing property tax to fund the expansion of the communistic State.
Doesn't matter if you think you own it. Stop paying the property tax and you'll find out who really owns it.
In the US, there is very little difference between rent & own - you're still a renter in both cases.
A person after my own heart. I believe that property tax should be eliminated. Hopefully by a constitutional amendment. I got on this kick when my great aunt had to keep selling off portions of her farm to pay the property taxes. I started the movement to get rid of property taxes for those over 65. It was then picked up by others. It is still in its infancy. In the case of Virginia, they make it a pain in the butt to get a small break (tons of financial records).
Only property tax? How about all taxes.
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