So why is residential property the best and worst investment you have ever made? Remember, all solutions create new problems.
Gee, all you have to do is live there for years and pay for home ownership over time. Frequently the equity is wonderful. Ah, the joys of home ownership.
But one should count the cost. Right?
First there are nature’s primary villains: air, fire, water and quakes. Hurricanes can really get the job done, but, also those eerie funnels called tornados can get you into the shelter faster than a speeding bullet. Fire is a seasonal danger, particularly in the West and in wildlife areas everywhere. The three hundred foot flame I was surprised by once at an intersection left an indelible imprint on what is left of my brain. Flooding is pretty unpleasant particularly in flood plains where the insurance is about the size of the down payment on your house. Quakes, several of which I have lived through, can get pretty hairy, particularly when the earth opens up ahead of you.
Then there are the living creatures like the people eager to tax you into the ground with property taxes at every turn or the realtors hounding you to sell your house with their assistance. Finally there are life’s even smaller creatures: ants, rodents and bees, etc., etc.
So why did you buy the place?