Sharing Daily Discoveries About Personal Finance And Business Topics

Purchasing So Much Real Estate That You Never Truly Use

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Today I was passing by the wealthy area of the city where people live in gigantic multi-million dollar homes with spectacular mountain height views of the city. I did notice some strange stuff such as people have lawns that were so large that residents would literally just park their car on it for convenience it seems. That’s on the grass and all. Some of the places literally looked like they were living in a large motel meant for hundreds of people.

It makes me think how when we talk about debt a common advice given is that if you truly don’t need a large house where something like a condo can suit your lifestyle just fine then that can be the better choice financially. There are even people that buy things like a tiny house where they say because of that alone they pretty much solved virtually every financial debt issue.

It’s understandable as we were all essentially taught to get a good education and afterwards we need to buy a home as it is the best type of investment you can get. I think the biggest issue is when people get the house more as a status symbol where they stress out day and night trying to pay off the mortgage where one becomes a slave to it. When people have so much space they don’t use too I find they just end up filling it up with stuff they don’t need either to again make it look nice.

If you are to buy a large house that you don’t truly need then renting say the basement where at least you get a return on your investment would kind of have to be an essential route to go with I feel for an average person. Unless you truly have millions to throw away.

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