DugandRupe on Nostr: As a young man, I was told that I should buy a house, better than renting and then ...

As a young man, I was told that I should buy a house, better than renting and then one day it would be mine.

Now, on the precipice of selling that property, I find this with the deed, sold in 1955 for £1665. I’ve now received an offer for slightly over 100X, but is it worth anything more today than back then? It is still a 3 bed semi, or had the GBP has effectively lost 99% of its value over that same period. The house’s value has not gone up, you’re simply being paid less. More interesting still, since I bought in 2006, the rate of increase has been about 1.6%, maybe offset by some rent, but not accounting for all I spent on it.

This was not a good store of value although a good year where I lived by myself with my dog, particularly as it made me realise being a slave to the bank wasn’t how I saw my future. Once it’s sold, have a good idea how I will store the value of all those years as a landlord.

Your house is a consumable, it is not a store of value. Mortgages can be viewed as cheaper ways to rent off the bank, not a way to save. Save your time value in something that doesn’t need painting or have its boiler fixed. Nfa, but also, you do you. 🫡🙌 #bitcoin (not a picture of my actual house)