Talk of The Villages Florida - View Single Post - Help me Understand. $1 Million in McClure
Thread: Help me Understand. $1 Million in McClure
View Single Post
 
Old 09-23-2019, 09:19 AM
Dond1959 Dond1959 is offline
Senior Member
Join Date: Jun 2018
Posts: 254
Thanks: 3
Thanked 526 Times in 147 Posts
Default
Quote:
Originally Posted by Chatbrat View Post
I never considered my residence as an investment-made money in other real estate , but never considered my residence as an investment, because it generated no income, was burdened by high taxes and maintenance and was subject to beautification whims- when we sold our house on 5 acres in Chester Twp NJ and if we cared to back out all the expenses--the gain might not have been great--even though we had a partner in the Fed Govt to off set local real estate and income taxes, the person who bought our house bull dozed it and built a 10000 sq' mansion
Agree 100%, a home is a place to live. Taking into account all the expenses over the years the gain is typically not as large as you think when you sell. Some people just like a little more comfort and room than others.