I would like to mention 2 points which writer forgot to add. 1.in option 2 he has to mentioned add the rent which every month he is having if he go for new house. 2.What about the appreciation of house after 20 years.
RE:House Rent and property cose Missing thing
by on May 02, 2007 01:59 PM Permalink
In a modest scenario the property appreciates by 10%. So roughly at the end of 7 years the value is doubled. But then a 7 year old property will never fetch the price of a brand new property.
Also one must remember that if the property in question is the only property one will never sell it unless in extreme and dire conditions. Hence the value is on paper.
But the feeling of having a self owned property is priceless, the security unimaginable.
RE:House Rent and property cose Missing thing
by Nitin Srivastava on May 02, 2007 02:19 PM Permalink
I am not agree with you that old property will never fetch the price of brand new property.Price of property mostly depends upon the location in first priority. and one more thing in the 2nd option rent should be alos negate since now you will be not giving any rent for next 20 years.
