Quote:
Originally Posted by Alex from Montreal
Buying a land is not exactly the same as a house.
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Yes it two completely different things. I was referring to the guy that said there's no money in real estate. I should of done a quote.
I bought my place I live in now at the same time I bought my land in missouri and the value of it hasn't changed very much but over time I expect it will.
My dad bought his place in 1965 for $5000 and in the 70's he spent roughly $25,000 to remodeling it and since then he's probably spent around $20,000 in upgrades and what not. Today he could get roughly $200,000 for the same property which he has lived in for over 40 years. To me that's not a bad investment at all. If he wanted to he could sell it and buy some land and build a new house on it for $200,000 that would be bought and paid for. So I would have to yes buying a house would be a long term investment.
Gary