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Do you consider a house as an asset or a liability?

nevenash · 164 · 37687

wintan2006

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mlangseth

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@ Freefront- I think so..but I have not tried it so..I am not that sure..but your logic is there.

As fas as i know...utang pa rin iyan and could be worse, so why do it..
As much as possible strive to be debt-free..

Congrats Wintan - You are on the green!! :-*


freefront

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^Parang voice over: "Wintan has an opening, she has a plan, she aims....SCORE!!!!!"



wintan2006

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          mlangseth ,i am not debt-free :D. Remember, i took a  20 yr loan from the bank here? ....13 more yrs and i am debt free. i am still taking advantage of the low interest rate here in taiwan ,sayang eh.


sneaker23

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freefront

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^Fine! Put that way- it is an asset. Then, if your house gives you grief- it is a liability. Ours badly need a paint job.


leonine_zafiro

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bauer

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i still like kiyosaki's definition of assets & liabilities.  it is realistic.  yung sa accountants, masyadong theoretical, di naman nakakatulong all the time sa totoong buhay.


dinaren

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the house being a shelter (the most basic component of our existence) is definitely a thing of value. Paying your amortization is just like paying for your safety and so it is not considered a liability. It just like paying for a taxi cab to get you to your destination.


allanmm13

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the house being a shelter (the most basic component of our existence) is definitely a thing of value. Paying your amortization is just like paying for your safety and so it is not considered a liability. It just like paying for a taxi cab to get you to your destination.


That's were the problem arises.. Pinoy especially OFW cannot differentiate a "basic need" house vs a "nice to have" house.

Kaya nagiging liability instead of asset ang house.



allanmm13

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ajarn_alfred

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If you can pay it in cash, then its not a problem.However,most pinoys can afford to buy a house using Pagibig,bank financing etc. So the answer lies on a person financial capability. It will become a liability if most of your earnings  proceed to its monthly amortization. So its better to check first if you have the capability to finance your monthly amortization. If not,then think twice


 


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