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

nevenash · 164 · 37680

nevenash

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Typically, everyone will tell you that a house is an asset. Do you agree?


dollarbabe

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Reply #1 on: Oct 24, 2008, 09:57 AM
that is what everyone thinks. That's what I think of also before I read the book of Robert Kiyosake the Rich Dad Poor Dad. But then after reading the book i realized that no its not an asset but as a liability since it doesn't give as an income but just create more expenses t. So it cannot be considered an asset.  


nevenash

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Reply #2 on: Oct 24, 2008, 02:31 PM
Yes, I agree with you dollarbabe. Its really a liability if you will live in it. You gotta pay the taxes, maintenance, etc...


pinoynetworker

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Reply #3 on: Oct 24, 2008, 04:09 PM

although when you think about it... RDPD says an asset is anything that puts money in your pocket (even your mom?  :D) ... so in essence if you no longer pay monthly rentals for your abode then that would be less expense and thus more money in your pocket... plus your house can be used as collateral to secure a business loan... and if the business booms then that's money in your pocket... it actually depends on what you do...  :watchuthink:
 


mlangseth

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Reply #4 on: Oct 24, 2008, 06:37 PM
It could be both an asset or a liability - depends on your ability to pay for it.
If you live in it for a long time, then it is an asset because it is also your biggest investment, when you sell, you make a profit.
If you can not afford a house, but still buy one, then it is a liability,  this is the reason of the sub-prime mortgages in the US.
Do not buy if you cannot afford the maintenance of a house, much less, the mortgage.
You create equity in your house, the longer you live in it, the better (parang alkansya).
It is also your leverage against the plummeting stock market.
In short, it is an additional wealth to your net worth.


anakbaryu

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Reply #5 on: Oct 24, 2008, 11:33 PM


gr8collector

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Reply #6 on: Oct 24, 2008, 11:42 PM
its a buyers market in the US now.  lots of bargains to be found.  


ric_TNT

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Reply #7 on: Oct 24, 2008, 11:51 PM


nvtellan

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Reply #8 on: Oct 25, 2008, 01:43 PM
I still consider my house and lot to be an asset. Since nde pa kami tapos magbayad ng utang sa bank, sa ngayon liability din namin ito. Pero what can we do? Kailangan na namin bumukod at lumagay na sa tahimik/magulo. Kailangan na harapin ang buhay ng kaming mag-asawa at anak na lang. One must sometimes endure sufferings in order to enjoy the fruits of your labor.


kiko2007

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Reply #9 on: Oct 25, 2008, 03:38 PM
sabi RDPD liabilities daw ang bahay. pero bakit sa cashflow 101 nilalagay pa din yung apartment na me negative income sa assets column? hhmmm... y lyk dat?  :huh:


sneaker23

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Reply #10 on: Oct 25, 2008, 04:33 PM

sabi RDPD liabilities daw ang bahay. pero bakit sa cashflow 101 nilalagay pa din yung apartment na me negative income sa assets column? hhmmm... y lyk dat?  :huh:


baka walang nagrerent. :hihi:
tas nagbabayad ng tax pa.


workoshore

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Reply #11 on: Oct 25, 2008, 07:12 PM
Para sakin Asset yong munti kong lupa at bahay, next year tapos ko na hulog,thank you LORD...pag maganda ang location at development ng paligid,kasama siya sa pag appreciate ng price...yon nga lang para siyang nasa baol lang...hehehe...
at no worry pa kasi noon sa squatters area kami nakatira,tapos palagi may balita ng demolition,ang hirap ng ganon...minsan gulat ko sa tatay ko,nagmamadali paguwi tapos hanap ay gulok...hehehe,may demolition daw...

cheers...


nevenash

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Reply #12 on: Oct 25, 2008, 10:33 PM

sabi RDPD liabilities daw ang bahay. pero bakit sa cashflow 101 nilalagay pa din yung apartment na me negative income sa assets column? hhmmm... y lyk dat?  :huh:


This can be categorized as toxic asset. We have to be aware that we live in a world of duality(good and bad). If there's a good investment, there's also bad investment. I believe R. Kiyosaki's intention why he included this to Cashflow 101 is to teach us how to differentiate which one's are the good and bad investments. And its your prerogative which one will you choose. I played Cashflow 101 organized by the Create Abundance Business Community. And soon I'll be having a first hand experience of the Cashflow 202 :applause:.... I just can't wait
Posted on: Oct 25, 2008, 10:30 PM


although when you think about it... RDPD says an asset is anything that puts money in your pocket (even your mom?  :D) ... so in essence if you no longer pay monthly rentals for your abode then that would be less expense and thus more money in your pocket... plus your house can be used as collateral to secure a business loan... and if the business booms then that's money in your pocket... it actually depends on what you do...  :watchuthink:
 


simply put..

ASSET - anything that puts money in your pocket in a regular basis.
LIABILITY - anything that takes money from you pocket.


poorguy

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Reply #13 on: Oct 27, 2008, 06:00 PM
owning a house and lot is both an asset and a liability

we are a big family, and to have a house then is a liability, kc kung 7 kami pagaaralin, papakainin ng dad ko need to have a permanent place, d yung every year pwede tumaas yung rent ng bahay, it will be a like a big tapeworm na nakadikit sa pocket ng dad ko...

but now i think it is a liability na, kc when my father filed for closure sa business nya, and open a small area, and half of our property (more or less 500sqm) eh d na namamaximize...only 2 of my siblings live with my parents so parang ang laking sayang...

pero kung sakaling may nglease ng lot namin, or kung may pera lang kami to develope the area it will be an asset ulit  :D sadly wala pa kaya parang yung golden goose namin, nagmemenapause na  :D


nevenash

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Reply #14 on: Nov 07, 2008, 11:02 AM

owning a house and lot is both an asset and a liability

we are a big family, and to have a house then is a liability, kc kung 7 kami pagaaralin, papakainin ng dad ko need to have a permanent place, d yung every year pwede tumaas yung rent ng bahay, it will be a like a big tapeworm na nakadikit sa pocket ng dad ko...

but now i think it is a liability na, kc when my father filed for closure sa business nya, and open a small area, and half of our property (more or less 500sqm) eh d na namamaximize...only 2 of my siblings live with my parents so parang ang laking sayang...

pero kung sakaling may nglease ng lot namin, or kung may pera lang kami to develope the area it will be an asset ulit  :D sadly wala pa kaya parang yung golden goose namin, nagmemenapause na  :D



Golden goose? That's one of the most important thing I learned from our wealth course. I realized that for me to achieve financial freedom, I must take care of it and so it can lay me eggs. :thankyou:


 


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