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Old 07-28-2017, 05:33 PM   #141
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~13% primary home, primary and cabin ~23%. I was just thinking about the "conventional wisdom" that the home is most peoples biggest asset. Not the case here.
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Old 07-29-2017, 09:09 AM   #142
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Old 07-29-2017, 10:03 AM   #143
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Only 1 mortgage free home and nothing fancy...it is 9.25% of total net worth. I am a few years from FIRE. I would upgrade and buy nicer but property taxes piss me off. Cheers!
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Old 07-29-2017, 10:35 AM   #144
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~13% primary home, primary and cabin ~23%. I was just thinking about the "conventional wisdom" that the home is most peoples biggest asset. Not the case here.
Same as your situation, my 2 homes are 25% of my networth.

But while they add nothing to the bottom line, they cost mucho. As mentioned in an earlier post, the maintenance and operating cost is 34% of all expenses in the last 5 years (no mortgage).

So why have 2 homes? It's my preference for consumption, the same as someone who buys his/her Teslas.
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Old 07-29-2017, 06:32 PM   #145
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Old 07-30-2017, 07:10 AM   #146
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~ 11% based on current market value. Will downsize next year as ds #2 goes off to college.
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Old 07-30-2017, 07:56 AM   #147
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Old 07-30-2017, 12:04 PM   #148
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Same as your situation, my 2 homes are 25% of my networth.

But while they add nothing to the bottom line, they cost mucho. As mentioned in an earlier post, the maintenance and operating cost is 34% of all expenses in the last 5 years (no mortgage).

So why have 2 homes? It's my preference for consumption, the same as someone who buys his/her Teslas.
Agree. For us, as a percentage of net worth about 18-20% but as a percentage of after tax spend it would be 20-25% (no mortgages). Everybody makes their own personal decisions on where they spend their money.
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Old 07-30-2017, 12:47 PM   #149
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Same as your situation, my 2 homes are 25% of my networth.

But while they add nothing to the bottom line, they cost mucho. As mentioned in an earlier post, the maintenance and operating cost is 34% of all expenses in the last 5 years (no mortgage).

So why have 2 homes? It's my preference for consumption, the same as someone who buys his/her Teslas.
wow that is amazing -34% must include a bunch of things like roof or deck repair?
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Old 07-30-2017, 01:03 PM   #150
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Well, there's another possibility, that is we are so frugal that the total living cost is so low and the housing expenses stick out more.

OK, OK, time to come clean. People here are astute, and hard to fool.

Yes, I had recent "one-time" expenses on maintenance on the 2nd home. The DIY deck replacement was already elaborated on another thread, but the house siding replacement was a lot more expensive (could not do it myself), even though I only did the south-facing side that did incur more damage from the sun exposure. The main home got kitchen update treatment, and 12 of its 21 windows upgraded.

I am keeping my fingers crossed that the next 5 years will see fewer repairs or updates.

PS. Forgot the main home got 2 humonguous trees removed to make room for an extra parking pad.
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Old 07-30-2017, 01:19 PM   #151
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Probably about 20% for two homes. One large house in a wooded subdivision and the other our lake house 17 miles away. It's a lifestyle choice and really has no bearing on our investments. The second house adds about the equivalent of a weeks vacation cost to our budget. When we no longer want it , sell it off and invest the proceeds. Not a big deal either way.
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Old 07-30-2017, 10:20 PM   #152
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Probably around 25%. Seems like an odd metric however without factoring in equity of the the home, since the equity portion IS part of the networth number.

Mortgage(s) against networth, or equity in home(s)/Real estate would also be interesting.....
I think I misread this question originally since thought it was specifically asking for house equity.

If house value then it's ~110% to NW. If house equity compared to net worth then ~50%. I live in NorCal and just bought it a couple years ago and rolled over a ~75% gain from prior townhome over 3 years into the new home as well as some inheritance. In early/mid 30s so still in accumulation phase. That was from the initial purchase to get into it at a reasonable mortgage and now each year it goes down as investments increase and house value is somewhat constant.
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Old 07-30-2017, 10:27 PM   #153
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Old 07-31-2017, 11:03 AM   #154
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44%, but that's what owning in NYC will do to you!
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Old 07-31-2017, 01:36 PM   #155
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44%, but that's what owning in NYC will do to you!
Yeah Im kicking myself for not buying in Battery Park City back in 1991 ish. I had the money. Now I dont
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Old 07-31-2017, 02:04 PM   #156
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Old 08-01-2017, 07:33 AM   #157
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If house value then it's ~110% to NW. If house equity compared to net worth then ~50%.
I had to run a few calculations to wrap my head around whether this was even mathematically possible.

In case anybody faced the same question, it is. A $1.1M home with a $600k mortgage, $500k home equity, and $500k in other assets would solve those two equations, for example.

Mortgage / NW = 60% sounded brutal at first, but I checked my records. We were at 169% the year we bought our first apartment.
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Old 08-01-2017, 08:13 AM   #158
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This exercise just made me realize the housing market is currently outpacing my stock investments...ie owned the home for 1 year and it is up 14.5%.

Townhomes in our complex sell every month within 1-2 days, so plenty of identical units to get a good price valuation from.

Curious if people factor in the cost of sale..ie I usually discount my home value by 8% to account for realtor fees and general moving out costs (painting/ cleaning/ minor repairs you ignored because it didn't bother you).
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