Poll - What Percentage of Net Worth does Equity in your Primary Residence represent? (Recent storms has prompted this)

[unclemick]

Ballpark 20% Came with Wife at age 70 - House and Farm. Donated(involuntarily) 1st House to Hurricane Katrina(no flood insurance). Second house sold and put in Index funds when married second female at age 70.

Heh heh heh - grin. 1922 Craftsmen was a keeper - 1970 'Leave it to Beaver' 3 bedroom got sold for lack of character.

 

[aaronc879]

We have people on the forum from Naples, Sarasota, and Tampa. Are we supposed to hope the hurricane hits Big Bend again? At least it has far less population than further south.

 

[unclemick]

P.S. Hat's off to the HELENE survivors - stay strong! - and carry on! I left Louisiana ahead of Katrina with two pickups of stuff - 1/2 ton Silverado and a Ford Ranger size GMC. Everything else Katrina took into Lake Ponchartrain. 2005.

Heh heh heh - lots of work ahead. Good Luck to all.

 

[N02L84ER]

12.5%

 

[Texas Proud]

Guess it depends if I were at home or not when it hit and what it was made of.

I was thinking of it becoming a tourist attraction like in AZ...

We paid good money to go look at a hole in the ground... it was interesting but I do not think it was worth the price... Adults $29, Senior is $27... total of 5 people as we brought the kids and a friend..

 

[lemming]

It is 17% but when I am warming my hands over the coals of my wealth I don't think of that. At least until this year when I am on a wait list for an independent living apartment. That home is going to pay for my buy-in and the first three or four years of my new "rent"
That gives my portfolio time to go up or go down. I will still have the " equity" of a 50% refund to my estate for the buy-in cost.

 

[ArmchairMillionaire]

All these storms and the post about Pension vs Net Worth made me curious about the numbers. Again, no real reason purely for curiosities sake. Do not read anymore into it.

Obviously one's mortgage is not included in one's equity. (Realistic Home Value - Mortgage(s) = Equity) If you do not know use the Zillow Estimate, it does not need to exact.

I do not even consider our home when calculating our net worth. We paid $42K for it 15 years ago. It's been paid off for almost 5 years. With inflation/appreciation, we might be able to sell it for $100K. If we were to relocate, we couldn't touch much for that $100K so it's not even worth entering it into any net worth calculations for us.

 

[skyking1]

we are in the 25%~50% bracket now and will be after the new home is built and old one is sold.

 

[luckydude]

Should we decide whether to include pensions and social security in NW calculation before doing this exercise?

Seriously, NOT counting pension and social security, based on our HHNW from a couple of years ago, it would be around 4.6% for DW and me based on current market value.

 

[skyking1]

Should we decide whether to include pensions and social security in NW calculation before doing this exercise?

Seriously, NOT counting pension and social security, based on our HHNW from a couple of years ago, it would be around 4.6% for DW and me based on current market value.

we are so long on house due to
Wait for it

To be revealed


Pensions and SS!!
Ta-Da!

 

[luckydude]

we are so long on house due to
Wait for it

To be revealed


Pensions and SS!!
Ta-Da!

 

[foxfirev5]

12% which doesn't matter since we're never selling. According to tax assessment our lakehouse is another 12%. However this could be sold but I treat it as another layer of assets not used in any investment tallys or retirement income planning.

 

[gauss]

6% also.

 

[lauradrops]

25% - The price of homes on Long Island are crazy at the moment.

 

[bonvoyage]

We have lived in the same modest house for over 25 years at this point and we don't include home equity in our retirement planning.

 

[pb4uski]

We are in the majority at ~10% for our primary residence, but if I include our summer home as well then it's more like ~30%.

 

[Golden sunsets]

14%

 

[street]

~3% at best. I live in fly over country.

 

[EarlyandLate]

4-5% for me depending on the mood of the stock market. I'm one of those people who never considers my primary residence equity in NW. You have to have somewhere to park your carcass and that is just an expense of life in my book.

 

[DJRR]

8% for me, but that is because I carry a big low interest mortgage. Equity Schmequity

 

[Teacher Terry]

75% for me if I don’t count my pension as net worth.

 

[skyking1]

we look at it as our LTC bank. If one of us needs LTC then we sell and the other person rents an apartment nearby.

 

[tryan]

Crazy run up in waterfront after covid puts me near 50%.

Survived Irene with damage to one house. Learned a couple things about FEMA. 1) coverage only given for primary residence ... no second homes or biz coverage. 2) MAX payout 35K.

Can't do much with that today.

 

[cathy63]

22% for the whole property, but a lot of that is land value in a VHCOL area. Cost to rebuild if leveled by an earthquake would be more like 12% of our remaining net worth.

 

[kcowan]

Pensions cover expenses of rent because we only own one of our two properties which we occupy half the year.