Letter to the editor: A house is a place to live, not a way to grow your fortune

Not an investment

That was a fine guest column — and headline — by Lucas Bucl on June 2: “Even in this real estate market, is your home truly a good investment?” (913, Page 7)

Reality is, most real estate agents parrot and perpetuate the myth that your home is or will become your “greatest investment.” As Bucl outlines, that primary residence makes little sense to generate income or capital appreciation — the objectives of true investment.

Rather, your home is a place to live, in a community and (presumably) in proximity to what you wish to be near. Bucl correctly calls it a “personal use asset.”

We just recently replaced the heating and cooling system in our home. That is not reinvestment; that is a cost of living and maintaining a home.

The more buyers and potential buyers understand they are not buying an investment, the better their sense of reality.

- Bill O’Neill, Shawnee

This story was originally published June 4, 2021 at 10:29 AM with the headline "Letter to the editor: A house is a place to live, not a way to grow your fortune."