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Money and Finances
Reply to "FYI: Don't include home equity in net worth"
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[quote=Anonymous]Does not make sense at all! My homes appreciate in value, just like my market investments. Bought one home 10 years ago for $1.2M, did only routine maintenance (no renovations) of about $35K (had to repaint exterior and new hot water heater and new furnace), sold it 8 years later for $2.4M. Between what we paid and what we put into our two homes, I've spent $5.5M. However, they are worth over 6.5 currently. Sure I'm not going to sell my home just to "get some cash", but if I truly needed to I could sell both homes, get $6-7M and rent somewhere (or buy a cheaper place to live). No way that $6M+ is NOT part of my Net worth. If we drop dead, the kids will inherit those $6.5M homes and can sell and get the cash. [/quote]
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