Is Your House An Asset? - Lifehacks

The vast majority of people think that their house is an asset. Best-selling author and investment guru Robert Kiyosaki put forward the opposite opinion, that your house is a liability, in his cult-classic book, Rich Dad Poor Dad.

We have our own take on this, based on our own real world experiences, and our knowledge as investors – is your house an asset? Let’s check it out…

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Ts&Cs: These videos are provided for information and entertainment purposes only. The content is not intended to be a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy as it is not provided based on an assessment of your investing knowledge and experience, your financial situation or your investment objectives. The value of your investments, and the income derived from them, may go down as well as up. You may not get back all the money that you invest. The investments referred to in this video may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.

[investingwithanxiety]

Just realised my missus is my biggest liability. Drains my capital and comes with crippling fees lol.

[eezyable]

We all need somewhere to live. Buying and renting are vith liabilities!
So the question is are you going to rent all your life, or are you going to buy. I think I'd rather buy and be left with an asset. It's not rocket science.

[benjaminm]

Not an asset. However, less of a liability for UK home owners than US home owners. They have all the crazy taxes to worry about, whereas it is the occupier, not the owner that pays council tax in the UK. Owning a home outright will at least save you a few hundred quid in rent in mid to late life.

[stephen]

Guys can I ask a question on a remorgage you can borrow more money .Are you allowed to say borrow an extra 50000 at a low rate but then put a deposit down on a buy to let house Some banks dont allow this ?

[andyn]

Hi, great video, what property books would you recommend ?

[woodrow]

Thanks for the great videos guys, I think they're really informative and helpful. I was wondering what you thought of calculations for average accumulator of wealth (AAW) and Prodigious Accumulator of Wealth ( PAW) found in The Millionaire Next Door? I like the idea of a goal of PAW but then its a moving goal post when you get a pay rise or have a birthday which is frustrating. Would be nice to know your input on it if possible please.

[DB-nlqd]

I get what u are saying and heard Robert before on this case. However I am planning to buy a flat that my mortgage cost is £750 per month. I currently rent at £1100. So I have £350 more of capital a month because buying. Does that and the fact that some of the £750 goes directly into the equity of the property doesn't make it an asset for me ?

[benbiggey]

I like the thought that once you have paid the mortgage off you have no more payments unlike rented property where you have to pay the rent every month regardless. I also like that you can pass the property onto your family once you pass away minus inheritance tax and capital gains tax if your relatives sell it.

[mysteriousstranger]

So according to you paying high rent is much better than owning your home and not paying rent. Not to mention pesky landlords. Utterly ridiculous!