I believe that home ownership is a positive force for social good overall.
We are on our 4th home, started with a small home in older neighborhood built in the early fifties. Investment of $38,000+/-. Lived there 9 years and upgraded some, sold for $56,000+/-.
Second home larger home with small garage in newer neighborhood, built in the sixties. Investment of $ 72,500 needed upgrades. Lived there 12 years, up to 4 children now, lots of renos! LOL Sold for $139,900.
Third home was an acreage with new mobile, bunk house, fenced, set up for animals on 10 acres very close to amenities. Investment of $ 165,000. Work on some landscaping, fencing and built 2 tier deck. Very little done to home. Lived there 3 years, sold for $330,000 even.
At present, 4th home is large new 5 bedroom home with infloor heating and double garage etc. Investment of $ 340,000.
Investment in a home is one of the biggest and most important investment anyone can make. Always make sure of a couple of things: Location for re-sale and a mortgage amount that you can afford to invest in when things are a little tough. And maintain your home and upgrade when ever possible. It is easier and less expensive to do a room at a time over a few years, then to have to do all the rooms at once to get your home ready for the market.
Investments in our homes have proven to be a very positive and good experience!