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You are here: Home / Words of Wisdom / Is Ownership a Flawed Philosophy for Making Money?

Is Ownership a Flawed Philosophy for Making Money?

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house-key-womanWe’re all sellers, whether we like it not. If you think you are not selling your home, think again. You haven’t been offered the right amount of money yet. Even those that have a sentimental attachment to their property would more than likely sell if they were given the right price.

Expecting to hold onto possessions forever is shortsighted to say the least and foolish at worst. Everyone should be ready to sell the things that really don’t matter in their lives.

True value in things does exist and always has. For example, a diamond ring that your grandfather gave you just before he died. That has value that is meaningful to you, and despite its commercial worth, you will not sell it. However, a ring that you were given as a present could be more use to you if it were sold. This is especially true for when you’re in a tight spot and need the money to pay for bills etc. So in a sense, nobody owns everything he or she has, it is just that the right buyer has not come along yet.

Properties need maintaining

Many of us know in the back of our minds that the homes we live in aren’t our dream homes. At least half of us are saving up for that dream home. That leaves many people unhappy with their homes and even less trying to move on up. Your property should be maintained so when you want to sell to someone who views your home in a better light, you’ll stand to make a lot of money.

The outside of the home needs to be invested in just as much as the inside. Updating the roof is one such practice that you can do. Shingles wear away and should be replaced every two decades or so. Check how long ago they were fitted to your home. The gutter pipes can be updated with newer designs that filter rainwater much more efficiently. Maintain the grounds such as the garden and pavement, so weeds don’t consume the outside.

An ownership trap

Owning and selling cars is a terrible trap. You’ll never ever get the right amount of money for a used car when you’re selling on the open market. Cars that are old, but still in working order, will be a financial burden at the least. Owning cars is something of a tradition that is being challenged and that seems to be fading away. Why own a car when you can just rent or loan out a car? It’s not as punishing as owning a car as on https://auto.loan/calculator/ you can see how much your loan would cost. It would be in the fractions of what you would be paying to buy a car brand new. Just put in the details of your financial expectations and the calculator figures out what kind of range you should be aiming for.

Owning a home is a high achievement and something you should be proud of. However, if it’s not your dream home, it should be maintained for someone that does see it as his or hers. Owning a car may be a fool’s errand, as loaning is far cheaper in both the short and long-term.

Filed Under: Words of Wisdom

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