Re: Owning a house.
I definitely agree with this, but it seems to me like it would depend on a couple of things:
1) what those improvements are. for instance, I'd be surprised if kitchen improvements weren't valued more than plumbing improvements or something.
2) how much you paid. I got a few quotes from contractors before deciding to do the kitchen myself, the quotes were all 2-3 times what it actually cost me. of course, we're assuming my time was "free" but whatever. anyways, I'd be surprised if in my case the improvements are 0 or -EV, but I could understand it if they are on average of course, since people generally overpay for stuff like this (at least in my experience in my area of the country).
however, that these improvements are on average -EV is not what I understood metetron as saying, that would be like saying rake free poker is -EV for everyone, just because it is for most.
in my original post, I asserted that you can have the opportunity to make +EV investments in property you own, not that all of said investments would necessarily be +EV. if I am wrong on this, and metetron seems to think I am, then I'd like to hear why.
|