Quote:
Originally Posted by C-One
Look at it from the perspective of you selling the house.
Do you want $2,000,000 for your property or $1,000,001 ?
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Sounds like a realtor or someone with a lot "invested" in the RE.
If you bought your place to live, it doesn't matter what is your home worth except that'd dictate your property tax. But taking tax aside, does it matter that your home goes from 1M->2M->1M in 15yrs? You are not selling it, hence whatever figure showing your property is irrelevant. It's just a place with 4walls and furniture that you can come back to sleep every night.
One'd only care about his/her home value if the person is looking it as an investment (i.e. I buy it for 1M today, live for 5yrs, sell it for 1.5M and pocketing the 0.5M to do something else)
As westopher already put, if you bought a place, and you'd up/down-size any time in the future, the price is irrelevant. You'd move up and down along with it. If you can't afford Point Grey today, you are unlikely to afford it even if your house goes up 50%. Sure your house is now worth 50% more, but so is the house in PG. As long as you don't move out of this particular market, it doesn't matter.