The Value of Your Home, in Perspective

I enjoy listening to a great radio show in the mornings on ESPN Radio. The host is Colin Cowherd (did I spell that right?). In addition to his great style of getting his point across, he also throws out a lot of great thoughts to ponder. Many have little to do with sports in fact.

Today, he mentioned a great quote: Buy for memories, lease for fun. He was talking about spending your disposable income. Better to spend it on something that you'll remember when you're 80, such as a trip to Tahoe (his example) than on a jet ski or some material possession. I fully agree with that premise. Maybe that's why I don't have that 22' boat I've been eyeing!

When it comes to real estate, there is some truth there, too. Find a home that you build great memories with, and put your disposable income in that direction. There's nothing wrong with filling the garage with a new Harley, which I'm sure is a great escape toy. But once you find a place you can enjoy coming home to or spending your free time on the weekends at, the fluctuating value of that property just doesn't matter too much.