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| The only asset that has appreciated is my few acre farmstead. Since I never plan on selling it as I would despise living in town, and we have no children to give it to when we're dead, in my specific situation, I would consider a greater value on my property actually being a loss, as the property taxes will most likely be higher. I would bust off part of my house to decrease the property taxes if the mortgage bank would let me do it. Thankfully, the house was trash when I bought it. I also never plan to sell it in the event of needing to pay for a nursing home, life isn't worth it at that point. If I had 40 acres and could sell of 35 when I retire at a higher price, then it would be a profit. One could argue I could rent out the farm buildings when I retire, but I don't think there will be much demand for the buildings I have. I could rent out part of my house, and in 30 years, the rent rate could increase. I would consider that as asset appreciation at that point, as I could utilize it. Really, the only way I could see us ever selling it is if my wife wishes to go to a nursing home, and we have no money. | |
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Farm wife talking. Please help me understand
