Assets are things that make us feel good and proud, and we can pass that feeling on to future generations. Liabilities, on the other hand, only make us feel good for a short time. This is why assets are better than liabilities.
I am currently building a house and I've noticed a few things that can add more value to my property. Based on my experience in civil construction, I've observed that the cost of labor is twice the cost of materials. While labor is necessary for constructing the house, I feel that it doesn't directly add value to the property.
When we try to resell the house, they will calculate the materials used charges and stuffs available in the house value, but they won't consider the cost of labor when it comes to sale which means a value to asset. In the above image you can see the man pasting the tiles in the floor actually the cost of tile for the entire building was totally around 5.6 lakhs but the installation cost itself reached 4 Laksh. This scenario makes me feel like unwanted expenses or liability.
It's hard for people who just bought a house because things are really expensive nowadays. Even though I paid a lot for good materials, I still got bad quality. Look at the picture, I paid 12 rupees for a brick but it looks like the one in the picture. This makes me feel unhappy and worried.
It is very important to classify the assets which will increase the value to it. And components like AC car bike are considered as liability as they will repeatedly make us to invest more on it,like to refuel and maintenance charges. Be aware of liabilities and achieve more on accumulating more assets.
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