Hello People!

It's the weekend again and I feel so relaxed. My baby is sleeping and so is my husband. I have all the time to myself. I have made some yummy potato onion bread for breakfast but waiting for my husband to wake up so that we can have it together. Till then, I am going to watch some television and side by side engage here.

I have a question for you guys today.

Do you own a house of yours? If yes, do you feel proud of it or do you think you have taken a liability on your head?

As far as my personal experience goes, I desperately wanted to own a house on my name before I turn 30. I saved a lot for it and finally booked a flat 1 month before turning 30. So it was a great sense of achievement and my family was also very proud of me.

Obviously I could not manage to do a complete payment so I took loan from a bank. And now I am paying my EMIs every month which are huge.

Today when I am living in this flat, I feel very happy and nice and there is a sense of achievement for sure. It is a dream come true. But if I think through, there is a huge EMI I am paying and I am going to pay for the next 20 years (unless off course I end up paying my loan amount earlier). So I think again, was my goal really worth it?

Paying almost twice the amount for a house (because of the hefty interest being charged b y the bank) and then spending something on it every month on the decor or for repair. And if tomorrow I need money for something, I cannot even sell it because then I won't have a place to live. Even if I decide to move to a rented accommodation, selling a house isn't that easy and will take me months.

So my question is:

A house is an asset or a liability?

Why do people categorize a house as an asset when it just eats away your monthly salary and gives you nothing in retun (financial aspect I mean).

House brings a sense of security, ownership - Does it really matter or is it just in our minds?

I would love to know your honest opinion on this.