Is your home an asset or a liability?

11 Answers

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  • Favorite Answer

    if you live in your home wather its paid off or not, its ALWAYS liability.. for those who think otherwise go watch richdadpoordad

  • 3 weeks ago

    so many think it is a asset because it is worth more then it was, but they fail to realize the value is 0 unless they are selling it. Property can be worth 10 times what was paid for it, but to get any of that value, you have to sell it, and then it is gone.

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  • Anonymous
    1 month ago

    Little of Both.

    Liability when something breaks: asset when I got equity loan. Also, its worth more now than when I bought it. ,

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  • 1 month ago

    asset paid 100,000 worth 800,000

    • I do the Painting repairs to the roof change Tap washers I even installed a new Electric water Heater

      Only a Liability once you start paying for Maintenance

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  • Anonymous
    1 month ago

    LIABILITY, RENTAL HOME ONLY

    • Red1 month agoReport

      LIABILITY

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  • Anonymous
    1 month ago

    It's mine and the liability was noted and removed. Night.

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  • 1 month ago

    An asset. It has value, and contributes to my positive cash position.

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  • 1 month ago

    My home is both an asset and a liability. It is paid for and relatively valuable and well suited to my needs so it is an asset. On the other hand, the house and garden require a lot of maintenance that is increasingly beyond my ability, making it a liability.

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  • Silver
    Lv 4
    1 month ago

    If it has no mortgage, an asset. Anything with value is an asset.

    • Anon
      Lv 6
      1 month agoReport

      Even WIth M, a loan can be gotten.

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  • y
    Lv 7
    1 month ago

    asset, it is worth much more then we owe, even during the crash it was worth more then we owed.

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