Is a home an asset or liability?
 

Which do you think and why?

House is an asset
Mortgage is a liability

Very well put.

Thanks Cap'n.

Why do you consider the house an asset though? Because the price of it goes up over the years you live there? (ignore housing price crash)

I wish more people treated their home as a liability rather than an "investment".

Because of the dictionary.

It is a liabilty when you first purchase it.

As you maintain/improve it and make payments on it, it becomes an asset.

An asset by def is an item of ownership convertible into cash, which a house is.

I own a structure called a house.
In order to purchase this structure, I got SECURED loan.

The value of the home after the loan agreement is irrelevant.
It's mine. Its an asset.


Basic stuff

both

it's an asset until something happens to it and makes it a liability