Is the house a liability?
Often a question comes up. After all, the house is a liability or an asset (asset). Because Robot T. Kyosaki writes in his book "Rich ded Poor ded", "The tax adviser advises people to buy a house to get a tax exemption." Give a home purchase, when their income increases, then the tax advisor advises them to buy a larger home, and they do not believe that they do not understand that the house is a liability. " While in George S. Calson's book 'The richest man in Babylon,' they prefer to buy the house, and consider buying a house as one of the seven rules of wealth. And he says that being a house of his own to become rich is a sign. Now the question comes the same, whether the house is an Assets or Liability
I have often seen on Youtube People of 'Rich ded Poor ded' in the video then Assets explains the house. In 'The richest man in Babylon', the house is considered as property. If you have also created such videos Then you will say that you read 'Rich ded Poor ded' again, because if the house is liability then Robot Kyosaki why buy a house in 1973? Because indirectly, Robot kyosaki say the home loan is a liability not a Home. Because tax deduction is possible only after taking home loan.
It is clear that the house is an asset. Why is Home Asset on? While no income is received from home. The house is an asset so. Because they reduce the expenditure. Thereby indirect income is obtained. And some houses also get Capital Gain.
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