Return on investment? Should have bought in the 1920s
- November 24, 2012
- Ayda Shabanzadeh
Fancy buying a cosy 5 room cottage comes with everything needed to complete your property including full plans, lumber, roofing shingles, doors, windows, hard wood flooring, mouldings plus the varnish and paint to complete your house? Sounds pretty good doesn’t it, everything you need to build your own home all in a single package.
What if we told you that the package is worth just $1198? Well, actually to be correct we should have said the package was worth just $1198. That’s right, it is no longer available, this Florence self-build package was available back in the 1920s, now days these places, depending on location, are probably selling for over half a million dollars.
So unless you have a working time machine somewhere chances are you are not going to be able to buy the kitset for $1198, but it does offer an important lesson. This figure, 1198, sounds like nothing to us, but in the 1920s it would have been a considerable sum, an amount that may have made people baulk rather than buy. But with the benefit of hindsight we can see it was worth every cent.
Don’t be scared of buying your first home, prices trend up and the amount you pay will look much better in hindsight.