In her early 20s, Rebell had started her first job as a news associate at CNBC and recently moved to a sublet apartment in Manhattan after living with her parents in New Jersey. She was making just $20,000 a year and saving as much as she could.
"I started talking to my neighbors in the building, which was a co-op. Even though I was a renter, almost everyone else owned. I began looking at the numbers," Rebell wrote. She calculated that if she could save enough for a down payment, buying an apartment would save her $300 a month.
"I reminded myself of the advice my grandfather Harry gave me when I was growing up: The only days a stock price really matters are the day you buy it and the day you sell it. The same applies to real estate," Rebell wrote. She wasn't planning to move anytime soon, so she continued socking away the money she wasn't spending on rent.
Seven years later, the apartment was worth three times its initial value and Rebell sold it for a profit. While her situation may be unique, the lesson is universal: Markets fluctuate all the time and there's no use concerning yourself with the value of an asset in the interim if you're planning to hold it for a long period.
This is especially true when it comes to real estate. Financial experts often warn against buying a primary residence expecting a future return. A house is a utility, many argue, and
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