Speaker 1
So we haven't realized the gain. So just focusing on the 14 homes that we bought and sold, our total realized gain before tax was $201,000 across all 14 homes. That includes $96,000 that we lost on a new bill that we did in Rexburg, Idaho. We moved into that house pretty much near the top of the housing market in 2005. I thought we were doing okay. We built it for less than $100 a square foot. But we sold it for $80 a square foot into 2013. So we lost close to $100,000 on that. But we gained over $200,000 on our home and farm that we sold in Teton Valley, Idaho. So if we look at the gains and losses in the early years, the gains weren't that great. It might have been $10,000 gain. We moved from Ohio to Idaho. We lost on that house, but collectively, $201,000 gain. But then there's cost over that 27 year period. We've paid an estimated $69,000 in property taxes. And that's after taking account the tax deduction for property taxes. So that's net of the tax deduction, $69,000, $31,000 in homeowners insurance. We estimate that we've spent $59,000 on home maintenance, repairs, and lawn mowers. That would include lawn service when we've had that. It would include mowing it ourselves. I didn't count for my labor mowing it, but I did take into account the John Deere tractors that we've owned and then sold. And then there was $138,000 in interest that we paid. Again, that's after taking the federal tax deduction for interest. So combined, those expenses and a $201,000 gain, that equates to a $96,000 loss or the total cost of home ownership, including the capital appreciation minus all the expenses from 1993 to 2020. Now, that was a 27 year period. And so it's about $3,600 per year. It cost us to live in a house. And we could compare that to renting. That's only about $300 a month. So if we could rent for $300 a month or less, we would have been better off renting. Except there's one big caveat. We had capital tied up in houses that got us that $201,000 gain before expenses. That's capital that could have been invested elsewhere had we rented. And in some extent, the capital was pretty big because we paid off our mortgage in 2010.