Many people have said to me in the past few months, “I’m going to buy a home.” Or, “What do you think of the idea of me buying a home?” Everyone thinks: Well the housing crisis is now over so I should buy a home. They think: It’s probably a good investment. They think: Time to put down “roots”.
I’ve owned a home. A couple of times. I bought a home once after I sold a business. I then lost that home. I then went almost completely insane trying to sell it. Two things: If you are about to do a startup or if you are in the middle of startup-phase then you definitely can’t afford to waste the time or money to buy a house for reasons I explain below. Second, when you sell your startup — everyone wants to buy a house with the proceeds. Don’t. It’s just part of the American mythology. You know the myth: the white picket fence, the yard, the pool, the walls that you can paint, the keeping up with the Jones family. Just don’t. You’ll go broke. At least, if you are as stupid as me. I might be dumber than most though.
To read the full, original article click on this link: Why Entrepreneurs Should NOT Buy Homes | TechCrunch
