House closed today.
The earnings are enough for a down payment on an in-the-city place here, though given the economy presently I'm going to wait a bit and see what happens.
Quick estimate using nice round numbers.
Purchase price -170,000
Home Improvements -10,000
Interest Paid -20,000
Tax Benefits +14,000
Sale Price -Fees +203,700
Total Earnings +17,700 over 1.75 years
Earnings Per Year +10114
Approx Percent ROI +5.95
Over most of the period of home ownership, my 401k was earning a similar percentage, and even the HSBC online savings account was over 5%, so the earnings on a single family home in one of the most-positive real estate markets in the country were better, but not exceptionally so, than traditional investments.
Next up - more detailed numbers and how it would have compared to renting.
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