Your home an investment or liability.

[Anthony G]

Do you see your personal home as an investment or an expense? I'm on my second duplex that I bought to live in, improve, and then rent. My next home will likely be a single family and in a nicer neighborhood. I'm not sure if it will be a long-term home, but if it's not I'd like to buy at least a 15 year house after that. When you guys buy a house to live in for a long period of time, do you buy as an investment hoping for appreciation or based simply on a budget and find something that meets your location, size, and architecture requirements?