Number four is the most important. Even if it depreciates over time, a house's expected service lifetime is measured in decades, if not centuries in some areas, and it makes sense to get as much good use out of a home as you can if you own one. I know people who flip their PCs every few months or so, so they can get back most of their old PC's value in order to buy this month's new hotness. I don't understand this mindset, and I use computer equipment until it stops working. And then I try to find ways to repair/revive it.