> The money you spend on your mortgage (minus interest) is still yours, in the form of equity. If/when you sell, you get that money back, modulo market fluctuations
A house degrades with use and has a limited lifetime. You take a hit due to wear and tear, or you have taken a hit due to having made remodelling. So you are paying for that wear either way.
You can get some idea if you tally up the cost of full renovation (including pipes, roofs etc) and divide that over the expected age of those, for example 25 years. Plus a fuzz factor for the smaller stuff.
(If comparing to renting, there are other significant fixed costs that come on top of the mortgage payments which are included in the rent.)
A house degrades with use and has a limited lifetime. You take a hit due to wear and tear, or you have taken a hit due to having made remodelling. So you are paying for that wear either way.
You can get some idea if you tally up the cost of full renovation (including pipes, roofs etc) and divide that over the expected age of those, for example 25 years. Plus a fuzz factor for the smaller stuff.
(If comparing to renting, there are other significant fixed costs that come on top of the mortgage payments which are included in the rent.)