Ancient Wisdom: Why ‘House’ was considered an ‘Asset’ or ‘a Profitable Investment’

Why ‘House’ was considered an ‘Asset’ or ‘a Profitable Investment’ back in ancient times in Babylon by one of its richest man 

Lesson: “Make of thy dwelling a profitable investment” 

“If a man sets aside nine parts of his earnings upon which to live and enjoy life, and if any part of these nine parts he can turn into a profitable investment without detriment to his wellbeing, then so much faster will his treasures grow.” So, spoke Arkad to his class at their fifth lesson 

“All too many of our men of Babylon do raise their families in unseemly quarters. They do pay to exacting landlord liberal rents for rooms where their wives have not a spot to raise the blooms that gladden a woman’s heart and their children have no place to play their games except in the unclean alleys.  

“To a man’s heart, it brings gladness to eat the figs from his own trees and the grapes of his own vines. To own his own domicile and to have it a place he is proud to care for, puts confidence in his heart and great effort behind all his endeavors. Therefore, do I recommend that everyman own the roof that shelters him and his. 

“Nor is it beyond the ability of any well-intentioned man to own his home. Has not our great king so widely extended the walls of Babylon that within them much land is now unused and may be purchased at sums most reasonable? 

“ Also I say to you, my students that the money lenders gladly consider the desires of men who seek homes and land for their families. Readily may you borrow to pay the brickmaker and the builder for such commendable purposes, if you can show a reasonable portion of the necessary sum which you yourself have provided for the purpose. The when the house be built, you can pay the money lender with the same regularity as you did pay the landlord. Because each payment will reduce your indebtness to the money lender, a few ears will satisfy his loan. 

“Then will your heart be glad because you will have own in your own right a valuable property and your cost will be the king’s taxes. 

“Thus come many blessings to the man who owns his own house. And greatly will it reduce his cost living making available more of his earnings for pleasures and the gratification of his desires. 

“Own thy own home” 

My takeaways:  

This strategy of building a home to save money would work but depending on where one lives and the tax systems will not make it possible in today’s time. Back then it may have worked, it is possible to do it if the country allows you to do so by not charging you with taxes that other countries like USA does.  But in today’s age a  house is a liability not an asset.