House,
increase. By definition an asset is a resource that is kept with the
expectation that is will be of value to a company or an individual in terms
of service or monetary value. Contrary to popular belief that a house is not
an asset because you live in it, a house that you own is actually an asset
because it increases in value. Even if you are still paying for the house, if
need be the house can be sold off at cost or at a profit. Costs that are put
into the house such as repairs can be considered as increasing the value of
the house as an asset.
