Home Value Increase (Q Mac)

Options
Monterey Scott
Monterey Scott Member
edited August 2023 in The Water Cooler

I use Quicken for Mac. I've added my home as a property/asset. If the value increases or decreases it is recorded on the Income and Expenses as income or debt depending on the increase or decrease of value. Being an asset, it really shouldn't show under that area.

How should I log the increase or decrease of the value of my home so it doesn't show on income and expense and instead as an increase in my assets?

Comments

  • Rocket J Squirrel
    Rocket J Squirrel SuperUser ✭✭✭✭✭
    edited July 2023
    Options

    I track my home value using 2 asset accounts. I don't particularly love this approach, but it's good enough for my needs. It helps that I don't have a mortgage.

    It is important to track the basis in a home if it might ever be sold. So one account starts with the actual cost of the home and increases only when significant improvements are made.

    The second account tracks appreciation only, as reflected by current estimated market value shown by Zillow, Trulia, etc. I keep this account Separate in QWin so it doesn't affect reports and such.

    The sum total of the 2 accounts is estimated market value.

    Quicken user since version 2 for DOS, now using QWin Biz & Personal Subscription (US) on Win10 Pro.

This discussion has been closed.