<prompt> Human: Ive been considering moving out and getting my first home, and have already decided I dont want to rent. Even if its only a temporary space, Id prefer to own. Hypothetically-speaking, it seems like a million dollar house or apartment NYC is also an area Im considering is the sweet spot for being able to buy a house, and turn it over in 30 years for 2-3x over the original value. At the end of 30 years, I would be left with a property I paid 1,000,000 for with a 100k down payment to sell for 2,000,000-3,000,000, while only paying 366,000 in interest. If I buy in NYC, then if I move out in a few years I can continue renting it out while it appreciates in value. To me this sounds like a smarter proposal than buying a 500,000 house at 3 interest, paying 258,000 in interest, and having a property in a less desireable area that may not appreciate as much over time as a luxury apartment in NYC. For those that are dealing with 7-figure properties, is this indeed the right way to look at the housing market? Frankly my intent is to live as well as possible while still coming ahead in 30 years when the property is paid off. The only factor that will disrupt this is property tax, as it varies widely by area and may make owning a home thats other a good long-term proposition less profitable at the end. After settling on a million dollar mortgage as being an ideal number, I googled it and was right -- tax deductions on interest would be maxed out by a million-dollar mortgage so for a number of factors a million is the best place to be at for a mortgage if you want to come out ahead of the market.Edit: I did look up the property tax rate in NYC, and it looks like a 1,000,000 apartment would cost 7,200 in annual property taxes. So 216,000 in property taxes 366,000 in interest means the total 30-year cost would be 1,582,000 utilities. As long as the value of the property beats that number, which if the NYC housing market continues to appreciate as it has it will at least double, I will come out ahead. Thoughts?  <response>: Thoughts: Do you have 200k as a downpayment? Do you have another 30k for closing costs? Do you have another 50k as your emergency fund? Do you earn an income where your mortgage payments plus repairs plus taxes plus any HOA payments will be less than 30 of your posttax income? 