Is Buying a House Truly an Investment?

Eric Marquette

So, Kaori, today we're tackling one of the oldest questions in personal finance—does buying a house really count as an investment, or is it just a very expensive comfort blanket? I feel like, especially in the US and UK, there’s this idea that you haven’t really ‘made it’ unless you’re holding those keys, yeah?

Kaori Jinsenji

Oh, absolutely, Eric. You know, even in Japan, home ownership is very much tied to ideas of security and pride, even though... well, things work a little differently there. For me, I always think about my grandmother’s old house in Ibaraki. It was this lovely old tatami home, so full of warmth and memories—like the kind of place where every squeaky floorboard has its own soundtrack, if you know what I mean.

Eric Marquette

I love that image. Did you ever, uh, get roped into any repairs as a child?

Kaori Jinsenji

Oh! Constantly. My grandmother actually used to joke that her real job was patching shoji screens and negotiating with the local carpenter over roof tiles. But here’s the reality—yes, there was pride and comfort in having a home, but it also brought this never-ending list of repairs, taxes, obligations. I mean, sometimes it felt like the house owned us, you know?

Eric Marquette

That's the paradox, right? Ownership on paper, but in reality it's... responsibility stacked right up. And yet, so many people chase that psychological comfort. I get it though—I rent, and sometimes I do feel a bit rootless. Owning a place can feel like, "I've landed."

Kaori Jinsenji

But then there’s this interesting Japanese concept called kenzen, which is about balance—like, how do you find peace when so much of your wellbeing is tied up with debt and property? There's sort of a joke in Japan, that until you finish paying off your mortgage, you’re just ‘borrowing from the bank’ but with more headaches.

Eric Marquette

And that’s a theme we've hit before, right? In episode 7, we talked about intentional living and not letting things—whether they're purchases or a home—kind of dictate your sense of security. Sometimes the emotional payoff isn’t quite as big as it was in your head. Where was I going with this? Oh right—sometimes that pride turns into pressure, or even stress, around keeping up the perfect home.

Kaori Jinsenji

Mhm, and when you bring in the cultural baggage, and the expectations... that "peace" can be harder to find than you think.

Eric Marquette

Talking about peace, Kaori—have you ever noticed that people rarely mention how expensive that peace is? Sometimes it feels like the costs are playing hide-and-seek. Maintenance, property taxes, and—oh boy—HOAs. Why does repainting a fence feel like a financial ambush?

Kaori Jinsenji

You know, it’s true! It’s the invisible outflows that sneak up on people. So many expenses just... pop up. In Japan, that's why we use kakeibo, right? We always talk about this little budgeting journal, not just for what you spend at the grocery store, but for those sneaky, "Oof, there goes another hundred dollars" moments.

Eric Marquette

Exactly! Actually, I was talking to a mate of mine who bought his first house in Ohio last year. He thought he’d done all his numbers, totally buttoned up. But then came the lawn equipment, annual roof inspection, forgotten sewer tax—I think, in total, he spent six grand more than what he’d expected, just in the first year. And he’s a pretty sharp bloke, not new to budgeting. He said it felt like trying to patch a canoe with sticky notes.

Kaori Jinsenji

That’s exactly it—those costs aren’t obvious. With kakeibo, we try to anticipate those flows, not just the visible ones but all the stuff lurking under the surface. That way you’re not just at the mercy of the next leak or unexpected bill. It’s not about being stingy—just about being aware, and intentional.

Eric Marquette

It reminds me of what we talked about in, I think, episode 8—you know, reducing clutter, making the invisible visible so you can deal with it. If you treat your home like you treat your wallet—only keep what truly serves you—those bills aren’t quite so shocking, right?

Kaori Jinsenji

Totally! The house—or your money—should be supporting your peace of mind, not giving you new anxiety. But it really does require a different, slower approach.

Eric Marquette

And maybe here’s where the big shift happens. Owning a home can make you feel sort of... stuck, sometimes. I mean, it’s lovely to set down roots, but what if you want to chase a new job across the country, or travel, or even just downsize on a whim? Suddenly that dream house feels like a big concrete anchor.

Kaori Jinsenji

I felt that so strongly when I lived in Tokyo. You know, most people rent tiny places there—apartments smaller than my living room here, but honestly, it gave me such a sense of freedom. There’s an appreciation for simplicity, for having ‘just enough.’ It meant that moving for work or life changes felt doable, not terrifying.

Eric Marquette

That’s interesting, because here, it’s so often about the dream of “more”—bigger lawn, guest room, garage... but sometimes, the stuff we own ends up owning us. Sometimes I wonder if all that space gives us more happiness, or just... more headaches?

Kaori Jinsenji

And that’s where mindful spending really comes in. If your home is helping you honor your goals—providing comfort, community, maybe even a place to feel gratitude for what you have—great! But if all those obligations keep you from being flexible, or stress you out, it might be time to ask whether that’s really sparking joy, you know?

Eric Marquette

Maybe that’s the question for everyone listening: does your living situation actually serve your intentions, or is it just something you’re ‘supposed’ to want? Have you found ways to make your housing encourage freedom, instead of shutting doors?

Kaori Jinsenji

And as always, it’s not about one-size-fits-all. Just that bit of kakeibo-style self-inquiry—“What does this mean for me, right now?” Maybe that’s the place to start, before signing on the dotted line.

Eric Marquette

Absolutely. All right, I think we’ll leave it there for this week. Thank you, Kaori—always love your stories and wisdom.

Kaori Jinsenji

Thank you, Eric! And thank you to everyone listening. Take a breath, check in with your intentions, and remember—peace of mind over pressure, always.

Eric Marquette

We'll be back next time with more mindful money habits from both sides of the Pacific. See you then, Kaori.

Kaori Jinsenji

See you, Eric! And bye everyone—take care, and spend a little more intentionally this week.