Unconscious Incompetence; one of the 4 popular, very surprising and easily avoidable habits that are currently making your life difficult, or otherwise may soon make your life difficult
Not knowing what you don’t know, and still being fine while oblivious. Especially, thinking that you know much, just because you have experience, certificates and / or titles, and thus despising complementary knowledge
Many years ago, my mother worked hard to put a roof over our heads. As a widow, she struggled to build a house, where we grew up. It was a fully-paid-for house, and at the time, it was valuable. I am forever grateful for this.
Today, we have moved my mother from that house, and have had to build her a modern house at a whole different location, with modern amenities. She prefers the new house to that old one she built herself—and that old house even if sold, wouldn’t fetch enough money to do anything meaningful.
The above is being repeated by our generation. We are investing heavily and sweating to build houses or businesses which wouldn’t stand against the future. While it’s true that houses or lands appreciate, it’s false to think all do, equally or at the same speed.
What really appreciates is the strategic location of the land and how well the building on it is built. Therefore, while it may seem prudent in the short term to just buy a piece of land anywhere, and erect any brick and mortar on it, you wouldn’t be leaving any asset to your future self or offspring—as this sort of investment wouldn’t stand against the future.