0 Flares 0 Flares ×
- Reason number one for buying a house is for investment. Houses are great investment you’re going to make more profit off of the house and you are going to make profit from your stock portfolio so investing in a home will bring you the most bang for your buck.
- That appreciation you will get from owning a house will increase your net worth very quickly. A lot of times you can make $10,000-$50,000 just in your first year alone in equity which would put you ahead of the game and would allow you to have more money down for your next house if you were upgrading to a bigger home.
- Your return on investment is always going to be higher when owning a home. You can spend $1400 a month on rent for example but you can be spending $1000 a month on the mortgage and part of your mortgage goes towards paying your house off when rent only goes towards rent and you never see that money again.
- Owning a home is like having a forced savings account. Each month to pay towards the principle of your mortgage you’re putting that money away in the bank that’s locked up that you should not be able to use and when you sell that home you can use it to purchase your new home or do something else with it but ultimately it is a type of savings account that forces you to save.
- The longer that you have the house the value grows in the longer that you pay the mortgage the principal grows in value so that helps you to build equity in the home and when you sell it or leverage it to get another loan that puts you way ahead of any renter.
- Sometimes you can take the equity out of your house and use it to buy your new home and then start using your old house as a rental which can bring you anywhere from $100-$750 a month and my estimations of profit from rental income.
- Running home can also let you use your creativity in order to make your home your personal space. It’s your place you can do what you want with it and let your creativity only be held back by you and no one else.
- Owning a home teach you some responsibility but also gives you lots of freedom because you can do what you want to do when you want to do and how you want to do it and not living at your parents under their authority makes a huge difference in your life and allow you to grow and become a real adult!
- The process of buying a home teachers use the concept of finance. You don’t know much about it when you leave school but you learn as an adult how financing works what kind of terms come with it and how you will become responsible with your finances in order to pay your bills and continue to gain equity.
- Another great reason for buying a house when you’re young is because it allows you to have free time to do the things that you want to do and how was you making money all while you’re doing it by way of the gain of equity in your home.