Owning a Home is the Best Investment You Can Make for Yourself or Your Children
Lets start with a quick comparison example: rent a 3 bedroom 2 bath home for $1,500/mo. Purchase a very similar home for $350K, total payment of $1800/mo. change your W4 take home exmptions and bring home an extra $600/mo. in income.
Your monthly outlay is $1,200/mo. & You Own!!
Investing in stocks, bonds or even cattle futures! are all optional decisions that one can make based on their particular financial situation. INVESTING IN REAL ESTATE IS NOT OPTIONAL! Everyone needs to live somewhere so everyone is invested one way or another. If you are renting, you are paying the owner and thus providing part of his return on investment! If you are an owner, there are many financial advantages:
If You are a Parent that Wants to Help Your Children either Just Getting Started in Life, or as a Legacy
Home ownership is one of the best gifts you can give your children. Whether it’s simply helping them with the down payment, co-signing, or joint ownership, it will have an effect over the course of their entire life! And if you are worried about their financial responsibility, you can structure an agreement that protects both you and them; even if you bought and rented to them with the plan for them to inherit, this provides a secure savings for their future. Worst case, you have the ability to sell or rent to someone else if necessary. There are many safe options to help your children if this is your desire. Dennis Amaral (my lender) and I are very happy to discuss the possibilities with you!
Two things I have Consistently Observed in my 17 years of working Real Estate!
1. Most people with significant savings and assets accomplished this with Real Estate. Few people save signifcant money from their employment!
2. In almost every situation, a person can purchase a similar property to what they are renting for less than what they pay in rent! Especially when taking into account the huge tax advantage to owning!