Homeownership is like a religion in this country. Everyone assumes home prices always go up… They don’t.
But most importantly, people don’t factor in the hidden costs of home ownership. They see a 2-bedroom house for $2,000… and a 2-bedroom house with a mortgage for the same price and they think, “I might as well build equity!”
They don’t factor in the other costs that can add 30-50% to a monthly mortgage.
So when somebody says they bought a house for $300,000 and sold it later for $500,000, that doesn’t mean they made a $200,000 profit after you factor in all these other costs.
Rent is often the monthly maximum you will pay for housing, but a mortgage is the minimum you will pay.
I’m not opposed to home ownership, but this is the biggest purchase of your life. Run the numbers to make sure you can afford it.
I'll show you EXACTLY how to do this inside my Money Coaching program → iwt.com/moneycoaching-ct
What you'll often find is that renting is a better deal.
I’m a millionaire. I can easily afford a house in a nice neighborhood. But I still choose to rent! It’s been a better deal for me for the last 20 years.
I Will Teach You To Be Rich
Homeownership is like a religion in this country. Everyone assumes home prices always go up… They don’t.
But most importantly, people don’t factor in the hidden costs of home ownership. They see a 2-bedroom house for $2,000… and a 2-bedroom house with a mortgage for the same price and they think, “I might as well build equity!”
They don’t factor in the other costs that can add 30-50% to a monthly mortgage.
So when somebody says they bought a house for $300,000 and sold it later for $500,000, that doesn’t mean they made a $200,000 profit after you factor in all these other costs.
Rent is often the monthly maximum you will pay for housing, but a mortgage is the minimum you will pay.
I’m not opposed to home ownership, but this is the biggest purchase of your life. Run the numbers to make sure you can afford it.
I'll show you EXACTLY how to do this inside my Money Coaching program → iwt.com/moneycoaching-ct
What you'll often find is that renting is a better deal.
I’m a millionaire. I can easily afford a house in a nice neighborhood. But I still choose to rent! It’s been a better deal for me for the last 20 years.
3 days ago | [YT] | 371