Nothing changes your financial picture and sets the foundation for the future like buying a home (and then buying investment properties). Here are some thoughts to consider:
- Economists call home ownership a “composite” win. You get:
- Shelter
- Stability
- Location (relative to work, schools, shopping, recreation, etc.)
- Social standing
- Wealth
- Leverage in acquisition (e.g., 20% down payment)
- Forced savings + Appreciation
- Diversification
- Interest & property tax deductions
- Capital gains exclusion upon sale
- The average 60 year old homeowner has a net worth 41 times greater than a renter their age
- At age 60, on average:
- Homeowners have net worth over $350K
- Renters lag at $7K TOTAL net worth
- On average, Marin homes prices have risen over 6% per year since 1965
- If you bought a $100,000 home in 1965, that home is worth $2,769,710 today
Greater Wealth = More Options. Not sure about you, but we like having lots of options. Give us a call if you are thinking of buying your first home, moving up, or looking into investment properties. We love helping people create wealth through real estate. 🏡
