One way you can invest in your future is through purchasing real estate. Here’s why it’s such a smart investment.
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Since most people don’t have a lot in their savings account, how can they build wealth over time? Well, with real estate, you can almost force wealth to be built in a family.
First, I should mention that I’m not a financial advisor or tax professional, but this is what I’ve seen over my years in the business.
Each time you make a payment, you’re paying into your future wealth.
When people buy homes and keep up the payments on a fixed-rate mortgage, the only thing that can change over time is insurance or taxes. The bulk of the payment remains the same for the entirety of the mortgage. However, the property itself will continue to appreciate in value as you pay the mortgage down each month. Each time you make a payment, you’re owning more of the home and building more wealth. Eventually, you’ll pay off the home and have hundreds of thousands in equity on your home.
Before making any decisions, be sure to reach out to your tax professional. If you have any other questions for us in the meantime, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.