It's common knowledge that owning a home is considered a long-term investment. However, a lot of people don't put into consideration just how vital of a role it can play in their future. This is especially true for young adults as many of them don't really put a lot of thought into 30 years down the road. A home is not only a great way to save money, but the right exclusive buyer agent may be able to put you into something that can turn out to be lucrative.
Not everyone considers how much it truly costs in order to retire. In fact, nearly half of the adults in the U.S. don't save anything for when the time comes. Owning your own home helps soften the blow by reducing your overall expenses by the time you're ready to say good-by to the working world. Instead of worrying about a monthly mortgage or rental payment, you could own the real estate and live free of payments. Once the mortgage has been paid in full, your monthly allotment from pensions and 401K plans could go much further to pay living expenses.
Many people will live in a single location for several years to build up equity. At which point, they'll try to sell the property for more than they paid while receiving a great deal of cash. This is known as “flipping” a house. It can be quite a windfall if you're in the right market, so put some money into improvements and utilize an agent to help you sell the property. Although this practice does come with varying risks, the potential for profit is attractive to many.
A home is more than just a place to store your belongings and sleep at night. It's an investment that has potential to make your life much better in the long run. Using an exclusive buyer's agent can help you find those perfect pieces of real estate that have potential to enhance your financial portfolio. Never underestimate the future practicality of owning your own home.
20 Retirement Stats That Will Blow You Away, fool.com
Flipped Homes Fall to 4.5 Percent of All Single Family Sales in Q2 2015 Despite Increase in Average Flipping Returns, realtytrac.com