leighyork

Everyone thinks their way is the best way. The true answer is based on you and your goals. Ask yourself some questions.

1. Am I ready to maintain a home? It’s not just the expense but the time involved. When something breaks, am I prepared to get it fixed immediately? Example: There is a small, slow leak in the kitchen. Am I the person who will get it fixed today or will I let it go until it’s caused damage?
2. In the event that I get a great opportunity elsewhere, and I don’t have much equity in my home, would I be a good landlord? You can usually hire a property manager if you need to lease your property and go live elsewhere. But some people just don’t want to be landlords. That’s ok but you need to know how you feel about it.

Multiple sources agree that homeownership is the number 1 way to build wealth in America. The challenge is that you have to buy smart and be prepared to own the property for a long time. You may have to make some adjustments based on what life throws at you. Don’t get into it thinking you can just sell it if you change your mind. This is a long term investment.

I do believe that if you’re up to it, real estate is the best investment. Just remember that it’s long term. My first real estate investment was at 24 and it became the foundation of my success. Just know that it’s more about you than the markets.

Good luck!