Want to Build Wealth? Buy a Home This Year.
Posted by The Cobb Group on
Every year, households across the country make the decision to rent for another year or take the leap into homeownership. They look at their earnings and savings and then decide what makes the most financial sense. That equation will most likely take into consideration monthly housing costs, tax advantages, and other incremental expenses. Using these measurements, recent studies show that it’s still more affordable to own than rent in most of the country.
There is, however, another financial advantage to owning a home that’s often forgotten in the analysis – the wealth built through equity when you own a home.
Odeta Kushi, Deputy Chief Economist for First American, discusses this point in a recent blog post. She explains:
“Once you include…
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This year challenged us to reprioritize everything – from the way we use our time to where we work, how we socialize and gather together, and our needs at home. For many, this also meant making decisions about how to best support and engage with our extended families, near and far.
There is something about the way our holiday decorations hold so much magic and sparkle when we put them out but by the end of the season, we can't wait to take it down. So as the holidays come to a close and we all begin to put away our decorations, it's foreseeable that we want to declutter just about everything (including our kids!). The problem is...we want to make it some huge project and then we never do it. However if you keep it simple, you can get more done that you thought.
How many of you like (I use that term loosely) to play games with your family? I'll admit, we didn't grow up playing many games but so many of my friends families did. I was so jealous! However, I do have some pretty great memories of a Monopoly and Pictionary game going bad on Christmas Day. Let's just say...some things were thrown!
Have you noticed that your friends and neighbors have been decorating for Christmas earlier this year? Or maybe it's you that's decided to decorate earlier than normal? It seems to be what people are talking about right now, myself included. If it makes you happy, why wait? There's no written rule that says you have to wait until the day after Thanksgiving. You're not going to get a decorating ticket! So go for it. From what we read, it's proven that it will make you feel better.
