There is a lot of talk on the subject of renting vs buying.
While counselling and advising couples, I often hear them say something like, “We can’t wait to get a house. We are just throwing money away renting a place!” and “Besides, a home purchase is an investment.”
Is this true?
In This Episode, We Look At:
“Is your home an investment?”
Definition (Investopedia): investment
A)An investment is an asset or item that is purchased with the hope that it will generate income or will appreciate in the future.
B)In an economic sense, an investment is the purchase of goods that are not consumed today but are used in the future to create wealth.
We look at the costs associated with purchasing and maintaining a home, a brief look at 15 year versus 30 year mortgages, and the importance of financial margin.
Improve Your Faith and Finances:
It is wise to save and invest for your financial future beyond the payment of your primary residence.
Share Your Thoughts:
If you have a question or comment about today’s topic, we invite you to share your thoughts.
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