Have you ever played Monopoly? Is acquiring wealth really as simple as that? MONOPOLY?
78% of Americans consider owning a home as part of the American dream. It is also considered one of the best ways for us to accumulate wealth. Do you ever wonder why is it such a good way to accumulate wealth? Most people do not access to leverage (think loans) like in real estate.
So consider, today most people can buy a home and puts a little as 3.5% down and borrow 96.5% of the purchase price. If that home appreciates 4% a year that is over a 100% cash on cash return each year- remember compare appreciation back to your investment - not the price of the home. Here is what the estimated returns have been since Covid started through Q1 2022.
If you want to buy a home or invest in a home - let us chat. It looks to me like we are "underhoused" in America so I think values will continue to rise.
Here are the historical Homeownership rates for those under 35 - I am glad to see it rising. Einstein called compounding interest the 8th wonder of the world. The earlier we start saving the better.
If you don’t think you can afford it I would ask what are you goals in life?
Let us chat and make a plan so you can own your own home. Complete the form below or call John Foster at 770 722-7010