The news is by your side.


0 1

Get real time updates directly on you device, subscribe now.

This again flies in the face of what many so-called “experts” say. What they say—buy more house
than you can afford because your income will always grow—is a risky proposition that puts too much
pressure on you.
Why not start out buying a house you know you can afford? When your income grows enough to
support a nicer, larger home in a better neighborhood, then you can purchase that home.
When you buy your first home, you can take the extra income that you’re not overextending yourself
with to invest/save for your next home. Before you know it, you will be buying homes for cash (or a
limited down payment).
This is consistent with another principle you read about: Always live below your means. It works.
After buying my first house (after renting for ten years) with a small mortgage, I purchased all
subsequent houses for cash. In addition, all subsequent homes were more than affordable based on my
existing assets.
Most importantly, this strategy allows you to enjoy your young adult days without the pressure of a
high mortgage and the responsibility of owning a home.

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.

Subscribe to our newsletter
Sign up here to get the latest news delivered directly to your inbox.
You can unsubscribe at any time

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More