MVP Realty Group

License #: 17582

Phone:
360-915-9123
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DON'T BUY A HOME Without First Considering These Two Things

You have probably heard it said that buying a home is like putting down roots. And, truly, statistics show homeownership has so many positive side-effects including stronger communities, children of homeowner households excelling in school, and wealth building.

However, homeownership isn't always for everyone. There are many factors to consider. Early on, there are two in particular: Commitment and Finances.

Commitment. When you don't yet own a home (zero equity), you should plan to hold your first investment for at least five years. Planning for any less than five years is risky because real estate is a long-term investment. It takes time to build equity. But the sooner you get into a home investment, the greater flexibility you will gain in the future.

So, if you are certain you'll be moving in 2-3 years, either plan to hold the property as a rental when you depart or don't buy.

Finances. Housing for most people is their single largest and unavoidable living expense. Whether you own or rent, you are purchasing real estate and paying property taxes in your monthly payment. It's just a question of who is gaining, you or your landlord.

Even though owning a home has proven to be THE single best wealth-building investment for you and your future generations, you must be in the right place geographically and financially to make that investment.

That's what we here at MVP Realty Group do. We shine a light on the path toward homeownership, even if that path is a year or two down the road.

By Matthew Plummer, CEO | Designated Broker

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