I’m sure you’ve heard this by now, but your home is not an investment. Owning a home is seen as a major accomplishment, but it may not help you get ahead financially. Most people that that buying a home is cheaper than renting. Plus, you can get tax credits and the opportunity to build equity.
However, if you use your home as a primary residence and have a mortgage, it’s not much of an investment.
Owning a home is expensive and when you first get a mortgage, most of your payment goes toward the interest and not the principal.
Personally, I’d love to get into real estate but I know that having my own mortgage won’t help me much. This is why my husband and I have been looking into house hacking…Read More