Build Wealth with a Less Expensive Home
Here’s a case for buying a less expensive home than you secretly want.
According to the U.S. Bureau of Labor Statistics, the average American spends approximately 37% of his or her income on housing. Notably, the top 20 percentile earners spend only 29.9% of their income, while the bottom 20% pay 39.9%. So what do high earners know that you don’t know?
If you have a little less money invested in housing, you’ll have more money to do other things, like:
Tagged : invest
HOMEBUYERS’ ADVICE | Is It Time To Buy a Vacation Home?
You may be feeling fairly flush these days, with a bigger salary, job security, appreciating homestead and other wise investments. Now might be the right time for you to buy a vacation home.
According to the 2019 U.S. Vacation Home Counties Report compiled by the National Association of REALTORS, the median price of vacation homes between 2013 and 2018 appreciated 36% compared to existing and new homes at 31%.
Like many vacation home buyers, you may be thinking of a great family getaway, but you can also use a second home as an additional way to build equity. You can lease it for income, and then use the property as your primary residence upon retirement.
Banks have stiffer qualifying…