Homeownership: Lifestyle or Investment?
Raleigh News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Financial expert Ramit Sethi challenges the notion of viewing your primary residence as a top investment, suggesting its more of a lifestyle choice than a wealth builder. Experts like advisor Eric Roberge agree, advising to treat your home as a utility for stability and rent protection, not a cash machine. While homes do appreciate in value, the real return after inflation is around one percent, and additional costs like upkeep, buying fees, and selling expenses further reduce this. Owning a home still has benefits, such as building equity, offering tax breaks, and providing a solid foundation. However, its not a quick stock-like win. The debate around homeownership shifts focus from homes as get-rich schemes to smarter, affordable choices. Before buying, consider if youll stay put for years, handle repairs yourself, and have steady work to ensure home buying is a win for your life and wallet.
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