subject: Buying a House is a Great Investment in Yourself [print this page] Often hear or read that buying a house, a great long term investment. That is absolutely true, but more importantly it is an investment in itself.
When it comes to personal finances, Americans are notorious. We give the money as it goes out of fashion, growing on trees and so on. The downside of this, of course, we are renowned for saving virtually nothing. In fact, one of the biggest concerns of economists and theGovernment is what happens when we get older and have no money to live. For this reason, IRA, 401 (k) and other retirement vehicles are made so attractive by the government. You try to force us to save money, and rightly so. However, show the statistics, most Americans do not.
If you are considering buying a house there are many reasons to do so. Common causes are the pride of ownership, the tax benefits that you pick up mortgage rates and so on. TheFact is a good long term investment is also traded. The statistics are clear. Real estate appreciates over time. At the same time, you should pay off your mortgage debt. In combination these two actions will inevitably in your living room into a property, as a sort of savings account.
As is typical with capitalism lies in the nature of this savings from system to reflect new services such as baby-boomers who are getting older. In this case we are talking about the reverse mortgage productsflooding the market. Reverse mortgage basically allows you to live cash out of the house, while still in her. While you pay a lender with a traditional mortgage, the process is reversed with a reverse mortgage as the lender pays you in exchange for pieces of the equity house. Some people are comfortable with this, while others are not. What is undisputed, however, this product is only there because the houses are de facto savings accounts of most people.
