Why You Need to Own the Real Estate You Live in?

Millennials—who have overtaken Baby Boomers as the largest generation in US history—are buying homes at alarmingly low rates. According to Statista, “A 2019 survey found that among all adult age groups, Millennials had the most pessimistic outlook about home purchases.”

The Urban Institute found that only 37% percent of Millennials own their homes, which is 8% less than previous generations. “8% less” translates to about 3.4 million young people that are missing out on one of the smartest investments everyone should make.

There are a number of reasons why you should own a home. Some are financial and some are emotional or functional.

My real estate success has been largely made possible by following this one very important rule: I treat any house that I live in, or commercial property that a business of mine occupies, the same way that I would treat any stand alone real estate investment.

For most average real estate investors, you’re going to be “buying and holding” your investments (aka being a landlord). So why is it any different if it’s your own home? Actually, it’s the biggest investment win-win.

Think about it. You get an extremely reliable tenant (yourself), and a landlord you won’t ever have to “deal” with (yourself)!

Plus you don’t need to pay for brokers fees when acquiring the lessee, or pay any property management fees during their tenancy. Talk about an ideal situation!

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