“You’re throwing your money away,” says every real estate agent pushing you to buy a home.
In a world where real estate agents guilt you into thinking that renting is worse than owning, wealth strategist Douglas Eze has a different perspective to offer—and it may not make real estate agents too happy.
But first, let’s debunk one thing: renting does not equate to throwing your money away and ownership doesn’t equate to building wealth overtime.
The job of a real estate agent is to convince you to buy a house. The job of a mortgage loan officer is to convince you to get a mortgage.
Don’t fall into the trap of believing that these salespeople know what’s best for you when getting the sale solely benefits their pockets.
Renting vs. Owning
If you’re renting right now, that means you have a landlord. If anything breaks down, you can count on your landlord to call a contractor who will fix the problem.
If you own a home, that means it’s likely a bank is financing your mortgage. The bank and the government are your landlords, to whom you pay both the mortgage and taxes.
“A house is really not an investment unless it’s making you money,” says Eze.
Don’t tie yourself down by choosing to own a home unless you’re truly ready to settle down. As a young person, take the time to be flexible and travel from town to town.
There’s also the option of owning a property to rent out to people with the potential that the equity grows.
At the end of the day, there’s no rush. Do your own research and find what’s best for your current financial state, lifestyle and future goals. Above all, work with a financial strategist like Douglas Eze who is realistic and has your best interest in mind.
Get Smart With Your Finances Working With Douglas Eze
Douglas Eze founded Largo Financial Services 20 years ago. Douglas’s primary mission is to help individuals and families build generational wealth by identifying the areas where clients may be unknowingly throwing away money and empower them with the tools to begin saving for their future.
Largo Financial Services is Licensed in 50 states and the District of Columbia. To inquire about insurance, annuities, college plans, and tax-free retirement, schedule a free consultation with Douglas Eze and his team.
