Like many people during COVID, I reevaluated what I really want my quality of life to be. I’ve lived in big cities making a high salary, but I’m single and have been intimidated by homeownership only having one income source .
Do you have a question about buying or selling a home? Do you want to know where your next move should be? Email Jacob Passy at TheBigMove@marketwatch.com.Ah, the Great American Dream of a single-family home with the white picket fence. It can serve as a worthwhile goal for people to hold onto as they delve into their careers and squirrel away pennies here and there.
I read a tinge of regret in your letter — and I hope that you give yourself a pat on the back for the choices you made. For all the benefits homeownership provides, it’s not something to take lightly. You were right to second guess whether to take on such a major financial burden with only one income to rely on. And in most major cities across the country, being a renter and investing your money into other asset classes is a better gamble than buying a home, given how high property prices are.
“I do not believe that homeownership is a critical part of a financial journey, although the ability to cover housing costs is,” said Marco Rimassa, president and founder of financial advisory firm CFE Financial in Katy, Texas. “ Being a long-distance landlord isn’t easy. You may end up needing to hire a company to manage the property for you — representing another expense. ”
Of course not!!
You're never too old to purchase a home!
Lol 52 being too old to buy a home. How do people get brainwashed into thinking this way?