It's not hard to see the advantages of homeownership. Over the long run, if you diligently pay down your mortgage, you build equity in your home and end up owning it outright. And if property values go up over that time, you can end up earning an excellent return on your money.All things being equal, a mortgage payment will go further toward building wealth than that rental check. But all things aren't equal, points out Hutchins.
That's all after you hand over a down payment. The standard outlay: 20% of the home's value. Come in under that, and you'll have to pay extra cash forInvesting your savings: 'You could still build equity' with more flexibilityNot if they're strategic about using their savings, says Hutchins. Meanwhile, by renting, you give yourself flexibility that's harder to come by to those committed to a 30-year mortgage.
A lot can change in five years. Say you get offered a new job in a new city. Or you have a child unexpectedly and realize you live in a bad school district. If you have to move, says Hutchins,"it's way easier to end your lease than to sell your home."
So is this a report on a podcast episode or what. Does this guy have a book, has he done an interview regarding any of this? Is it gonna turn out hes just another dude who's parents bought him a house when he was 18?