Your House Is A Liability Until It’s Making You A Profit Or You Own It
<p>Is your home bringing you money or taking money out of your pockets?</p>
<p>Is your home paid off, or are you still making payments?</p>
<p>Buying a house is really “renting to buy.”</p>
<p>The average person will not pay off their house for decades.</p>
<p>Until you pay off that mortgage, that home is <strong>not</strong> yours.</p>
<p><strong>So why do many people believe buying a house is smart?</strong></p>
<p>Because they’re taught to do so when they can “afford” a home on paper (i.e., decent credit, fair debt-to-income ratio, and consistent income).</p>
<p>When you have a stable and consistent income and reach a certain age, the next logical step you’re taught to take is to buy a house.</p>
<h1>Renting Is Underrated</h1>
<p>If you keep your expenses low, you incur no debt from owning a home and can maintain a high disposable income that can be invested to build a net worth similar to that of a person who “faux owns” their home.</p>
<p>Remember, “your” home is not an asset until you sell it.</p>
<p>And if your home is not paid off, you’re only getting the difference subtracted from the amount necessary to pay off your mortgage if you decide to sell.</p>
<p><a href="https://medium.datadriveninvestor.com/your-house-is-a-liability-until-its-making-you-a-profit-or-you-own-it-33ecdfd67080"><strong>Learn More</strong></a></p>