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 &ldquo;renting to buy.&rdquo;</p> <p>The average person will not pay off their house for decades.</p> <p>Until you pay off that mortgage, that home is&nbsp;<strong>not</strong>&nbsp;yours.</p> <p><strong>So why do many people believe buying a house is smart?</strong></p> <p>Because they&rsquo;re taught to do so when they can &ldquo;afford&rdquo; 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&rsquo;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 &ldquo;faux owns&rdquo; their home.</p> <p>Remember, &ldquo;your&rdquo; home is not an asset until you sell it.</p> <p>And if your home is not paid off, you&rsquo;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>