It’s said time and time again that property investment is the largest investment made by an overwhelming majority of people. At times the prospect of committing to a $300,000 dollar investment can seem daunting, but it’s not really as difficult as it seems. Often times many people can spend that amount of money after 15-to-20 years of renting and in the end have nothing to show for it. Paying off a home in a lot of ways is the first step to financial success.
A home is a veritable “nest egg” in that its large value becomes your financial stability. If you have ten-thousand dollars in the bank, you’d be worth ten-thousand dollars. If you have a three hundred thousand dollar home paid off and ten-thousand dollars in the bank then you’re worth $310,000 dollars. Not only does a home help stabilize your financial situation, homes are known to increase in value three-to-four percent each year. Since this increase is exponential homes can have staggering increases in value over a long period of time.
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