In this video we take a look at how important it is for YOU to pay yourself (by making payments to your own mortgage) rather than paying your landlord’s mortgage.
It’s no secret that people who own their home have a higher net worth than people who rent (almost 100% of the time). So why are you still paying rent ? Why are you working so hard at your job everyday, only to come home and keep paying your landlord’s or someone else’s mortgage instead of your own?
It’s time for you to make a change and start paying yourself, start investing towards your future wealth, start investing in your family’s future. Start paying YOUR OWN mortgage payments.
There are too many benefits to list here, but I will be happy to answer any questions you post below or call me. Most of the benefits you are already know, you have heard them from time to time, but here are two of my favorite ones:
1. You will be putting money into a “forced savings account”! For most people, it is so so hard to save money, to literally put money aside into a separate savings account. For most people, there just isn’t anything left over at the end of the month, so nothing gets saved. But when you are paying a mortgage, you are forced to put money into your “forced savings account” known as the equity in your home. Yes, it is true, this money is not liquid and you can not access it immediately, it can only be taken out via a refinance of your home or a line of credit, I DON”T RECOMMEND neither…. unless it is an EXTREME EMERGENCY.
2. Secondly, You will be building your wealth, your family’s wealth, in the form of that equity. This money is meant to be your road to retirement, you can pay off the entire home if you choose to live there that long, or take the equity out when you have enough of a down payment to buy your second home and continue to repeat these steps throughout your life. This will virtually guarantee that you will have a comfortable nest egg to retire on (there are many factors involved in this process and I will be happy to break it all down for you, please reach out anytime you would like to find out more).
There you have it, certainly there are more benefits to owning a home, and if you would like more information or have questions, please don’t hesitate to reach out to me anytime.
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