SEPTEMBER - A SECOND HOME MIGHT BE THE MISSING PIECE IN YOUR RETIREMENT PLAN

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A Second Home Might Be the Missing Piece in Your Retirement Plan Are you wondering if you’re on track to retire someday? According  to  Intuit , 69% of people say today’s financial environment makes it tough to plan for the future, and 68% aren’t sure they’ll ever be able to retire.  That’s why many people are exploring new ways to build stability and long-term income. And that’s where real estate comes in. Why Real Estate? Here’s What It Can Do for You If you’re able to make the numbers work, buying a second home can be a powerful tool for your future retirement. It could help you: Build wealth over time :  As home prices rise through the years, your second home should grow in value and increase your net worth. Generate extra income:  Renting the home could bring in some extra income you can add to your existing retirement savings. Just remember, some of the rent coming in will need to be used to pay that mortgage and maintain that house.  Profit in the ...
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3 Benefits to Buying Your Dream Home This Year

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3 Benefits to Buying Your Dream Home This Year | MyKCM


Outside of a strong economy, low unemployment, and higher wages, there are three more great reasons why you may want to consider buying your dream home this year instead of waiting.

1. Buying a Home is a Great Investment

Several reports indicate that real estate is a good investment, topping other options such as gold, stocks, bonds, and savings. Why? Real estate helps build equity, a form of investing for you and your family. According to CoreLogic’s Equity Report,
“U.S. homeowners with mortgages (roughly 64% of all properties) have seen their equity increase by a total of nearly $457 billion since the third quarter 2018, an increase of 5.1%, year over year.”
This means the average homeowner gained approximately $5,300 in equity over the past year. If you want to start building your equity, put your housing costs to work for you through homeownership this year.

2. Mortgage Interest Rates Are Low

The Primary Mortgage Market Survey from Freddie Mac indicates that interest rates for a 30-year mortgage have fallen since November 2018 when they hit 4.94%. In their latest forecast, Freddie Mac expects rates to remain low, leveling out to a yearly average of 3.8% in 2020.
When you purchase a home at a low mortgage rate, it will impact your monthly mortgage payment, giving you the opportunity to buy more house for your money.

3. Investing in Your Family is a Win

There are some renters who haven’t purchased a home yet because they’re uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you’re living rent-free with your parents, you’re paying a mortgage – either yours or that of your landlord.
Today, rental prices continue to increase, and when you’re paying your landlord’s mortgage instead of your own, you’re not the one earning the equity. As an owner, your mortgage payment is a form of ‘forced savings’ you can use later in life to reinvest in your family. You can use it for a variety of opportunities, such as saving for your children’s education, moving up to a bigger home, or starting your own business. As a renter, it can be more challenging to achieve those types of dreams without home equity working for you.

Bottom Line

Buying a home sooner rather than later could lead to substantial savings and long-term financial growth for you and your family. Let’s get together to determine if homeownership is the right choice for you this year.

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