real1shep
Well-known member
<a name="start_32624.362658"></a>Then when your savings and investments grow, you can afford real estate, and that usually also appreciates. Even just land.
Real estate doesn't appreciate anything like it used to....you have to hold onto home property a lot longer and if you're expanding with kids, a bigger/newer house will absorb the equity you had in your first house. And as far as just land....be really careful there. For one if you plan to build on it, few banks will lend you the money just using the land as equity. Secondly, holding onto just land for a long period of time rarely nets you any big profit(as compared to other investments) unless the area is rezoned commercial, or suddenly becomes yuppie hot spot potential. All of that to say the least is a gamble.
My advice would be to buy a fix-'er-upper commiserate with the size of the family you expect to have. Do most of the work yourself and don't fret too much about how long it takes you. Take any extra money and funnel it into a retirement account and/or better yet, a broad-based investment portfolio. These days, leave real estate to the fools who think they can automatically get rich in it.
Kevin
Real estate doesn't appreciate anything like it used to....you have to hold onto home property a lot longer and if you're expanding with kids, a bigger/newer house will absorb the equity you had in your first house. And as far as just land....be really careful there. For one if you plan to build on it, few banks will lend you the money just using the land as equity. Secondly, holding onto just land for a long period of time rarely nets you any big profit(as compared to other investments) unless the area is rezoned commercial, or suddenly becomes yuppie hot spot potential. All of that to say the least is a gamble.
My advice would be to buy a fix-'er-upper commiserate with the size of the family you expect to have. Do most of the work yourself and don't fret too much about how long it takes you. Take any extra money and funnel it into a retirement account and/or better yet, a broad-based investment portfolio. These days, leave real estate to the fools who think they can automatically get rich in it.
Kevin