))
Which Is Better - Buying a Home or Investing in a 401(k)?
Manage episode 150624045 series 1001255
Content provided by Jerry Conklin. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Jerry Conklin or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ro.player.fm/legal.
Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Value Report
Selling a home? Click here for a FREE Home Value Report
Is buying a home better than investing in a 401(k)? Today, we’ll go over some of the pros and cons of purchasing a home of your own compared to investing in a 401(k).
Pros
- Your housing costs will be locked in. Other things in your budget will fluctuate month to month, but this will be consistent in your budget.
- Owning a home is great for savings. Owning a home helps you create a budget and stick to it on a monthly basis.
- Great tax advantages. As long as you own the home, you will get those tax advantages.
Cons
- You will tie up some assets. Maybe you don’t want to concentrate all those assets in one place.
- You will have monthly or yearly expenses to pay for. Take things like lawn maintenance and repairs into consideration. Maybe you’re not prepared for those yet.
- Your stress can get in the way. Buying a home can be an extremely stressful process.
These are just some of the pros and cons you should consider if you’re thinking about contributing to a 401(k) versus buying a house. Ultimately, it depends on your individual situation. Some buyers opt to go $10,000 or $15,000 below budget when they buy a home so they can still contribute to a 401(k). If you have any questions, give us a call or send us an email. We would be happy to help you!
16 episoade
Distribuie
