We all recognize the potential monetary benefits of real estate investing. There are many perks of investing in real estate that outweigh the costs, and you, as a real estate investor, could be making a steady flow of income to ensure financial freedom in the long run.
Because of the high cost of urban living, many modern families can’t afford to buy their first dream home. But, there is a clear shift in purchasing power from baby boomers to millennials. Millennials are showing interest in recreational housing markets where they buy a home while paying rent for their primary residence in pricier towns.
Despite the higher real estate price, owning a home is still considered to be a good investment – three primary reasons why:
- Home values tend to rise over time, and are, at the very least, an excellent way to store value.
- Capital gains in a principal residence are never taxed, much like a tax-free savings account.
- A home can be used as security to borrow through a home equity line of credit.
If you are considering enhancing your financial security by investing in a residential or commercial property, don’t forget to seek advice from verified professionals like ours. Mortgage24 will explore different mortgage options and rates available to you today.